JP Morgan weighs in on May NPD data
June 15, 2006Sirius Satellite Radio-SIRI growth estimates for Q2 go conservative(theflyonthewall.com 06/15 06:24:20)
Neutral@JPMS -
JPMorgan has put Sirius' growth estimates for Q2 at a more conservative pace due to NPD data that suggested slower growth trends than previously expected. The firm now estimates 550k subs in Q2, down from 599k subs. They also see retail net adds of 269k in the quarter, down from 343k. While JPMorgan believes Sirius should beat year-end subscriber guidance they feel shares will be constrained by slower retail growth and consumer spending.
XM Satellite Radio-XMSR tough trends push Q2 sub growth estimates back(theflyonthewall.com 06/15 06:41:17)
mailto:back-Neut@JPMS -
Second quarter trends look weaker than expected, accordingto JPMorgan, and they will now be more conservative to XMSR's subs numbers.The firm has lowered their expectations for 2006 subs to 8.4M, below guidance of 8.5B. They now see Q2 net subs of 439k, down from 688k and retail net adds down 11.5% Y/Y, or 180k. While a miss on 2006 guidance could put pressure on the stock, the firm believes interest for XM Radio could pick up in 2007 with Asian autos ramping.
6/15/2006 06:46:00 AM
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