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Thursday, February 3, 2011

WMG stock rockets post EMI takeover

NOTHING TO IT: Warner Music stock keeps rising, and the company had to do absolutely nothing to trigger the dramatic rise. All it took was the Tuesday annoucement of Citi’s takeover of EMI, which inevitably led to yet another round of heated speculation about a WMG-EMI pairing. As of 11:16 a.m. EST, Warner shares were up $.38 on today’s trading to $5.96, a 6.8% change, en route to an expected close north of $6. On Monday, the day before the announcement, WMG stock closed at $5.23. (2/3a)

 
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