XM Satellite Radio (XMSR) is trading down almost 2% pre-market. The company said it added more than 442,000 new net subscribers during the fourth quarter of 2006 and more than 1.695 million new subscribers in all of 2006 to end with more than 7.625 million subscribers. XM also announced the same as Sirius in that it achieved operation positive cash flows in the fourth quarter of 2006.
This doesn’t appear to be any big disappointment, but the stock did trade higher earlier this week when Sirius announced its preliminary results. It looks like traders are just selling the news.
Wall Street has told the companies they need to merge and we outlined what the combined company could save. The rumors and news reports have been hinting and hoping for a deal almost every week, and if the companies are going to merge they should do it before their forward growth numbers start to look lower than prior years on average.
Jon C. Ogg
January 5, 2007
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