Pandora Pops on Court Ruling; Biotech Stocks Put End to Rally

Pandora (P) surged after moving closer to a favorable copyright ruling on Monday. A U.S. copyright official said judges should hear the argument for lower rates, which if approved would lower Pandora's content acquisition cost. A decision on the case is due in December. An earlier rally was short-lived on Monday as the health care sector pulled the Nasdaq lower and capped gains on the S&P 500 and Dow. Stocks had enjoyed a brief rebound this morning from Friday's selloff. Biotech stocks tumbled after Democratic presidential candidate Hillary Clinton tweeted that she would unveil a plan to address price gouging in the drug industry. Clinton will reveal details on Tuesday. Major drugmakers including Pfizer (PFE), Gilead (GILD), Merck (MRK) and Bristol-Myers (BMY) were all lower.

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