Digital Music News - Dow Dips Below 10,000; Music Stocks Edge Downward...

Dow Dips Below 10,000; Music Stocks Edge Downward...

Monday, February 08, 2010
by presnikoff

Wall Street dropped below the important 10,000 threshold on Monday, a decline that dragged music stocks. At the bell, the Dow (DJIA) slipped to 9,908.39, a one-percent decline prompted by debt and default fears in Europe.

Actually, the Dow briefly dropped below 10,000 last Thursday, though valuations recovered before the bell. The market first crossed into the 10,000s in 1999, a tough perspective for longer-term traders.

Anyway, that sogginess had an impact on music stocks. Warner Music Group (WMG) fell 4.2 percent to $4.79, Live Nation (LYV) dropped 2.35 percent to $11.63, and Apple (AAPL) shed 0.69 percent to $194.12. RealNetworks remained level at $4.14.

Report by Alexandra Osorio.

Major Indices

Dow Jones Industrial Average (DJIA)

Finishing Value: 9,908.39
Gain or Decrease: Down 103.84 (1.04%)
Previous Closing Value: 10,012.23
_{Closing Valuation,
02/06/2009: 8,280.59}

_{Closing
Valuation, 01/08/2010: 10,618.19}
_{Closing
Valuation, 02/01/2010: 10,185.53}

NASDAQ Composite (IXIC)

Finishing Value: 2,126.05
Gain or Decrease: Down 15,07 (0.70%)
Previous Closing Value: 2,141.12
_{Closing Valuation, 02/06/2009}_{:
1,591.71}
_{Closing Valuation, 01/08/2010}_{:
2,317.17}
_{Closing Valuation, 02/01}_/2010_{:
2,171.20}

S&P 500 (GSPC)

Finishing Value: 1,056.74

Gain or Decrease: Down 9.45 (0.89%)

Previous Closing Value: 1,066.19

_{Closing Valuation, 02/06/2009}_{:
868.60}
_{Closing Valuation, 01/08/2010}_{:
1,144.98}
_{Closing Valuation, 02/01}_/2010_{:
1,089.19}

Music Software, eCommerce, & Hardware

Apple (AAPL)

Finishing Price: $194.12
Gain or Decrease: Down 1.34 (0.69%)
Previous Closing Price: $195.46
_{Closing
Valuation, 02/06/2009}_{: $99.72}
_{Closing
Valuation, 01/08/2010}_{: $211.98}
_{Closing
Valuation, 02/01}_/2010_{: $194.73}

SanDisk (SNDK)

Finishing Price: $26.37
Gain or Decrease: Up 0.28 (1.07%)
Previous Closing Price: $26.09
_{Closing
Valuation, 02/06/2009}_{: $11.05}
_{Closing
Valuation, 01/08/2010}_{: $31.13}
_{Closing
Valuation, 02/01}_/2010_{: $26.26}

RealNetworks (RNWK)

Finishing Price: $4.14

Gain or Decrease: 0.00 (0.00%)

Previous Closing Price: $4.14

_{Closing
Valuation, 02/06/2009}_{: $3.11}
_{Closing
Valuation, 01/08/2010}_{: $3.80}
_{Closing
Valuation, 02/01}_/2010_{: $4.27}

Hot Topic, Inc. (HOTT)

Finishing Price: $5.31
Gain or Decrease: 0.00 (0.00%)
Previous Closing Price: $5.31
_{Closing
Valuation, 02/06/2009}_{: $9.57}
_{Closing
Valuation, 01/08/2010}_{: $5.61}
_{Closing
Valuation, 02/01}_/2010_{: $5.73}

Recording, Label

Warner Music Group (WMG)

Finishing Price: $4.79

Gain or Decrease: Down 0.21 (4.20%)

Previous Closing Price: $5.00

_{Closing Valuation,
02/06/2009}_{: $2.47}
_{Closing Valuation,
01/08/2010}_{: $5.90}
_{Closing Valuation, 02/01}_/2010_{:
$4.94}

Live Performance

Live Nation (LYV)

Finishing Price: $11.63

Gain or Decrease: Down 0.28 (2.35%)

Previous Closing Price: $11.91

_{Closing Valuation,
02/06/2009}_{: $5.30}
_{Closing Valuation,
01/08/2010}_{: $9.64}
_{Closing Valuation, 02/01}_/2010_{:
$11.53}

B2B, Music-Related Services

The Orchard (ORCD)

Finishing Price: $1.69

Gain or Decrease: Down 0.08 (4.52%)

Previous Closing Price: $1.77

_{Closing Valuation,
02/06/2009}_{: $2.20}
_{Closing Valuation,
01/08/2010}_{: $1.62}
_{Closing Valuation, 02/01}_/2010_{:
$1.80}

Rovi Corporation (ROVI)

Finishing Price: $28.04

Gain or Decrease: Down 0.18 (0.64%)

Previous Closing Price: $28.22
_{Closing Valuation, 02/06/2009}_{:
$13.95}
_{Closing Valuation, 01/08/2010}_{:
$31.93}
_{Closing Valuation, 02/01}_/2010_{:
$28.44}

Rentrak Corporation (RENT)

Finishing Price: $17.37
Gain or Decrease: Up 1.61 (10.22%)
Previous Closing Price: $15.76
_{Closing Valuation, 02/06/2009}_{:
$12.48}
_{Closing Valuation, 01/08/2010}_{:
$18.05}
_{Closing Valuation, 02/01}_/2010_{:
$16.01}

Traditional Retail

Hastings Entertainment, Inc. (HAST)

Finishing Price: $4.04
Gain or Decrease: Down 0.1398 (3.34%)
Previous Closing Price: $4.1799
_{Closing Valuation, 02/06/2009}_{:
$2.39}
_{Closing Valuation, 01/08/2010}_{:
$4.47}
_{Closing Valuation, 02/01}_/2010_{:
$4.19}

Trans World Entertainment Corporation (TWMC)

Finishing Price: $1.37
Gain or Decrease: Up 0.01 (0.74%)
Previous Closing Price: $1.36
_{Closing
Valuation, 02/06/2009}_{: $0.83}
_{Closing
Valuation, 01/08/2010}_{: $1.52}
_{Closing
Valuation, 02/01}_/2010_{: $1.39}

Satellite Radio

Sirius XM Radio (SIRI)

Finishing Price: $0.83
Gain or Decrease: Down 0.02 (2.87%)
Previous Closing Price: $0.86
_{Closing
Valuation, 02/06/2009}_{: $0.13}
_{Closing
Valuation, 01/08/2010}_{: $0.67}
_{Closing
Valuation, 02/01}_/2010_{: $0.88}

Publishing

Chrysalis Group PLC (CHS.L; London)

Finishing Price: $104.60

Gain or Decrease: Down 0.90 (0.85%)

Previous Closing Price: $105.50
_{Closing Valuation, 02/06/2009}_{: $60.50}
_{Closing
Valuation, 01/08/2010}_{: $112.70}
_{Closing
Valuation, 02/01}_/2010_{: $98.00}

Terrestrial Radio

CBS Corporation (CBS)

Finishing Price: $12.72
Gain or Decrease: Down 0.23 (1.78%)
Previous Closing Price: $12.95
_{Closing Valuation, 02/06/2009}_{:
$6.40}
_{Closing Valuation, 01/08/2010}_{:
$14.15}
_{Closing Valuation, 02/01}_/2010_{:
$13.29}

Cumulus Media Inc. (CMLS)

Finishing Price: $2.45
Gain or Decrease: Up 0.03 (1.24%)
Previous Closing Price: $2.42
_{Closing Valuation, 02/06/2009}_{:
$2.00}
_{Closing Valuation, 01/08/2010}_{:
$2.33}
_{Closing Valuation, 02/01}_/2010_{:
$2.41}

Saga Communications Inc. (SGA)

Finishing Price: $13.35

Gain or Decrease: Down 0.05 (0.37%)

Previous Closing Price: $13.40

_{Closing Valuation,
02/06/2009}_{: $4.05}
_{Closing Valuation,
01/08/2010}_{: $12.68}
_{Closing Valuation,
02/01}_/2010_{: $13.16}

Emmis Communications Corporation (EMMS)

Finishing Price: $1.15

Gain or Decrease: Up 0.02 (1.77%)

Previous Closing Price: $1.13

_{Closing Valuation,
02/06/2009}_{: $0.37}
_{Closing Valuation,
01/08/2010}_{: $1.17}
_{Closing Valuation, 02/01}_/2010_{:
$1.16}

Salem Communications Corp. (SALM)

Finishing Price: $4.83
Gain or Decrease: Down 0.01 (0.21%)
Previous Closing Price: $4.84
_{Closing Valuation, 02/06/2009}_{:
$0.85}
_{Closing Valuation, 01/08/2010}_{:
$5.40}
_{Closing Valuation, 02/01}_/2010_{:
$5.18}

Radio One, Inc. (ROIA)

Finishing Price: $3.97

Gain or Decrease: Down 0.13 (3.17%)

Previous Closing Price: $4.10

_{Closing Valuation,
02/06/2009}_{: $0.32}
_{Closing Valuation,
01/08/2010}_{: $3.67}
_{Closing Valuation, 02/01}_/2010_{:
$3.84}

Beasley Broadcast Group Inc. (BBGI)

Finishing Price: $3.58

Gain or Decrease: Up 0.07 (1.99%)

Previous Closing Price: $3.51

_{Closing Valuation,
02/06/2009}_{: $2.18}
_{Closing Valuation,
01/08/2010}_{: $3.50}
_{Closing Valuation, 02/01}_/2010_{:
$3.45}

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