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Thursday, August 8, 2013

Live Nation shares

MORE FUN WITH NUMBERS: As you read earlier on our site, Live Nation shares spiked nearly 10% immediately after the company released its forecast-beating Q2 numbers on Tuesday. Well, they were "going to 11 " as the week wore on, noted finance funsters The Motley Fool, referencing Spinal Tap guitarist Nigel Tufnel's amp setting but actually meaning not 11 but 13, as in 13%. That's how much LN shares (NYSE: LYV) had risen in the aftermath of the report, with earnings per share at $0.30, triple what analysts anticipated; they're up another 2.4% today at $18.76. CEO Michael Rapino is promising more good news as LN's "record summer" is buoyed by tours like the Jay Z-Justin Timberlake Legends of the Summer trek, Beyonce, Taylor Swift, Selena Gomez, NKOTB, Backstreet Boys, Macklemore, the Honda Civic Tour with Maroon 5 and more. "It looks like an especially strong season for the concert industry," Motley's Jeremy Bowman noted; that's starting to sound like an understatement. (8/8p)

 
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