New Service from Audiogalaxy Has Pandora (P) Investors Selling Ahead of Q4 Results

Shares of Pandora (NYSE: P) are underperforming the broader stock market Tuesday afternoon ahead of the company's fourth-quarter results, expected out this afternoon after the closing bell rings. While the stock is down about 3 percent to $14.22, the Dow Jones Industrial Average is down about 1.57 percent to 12,759.

Traders in the stock are also likely responding to news Audiogalaxy has unveiled a similar P2P music service. A recent article from GigaOm cited CEO Michael Mehej as touting the company's "own algorithms and data to recommend music, instead of licensing metadata from third-party providers." Another differentiator from competition: Audiogalaxy currently has licenses for Beatles albums and will run ad-free.

Tune into StreetInsider.com's Earnings category at 4pm ET to be the first to see the Pandora results.

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