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While the S&P 500 reached a new record close every day this week, music stocks had more middling performances and K-pop companies extended their losses.
HYBE, home to BTS, fell 4.3% this week as the company faces problems on multiple fronts ahead of its Aug. 6 earnings call. According to reports out of South Korea, HYBE’s headquarters in Seoul were raided on Thursday (July 24) as part of the government’s ongoing investigation into alleged stock fraud by the company’s founder and chairman, Bang Si-hyuk. On Tuesday, three HYBE employees were convicted of insider trading and given jail time.
Things were looking up for HYBE just last month. In early June, HYBE shares rose on news that six of seven BTS members had finished their military duty, marking a step in the group’s long-awaited return. But after reaching a high mark for 2025 of 316,000 KRW ($228.54) on June 24, HYBE shares have fallen 18.8%.
K-pop stocks are in the midst of a summer slump. SM Entertainment dropped 4.6% this week and has fallen 11.6% over the last five weeks. YG Entertainment is down 12.7% over the last four weeks after slipping 2.1% this week. JYP Entertainment sank 6.1% this week, but its loss over the last six weeks is a more modest 7.2%. Despite the recent downturns, the four K-pop companies have had a strong 2025, posting an average year-to-date gain of 45.0%.
The 20-company Billboard Global Music Index (BGMI) rose 0.2% to 2,988.97 for the week ended Friday (July 25), bringing its year-to-date gain to 40.7%. Only seven stocks finished the week in positive territory, while 11 stocks were in the red and 2 stocks were unchanged. Believe, which is implementing a mandatory squeeze-out to obtain the remaining 1.27% of outstanding shares that weren’t acquired during a tender offer, finished the week unchanged. Its shares ceased trading on Monday, and Believe will not publish its mid-year results.
Led by Spotify on Tuesday (July 29), a number of music companies report earnings next week. Although Spotify’s share price has been in a slump, some analysts have upped their price targets ahead of the company’s quarterly earnings announcement. This week, Deutsche Bank upped its price target to $775 from $700 and maintained its “buy” rating. Oppenheimer raised its Spotify price target to $800 and upgraded the stock to “outperform” from “market perform.”
Shares for Deezer, which reports on Wednesday (July 30), were up 5.8% to 1.27 euros ($1.49). Universal Music Group, which releases earnings on Thursday (July 31), rose 3.2% to 27.85 euros ($32.72). SiriusXM, which gained 0.1% to $23.58, also reports on Thursday.
Meanwhile, Live Nation is slated to report earnings on Aug. 6. The concert promoter’s share price increased 1.6% to $152.98 this week, marking its highest closing price since Feb. 24.
Netease Cloud Music, which had been on a hot streak over the previous eight weeks, was the biggest loser of the week after dropping 11.0% to 269.00 HKD ($34.27). Sphere Entertainment Co. also had a large decline, falling 5.6% to $43.59 as numerous reports this week highlighted a decline in tourist visits to Las Vegas.
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Created with Datawrapper
Kelly Osbourne is paying tribute to her father, Ozzy Osbourne, just days after his funeral.
On Friday (Aug. 1), the 40-year-old TV personality shared an NSFW photo on her Instagram Story in memory of the rock legend, who passed away on July 22 at the age of 76.
The outdoor image featured a beautiful display of purple flowers arranged to spell out “Ozzy F—ing Osbourne,” set beside a serene pond surrounded by a rolling hill and trees.
In a second post, Kelly shared a heartfelt clip from The Osbournes, the MTV reality series that aired from 2002 to 2005. The snippet shows Ozzy lying in bed with his wife, Sharon Osbourne, offering words of wisdom.
“Listen, all you got to worry about is getting through today,” the Black Sabbath frontman says. “That’s all you got to worry about.”
Just days earlier, Kelly attended her father’s funeral procession in his hometown of Birmingham, England, where fans flooded the streets to pay their respects. Sharon, along with Ozzy’s other children — Aimeé and Jack — laid flowers at the Black Sabbath Bridge, which had been covered with tributes from mourners.
Shortly after Ozzy’s passing, Kelly posted another emotional tribute to her Instagram Story on July 24. “I feel unhappy I am so sad,” she wrote. “I lost the best friend I ever had,” the Fashion Police alum added, along with a heartbroken emoji. Her words echoed lyrics from Black Sabbath’s ballad “Changes,” which she and her father released as a duet in 2003.
Ozzy Osbourne died at age 76, just weeks after performing his final concert. His family confirmed the news in a joint statement. “It is with more sadness than mere words can convey that we have to report that our beloved Ozzy Osbourne has passed away this morning,” they wrote. “He was with his family and surrounded by love. We ask everyone to respect our family privacy at this time.”
Just a month before his death, Kelly had honored her dad on Father’s Day with an Instagram post that included a slideshow of Ozzy spending time with her young son, Sidney, whom she shares with fiancé Sid Wilson.
“Happy Father’s Day daddy,” she wrote at the time. “I love you more than anyone or anything in the world! I am so proud to be your daughter and Beyond honored to watch you be the best #Papa in the world to my son!”
Donald Trump is once again addressing the possibility of granting a presidential pardon to Sean “Diddy” Combs.
During a Friday (Aug. 1) interview on Newsmax’s Finnerty, the president was asked whether he would consider pardoning Combs following his recent federal conviction. In early July, the Bad Boy Records mogul was found guilty of transportation with intent to engage in prostitution, though he was acquitted of more serious charges, including sex trafficking and racketeering.
“Well, he was essentially, I guess, sort of half-innocent,” Trump told host Rob Finnerty. “He’s still in jail or something, but he was celebrating a victory. But I guess it wasn’t as good of a victory.”
Trump also reflected on his past relationship with Combs, noting they were once “very friendly” and that he “got along with him great.” However, he said that dynamic shifted when he entered politics, describing Combs as having become “very hostile.”
This isn’t the first time Trump has commented on the case. During an Oval Office press briefing in late May, he was asked by Fox News’ Peter Doocy whether he would consider a pardon for Combs. At the time, Trump said he’d “look at the facts,” acknowledging their former rapport while insisting personal feelings wouldn’t influence his decision.
“I haven’t spoken to him in years,” Trump said. “He used to really like me a lot. I think when I ran for politics, that relationship busted up. … I would certainly look at the facts. If I think somebody was mistreated, whether they like me or don’t like me, it wouldn’t have any impact on me.”
Combs’ partial acquittal followed seven weeks of testimony, including statements from singer Cassie Ventura, who accused him of abuse and trafficking during their relationship. Combs has denied all allegations. He now faces up to 20 years in prison, with sentencing scheduled for Oct. 3.
Watch Trump’s full response on Finnerty about pardoning Diddy in a clip posted on X.
Tens of thousands of Deadheads descended on San Francisco’s Golden Gate Park on Friday night for the first of Dead & Company‘s three weekend shows celebrating 60 years of the Grateful Dead. The shows were consequential not just for the anniversary they commemorated, but for fans of the group, which had not performed anywhere other than Las Vegas’ Sphere since July 2023, when it concluded its final tour.
After an opening set by jamgrass phenom Billy Strings, Dead & Company – comprised of Grateful Dead founders Bobby Weir and Mickey Hart, alongside John Mayer, Oteil Burbridge, Jeff Chimenti and Jay Lane – dove into its catalog with gusto for two crowd-pleasing sets that spanned material from the Dead’s 30-year career. Highlights included guest appearances by Grahame Lesh (for “Box of Rain,” the beloved Dead song written and sung by his late father, Grateful Dead founding member Phil Lesh) and Strings (for the Dead classic “Wharf Rat”), as well as a touching encore of Bob Dylan’s “Knockin’ On Heaven’s Door” that honored the date, which would have been Grateful Dead frontman Jerry Garcia’s 83rd birthday.
Dead & Company’s setlist choices on Friday leave plenty of options on the table for fans returning on Saturday and Sunday – the band rarely, if ever, repeats a song during these sorts of runs – including classics like “Touch of Grey,” “Casey Jones” and “Truckin’.” On Saturday, Sturgill Simpson will open the show under his “Johnny Blue Skies” moniker, while on Sunday, Phish frontman Trey Anastasio will kick off the festivities.
Here’s a look at Dead & Company’s full opening-night setlist for its three-show San Francisco run celebrating 60 years of the Grateful Dead.
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