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Stock Market & Financial Investment News

News Breaks
October 25, 2013
10:08 EDTSIRISirius XM retreats after Goldman cuts rating on shares
Shares of satellite radio company Sirius XM (SIRI) are sinking after Goldman Sachs downgraded the stock in a note to investors earlier today. WHAT'S NEW: Before the stock market opened today, Sirius' stock only had to rise 9% to equal Goldman's price target of $4.25, Goldman analyst Matthew Niknam wrote. Investors should await a more attractive entry point before buying the stock, he advised. Turning to Sirius' third quarter results, Niknam noted that the company's revenue came in below expectations. The analyst blamed the miss on lower than expected average revenue per user, or ARPU. However, Sirius' ARPU should get a boost from a price increase that the company plans to implement in January 2014, the analyst predicted. Nevertheless he downgraded the stock to Neutral from Buy and removed the stock from the firm's Americas Buy List. WHAT'S NOTABLE: Yesterday morning Sirius reported lower than expected third quarter earnings and revenue. The company's 2013 and 2014 revenue guidance both came in slightly below analysts' consensus estimates. TODAY'S PRICE ACTION: In early trading, Sirius fell 17c, or 4.4%, to $3.74.
News For SIRI From The Last 14 Days
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October 28, 2014
07:04 EDTSIRISirius XM sees FY14 revenue $4.15B, consensus $4.15B
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07:03 EDTSIRISirius XM reports Q3 net subscriber additions of 432,817
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07:02 EDTSIRISirius XM reports Q3 adjusted EBITDA up 29% to $381M
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07:02 EDTSIRISirius XM reports Q3 EPS 2c, consensus 2c
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October 27, 2014
15:36 EDTSIRINotable companies reporting before tomorrow's open
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