Tencent Music Enter Gr Stock (NYSE:TME), Trade Ideas

Tencent Music Enter Gr

TME is the largest online music service provider in China. It was founded in 2016 with the business combination of QQ Music (founded in 2005), Kuwo Music (founded in 2005) and Kugou Music (founded in 2004) streaming platforms. Tencent is the largest shareholder of TME with over 50% shares and over 90% voting rights held. TME also provides social entertainment services, including music live audio/video broadcasts and online concert services through the three platforms mentioned above, and online karaoke through an independent platform WeSing.

Thematic Music ETF (MUSQ) Prepares To Strike A Chord As Indicators Point To Upbeat Momentum

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MUSQ Global Music Industry ETF (ARCA: MUSQ) was trading flat on Thursday, forming an inside bar pattern near the top of the green Marubozu candlestick, which was printed on Wednesday.

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Tencent Music Entertainment Group (NYSE: TME) shares were climbing Wednesday after the company reported upbeat fourth-quarter results.

Tencent Music Entertainment Ready To Benefit From &#39;Secular Tailwind Of Music Streaming Adoption&#39;: Analysts On Q4 Results, Outlook

Jerome Powell Wall Street

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Tencent Music Entertainment Group American Depositary Shares, each representing two Class A Ordinary Shares

Tencent Music Entertainment Group

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Laboratory Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LH#NYSE">LH</a>) reported quarterly earnings of $3.68 per share which beat the analyst consensus estimate of $3.48 by 5.75 percent. This is a 6.36 percent increase over earnings of $3.46 per share from the same period last year. The company reported quarterly sales of $3.177 billion which beat the analyst consensus estimate of $3.117 billion by 1.93 percent. This is a 4.58 percent increase over sales of $3.038 billion the same period last year.

Earnings Beats

Laboratory Corporation Of America Holdings

Laboratory Corp Q1 2024 Adj EPS $3.68 Beats $3.48 Estimate, Sales $3.177B Beat $3.117B Estimate

Ultralife (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULBI#NASDAQ">ULBI</a>) reported quarterly earnings of $0.21 per share which beat the analyst consensus estimate of $0.10 by 110 percent. The company reported quarterly sales of $41.927 million which beat the analyst consensus estimate of $38.000 million by 10.33 percent. This is a 31.37 percent increase over sales of $31.916 million the same period last year.

ULBI

Ultralife Q1 2024 Adj EPS $0.21 Beats $0.10 Estimate, Sales $41.927M Beat $38.000M Estimate

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Baird analyst Mark Marcon maintains ASGN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASGN#NYSE">ASGN</a>) with a Neutral and raises the price target from $99 to $104.

ASGN

Baird Maintains Neutral on ASGN, Raises Price Target to $104

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LiveWire Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVWR#NYSE">LVWR</a>) reported quarterly losses of $(0.12) per share which beat the analyst consensus estimate of $(0.14) by 14.29 percent. This is a 20 percent decrease over losses of $(0.10) per share from the same period last year. The company reported quarterly sales of $4.98 million which missed the analyst consensus estimate of $13.51 million by 63.15 percent. This is a 35.87 percent decrease over sales of $7.76 million the same period last year.

Earnings Misses

LVWR

LiveWire Gr Q1 EPS $(0.12) Beats $(0.14) Estimate, Sales $4.98M Miss $13.51M Estimate

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Ardagh Metal Packaging (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMBP#NYSE">AMBP</a>) reported quarterly earnings of $0.01 per share which beat the analyst consensus estimate of undefined by Infinity percent. This is unchanged from the same period last year. The company reported quarterly sales of $1.141 billion which missed the analyst consensus estimate of $1.149 billion by 0.72 percent. This is a 0.88 percent increase over sales of $1.131 billion the same period last year.

AMBP

Ardagh Metal Packaging Q1 2024 Adj EPS $0.01 Beats undefined Estimate, Sales $1.141B Miss $1.149B Estimate

Approximately&nbsp;$190 million&nbsp;to&nbsp;$240 million&nbsp;is associated with marine maintenance capital and improvements to existing inland and coastal marine equipment, including the remaining ballast water treatment systems on some coastal vessels, and facility improvements. Approximately&nbsp;$90 million&nbsp;is associated with growth capital spending in both our businesses.

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&quot;We are pleased with our first quarter results, which reflect improvement in adjusted EBITDA and adjusted EPS, driven by disciplined execution across our key priorities,&quot; said Cindy J. Miller, President and Chief Executive Officer. &quot;We remain on track to achieve our full-year 2024 guidance and long-term outlook.&quot;

SRCL

Stericycle CEO Says "We remain on track to achieve our full-year 2024 guidance and long-term outlook."

Baird analyst David Manthey maintains Watsco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSO#NYSE">WSO</a>) with a Outperform and raises the price target from $420 to $460.

Baird Maintains Outperform on Watsco, Raises Price Target to $460

NDAQ

Nasdaq Sees FY24 Non-GAAP Operating Expense $2.125B-$2.185B

Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) reported quarterly earnings of $0.55 per share which beat the analyst consensus estimate of $0.36 by 52.78 percent. The company reported quarterly sales of $4.023 billion which beat the analyst consensus estimate of $3.670 billion by 9.62 percent. This is a 50.17 percent increase over sales of $2.679 billion the same period last year.

Newmont Q1 2024 Adj EPS $0.55 Beats $0.36 Estimate, Sales $4.023B Beat $3.670B Estimate

Expro Gr Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPRO#NYSE">XPRO</a>) reported quarterly earnings of $0.09 per share which missed the analyst consensus estimate of $0.12 by 25 percent. This is a 800 percent increase over earnings of $0.01 per share from the same period last year. The company reported quarterly sales of $383.489 million which beat the analyst consensus estimate of $369.621 million by 3.75 percent. This is a 13.03 percent increase over sales of $339.279 million the same period last year.

XPRO

Expro Gr Hldgs Q1 2024 Adj EPS $0.09 Misses $0.12 Estimate, Sales $383.489M Beat $369.621M Estimate

Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) reported quarterly losses of $(4.40) per share which beat the analyst consensus estimate of $(4.44) by 0.9 percent. This is a 314.63 percent decrease over earnings of $2.05 per share from the same period last year. The company reported quarterly sales of $11.865 billion which beat the analyst consensus estimate of $11.458 billion by 3.56 percent. This is a 4.66 percent increase over sales of $11.337 billion the same period last year.

Bristol-Myers Squibb Q1 2024 Adj EPS $(4.40) Beats $(4.44) Estimate, Sales $11.865B Beat $11.458B Estimate

Stericycle (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRCL#NASDAQ">SRCL</a>) reported quarterly earnings of $0.57 per share which met the analyst consensus estimate. This is a 16.33 percent increase over earnings of $0.49 per share from the same period last year. The company reported quarterly sales of $664.900 million which missed the analyst consensus estimate of $679.277 million by 2.12 percent. This is a 2.84 percent decrease over sales of $684.300 million the same period last year.

Stericycle Q2 2024 GAAP EPS $0.57, Inline, Sales $664.900M Miss $679.277M Estimate

HC Wainwright &amp; Co. analyst Douglas Tsao maintains Evotec (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVO#NASDAQ">EVO</a>) with a Buy and lowers the price target from $14 to $11.

HC Wainwright & Co. Maintains Buy on Evotec, Lowers Price Target to $11

Tencent Music Entertainment Group - ADR (TME) is down -0.99%% today. TME has an Overall Score of 75. Find out what this means to you and get the rest of the rankings on TME!See Full TME ReportTME stock closed at $11.07 and is down -$0.11 during pre-market trading. Pre-market tends to be more volatile due to significantly l

Tencent Music Entertainment Group - ADR (TME) Down 0.99% in Premarket Trading

Bank of America Securities analyst Lei Zhang has reiterated their bullish stance on TME stock, giving a Buy rating on March 22. Lei Zhang has given...

Tencent Music: A Harmonious Investment Tune with Growth and Shareholder Returns

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Tencent Music Entertainment (TME) has released an update. Tencent Music Entertainment Group, a leading online music and audio platform in China, wi...

Tencent Music to Unveil Q1 2024 Financials

Tencent Music Entertainment Group (TME – Research Report), the Communication Services sector company, was revisited by a Wall Street analyst today....

Buy Rating for Tencent Music: Forecasting Substantial Subscriber Growth and Robust Profitability

Analyst Wei Fang from Mizuho Securities maintained a Buy rating on Tencent Music Entertainment Group (TME – Research Report) and increased the pric...

Tencent Music: A Harmonious Future with Robust Subscriber and Ad Revenue Growth

Tencent Music Entertainment (TME) has released an update. Tencent Music Entertainment Group, a leader in China's online music and audio entertainme...

Tencent Music Files 2023 Annual Financial Report

Tencent Music Entertainment (TME) has disclosed a new risk, in the Regulation category. Tencent Music Entertainment's integration of AI into its of...

Tencent Music Faces AI Integration Challenges Amidst New Regulatory Landscape

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Press Releases

Tencent Music Entertainment Group Announces Second Quarter 2023 Unaudited Financial Results

Tencent Music Entertainment Group Announces Third Quarter 2023 Unaudited Financial Results

Tencent Music Entertainment Group Announces Management Change

Contracts

Tencent Music Entertainment Group and Universal Music Group Extend Multi-year Strategic Licensing Agreement

TME Chart 2023 Year-End Charts Officially Unveiled, Featuring Notable Artists including Joker Xue, Zhou Shen and Tia Ray

Tencent Music Entertainment Group to Report Fourth Quarter and Full Year 2023 Financial Results on March 19, 2024

Tencent Music Entertainment Group Announces Fourth Quarter and Full-Year 2023 Unaudited Financial Results

Tencent Music Entertainment Group Announces Senior Management Changes

Tencent Music Entertainment Group to Report First Quarter 2024 Financial Results on May 13, 2024

Tencent Music Entertainment Group Filed 2023 Annual Report on Form 20-F

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