Spotify Technology's (SPOT) shares should move higher, driven by factors such as its path to a reacc

Key takeawaysUniversal Music Group shares closed 25. 4 per cent lower after organic subscription-revenue growth missed analyst expectations.

On this episode of Stock Movers: - Universal Music Group (UMG NA) plummeted to their lowest level since listing, after the company reported disappointing subscription revenue growth. The world's largest record label's subscription revenues grew 16.6% in constant currency, including the impact of its purchase of Downtown Music Holdings, but analysts had expected a 19.2% increase. - Roblox (RBLX) shares are lower after the video-game company's second-quarter results disappointed on key metrics, including users and hours engaged. It also gave a forecast for both bookings and revenue that was weaker than expected. - Reddit (RDDT) shares are moving after it projected revenue in the current quarter revenue that beat Wall Street estimates, but shares fell after the social media company failed to announce any new data licensing agreements.

The music label behind Taylor Swift, Lady Gaga and Bad Bunny is on track for its steepest share-price decline since going public in 2021, driven by disappointing subscription and streaming revenue. Shares in Universal Music Group, the world’s largest music company, plummeted more than 25% in Amsterdam following its earnings.

↗️ SK Hynix (KR:000660), Samsung (KR:005930): Shares of both chipmakers surged over 25% in Asian trading, staging a strong recovery after a turbulent week. Peers Marvell (MRVL), Intel (INTC), Micron (MU), also moved higher.

The stock was on course for its second-largest one-day fall after revenue from subscriptions and streaming came in slightly below analyst expectations, disappointing investors.

Investing.com -- Universal Music Group reported stronger second-quarter revenue growth on Thursday, driven by higher subscription streaming income, pricing gains from its Streaming 2.0 agreements and the contribution from its acquisition of Downtown Music Holdings, though margins and profit remained under pressure.

The music company said revenue for the three months through June increased 13% on year to $3.77 billion.