The leader (or monopoly) in satellite radio added more than 622,000 net subscriber adds in the second quarter. Now the company expects that 2012 net subscriber adds will rise to about 1.6 million rather than 1.3 million, and it raised its revenue forecast to roughly $3.4 billion rather than $3.3 billion. The latest quarter gave SIRIUS XM more than 1 million net adds so far this year.
The question to ask is who is right and who is wrong? Discovery Communications, Inc. (NASDAQ: DISCA) is trying to acquire SIRIUS XM Radio in a deal that is more of a control issue rather than a true buyout for the benefit of SIRIUS XM shareholders. Pandora Media, Inc. (NYSE: P) has its challenges but is now available as an option to more and more car dealers. And now Ford Motor Co. (NYSE: F) effectively issued an earnings warning, but from its non-North America operations.
SIRIUS XM is up almost 4% at $2.12 in the pre-market this Monday and the 52-week range is $1.27 to $2.41.
JON C. OGG
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