Shares of Pandora were under pressure after rival Spotify announced will launch a competing web radio service .

And Arena Pharmaceuticals hit another 52-week high after investors felt confident that a decision on its potential blockbuster drug for obesity, Lorcaserin will not be delayed and could portend good news. According to StreetInsider.com, with or without a delay, most expect that the FDA will follow the advice of their panel and back Lorcaserin. No delay could mean a “first mover” advantage for the company.

Follow me on twitter @LoriSpechler and read more of my posts on http://marketinsider.cnbc.com

Disclaimer

P News & Analysis

 Gold Settled Up at $1,391 as Dollar, Shares Slide - 2 hrs ago

 Midday Movers: Sempra Energy, Electronic Arts & More - 3 hrs ago - CNBC.COM

 Volatile Trading Day Keeps Focus on Fed, Jobs Data - 19 hrs ago - CNBC.COM

 Gold Extends Losses on Firm Dollar Ahead of Fed - 21 May 2013 EDT

 Cramer's Alternative Airline Play for Skeptics - 20 May 2013 EDT - CNBC.COM

 More P News