Market Currents

• Tuesday, November 24, 2009

• 07:28 AM Warner Music Group (WMG): FQ4 EPS of -$0.03 misses by $0.08. Revenue of $861M (+0.8%) vs. $820M. (PR) 1 Comment
• 00:05 AM Notable premarket earnings: AEO, BKS, DLTR, EV, HNZ, HRL, MDT, VIP, WMG 1 Comment

• Tuesday, September 29, 2009

• 07:58 AM Sources say Warner Music Group (WMG) and YouTube (GOOG) are close to settling their licensing dispute. The proposal would give Warner the right to sell ads that run next to its videos and receive the bulk of the revenue, a formula Google has used to resolve a number of recent disputes with content owners looking for greater monetization. Comment!

• Monday, September 21, 2009

• 10:50 AM Vodafone (VOD -1%) inks a deal with Warner Music Group (WMG +1.1%), which it says makes it the first wireless operator to offer over-the-air access to DRM-free music from all four major labels after previous deals with EMI, Universal and Sony (SNE). Comment!

• Monday, July 27, 2009

• 08:22 AM Apple (AAPL) teams up with EMI, Sony Music (SNE), Warner Music (WMG) and Universal Music Group to push digital album sales by including an interactive booklet, sleeve notes and other features with music downloads. Comment!

• Tuesday, May 26, 2009

• 08:59 AM Based on Warner Music Group's (WMG) 25% gain last week, and the enthusiastic reception of its $500M debt offering, investors seem to think this pure-play music stock has some serious upside. Could an EMI acquisition be brewing? Comment!

• Thursday, May 7, 2009

• 08:30 AM Warner Music Group (WMG): FQ2 EPS of -$0.23 beats by $0.02. Revenue of $668M vs. $739M. (PR) Comment!

• Thursday, February 5, 2009

• 08:05 AM Warner Music Group (WMG): FQ1 EPS of -$0.09 beats by $0.04. Revenue of $878M vs. $914M. (PR) Comment!

• Thursday, January 15, 2009

• 07:23 AM How Warner Music (WMG) torpedoed Facebook Music. Comment!

• Tuesday, January 6, 2009

• 10:20 AM iTunes (AAPL) will be removing DRM from Sony (SNE), Universal and Warner (WMG) tracks. In exchange, the labels get to introduce some 'flexible pricing,' a key industry demand. The move could be a boost for iTunes sales, or not. Comment!

• Monday, December 22, 2008

• 08:51 AM Warner Music Group (WMG) orders YouTube (GOOG) to pull all its music videos after contract negotiations break down. Comment!

• Tuesday, September 2, 2008

• 06:28 AM Nokia (NOK) will launch its new Comes With Music mobile music service in the UK next month. Universal, Sony BMG (SNE) and Warner (WMG) are already on board. Comment!

• Thursday, August 14, 2008

• 11:16 AM NY Post says Cherry Lane Music Publishing is on the block. Universal, Warner (WMG) and Sony (SNE) will likely kick the tires. Starbucks (SBUX) partner Concord Music may also take a look. Comment!

• Thursday, August 7, 2008

• 06:48 AM Warner Music Group (WMG): FQ3 EPS of -$0.06 beats by $0.12. Revenue of $848M (+5.5%) vs. $769M. [PR] Comment!

• Wednesday, August 6, 2008

• 07:54 AM Sony (SNE) pays $900M to buy out Bertelsmann, its JV partner in Sony BMG. That's just 4.5x 2008 earnings before interest, taxes, depreciation, and amortization [Ebitda], analyst Richard Greenfield notes. Rival Warner Music Group (WMG) trades at 7x. Comment!

• Tuesday, July 1, 2008

• 06:17 AM Nokia (NOK), in its continued effort to challenge Apple's (AAPL) iTunes and iPod, adds Warner Music (WMG) to its music service - joining Universal and Sony BMG (SNE). Comment!