Orlando, FL -- (SBWIRE) -- 10/09/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Pandora Media Inc (NYSE:P), MGM Resorts International (NYSE: MGM).
Pandora Media Inc (NYSE:P) shares decreased 7.76% to $24.26. The company on Oct. 2 announced new metrics that were reached in the month of September 2013. Listener hours for Pandora during the month of September 2013 were 1.36 billion, an increase of 18% from 1.15 billion during the same period last year. Active listeners were 72.7 million at the end of September 2013, an increase of 25% from 58.3 million during the same time period last year.
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MGM Resorts International (NYSE: MGM) shares dropped 2.16% to $19.94. Las Vegas convention bookings will rebound to peak 2007 levels in the first quarter of next year, as audience attendance increases, MGM Resorts International (MGM) Chief Executive Officer Jim Murren forecasted on Oct. 8.
Room bookings at MGM Resorts, the largest casino operator on the Las Vegas Strip, suggest a “tremendous” January through March for all Strip hotels, Murren said in an interview in New York. The rise comes from stronger attendance at events including the Consumer Electronics Show, in January, and the return of Conexpo-Con/Agg, the construction industry convention and exhibition held every three years in March, he said.
Additionally, Cantor Fitzgerald upped their target price on shares of MGM Resorts International to $23.00 in a research note issued on Sept. 24. The firm currently has a “buy” rating on the stock.
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