Live Nation Entertainment (LYV), a business centered on music concerts, one that counts Madonna and U2 among its portfolio of artists, promoted its fourth-quarter numbers earlier in the week. After browsing the data, and considering comments on guidance, I'm not sure I would want to buy the stock, even after seeing that it closed on Friday at a 52-week high.

According to BusinessWeek, Live Nation booked an operating loss of $64 million during the three-month period (adjusted operating income was positive, however). Sales went down well over 4%. Free cash flow for the full year, though, as detailed in a table right at the beginning of the press release, came in at nearly $59 million. That table also provides financial information for Ticketmaster, which recently merged with Live Nation.

Continue reading Live Nation: Buy or Avoid After Q4 Performance?

Live Nation: Buy or Avoid After Q4 Performance? originally appeared on BloggingStocks on Sat, 27 Feb 2010 12:10:00 EST. Please see our terms for use of feeds.

Live Nation (NYSE: LYV), a producer of live concerts, closed at $7.19. LYV is expected to report Q3 EPS soon. LYV and Ticket master (NASDAQ: TKTM) announced a merger of equals in February 2009. Antitrust regulators have been reviewing the merger. LYV November option implied volatility is at 73, December is at 70; verses its 26-week average of 79, according to Track Data, suggesting decreasing price movement.

Ticket master closed at $10.59. TKTM November option implied volatility is at 66, December is at 63; verses its 26-week average of 73, according to Track Data, suggesting decreasing price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Options Update: Live Nation volatility low into EPS and Ticketmaster merger originally appeared on BloggingStocks on Tue, 27 Oct 2009 08:00:00 EST. Please see our terms for use of feeds.

Warner Music (NYSE: WMG) closed at $5.11. WMG August and November option implied volatility of 92 is near its 26-week average of 96, according to Track Data, suggesting non-directional price movement.

Live Nation (NYSE: LYV) a producer of live concerts, closed at $4.70. LYV over all option implied volatility of 77 is below its 26-week average of 109, according to Track Data, suggesting decreasing price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Options Update: Warner Music volatility flat, Live Nation low originally appeared on BloggingStocks on Fri, 26 Jun 2009 08:50:00 EST. Please see our terms for use of feeds.

For the first quarter, Live Nation said that revenues dipped by over 6%. Currency translations affected the top line, so if you strip them out, you get an increase of nearly 3%. The loss from continuing operations expanded by an earsplitting 40% to $1.29 per share. According to this news article, analysts were looking for a loss of only $0.82 per share.

Continue reading Live Nation's Q1 misses expectations by significant amount

Live Nation's Q1 misses expectations by significant amount originally appeared on BloggingStocks on Fri, 08 May 2009 15:20:00 EST. Please see our terms for use of feeds.

Continue reading Ticketmaster receives subpoenas from the U.S. Justice Department

Ticketmaster receives subpoenas from the U.S. Justice Department originally appeared on BloggingStocks on Mon, 06 Apr 2009 14:00:00 EST. Please see our terms for use of feeds.

Live Nation (NYSE: LYV), the big, famous concert promoter that counts Madonna as a member of its roster, reported dismal Q4 results on Monday after the bell. A huge write-down in goodwill related to a bad decline in market capitalization led to a loss per share of $4.33. That was many times more than the year-ago loss of 25 cents per share in the similar period. According to this source, Live Nation lost 89 cents per share on an adjusted basis. Wall Street was thinking that maybe the promoter would lose 22 cents per share. Quite the disparity there, eh?

Looking through the press release, I see that there's a lot going on in terms of acquisitions and adjustments. Overall, I came away less than thrilled with the business. I wasn't taken by the statement of cash flows, and I have to wonder how difficult it will be to close on the Ticketmaster (NASDAQ: TKTM) merger. There's talk of antitrust issues.

Continue reading Live Nation not so lively in Q4

Live Nation not so lively in Q4 originally appeared on BloggingStocks on Tue, 03 Mar 2009 08:20:00 EST. Please see our terms for use of feeds.

Analyst upgrades:

• Baird upgraded Starwood Hotels (NYSE: HOT), Host Hotels (NYSE: HST) and Marriott (NYSE: MAR) to Outperform from Neutral based on valuation and indications that negative sentiment has reached a bottom.
• Citigroup upgraded Torchmark (NYSE: TMK) to Buy from Hold as they find the valuation attractive and think management can grow earnings and book value in 2009/2010. Despite upgrading, the firm lowered their target price to $37 from $45.
• ASM International (NASDAQ: ASMI) was added to Goldman's Conviction Buy List.
• Credit Suisse (NYSE: CS) was raised to Overweight from Equal Weight at Morgan Stanley.
• Live Nation (NYSE: LYV) was upgraded at Natixis to Buy from Hold.

Continue reading Analyst upgrades, downgrades and initiations: HOT, GOOG, WPI, LYG ...

Analyst upgrades, downgrades and initiations: HOT, GOOG, WPI, LYG ... originally appeared on BloggingStocks on Tue, 17 Feb 2009 10:55:00 EST. Please see our terms for use of feeds.

Canadian rock band Nickelback latest music act to join Live Nation originally appeared on BloggingStocks on Tue, 08 Jul 2008 17:13:00 EST. Please see our terms for use of feeds.

Bono applauds Radiohead for the method used to release 'In Rainbows' originally appeared on BloggingStocks on Mon, 30 Jun 2008 18:46:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• The stock is up 150% over the last year but with its move into the consumer marker BlackBerry maker Research in Motion Limited (NASDAQ: RIMM) is entering the fickle world of consumer trendiness, reported the Wall Street Journal's "Heard on the Street". Analysts are concerned about how big the consumer market can be for them, and then there's Apple Inc (NASDAQ: AAPL) and Nokia Corporation (NYSE: NOK) beating down the consumer path. Smart products will help, but price is an issue, and the shares could face a hard fall.
• The Wall Street Journal reported that Wachovia Corporation (NYSE: WB) acknowledged it has hired The Goldman Sachs Group Inc (NYSE: GS) to study its troubled portfolios of mortgages, a move which many believe indicates the bank is gauging the market value of the loans in order to eventually sell them.

• Lazard Ltd (NYSE: LAZ) was hired by UBS AG (NYSE: UBS) to undertake a strategic review of the Swiss bank's businesses, the New York Post learned.
• The New York Post also reported some reported turmoil at Live Nation Inc (NYSE: LYV), following the abrupt departure of the concert promoter's chairman, Michael Cohl. Employees in the unit that was led by Cohl fear that the company will lay some of them off, and CEO Michael Rapino is accused of not being strongly committed to the company's mega-deal strategy.
• The Boston Herald reported that its unions were told the newspaper will lay off 130 to 160 workers, under its new plan to outsource printing operations elsewhere in the state.

Newspaper wrap-up: UBS reportedly hires Lazard to conduct strategic review originally appeared on BloggingStocks on Wed, 25 Jun 2008 08:00:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• Last November, Google Inc (NASDAQ: GOOG) and 30 partners were said be developing a new type of handset using Android that was expected to revolutionize the industry. The first new phones were expected to be available in this year's second half but are now slated for the fourth quarter the Wall Street Journal reported.
• According to people familiar with the situation, the Wall Street Journal reported that Citigroup Incorporated (NYSE: C) will make sharp cuts in its investment banking division this week.
• The Wall Street Journal reported that Live Nation Inc's (NYSE: LYV) Chairman, Michael Cohl, stepped down down as a director and executive to end the strategy feud with CEO Michael Rapino. over how to pursue the "360 deals" with music superstars.
• The Financial Times reported that there are worries that investment banks will accelerate the pace of their layoffs this summer, after it became known that The Goldman Sachs Group Inc (NYSE: GS) gave pink slips to workers in its investment banking division last week. Goldman is now expected to lay off up to 10% of the workers at the division.

• New Jersey put its $150M center for stem cell research on hold, the Star Ledger reported, eight months after ground was broken on the project.

Newspaper wrap-up: Google's plans for cellphone delayed originally appeared on BloggingStocks on Mon, 23 Jun 2008 08:47:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• The Wall Street Journal reported that, in an attempt to move past its takeover battle with Microsoft Corporation (NASDAQ: MSFT), Yahoo! Inc (NASDAQ: YHOO) is planning a reorganization. People familiar with the matter said executives are discussing a plan to centralize numerous product groups into a global-product organization. Details may be announced next week.
• The Wall Street Journal also reported that an internal feud at Live Nation Inc (NYSE: LYV) over strategy may soon be resolved, as the concert promoter is reportedly negotiating the exit of chairman Michael Cohl.

• A recommendation by an Australian commission to open Rio Tinto Group's (NYSE: RTP) Pilbara railway to third parties could cost $30B if the idea is implemented, Rio contended and the Australian reported. The National Competition Commission, which advises Australian governments on infrastructure issues, has suggested that Fortescue Metals Group be given access to certain rail lines operated by Rio Tinto.

• A joint investigation by CBC News and the Canadian Press found one-third of people shot by Taser International Inc's (NASDAQ: TASR) Tasers reportedly required some medical attention, Engadget reported.
• TechCrunch confirmed that Joshua Schachter, the founder of delicious, will resign from Yahoo!. Sources believe the near-stalled development of the new version of delicious may have played a part in his resignation.

Newspaper wrap-up: Yahoo! reportedly plans reorganization originally appeared on BloggingStocks on Fri, 20 Jun 2008 08:05:00 EST. Please see our terms for use of feeds.

Rolling Stones rumored to defect EMI for Live Nation originally appeared on BloggingStocks on Mon, 16 Jun 2008 17:29:00 EST. Please see our terms for use of feeds.

U2 manager calls for ISPs to join future-setting music industry originally appeared on BloggingStocks on Wed, 04 Jun 2008 17:10:00 EST. Please see our terms for use of feeds.

The deal could be worth $150 million. Live Nation (NYSE:LYV), which is normally in the concert business, is close to a 10-year deal that would give that company a piece of every aspect of the business dealings of rapper Jay-Z. The arrangement could hardly be more broad. According to The Wall Street Journal: "Live Nation would underwrite other of Mr. Carter's (Jay-Z) business ventures in areas such as clothing, out of a fund of $25 million; in the past, Mr. Carter has been involved in clothing and nightclub businesses."

The contract is a huge risk for Live Nation, and one that it probably should not take. Shares in the company have fallen from a 52-week high of $24.09 to $12.70. The firm's profits have been unusually modest. In the final quarter of 2007, LYV had operating income of $4 million on revenue of just of $1 billion. Debt service cost the company $16.6 million. The company has long-term debt of just under $1 billion.

While signing up huge stars for long contracts may seem to be attractive, a lot can go wrong over ten years, especially if the star in question loses much of his popularity. Live Nation has a similar deal with Madonna. Perhaps that is why the company's shares have done so poorly

Douglas A. McIntyre is an editor at 247wallst.com.

Live Nation (LYV) makes huge bet on Jay-Z originally appeared on BloggingStocks on Thu, 03 Apr 2008 08:39:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• HSBC downgraded Novartis (NYSE: NVS) to Underweight from Neutral, as they believe the company's mid-single digit pharma sales growth is not sustainable.
  
• AIG (NYSE: AIG) was downgraded to Market Perform from Outperform by Keefe Bruyette due to their concerns about the company's deteriorating profit trends.
  
• Diageo (NYSE: DEO) was lowered to Neutral from Buy by Goldman Sachs to reflect a lack of near-term catalysts.
  
• Deutsche Bank downgraded BEA Systems (NASDAQ: BEAS) to Hold from Buy, as they believe it is likely that the acquisition will close in April.

• Live Nation (NYSE: LYV) was dropped to Hold from Buy by Morgan Joseph.
• Jackson Hewitt (NYSE: JTX) was dropped to Neutral from Buy at FTN Midwest.
• Roth Capital downgraded Collagenex (NASDAQ: CGPI) to Hold from Buy.
• Credit Suisse lowered MFA Mortgage (NYSE: MFA) to Neutral from Outperform.

Analyst downgrades: NVS, AIG, DEO and BEAS originally appeared on BloggingStocks on Fri, 29 Feb 2008 11:38:00 EST. Please see our terms for use of feeds.

Rumors now frequently circulate about massive music acts leaving their long-term record labels. Last spring Paul McCartney defected from EMI after 45 years to join Starbucks' (NASDAQ: SBUX) Hear Music label. Madonna left Warner Music Group (NYSE: WMG) last fall. Other artists have followed suit, while some who are still signed have started speaking out against their labels. In this most recent case, Irish rock band U2 is rumored to be leaving Vivendi's Universal Music Group to sign up with Live Nation (NYSE: LYV).

Although I wouldn't blame the artists for leaving their labels, as long as it is in their best interests and increases fans accessibility to the music, it is certainly going to affect the record industry long-term if the defections continue. At the same time, many critics and bloggers would point out that the acts switching labels are already past their prime -- their big hits and money-making lies with albums that came while they were at the labels. That may be true for acts like McCartney, U2, and Madonna, but the best example of this -- Radiohead -- is hardly through making the huge hits they enjoyed while with a major record label.

Radiohead, if you remember, is that "little" band that caused such a stir last October when it decided to release its new album, In Rainbows, to fans in a pay-what-you-want model. When the album was released on CD earlier this year it hit #1 in numerous charts around the world.

Obviously, none of these acts would have achieved such huge successes without major record labels, and it is impossible to say that the future of the record industry is without music labels. These rumors and the actual occurrences indicate that companies like Live Nation and Starbucks, while not necessarily oriented primarily for music distribution, are making better gains than the labels. This will not be ignored for long so the rumors may cease, and only indicates the movement music acts are making for the time being.

U2 rumored to leave major record label originally appeared on BloggingStocks on Thu, 07 Feb 2008 15:41:00 EST. Please see our terms for use of feeds.

Continue reading Live Nation: A key player with music players

Live Nation: A key player with music players originally appeared on BloggingStocks on Tue, 22 Jan 2008 16:19:00 EST. Please see our terms for use of feeds.

Warner Music Group profits fall off originally appeared on BloggingStocks on Thu, 29 Nov 2007 13:01:00 EST. Please see our terms for use of feeds.

Madonna's Warner (WMG) departure: Are artists taking back control? originally appeared on BloggingStocks on Thu, 11 Oct 2007 15:20:00 EST. Please see our terms for use of feeds.