SIRIUS XM Radio Inc. (SIRI) reported third quarter 2009 financial results. Quarterly revenue of $618.7 million is a huge improvement of 26.7% year-over-year and better than the Zacks Consensus Estimate of $609 million. This was primarily due to the sale of "Best of" programming, rate increases to the company's multi-subscription and Internet packages, and the U.S. Music Royalty Fee introduced in the reported quarter.  Quarterly net loss was $149.2 million or 4 cents per share compared to a net loss of $4.9 billion or $1.93 per share in the prior-year quarter. Costs related to satellite & transmissions, programming & content, customer service & billing, sales and marketing and equipment decreased year-over-year. However, net loss of 4 cents per share in the reported quarter was above the Zacks Consensus Estimate of a loss of 2 cents per share.  During the quarter, SIRIUS XM generated $116.3 million of ...

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Monday, July 20, 2009

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Symbol Company Last Chng. %Chng. Volume C Citigroup Inc $2.79 -0.23 -7.62% 391,724,648 BAC Bank Of America Corporation $12.24

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Sirius XM Radio Inc. (SIRI) today announced a first-quarter loss of 7 cents per share, which was wider than the consensus estimate for a 3-cents loss.

Revenues for the provider of satellite radio service rose 5% to $605.5 million.

Meanwhile, the company boosted its full-year adjusted income guidance to more than $350 million, compared to earlier guidance of $300 million.

Analysts expect a loss of 12 cents per share for this year, but that has narrowed by 2 cents over the past 2 months.

Sirius XM, created by the merger of Sirius Satellite Radio and XM Satellite Radio, received a loan of $530 million earlier this year from Liberty Media Corp. to avoid a possible bankruptcy filing.

SIRI, a Zacks #3 Rank ("Hold") stock, has slipped more than 18% today on higher-than-usual volume of approximately 109 million, compared to average volume of about 64.7 million.

"SIRI" ...

U.S. President Barack Obama has opened the door to a broader relationship with Cuba by loosening travel and communication restrictions. But will pressure from numerous Latin American states and a promise to usher in a new era of cooperation and dialogue in the Western Hemisphere ultimately result in the revocation of the 47 year-old trade embargo? And what would it mean if the Cuban trade embargo were actually abolished? President Obama has already loosened several restrictions enacted by his predecessor George W. Bush. Prior to his arrival at the Summit of the Americas in Trinidad and Tobago last weekend, Obama relaxed restrictions on travel to Cuba, making it easier for Cuban Americans to visit and transfer money to relatives on the island. “There are no better ambassadors for freedom than Cuban Americans,” Obama said in a campaign speech last year. “It’s time to ...

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