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Technology Stocks : Sirius Satellite Radio (SIRI)

SIRI 20.46

-2.2%

3:59 PM EST

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To: sixty2nds who wrote (3479)	1/5/2006 1:40:46 PM
From: sixty2nds	Read Replies (3) of 8420

09:34 XMSR XM Satellite: Color on subsciber numbers (27.05 -0.79) -Update- Morgan Joseph notes that last night, XMSR announced that it ended 2005 with 5.933 mln subscribers. They say this was weaker than the co's earlier guidance of more than 6.0 mln subscribers and their estimate of 6.139 mln subscribers. They believe the disappointment was due in large part to the competition with SIRI and its introduction of Howard Stern in 2006, and general weakness in the OEM distribution network. They also believe GM's problems have become XMSR's. They note that SIRI announced its year-end results this morning, and say Sirius generated more net new subscribers during 4Q05 (1.142 mln for Sirius compared to roughly 900,000 for XM). Firm expects XMSR to sell-off on the news to around the mid-$25.00 per share level -- they would use this as a buying opportunity, given our belief that the business will remain robust in 2006.

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