The SatRad Trader: Why Sirius Is Down Today...
Sanders Morris Harris came out with a note this morning regarding churn. They say that it's NOT that Sirius churn has increased, but they have decided to take an "overly" cautious position. This comes despite SIRI management's reiteration/guidance for churn. The good news...Sanders maintains 6.3 millions subs.
SIRI can't seem to get a break with these brokers. No matter what the company does: exceed subscriber expectations, release new hardware on time (with great industry reviews), resolve issues with FCC and RIAA, etc, there seeems to be no reward.
Sirius Satellite-SIRI increasing churn is important part of the story, HOLD @ SMMI
(theflyonthewall.com 10/06 08:26:02)
Sanders Morris believes increasing churn will be important going forward as it has been at unsustainably low levels due to marketing promotions, one-year free service in new cars and early adopters. The broker expects SIRI to end the year with 6.3M subs.
10/06/2006 10:03:00 AM
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