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Media

Sirius And XM Rise A Flash In The Pan

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By Douglas A. McIntyre Published
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After a nice run up yesterday on an upgrade from Citigroup, XM and SIRI just can’t keep the momentum. The Citi research report said that more cars would be satellite radio receivers in 2007 and 2008 giving XM the opportunity to drive up its subscriber base. Citi also said that it liked the chances that the two companies would merge.

On the upgrade, XM moved from $15.35 to $16.70. But, today it is back down to $15.97. Sirius moved from $3.75 to $4.17. Today is changes hands at $3.88.

It may be that, in stark contrast to the new iPhone, Sirius and XM are companies that cannot attract consumers with hot new products. The lack of enthusiasm for the shares is palpable.

Maybe Howard Stern will start broadcastin on the iPhone.

Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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