Sirius XM shares up as cars, iPhone fuel optimism | Entertainment | Industry | Reuters: "By Franklin Paul
NEW YORK (Reuters) - Sirius XM Radio shareholders may sense better days ahead, fueled by optimism about new revenue streams, the launch of its iPhone software and the 'cash for clunkers' car buying program.
The stock has climbed 20 percent so far this week, despite analysts' forecasts that the satellite radio company will post a loss and show it lost hundreds of thousands of subscribers when it reports second-quarter results on Thursday.
Wall Street is focusing on signs of economic stability, analysts say, and the growth potential of the company, created about a year ago by merging Sirius and XM Satellite Radio.
'The financial risk has been reduced and now you are looking at a positive swing in EBITDA of more than $500 million over the course of the year, with much of it coming from cost cuts,' said Barrington Research analyst James Goss. 'All of that seems to provide much more favorable outlook than it did before.'"
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Tuesday, August 4, 2009
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