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Wall Street Keeps Warming to Warner Music...

Tuesday, April 14, 2009
by  presnikoff

Wall Street keeps warming to Warner Music Group (WMG), thanks largely to an earlier upgrade by Goldman Sachs.  In Tuesday trading, shares of Warner boosted 14.16 percent, landing at an unfamiliar $4.03.  Just one day earlier, shares surged 14.61 percent to $3.61.  

In broader trading, a disappointing retail report and news of lowering wholesale prices pushed shares southward.  At the bell, the Dow slipped 137.63 points, or 1.7 percent, to land at 7,920.18, a critical sub-8,000 result.

That caused a number of music-related stocks to drop.  Apple (AAPL) slipped 1.59 percent to $1.91, and RealNetworks ceded 8.34 percent to $2.28.  Live Nation (LYV) edged downward, while Ticketmaster (TKTM) and the Orchard (ORCD) enjoyed slight gains.


Dow Jones Industrial Average (DJIA)

  • Finishing Price: 7,920.18
  • Gain or Decrease: Down 137.63 (1.71%)
  • Previous Closing Price: 8,057.81
  • Closing Valuation, 04/14/2008: 12,302.06
  • Closing Valuation, 01/14/2009: 8,200.14
  • Closing Valuation, 04/07/2009: 7,789.56


NASDAQ Composite (IXIC)

  • Finishing Price: 1,625.72
  • Gain or Decrease: Down 27.59 (1.67%)
  • Previous Closing Price: 1,653.31
  • Closing Valuation, 04/14/2008: 2,275.82
  • Closing Valuation, 01/14/2009: 1,489.64
  • Closing Valuation, 04/07/2009: 1,561.61   


S&P 500 (GSPC)

  • Finishing Price: $841.50
  • Gain or Decrease: Down 17.23 (2.01%)
  • Previous Closing Price: $858.73
  • Closing Valuation, 04/14/2008: $1,328.32
  • Closing Valuation, 01/14/2009: $842.62
  • Closing Valuation, 04/07/2009: $815.55


Apple (AAPL)

  • Finishing Price: $118.31
  • Gain or Decrease: Down 1.91 (1.59%)
  • Previous Closing Price: $120.22
  • Closing Valuation, 04/14/2008: $147.78   
  • Closing Valuation, 01/14/2009: $85.33
  • Closing Valuation, 04/07/2009: $115.00


Warner Music Group (WMG)

  • Finishing Price: $4.03   
  • Gain or Decrease: Up 0.50 (14.16%)
  • Previous Closing Price: $3.53
  • Closing Valuation, 04/14/2008: $6.40
  • Closing Valuation, 01/14/2009: $2.36
  • Closing Valuation, 04/07/2009: $2.85


Live Nation (LYV)

  • Finishing Price: $2.90
  • Gain or Decrease: Down 0.02 (0.68%)
  • Previous Closing Price: $2.92
  • Closing Valuation, 04/14/2008: $12.47
  • Closing Valuation, 01/14/2009: $5.02
  • Closing Valuation, 04/07/2009: $2.76


Ticketmaster (TKTM)

  • Finishing Price: $3.95
  • Gain or Decrease: Up 0.06 (1.54%)
  • Previous Closing Price: $3.89
  • Closing Valuation, 08/14/2008: $21.75
  • Closing Valuation, 01/14/2009: $6.85
  • Closing Valuation, 04/07/2009: $3.74


SanDisk (SNDK)

  • Finishing Price: $13.62
  • Gain or Decrease: Down 0.80 (5.55%)
  • Previous Closing Price: $14.42
  • Closing Valuation, 04/14/2008: $25.36
  • Closing Valuation, 01/14/2009: $10.82
  • Closing Valuation, 04/07/2009: $12.76


The Orchard (ORCD)

  • Finishing Price: $1.84
  • Gain or Decrease: Up 0.03 (1.66%)
  • Previous Closing Price: $1.81
  • Closing Valuation, 04/14/2008: $5.49
  • Closing Valuation, 01/14/2009: $2.10
  • Closing Valuation, 04/07/2009: $1.63


Source Interlink Companies (SORC)

  • Finishing Price: $0.13
  • Gain or Decrease: 0.00 (0.00%)
  • Previous Closing Price: $0.13
  • Closing Valuation, 04/14/2008: $1.33
  • Closing Valuation, 01/14/2009: $0.15
  • Closing Valuation, 04/07/2009: $0.15


Sirius XM Radio (SIRI)

  • Finishing Price: $0.35
  • Gain or Decrease: Down 0.0096 (2.67%)
  • Previous Closing Price: $0.36
  • Closing Valuation, 04/14/2008: $2.44
  • Closing Valuation, 01/14/2009: $0.12
  • Closing Valuation, 04/07/2009: $0.34


RealNetworks (RNWK)

  • Finishing Price: $2.28
  • Gain or Decrease: Down 0.21 (8.34%)
  • Previous Closing Price: $2.49
  • Closing Valuation, 04/14/2008: $5.97
  • Closing Valuation, 01/14/2009: $3.10
  • Closing Valuation, 04/07/2009: $2.38

 



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