Shares Of Pandora Jump Over 5% Amid Bloomberg CFO Summit, Goldman Sachs Rumors

At the Bloomberg CFO Summit, Pandora Media's (NYSE: P) Chief Financial Officer Mike Herring said the company has “huge opportunity” and can extend the lead in the connected- music space.

Herring remarked that “almost every one” of its competitors has failed. The CFO reported that Pandora is pushing data to teams, which helps build sales and monetizes data through highly-targeted advertising. Herring added that the company's data storage has been commoditized.

In Tuesday's trading, shares traded as low as $23.79 before jumping over 5.6 percent to $25.13; shares climbed higher to $26.24 amid rumors that Pandora has hired Goldman to handle potential offers.

Pandora declined to comment to Benzinga on the rumor of the hiring of Goldman Sachs as an advisor.

At last check, shares are sitting at $24.68, about even for the day.