DISH Network, Momo, Pandora News Today

DISH Network Corp (DISH), Momo Inc (ADR) (MOMO), and ​Pandora Media Inc (P) are making headlines today

by Alex Eppstein

Published on Mar 7, 2017 at 9:22 AM

Stock futures are modestly lower in pre-market trading, as Wall Street digests a potential Obamacare replacement, unveiled by Republicans. Among specific equities in focus today are programming provider DISH Network Corp (NASDAQ:DISH), social network Momo Inc (ADR) (NASDAQ:MOMO), and music discovery stock Pandora Media Inc (NYSE:P). Here's a quick look at the news driving DISH, MOMO, and P shares.

DISH Network Joining S&P 500

DISH will be added to the S&P 500 Index (SPX) ahead of the open next Monday, March 13, replacing Linear Technology Corporation (NASDAQ:LLTC), which is being acquired by Analog Devices, Inc. (NASDAQ:ADI). The news has DISH Network Corp stock up 5% pre-market, even though history suggests new S&P stocks tend to struggle in the short term. Over the long haul, the shares have performed quite nicely, advancing 22.6% year-over-year to trade at $61.23, and fresh off a Feb. 22 annual high of $64.74. Perhaps this explains why options traders are so call-skewed within the front three-months' series. Specifically, DISH sports a Schaeffer's put/call open interest ratio (SOIR) of 0.38, ranking in the low 13th percentile of its annual range.

Momo Eyes Post-Earnings Highs

MOMO is pointed 10% higher ahead of the open, after an earnings beat and 16.2% monthly active user growth in December. After settling Monday at $26.61, the shares could touch a record high out of the gate. Perhaps this will finally capture the attention of analysts. Just three brokerage firms currently cover Momo Inc -- though, it should be said, each has handed the stock a "buy" or better endorsement.

Liberty Media Punts on Pandora Acquisition

P is bracing for a rocky session, down 3.9% pre-market, after Liberty Media Formula One (NASDAQ:LMCA) CEO Greg Maffei said it's unlikely his company will purchase Pandora Media Inc. "We like the asset, just not at this price," he explained. The stock landed yesterday at $12.47, having advanced 15% on a year-over-year basis. The latest news should be a coup for short sellers, assuming the losses materialize. Roughly 30% of P's float is sold short, translating into almost nine sessions' worth of trading activity, at the stock's typical daily volume.

Get a jump-start on the day's stock market news with Schaeffer's free Opening View newsletter.

A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earning announcements before it's too late!



NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories

Research Exposes Shortcut to Stock Market Wins
A simple way to stop picking losers, and start cashing in like Wall Street's elite.
Spotify Stock Shaky as Amazon Eyes Podcasts
Amazon's interest in podcasts puts SPOT in focus
AZO Shifts Higher After Earnings
AutoZone's fiscal third-quarter results beat estimates
One New Company Looks Ready To Clean Up On China’s Lithium Mess
Click to continue to advertiser's site.