If you specify dates it might be easier to point you to live events.
## RECORD SHOTS IN LISBON ##
My all time favorite record shop is Groovie Records, they have great stuff and promote some good live music events (no affiliation, just like the guys).
Not sure they still have their physical shop or have gone online only, I always catch them on events and buy directly ( http://www.groovierecords.com/ )
SHOP: Louie Louie
ADDRESS: Rua Nova da Trindade, 8 A
SITE: www.LouieLouie.Biz
TYPE: New & 2nd hand, sell event tickets (good place to know whats going on)
SHOP: Discolecção
ADDRESS: Calçada do Duque 53 A
TYPE: 2nd hand, prog, psych, 60-70s, 80s indie
SHOP: Trem Azul
ADDRESS: Rua do Alecrim, 21 A, Lisboa
SITE: www.clenfead-records.com
TYPE: Great Jazz Store (one of the best labels)
SHOP: Progcds
ADDRESS: Calçada do do Carmo 36 – 38
SITE: www.progcds.com
TYPE: the name says it all
SHOP: Magic Bus records
ADDRESS: Calçada do Duque 17 A
TYPE: some dude's hobby - small shop
SHOP: Sound Club Store
ADDRESS: Rua da Misericórdia, 12-20 (Espaço Chiado – loja 24)
TYPE: not sure...
SHOP: Discoteca Amália
ADDRESS: Rua do Carmo (it is literally a very old van parked in the street selling FADO cds)
SHOP: Flur
ADDRESS: Avenida Infante Dom Henrique, Cais da Pedra
SITE: http://www.flur.pt
TYPE: New stuff, indie, some cool stuff
## BARS IN LISBON ##
AREA #1: Start from the top in Bairro Alto 10pm to 02am. Each corner has its own type of people and music.
BAR: Corto Maltese (not sure of the name, but its full of Corto Maltese drawing on the wall)
ADDRESS: Rua da Rosa, 136
Its a small bar with great music.
A good place to find out whats going on, ask the barman, check the fleyrs and posters.
BAR: Indie Café (in Bairro Alto)
ADDRESS: Travessa dos Inglesinhos
VENUE: TEATRO DO BAIRRO
ADDRESS: Rua dos Caetanos (round the corner from Indie Café)
AREA #2: Drift towards the river, on your way down passa by Bica, (Address: Rua da Bica de Duarte Belo)
A steep street full of more civilized bars and a more adult crowd (not as fun though)
AREA #3: Going all the way down to the river, Cais do Sodré. You have a street painted pink where you have a load of places to go, mainly CLUBS.
Starts kicking late, from 2h30 onwards... you can club till 15pm if you wish. Some places close at 10am, other re-open at 6am.
CLUB / VENUE: Roterdão (Roterdam Club)
ADDRESS: Rua nova do Carvalho
Opens around 00h30 and have live music downstairs during the week.
CLUB / VENUE: Music Box
ADDRESS: Rua nova do Carvalho (next door to previous)
Open around 10pm and has some local band and events during the week
CLUB / VENUE: Transmission
ADDRESS: Rua de São Paulo (literally on the opposite site of the building / block from the previous two)
Each place has its own people and music, have a look around.
## PORTO ##
Not too familiar with Porto.
I went a couple of time to "Plano B" and surrounding area near the main street (Avenidas dos Aliados).
Something called "Armazém do Chá" also has events and live bands.
No idea regarding record shops.
You can always grab a copy of "Time Out Porto" magazine.
This site might help > http://oportocool.wordpress.com/
Same for lisbon, grab a copy of "Time Out Lisboa"
Have fun!