Pandora stock soars to one-year high
Oakland-based Pandora Media soared Friday, with the Internet radio company's stock rising to a 52-week high.
Pandora jumped 17.6 percent and finished at $13.79.
Investors focused on better-than-expected fourth-quarter results rather than the unexpected resignation of CEO Joseph Kennedy.
Revenue in the quarter ended Jan. 31 climbed 54 percent to $125.1 million, Pandora said as part of its earnings release Thursday, better than the $122.8 million expected by Wall Street. Excluding one-time items, Pandora lost 4 cents a share, better than the 5-cent loss analysts had predicted.
Wells Fargo rises to best levels in four years
San Francisco-based Wells Fargo climbed to a four-year high in intraday trading, marking the bank's best showing since the financial crisis in October 2008.
Wells rose 0.2 percent to close at $36.50. During the day, the shares reached as high as $36.62.
This week, the Federal Reserve released the results of stress tests to determine how major banks would fare under a severe economic downturn.
Wells Fargo outperformed large rivals JPMorgan Chase, Bank of America and Citi.