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Sphere Stock Continues to Soar, Gaining 46% in Last 4 Weeks on ‘Wizard of Oz’ Success

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Sphere Entertainment stock rose 19.3% to $58.33 this week, marking its fourth consecutive weekly gain and the largest improvement in that month-long run. Sphere shares have risen an astounding 46.3% in the last four weeks. The stock reached an all-time high of $58.71 on Friday (Sept. 12).

Sphere’s latest offering, a revamped The Wizard of Oz, has won over both audiences and Wall Street analysts. As Billboard noted on Wednesday (Sept. 10), numerous analysts have raised forecasts in the wake of a stellar debut and strong ticket sales. The $2.3 billion venue requires a high level of utilization to be profitable, meaning Sphere must squeeze in film showings when it’s not hosting sold-out concerts by the likes of Backstreet Boys and The Eagles. Early results suggest the revamped The Wizard of Oz, which cost upwards of $100 million, is performing better than Sphere’s two previous films, Postcards from Earth and V-U2.

‘The Wizard of Oz’ Is a Much-Needed Home Run for Sphere

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The 19-company Billboard Global Music Index (BGMI) rose 1.0% to 3,061.29, putting its year-to-date gain at 44.1%. The majority of music stocks ended the week in positive territory, mirroring gains elsewhere in the market as investors lifted stocks ahead of an expected interest rate cut by the U.S. Federal Reserve.

The week’s biggest gainer was music streamer LiveOne, which jumped 29.5% to $0.57. On Thursday (Sept. 11), LiveOne raised its fiscal 2026 adjusted EBITDA guidance to $4.5 million to $6 million on revenue of $55 million to $60 million. On Friday, the company announced that its Bitcoin holdings exceed $5 million.

Radio broadcaster and podcast company iHeartMedia rose 23.3% to finish the week at $2.59. iHeartMedia shares rose 9.2% on Friday after the company announced an expanded partnership and new long-term agreement with Bell Media in Canada. iHeartRadio Canada is a partnership between iHeartMedia and Bell Media, giving the American company distribution of its radio stations and podcast content in the neighbor to the north.

Live Nation shares rose 6.3% to $173.73 on Friday after reaching a new all-time high of $175.25 earlier in the day. The spike followed Citi’s hike of its Live Nation price target to $195 from $165 on Tuesday (Sept. 9). Also this week, CFRA raised its Live Nation price target by $26 to $196, citing “the outsized opportunity for live entertainment around the globe” and the company’s efforts to build arenas and theaters to capture market share.

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Universal Music Group (UMG) rose 1.2% to 24.59 euros ($28.86). This week, Citi upgraded UMG to “buy” from “neutral” and increased its price target to 29 euros ($34.03) from 27 euros ($31.68).

Warner Music Group shares gained 2.8% to $33.62, lifting the stock’s year-to-date gain to 8.4%. On Wednesday (Sept. 10), Tigress raised its price target to $45 from $44 due to subscriber growth and the company’s margin expansion.

Spotify, the BMGI’s largest single component with a market capitalization of $142.6 billion, fell 1.5% to $696.40. Spotify shares are up 49.2% this year but have fallen 12.7% since reaching an all-time high of $785.00 on June 27. This week, the company announced the launch of its long-awaited high-quality audio streaming offering.

Many markets and indexes gained this week as investors awaited a decision by the Federal Reserve and companies continued to announce positive news. Amidst rising inflation and falling consumer sentiment, companies ranging from Six Flags Entertainment to Adobe nonetheless gained on encouraging results.

In the U.S., the Nasdaq composite index rose 2.0% to a record closing of 22,141.10, and the S&P 500 climbed 1.7% to 6,584.29. In the U.K., the FTSE 100 improved 0.8% to 9,283.29. South Korea’s KOSPI composite index jumped 5.9% to 3,395.54, and China’s Shanghai Composite Index improved 1.5% to 3,870.60.

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Entertainment

Kendrick Lamar, Clipse & Doechii Show Rap Can Shine in Every Style With 2026 Grammy Noms

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On Friday (Nov. 7), the Recording Academy unveiled the nominations for the 2026 Grammy Awards, and as always, the hip-hop world has plenty to celebrate and debate. With everyone on pins and needles, this year’s lineup delivers no shortage of storylines, surprises and standout performances from rap’s elite.

For the second consecutive year, Kendrick Lamar leads all contenders with a staggering nine nominations, courtesy of his late-2024 masterclass, GNX. After last year’s dominant run, capped by him ultimately claiming song and record of the year for “Not Like Us” at the Grammys in February, Lamar is looking to go back-to-back, with “Luther” also recognized in both categories. Joining him in the Big Four categories are fellow rap titans Tyler, The Creator and the Clipse, both of whom are nominated for album of the year. Tyler’s Chromokopia flexed his creative range and unfiltered candor, while Clipse’s unapologetic return to their trademark druglord narratives with Let God Sort Em Out sparked a wave of critical acclaim and Grammy contention.

The women of hip-hop also showed out in this year’s nominations, further proving the genre’s depth. Doechii, Cardi B, and GloRilla each earned major recognition, underscoring why rap remains in a healthy, evolving place despite outside noise. Doechii, who claimed best rap album last year, scored six more nominations on the strength of her viral smash “Anxiety” and the enduring impact of Alligator Bites Never Heal. Likewise, GloRilla’s 2024 comeback has catapulted her back to the top of the food chain, marking a powerful redemption run.

See what else Billboard has to say about this year’s hip-hop nominees below.

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From The Weeknd to Gracie Abrams, Which Snubbed Artist Should’ve Gotten a 2026 Grammy Nod? Vote!

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Numerous artists are currently flying high after scoring 2026 Grammy nominations on Friday (Nov. 7) –but there are also several major contenders who didn’t get quite as lucky.

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Despite garnering major award buzz this past year, stars such as The Weeknd, Gracie Abrams and Alex Warren didn’t get recognized in certain categories, which were unveiled Friday morning in a livestream on the Grammy website. The absence of the artist born Abel Tesfaye from the nominations list was particularly noticeable, as he had just reconciled with the academy last year and dropped Billboard 200-topping album Hurry Up Tomorrow in February. But while Kendrick Lamar, Sabrina Carpenter and Bad Bunny got honors in the album of the year category, The Weeknd did not.

Both Abrams and Warren were also excluded from the major categories, with neither “That’s So True” nor “Ordinary” getting song or record of the year consideration, even though those were two of the biggest Billboard Hot 100-charting tracks of the year. Warren at least scored a nod for best new artist, but that category was also missing several big names, including Zach Top, Megan Moroney, Ella Langley and Ravyn Lenae.

The producer of the year, non classical category will turn heads for the second year in a row as well, as Jack Antonoff — who was notably excluded from the list in 2025 — once again did not make the cut. That comes in spite of his work on two album of theyear contenders, Lamar’s GNX and Carpenter’s Man’s Best Friend, both of which spent time at No. 1 on the U.S. albums chart. Instead, Dan Auerbach, Cirkut, Dijon, Blake Mills and Sounwave will fight it out for the prize.

But while the academy’s word is final, it’s your turn to share how you feel about the outcome of the initial voting process this year. Have any strong feelings on which snubbed artist was the most deserving of recognition? We want to know.

Tell us who you think should have been nominated in a category they were shut out of by voting in the poll below.

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Pete Davidson Surprises on ‘SNL,’ Jokes About Ferry Boat He Bought With Colin Jost: Watch

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Pete Davidson returned to Saturday Night Live for a surprise appearance on Nov. 8.

The comedian and actor, who was an SNL cast member from 2014 to 2022, crashed the “Weekend Update” segment to poke fun at a recent article about a decommissioned Staten Island ferry he purchased with Colin Jost in 2022. The two had planned to transform the vessel into an upscale entertainment venue.

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The New York Times recently ran an article calling the Staten Island Ferry that I purchased with Pete Davidson a ‘money-losing fiasco.’ With more on this, is Pete Davidson,” Jost said in introducing The King of Staten Island star.

“Colin, you’re looking great as ever. [Michael] Che, starting to crack,” Davidson joked, mentioning his recent appearance at the 2025 Riyadh Comedy Festival and that he’s expecting his first child.

“So yeah, in case you’re wondering why I had to do a show in Saudi Arabia, we’re losing millions on this ferry,” he continued. “I assume that’s what the article says. I can’t spend $5 on a paywall when I got a kid on the way.”

Davidson and Jost then continued trading jokes about the 2,109-ton ferry, which they bought at a New York auction for $280,100.

“We even gave the boat a new name,” Davidson said. “We thought the Staten Island Ferry sounded too depressing, so now it’s called the Titanic 2.” Jost added, “That’s right, and it’s actually going very well. Recently, we got paid by Nike to put an ad on it for the New York City Marathon.”

Earlier on Saturday, Davidson told People that he’d “do anything” for SNL boss Lorne Michaels, saying he’d return to the show if asked.

“I had a great time hosting last time, and anytime you get that call, it’s an honor and a privilege,” the eight-season SNL vet said. “It’s always relevant, it’s a hot show. People look forward to it, and the cast is great.”

Saturday’s episode was hosted by comedian Nikki Glaser, with singer-songwriter Sombr serving as the musical guest.

Watch SNL’s “Weekend Update” segment with Davidson below, and find all the ways to stream the full episode here.

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