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Why Tencent Music Entertainment Stock Soared Today

Two analysts just significantly boosted their price targets for this tech stock. ....

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Tencent Music Shares Up After Lazy Audio Deal

Tencent Music Entertainment logo is seen displayed on a smartphone.
Shares in Chinese music streaming leader Tencent Music Entertainment rose 21.6% Monday morning (Jan. 19) on news it will acquire Lazy Audio, a Chinese-owned service with spoken word content such as audiobooks and podcasts, for RMB 2.7 billion ($417 million). The transaction is expected to close in the first half of 2021.
At Monday’s high point of $27.00, Tencent Music’s market capitalization was $45.4 billion. That’s well behind Spotify’s $61 billion but still among the most valuable publicly traded media tech companies in the world. The stock ended Tuesday at $26.86, another high closing price in a 88.4% upswing since Oct. 13. Tencent owns China’s most popular music streaming apps QQ Music, Kogou Music and Kuwu Music and the karaoke app WeSing. It was spun off from Chinese tech giant Tencent Corp. in December 2018, raising $1.1 billion in an IPO on the New York Stock Exchange. ....

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General Motors, AMC, Roku: 5 Top Stock Gainers for Tuesday

General Motors, AMC, Roku: 5 Top Stock Gainers for Tuesday
TheStreet
1/19/2021
© TheStreet
General Motors, AMC, Roku: 5 Top Stock Gainers for Tuesday
Stocks finished higher Tuesday as Janet Yellen, President-elect Joe Biden s nominee for treasury secretary, told the Senate Finance Committee that Congress must act big on the next coronavirus relief package.
Here are some of the big movers in the stock market on Tuesday:
1. General Motors | Percentage Increase 10%
Shares of General Motors jumped after Microsoft partnered with the car company s driverless-car startup Cruise to speed autonomous vehicles to market.
Popular Searches
2. AMC Entertainment | Percentage Increase 31%
AMC Entertainment soared after the movie theater operator said it was issuing $100 million face amount of five-year secured notes. ....

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China's Tencent buys audiobook platform Lazy Audio for $417m

Lazy Audio's platform, founded in 2012, hosts Chinese comedy, podcasts and radio shows apart from audiobooks. ....

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China's Tencent buys audiobook platform Lazy Audio for $417 million

China's Tencent Music Entertainment Group said on Friday it acquired audiobook platform Lazy Audio, owned by Shenzhen Lanren Online Technology Co, for 2.7 billion yuan ($417 million). ....

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