Pandora Media (P) Climbs Despite Layoffs

Pandora Media Inc (NYSE: P) shares chugged higher 6.9% to $12.83, as the company announced its plans to reduce U.S. employee base by 7% by the end of the first quarter. The company also projects to exceed its earlier Q4 revenue forecast. Share volume proved 9.8 million, compared to an all-day average of 7.3 million