Sirius XM Sued By Major Record Labels Over Older Songs and 2 More Heavily Traded Stocks to Follow
Sirius XM Radio Inc. (NASDAQ:SIRI): Current price $3.78
Major record labels now have the most recent group to sue Sirius XM Radio for using songs recorded before 1972 and not paying for them. Federal copyright law did not cover recordings until 1972, which leaves prior recordings protected only by some state laws. The lawsuit was filed in Los Angeles Superior Court by Access Industries Inc.’s Warner Music Group, Sony Corp.’s Sony Music Entertainment, Vivendi SA’s Universal Music Group, and ABKCO Music and Records Inc., which is the independent label that controls a number of the best-known Rolling Stones recordings, along with work by The Animals and Sam Cooke.
Dell Inc. (NASDAQ:DELL): Current price13.85
Following Thursday’s vote that clinched the takeover by Chief Executive Michael Dell of the company he founded, it was announced in a conference call after the shareholder vote that Dell plans to invest in the personal computer and tablet markets, broadening sales coverage, and increasing its distribution network. The CEO added that a “significant incremental investment” is needed to turn the firm around, and having two strong private investors will aid the restructuring.
Amarin Corp. plc (NASDAQ:AMRN): Current price $6.59
Leerink recommends that investors use the present weakness in Amarin shares as a buying opportunity. The firm does not expect Amarin’s Vascepa and Lovaza, which could experience generic rivalry in the second half, to compete on price. Leerink says that Vascepa is still the best in class and maintains an Outperform on the shares.