Friday, June 02, 2006

CNN Money: Some on Wall Street Think Now is a Good Time to Buy SIRI & XMSR

June 2, 2006

In addition to commentary, Satellite Standard Group posts news articles that may affect the movement of stock prices. Below, CNN Money summarizes recent analyst comments:

The two satellite radio stocks have taken a big tumble this year, but some on Wall Street think now is a good time to buy.
By Paul R. La Monica, CNNMoney.com senior writer
June 2, 2006: 1:11 PM EDT
NEW YORK (CNNMoney.com)

Look up in the sky! It's a bird. It's a plane! Nope. It's the two satellite radio stocks plunging from orbit! Shares of XM Satellite Radio (Research) and its smaller rival Sirius Satellite Radio (Research) have both taken huge hits so far this year. Sirius' stock has fallen nearly 33 percent while XM has nose dived 46 percent. But some on Wall Street think that the sell-off is overdone, especially for Sirius, and that these two admittedly risky stocks might actually be close to bottoming out.

"The stocks have pulled back for a number of different reasons. Do I think it's a good time to get in? Absolutely," said April Horace, an analyst with Hoefer & Arnett. XM and Sirius are both adding subscribers at a breakneck pace and, as a result, each company is expected to generate substantial increases in sales this year and next.

Link to full article here

6/02/2006 02:42:00 PM

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