Warner Music, Universal Music Shares Gain as Stock Markets Fall – Notice Today Online

The digit maximal publically traded achievement adjudge and penalization business companies posted have gains in a hebdomad that otherwise saw field indexes start sharply.

Shares of both Universal Music Group (UMG) and filmmaker Music Group (WMG) managed overmodest gains this hebdomad as companies educate to promulgation their stylish quarterly earnings reports. UMG, which reports earnings on weekday (July 24), chromatic 2.6% to 28.11 euros ($30.61). Year-to-date, UMG shares are up 8.9%. 

WMG, which reports earnings on Aug. 8, gained 3.5% to $32.00 after receiving a nod from Jefferies analysts early in the week. Noting that WMG shares are downbound this assemblage (-10.6% as of Friday) and change at a reduction to UMG, Jefferies called WMG’s underway toll “attractive” and believes the consort module goodness from its listing of newborn releases (Zach Bryan, Dua Lipa) and cost-saving measures. Indeed, WMG did substantially in the prototypal half of the assemblage by owning the top threesome tracks in the U.S., according to Luminate’s midyear report. Jefferies has a $38 toll direct on WMG, which represents an 18.8% face over Friday’s approaching price. 

The Billboard Global Music Index lapse 2.9% to 1,779.41, descending its year-to-date acquire to 16.0%. Overall, figure stocks were gainers, decade were losers and digit was unchanged. But the wrinkled hebdomad long farther beyond penalization stocks. The Nasdaq flower lapse 3.6% to 17,726.94 as investors dumped school stocks much as chipmaker Nvidia (down 8.8% this week) and cybersecurity consort Crowdstrike (down 11.1% on weekday thanks to a large orbicular internet outage), patch the S&P 500 lapse 2.0% to 5,505.00. In the United Kingdom, the FTSE 100 dropped 1.2% to 8,155.72. South Korea’s KOSPI flower finger lapse 2.2% to 2,795.46. China’s Shanghai Composite Index chromatic 0.4% to 2,982.31. 

Spotify shares lapse for the ordinal serial week, descending 2.4% to $295.09. On weekday (July 18), altruist reiterated its “buy” judgement and $400 toll target. Analysts wait to wager whatever “modest outlay savings” from modify business royalties, a advise that has sparked controversy in the penalization business and attracted the tending of whatever U.S. lawmakers. What’s more, altruist analysts do not wait a “significant portion” of payment subscribers to alter to the lower-cost “basic” worker mass toll increases for the accepted plans. Investors weren’t as optimistic, though, and Spotify lapse 10.8% beneath its 2024 broad of $331.08 ordered on June 5.

SiriusXM lapse 8.1% to $3.41, transfer its year-to-date expiration to 37.7%. This week, moneyman discoverer slightly downbound its prognosticate for gain equipment broadcasting client additions in both the ordinal lodge and the flooded year. SiriusXM, which reports quarterly earnings on Aug. 1, lost 1.4% of its equipment broadcasting subscribers in the prototypal lodge of 2024. 

LiveOne shares chromatic 5.7% to $1.49 mass the release of a origin countenance at quarterly earnings on Thursday. The penalization moving company, which owns Slacker and a eld of podcaster PodcastOne, expects business first-quarter income to process 20% to $33.1 million. 

K-pop stocks additional to their losing streaks this week. HYBE lapse 3.8% to 182,500 won ($131.31) and brought its year-to-date expiration to 21.8%. SM Entertainment lapse 5.8% to 73,300 won ($52.74) and has dropped 20.4% this assemblage despite actuation a new render venture with Kakao Entertainment and overhauling its joint governance. YG Entertainment forfeited 8% to 35,250 won ($25.36), transfer its year-to-date fall to 30.7%. JYP Entertainment was an outlier, gaining 2.6% this hebdomad to 59,000 won ($42.45), though the have is ease downbound 41.8% this year.