I have starting looking at SIRI
I don't often look at pennys except when the market is running but the vol is interesting
Volume
112,176,640
bigcharts.marketwatch.com
bigcharts.marketwatch.com
biz.yahoo.com
Dow Jones Business News
XM Satellite Shares Rally on Expectations for Growth
Tuesday March 25, 1:20 pm ET
By Ellen Sheng
NEW YORK -- Shares of XM Satellite Radio Holdings Inc. (NasdaqNM:XMSR - News) jumped Tuesday, lifted by a bullish report and anticipation ahead of the company's fourth- quarter conference call scheduled for Thursday.
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The report, from SkyWaves Research, an Ann Arbor, Mich., research firm, forecast continued subscriber growth for the satellite-radio broadcaster and " significantly lower" subscriber acquisition costs throughout 2003.
SkyWaves expects subscribership to number 490,000 to 500,000 by the end of the first quarter and 1.2 million by the end of 2003, the report said. XM added 64, 836 subscribers during the third quarter, putting the total at 201,544.
Going in the other direction, SkyWaves predicts subscriber costs should fall to $100 to $110 a person in the first quarter, down from an average of $130.
Steve Mather, a Sanders Morris Harris analyst who has a "hold" investment rating on XM's stock, said SkyWaves' outlook on XM has "hit the nail in the head."
He added, "GM is upholding their commitment" by installing XM radios in more of its cars. The world's largest auto maker has rolled out XM radios as optional factory-installed equipment in 25 of its 57 car, light-truck and sport-utility models in the 2003 model year. XM will benefit as hardware prices decline and by the economies of scale.
Janco Partners analyst April Horace said that though the SkyWaves report " didn't say anything new," XM's stock is getting a boost from the bullish outlook. She added the rally was also a result of the company nearing completion of its financing plans. XM will increase the number of authorized shares to 615 million from 240 million.
Once the financing is finished, "they can go back to business," said Ms. Horace.
In early afternoon trading on the Nasdaq Stock Market (News - Websites), shares of XM were up 63 cents, or 12%, to $5.94 on volume of 5.9 million. The daily average is 3.6 million.
Rival Sirius Satellite Radio Inc. (NasdaqNM:SIRI - News) is also getting a boost Tuesday. The company was mentioned in SkyWaves' report and is seen reporting a total of 45, 000 to 50,000 subscribers in the first quarter. The companies had 16,136 subscribers as of Oct. 31. Sirius' stock was up nine cents, or 16%, to 62 cents, also on Nasdaq.
Neither Mr. Mather nor Ms. Horace own shares of XM, and neither of their firms does investment banking with the company.
-By Ellen Sheng; Dow Jones Newswires; 201-938-5863; ellen.sheng@dowjones.com
Good Luck
Good post on votaires porch
What is the food fight all about? I miss stockman scott posting over here. He just posted info. about stocks unbias as far as I could see. |
