{"id":1611,"date":"2013-06-07T14:14:27","date_gmt":"2013-06-07T14:14:27","guid":{"rendered":"\/?p=1611"},"modified":"2013-06-07T14:14:30","modified_gmt":"2013-06-07T14:14:30","slug":"sirius-xm-radio-inc-nasdaqsiri-strides-forward","status":"publish","type":"post","link":"\/articles\/sirius-xm-radio-inc-nasdaqsiri-strides-forward\/","title":{"rendered":"Sirius XM Radio Inc. (NASDAQ:SIRI) Strides Forward"},"content":{"rendered":"

\"037SIRI_chart.png\"Less than a month ago Sirius XM Radio Inc. (NASDAQ:SIRI<\/a>) chalked up prices north of $3.50 per share – values that it had not seen since 2007. Late last week the price took a but of a tumble and there were mixed signals as to what was happening and why. <\/p>\n

There were some suggestions that the sudden pullback was caused by the appearance of reports that Apple was going to present its iRadio at next week’s WWDC. The current information relating to the iRadio suggests that it will be a free streaming service, supported by advertising, and one that will be a stream more similar to what P<\/a>andora Media Inc. (NYSE:P<\/a>) offers, than to Sirius’ satellite subscription offerings.<\/p>\n

Yesterday Sirius shifted their highest volume since mid-May and the stock recovered from what may have been a pullback and not the start of a downtrend. The heavier volume could suggest that traders saw the dip as an opportunity to load up on stock before the broader upward trend the stock price has been on returns.<\/p>\n

The company posted Q1 revenues of $783 million that translated into net income of $123 million, both figures sporting an increase of about 10% on a year-over-year basis. Yesterday Schaeffer’s Research quoted short selling of SIRI<\/a> stock amounting to a 12% of the public float, highlighting that should the uptrend continue, there may be a significant number of shorts scrambling to cover.<\/p>\n

\"0SIRI_logo.gif\"The company announced that it will be broadcasting a Q&A session with superstar thriller novelist James P<\/a>atterson to take place today. Additionally, Sirius will be broadcasting a weekend programming block dedicated to comedian Richard P<\/a>ryor<\/p>\n

SIRI<\/a> opened today’s session in the green and after a brief excursion below the opening price looks precariously balanced at $3.40, or 0.44% up.<\/p>\n","protected":false},"excerpt":{"rendered":"

Less than a month ago Sirius XM Radio Inc. (NASDAQ:SIRI) chalked up prices north of $3.50 per share – values that it had not seen since 2007. Late last week the price took a...<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[748,749],"class_list":["post-1611","post","type-post","status-publish","format-standard","hentry","category-news","tag-p","tag-siri"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/1611","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=1611"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/1611\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=1611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=1611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=1611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}