Dream Wired
No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
No Result
View All Result
Dream Wired
No Result
View All Result
Home Music

SiriusXM, Deezer Share Prices See Big Gains & More Music Stock News

rmtsa by rmtsa
July 6, 2024
in Music
0
SiriusXM, Deezer Share Prices See Big Gains & More Music Stock News
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

Offset, Kid Cudi, Earl Sweatshirt and More

Sammy Hagar Celebrates Van Halen With ‘The Residency’ Live Album

Offset Reflects On Takeoff’s Death On New Song

Leading all music stocks this week, SiriusXM shares rose as high as $4.14 on Friday (July 5), its highest point since March 13, and closed at $3.71, up 31.1%. The satellite radio company, which also owns music streaming service Pandora and has high hopes for its revamped SiriusXM streaming app, is likely benefitting from an upcoming 10-to-1 reverse stock split and merger with Liberty Media’s SiriusXM Group tracking stock. The merger eliminates any confusion amongst investors by creating only one way to invest in SiriusXM. And although the split doesn’t affect the company’s value, it will increase the share price by reducing the number of shares outstanding. That, in turn, could help SiriusXM’s image with investors and further help prop up the share price. 

French streaming company Deezer rose 20.3% to 2.07 euros ($2.25) after it completed a public offering that transferred shares from the professional to the general segment of the Euronext Paris. (The professional segment is dedicated to companies that did not have an initial public offering or sale of shares. Deezer gained entry to the Euronext Paris through a merger with I2PO, a special purpose acquisition company, in 2022.) With that improvement, Deezer’s year-to-date loss improved to 12.3% from 19.2% a week ago. The company will report first-half earnings results on July 30. 

The Billboard Global Music Index (BGMI) rose 1.6% to 1,844.87, nearly matching the all-time record of 1,847.64 set the week ended May 17, with the large gains enjoyed by SiriusXM and Deezer helping offset losses by 11 of the index’s 20 stocks. The index’s most valuable companies had small gains this week: Live Nation rose 1.7% to $95.34, Universal Music Group added 0.9% to 28.03 euros ($30.41) and Spotify gained 0.8% to finish at $316.85. 

Music stocks couldn’t match many major indexes this week. In the United States, the Nasdaq composite gained 3.5% to 18,352.76 and the S&P 500 rose 2.0% to 5,567.19 — both record closes. Stocks were aided by data released on Friday by the U.S. Labor Department that showed that the economy added more jobs than expected in June while the increase in hourly earnings met expectations. The rise in the unemployment rate rise from 4.0% to 4.1% was a surprise, however.

Internationally, the U.K.’s FTSE 100 improved 0.5% to 8,203.93. South Korea’s KOSPI composite index gained 2.3% to 2,862.23. China’s Shanghai Composite Index dropped 0.6% to 2,949.93. 

Sphere Entertainment Co. improved 6.8% to $37.43, bringing its year-to-date gain to 10.1%. On Wednesday (July 3), the company announced it had given executive chairman/CEO James Dolan a new three-year employment contract that runs through June 30, 2027. That ensures Dolan will continue to oversee the growth of Sphere in Las Vegas and additional locations the company will target. Looking ahead, Dead & Company’s 30-show residency at the venue concludes on Aug. 10 while the Eagles will begin a 16-date residency — eight weekends of Friday and Saturday concerts — on Sept. 20.

Music streaming company LiveOne fell 14.6% to $1.34, putting the stock down 4.3% year to date. On Monday (July 1), the company announced a partnership with Seekr to build an AI-powered search engine for beats and sounds. The platform, expected to launch by the end of the year, is intended to help creators and music licensors.

Korean companies continued to struggle this week. HYBE fell 2.5% to 197,400 won ($143.30), bringing its year-to-date loss to 15.5%. SM Entertainment fell 3.5% to 77,600 won ($56.33) and has fallen 15.7% in 2024. Two K-pop companies not in the Billboard Global Music Index fared even worse: JYP Entertainment, home to TWICE and Stray Kids, dropped 2.8% to 55,700 won ($40.43) and has fallen 45% this year; while YG Entertainment, home to BLACKPINK and BABYMONSTER, sank 5.3% to 38,150 won ($27.69) and has lost 25% year to date. 



Source link

Tags: BigDeezerGainsmusicNewsPricesShareSiriusXMStock
Share30Tweet19
rmtsa

rmtsa

Recommended For You

Offset, Kid Cudi, Earl Sweatshirt and More

by rmtsa
August 22, 2025
0
Offset, Kid Cudi, Earl Sweatshirt and More

With another work week coming to an end, it's time to press play on the latest hip-hop offerings. This week, a former Migos member puts out his latest...

Read more

Sammy Hagar Celebrates Van Halen With ‘The Residency’ Live Album

by rmtsa
August 22, 2025
0
Sammy Hagar Celebrates Van Halen With ‘The Residency’ Live Album

Sammy Hagar will continue his celebration of Van Halen with the Oct. 10 release of The Residency, a live album recorded during his recent Best of All Worlds...

Read more

Offset Reflects On Takeoff’s Death On New Song

by rmtsa
August 22, 2025
0
Offset Reflects On Takeoff’s Death On New Song

Offset has found himself reflecting on Takeoff’s death on his new song “Never Let Go” from his album KIARA. On the track, he raps: “Play back all the...

Read more

Unpacking the New Album, Ozzy Memories + More

by rmtsa
August 22, 2025
0
Unpacking the New Album, Ozzy Memories + More

A couple of nights before the release of their 10th studio album, Private Music, the majority of the Deftones joined Loudwire Nights (Aug. 20) to celebrate getting to...

Read more

Oasis Tour Merch Store Opens in Los Angeles: Photos

by rmtsa
August 22, 2025
0
Oasis Tour Merch Store Opens in Los Angeles: Photos

The band’s Los Angeles shows may still be weeks away, but Oasis fever has already reached Los Angeles, with the Wednesday (Aug. 20) opening of the Oasis Live...

Read more
Next Post
‘Bachelor’Joey Graziadei Has Disagreement With Kelsey Anderson – Hollywood Life

‘Bachelor’Joey Graziadei Has Disagreement With Kelsey Anderson – Hollywood Life

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized

CATEGORIES

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized
No Result
View All Result

Recent News

  • “The Whole Script Was About Her” — GeekTyrant
  • Offset, Kid Cudi, Earl Sweatshirt and More
  • Man Who Attempted To Rape 7-Year-Old Girl Agrees to Be Castrated as Part of Plea Deal • Hollywood Unlocked

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In