Post-Merger, Wall Street Sells Live Nation, Ticketmaster

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Was it the merger, or a generally dismal day on Wall Street?

Perhaps both, but at the bell on Tuesday, investors pushed shares of both Live Nation (LYV) and Ticketmaster (TKTM) southward.  Some of that sentiment was already baked into the stocks, though Live Nation dropped 8.88 percent to $4.82, and Ticketmaster slipped 6.39 percent to $6.15.

The rest of the market was mostly bad news, and music-related stocks found themselves caught in the storm.  Amidst a crisis of confidence over the competency of the government to resuscitate the sinking economy, the Dow Jones dropped 382 points, or 4.62 percent, to 7,889.  That helped to deflate earlier gains enjoyed by Warner Music Group (WMG), a stock that slumped 5.7 percent to $2.15 on Tuesday.  Apple (AAPL) also found itself sub-$100, dropping 4.57 percent to $97.83.

Others also slipped.  SanDisk (SNDK) shed 2.7 percent to $10.82; RealNetworks (RNWK) dropped 4.75 percent to $3.01; and The Orchard (ORCD) edged downward 6.1 percent to $2.

Elsewhere, bottom-crawling Sirius XM Radio (SIRI) added 3.55 percent to 11.4-cents, despite bankruptcy rumors.  Source Interlink Companies (SORC) gained 5.04 percent to 10-cents even.

Report by analyst Alexandra Osorio