By Benjamin Pimentel, MarketWatch
SAN FRANCISCO (MarketWatch) -- Technology stocks traded sideways
Wednesday as shares of Pandora Media fell sharply after the online
radio service reported its final monthly metrics for May.
Pandora's stock (P) shed 2.6% to $23.96 after the company said
listening hours rose 28% year-over-year in May. The company also
said its share of total U.S. radio listening rose to 9.1% from
7.3%. Pandora said it had 77 million active listeners in May, up
from 70.8 million in the year-earlier period.
The Nasdaq Composite Index (RIXF) traded mostly flat, and was
last down less than a point at 4,239.
The tech sector also took a hit from slumping shares of Google
Inc.(GOOGL) and Microsoft Corp.(MSFT) Google was down 0.1% at $554,
while Microsoft was down 1%.
On the upside, shares of Apple Inc. (AAPL) edged higher by 0.4%
to $640.39. Amazon.com (AMZN) also moved up by 0.2% to $307.92 and
Advanced Micro Devices(AMD) rose by nearly 1%.
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