Thursday, June 29, 2006

Forbes Reports Good Fathers Day For XM

June 29, 2006

Forbes.com has published a story regarding Fathers Day sales for XM Satellite Radio. The story quotes respected analyst Robert Peck of Bear Stearns who reportrs that XM's second quarter retail sales seem to be on track.

Story Excert:

Web traffic to XM's website peaked around Father's Day at levels "significantly higher" than average, indicating a possible increase in interest around the holiday, said Peck. Sirius Satellite Radio's traffic stayed within the average range, but spiked after Father's Day, he added.

In addition, Peck said he's found a "significant relationship" between XM's retail gross subscriber additions and sales of Apple Computer's iPod.

Based on this model, the analysis reiterated his second-quarter net subscriber additions estimate of 395,000 for XM.

Bear Stearns still rates XM at underperform, and states that they feel that XM needs to meet expectations for a number of quarters to sustain a rally.

SSG Readers are encouraged visit Bear Stearns for more information on XM's analysys HERE

The link to the Forbes.com story is HERE