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Technology Stocks : XM Satellite Radio Holdings Inc. (XMSR) -- Ignore unavailable to you. Want to Upgrade?

To: LemonHead who wrote (114)	11/28/2001 3:00:23 PM
From: Rich23241	Respond to of 3386

XM, Sirius Shares Up as Satellite Radio Takes Off CHICAGO (Reuters) - Shares of XM Satellite Radio Holdings Inc. (Nasdaq:XMSR - news) rose more than 10 percent on Wednesday amid an upturn in satellite stocks, as the satellite radio company ramped up an advertising campaign for its new service. Shares of XM Satellite rose as high as $12.87, before settling at $12.16, up 46 cents, or 3.96 percent in early-afternoon Nasdaq trading. The apparent demand for XM's satellite radio service also pulled up rival Sirius Satellite Radio Inc.'s (Nasdaq:SIRI - news) shares, analysts said. Sirius rose 60 cents, or 10.26 percent, to $6.45 on Nasdaq. ``Investors were worried that the take up rate of subscribers wouldn't be healthy, but the early buzz out of XM is it will be healthy,'' Rob Kaimowitz, satellite analyst with SG Cowen said. ``More and more people are getting their hands on the product and I think a little bit of the Peter Lynch affect is taking place,'' added John Stone, senior satellite analyst with Ladenberg Thalman & Co. ``(Money manager) Peter Lynch said if you buy a product and you like it, you should investigate the company that sold it to you, and I think that's happening with XM.'' Sirius was benefiting from XM's stock rise because XM has proven that there's demand for satellite radio programming, Robert Peck, analyst with Bear Stearns said. ``That's obviously good news for Sirius as well,'' he said. Several analysts also pointed out that Sirius may be helped by its announcement Tuesday that its new chief executive is consumer electronics and telecommunications veteran Joseph Clayton