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☆ What we'd like to see from 3 economic readings and 2 earnings reports next week
▼ + stars: | 2023-11-11 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

The major averages advanced again this week as earnings results came in largely better than expected, interest rates stabilized and oil prices dropped below $80 a barrel. Looking ahead, we'll get a couple more earnings results and some key inflationary data to chew on. In this past week, we bought 150 shares of DuPont (DD) and added 75 shares of Wynn Resorts (WYNN). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Wynn Resort's, WYNN, we'll, That's, —, we're, it's, PANW, Tyson, Henry Schein, Spero, Sanara, Sara Lee Corp, JD.com, Woodward, Jim Cramer's, Jim Cramer, Jim, Mario Anzuoni Organizations: Nasdaq, Dow Jones, Coterra Energy, Emerson, Disney, PPI, TJX, Palo Alto Networks, DuPont, Wynn Resorts, WYNN, Tyson Foods, TSN, Tower Semiconductor, Partners, Genius Sports, Spero Therapeutics, Star Bulk Carriers Corp, Beauty Health, Asure, Gladstone Capital Corp, TeraWulf Inc, Harrow Health, Afya, Sea, Paysafe Group Holdings, Solar Inc, Aramark Holdings Corp, Lending, Holding, BioXcel Therapeutics, IHS Inc, Rewalk Robotics, Acurx Pharmaceuticals, Energizer Holdings, Power Solutions, Rekor Systems, Wine Estates, Momentus Inc, SIGMA Lithium Corporation, AlTi, QuickLogic Corporation, Arcturus Therapeutics, Dada Nexus, Solutions, Target Corp, Parts, ZIM Integrated Shipping Services, Alto Networks, Cisco Systems, Chemical & Mining Co, PennantPark Investment Corp, Copa Holdings S.A, Walmart, Arcos Dorados Holdings, ARCO, NICE, Body, Warner Music Group Corp, Ross Stores, Homes, Dolby Laboratories Inc, American Software, ESCO Technologies, ZTO, International, BJ's Wholesale, Jim Cramer's Charitable, CNBC, Maxx Locations: Macau, Chile, Cayman, Pasadena , California

The two companies had challenged the lower court's decision that they may owe copyright damages that accrued prior to three years before plaintiff Sherman Nealy sued them. Nealy has argued that his Miami record label Music Specialist owns the rights to the 1984 song "Jam the Box" by Tony Butler, also known as Pretty Tony. Nealy said he did not learn of the alleged copyright violations until 2016, and requested damages for copyright infringement that he said started as early as 2008. Circuit Court of Appeals limited copyright damages to the three-year period before a lawsuit is filed. The case has drawn interest from music industry trade groups including the Recording Industry Association of America and National Music Publishers' Association, which also encouraged the court to take up the case.

Persons: Warner Music's, Flo Rida, Sherman Nealy, Nealy, Tony Butler, Tony, Dillard, Flo Rida's, Warner Chappell, Butler, Blake Brittain, Will Dunham Organizations: Warner Music Group Corp, WASHINGTON, U.S, Supreme, Miami, Atlantic Records, Warner, Artist Publishing, Circuit, Appeals, Recording Industry Association of America, National Music Publishers ' Association, Thomson Locations: Ayer, Florida, Atlanta, New York, San Francisco, Washington

Jay-Z speaks after being inducted into the Rock and Roll Hall of Fame, in Cleveland, Ohio, U.S. October 30, 2021. REUTERS/Gaelen Morse/File Photo Acquire Licensing RightsCompanies Warner Music Group Corp FollowSept 25 (Reuters) - Rapper Jay-Z, producer Timbaland and R&B singer Ginuwine convinced a Manhattan federal judge to dismiss a lawsuit from soul musician Ernie Hines, who alleged that they unlawfully sampled one of his songs from 1969. A representative for Warner Music (WMG.O), which is a defendant in the case, declined to comment. Hines first sued over the songs in 2019, arguing they copied part of the introduction to his song. Oetken agreed that Hines' song "borrows from a heavily used work that is in the public domain" and "adds only material that is not original enough to be copyrightable."

Persons: Jay, Gaelen Morse, Timbaland, Ginuwine, Ernie Hines, Paul Oetken, Hines, Oetken, Blake Brittain, Sonali Paul Organizations: Hall of Fame, REUTERS, Warner Music Group, U.S, District, Warner Music, Thomson Locations: Cleveland , Ohio, U.S, Manhattan, Washington

The lawsuit filed on Monday said Kante is entitled to more than $20 million in profit from the infringing music. Representatives for Kante, Lipa and WMG did not immediately respond to requests for comment on Tuesday. Kante's website said he has played the Talk Box on songs by musicians including rappers Kanye West, Big Boi and J. Cole. The lawsuit said producer Stephen Kozmeniuk approached Kante in 2019 about creating a talk-box track to use on "Levitating." "Levitating" was released on Dua Lipa's hit 2020 album "Future Nostalgia."

Persons: Singer Dua Lipa, Florion, Bosko Kante, Kante, Lipa's, WMG, Lipa, Sandy Linzer, Russell Brown, Kanye, Big, J, Cole, Stephen Kozmeniuk, DJ, Madonna, Missy Elliott, DaBaby, Blake Brittain, David Bario, Richard Chang Organizations: Singer Dua, Skanderbeg, REUTERS, Warner Music Group, Kante, Thomson Locations: Tirana, Albania, Dua Lipa, Los Angeles, British, Lipa, Washington

Companies Warner Music Group Corp FollowMay 16 (Reuters) - British singer-songwriter Ed Sheeran on Tuesday defeated a second copyright lawsuit in federal court in Manhattan over similarities between his hit "Thinking Out Loud" and Marvin Gaye's "Let's Get It On." Stanton presided over both cases, which concerned co-writer Ed Townsend's share of Gaye's 1973 classic. Townsend's heirs failed to convince jurors that Sheeran infringed their part of Townsend's copyright in the song. It sued Sheeran, his label Warner Music Group (WMG.O) and his music publisher Sony Music Publishing in 2018 after Townsend's heirs filed their lawsuit. Structured Asset Sales has filed another lawsuit against Sheeran based on its rights to Gaye's recording, which is still pending.

☆ As earnings season winds down, investors turn to Tuesday's debt ceiling meeting
▼ + stars: | 2023-05-06 | by ( Zev Fima | ) www.cnbc.com time to read: +12 min

With only a small fraction of the S & P 500 left to report quarterly earnings, investors are now turning their focus to another major hurdle for the markets and economy: the debt ceiling crisis. Earlier this week, we looked back to debt limit crisis of 2011 for potential lessons. The protracted fight ultimately ended in an agreement in early August of that year, but it was a choppy summertime ride for investors. Within the portfolio, Wynn Resorts will report Tuesday, after the closing bell, and Disney will report on Wednesday, after the closing bell. Estee Lauder (EL) and Emerson Electric (EMR) reported earnings before the opening bell.

Townsend's heirs sued Sheeran for copyright infringement in 2017, contending that "Thinking Out Loud" copied the "heart" of Gaye's song including its melody, harmony and rhythm. Testifying during the trial, Sheeran denied the copyright infringement claims, telling the jury, "I find it really insulting to devote my whole life to being a performer and a songwriter and have someone diminish it." The heirs said in a court filing that they received 22% of the writer's share of Gaye's song from Townsend. I am not and will never allow myself to be a piggy bank for anyone to shake," Sheeran said after the verdict. Sheeran won a trial in London last year in a separate copyright case over his hit "Shape of You."

"They independently created 'Thinking Out Loud,'" Farkas said. Farkas told the jury that these were "basic musical building blocks" that no one owns. A lawyer for the heirs was expected to give a closing argument to the jury later in the afternoon. Sheeran won a trial in London last year in a separate copyright case over his hit "Shape of You." Gaye's heirs in 2015 won a lawsuit claiming the Robin Thicke and Pharrell Williams song "Blurred Lines" copied Gaye's "Got to Give It Up."

Companies Warner Music Group Corp FollowNEW YORK, May 3 (Reuters) - A jury will now decide whether British singer-songwriter Ed Sheeran ripped off Marvin Gaye's "Let's Get It On" after hearing closing arguments on Wednesday in a week-long copyright trial. Townsend's heirs in 2017 sued Sheeran, his label Warner Music Group (WMG.O) and his music publisher Sony Music Publishing, claiming infringement of their copyright interest in the Gaye song. Sheeran and his co-writer, Amy Wadge, both testified during the trial that they did not copy "Let's Get It On." Sheeran said he had only passing familiarity with the song and that "Thinking Out Loud" was inspired by Irish musician Van Morrison. Sheeran won a trial in London last year in a separate copyright case over his hit "Shape of You."

[1/5] Singer Ed Sheeran arrives at Manhattan Federal Court for his copyright trial in New York City, U.S., April 25, 2023. "We don't allow dancing," U.S. District Judge Louis Stanton instructed the seven-member jury. The trial is the first of three Sheeran could face from lawsuits over similarities between the two hits. Sheeran is expected to testify again later in the trial as part of the defense case. If the jury finds Sheeran liable for copyright infringement, the trial will enter a second phase to determine how much he and his labels owe in damages.

☆ Warner Music Group to Cut 4% of Workforce
▼ + stars: | 2023-03-29 | by ( Anne Steele | ) www.wsj.com time to read: 1 min

Warner Music, the third-largest major music company, is allocating resources toward artist and songwriter development. Warner Music Group Corp. plans to layoff about 4% of its global workforce, according to a memo from new Chief Executive Robert Kyncl, citing the need to reposition the company toward technology. The job cuts mark the first major strategic move made by Mr. Kyncl, who joined the company in January after departing Alphabet Inc.’s YouTube as its business chief. About 270 jobs will be eliminated.

☆ ByteDance plans music-streaming expansion to take on Spotify - WSJ
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +1 min

Oct 12 (Reuters) - China's ByteDance Ltd is in talks with music labels for expanding its music-streaming service globally to compete with industry leaders such as Spotify Technology SA (SPOT.N), the Wall Street Journal reported on Wednesday. The TikTok parent plans to eventually integrate music streaming within its short-video service and scale it to serve as a major platform for distributing music globally, according to the report that cited people with knowledge of the discussions. Shares of Spotify pared gains to trade flat in after-market trading on Wednesday, while Warner Music Group Corp (WMG.O) gained 4%. The company had discussed in recent months launching its Resso music-streaming service, currently available in India, Indonesia and Brazil, in more than a dozen additional markets, but expansion to the United States isn't immediately on the cards, according to the report. Register now for FREE unlimited access to Reuters.com RegisterReporting by Yuvraj Malik in Bengaluru; Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Warner Music Set to Name YouTube Business Chief Robert Kyncl Next CEO
▼ + stars: | 2022-09-21 | by ( Anne Steele | ) www.wsj.com time to read: 1 min

Robert Kyncl said late last month that he would be leaving YouTube. Warner Music Group Corp. will name outgoing YouTube business chief Robert Kyncl as its next chief executive, according to a person familiar with the hiring, betting on a tech veteran as the industry expands into social media, gaming and the metaverse. Mr. Kyncl will replace Steve Cooper , who said he would be stepping down in 2023 after 11 years on the job as the music company’s longest-running CEO.

☆ Warner Music names YouTube business head Kyncl as CEO
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterRobert Kyncl, chief business officer for YouTube, speaks during a keynote address at the 2016 CES trade show in Las Vegas, Nevada January 7, 2016. REUTERS/Steve MarcusSept 21 (Reuters) - Warner Music Group Corp (WMG.O) on Wednesday named Robert Kyncl as its chief executive officer, handing the reins to the outgoing YouTube business head as the record label looks to diversify its revenue streams. Kyncl will take over from Warner Music's longest-tenured Chief Executive Steve Cooper, who is set to leave the media company by the end of next year. Shares of Warner Music, the label behind artists such Ed Sheeran, Lizzo and Dua Lipa, have declined 40% this year and are trading around their 2020 initial public offering price. Register now for FREE unlimited access to Reuters.com RegisterReporting by Yuvraj Malik in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

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