Sirius Kicking Butt in 2010
Hard to believe: A year ago, Sirius XM Radio shares were trading at around 35 cents and the company was on its way to being slapped with a Nasdaq minimum-bid notice. Today, Sirius shares are trading at $1.15, up nearly 7.5 percent on news of an improved full-year outlook.
The recovery in consumer spending and auto sales is evidently giving Sirius (SIRI) quite a lift, enough for it to boost projected new subscriptions to approximately 750,000 from about 500,000, its revenue to $2.75 billion and its profit to $575 million.
Quite a change from last year, when the company seemed headed toward almost certain bankruptcy. Its shares are up some 75 percent this year.