Sirius (SIRI) staged an odd rally late Friday, moving up 15%. the rise began after 2 PM.
The sharp increase in the shares was may on tremendous volume, nearly 47 million shares.That is nearly twice what the company trades in a normal day.
There may be more rumors that the FCC is going to give the Sirius merger with XM Satellite (XMSR) more generous terms than Wall St. thinks. So far it has been assumed that pricing to the consumer will be capped to prevent monopoly pricing. But, both companies are in such bad financial shape that regulators may fell allowing for no increases in pricing to the consumer could doom the two companies.
No matter what the cause, Sirius is likely to drop back to where its started and drop back there early Monday.
Douglas A. McIntyre
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
