Bottom-Skirting Music Stocks Back for More

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Battered music stocks are now getting ready for another difficult set of sessions – that is, if recent history offers any guide.

Last week, a range of music-related stocks struggled amidst serious headwinds, including growing layoffs, elevated anxiety over the banking bailout, and a worsening housing market.  On the week, the Dow slipped 2.46 percent to 8,077.56.

In that soup, Warner Music Group (WMG) hit an all-time low of $2.07, and ultimately slipped 7.8 percent to $2.13 on the week.  Apple (AAPL) fell below $80 early in the week, only to bounce on a strong, holiday-quarter earnings call.  That, coupled with better-than-anticipated guidance for the current period, allowed Apple to gain 7.3 percent to $88.36 on the week.

Elsewhere, the live performance and ticketing sector ended mixed.  Live Nation (LYV) gained 5.56 percent to $5.51, while Ticketmaster (TKTM) edged downward 2.36 percent to $6.63.

Others remained in the gutter. Sirius XM Radio (SIRI) stayed mostly level at 11-cents, and Alliance owner Source Interlink Companies (SORC) dropped 12.5 percent to 14-cents.

In other weekly action, RealNetworks (RNWK) dropped 6.61 percent to $2.97, and The Orchard slipped 14 percent to $1.72.