Auto News Begins Rolling in – Sirius XM Should Benefit
Last week Ford announced their best Q1 in over a decade. Hyuandi and Kia announced huge sales numbers and even better profits, and just today Chrysler impressed the sector with their first quarterly profit in over 5 years. In addition Chrysler announced plans to repay high interest government loans by offering bonds. Joining the refinancing band wagon is Jaguar and Land Rover which plans to issue a global bond within the next two or three months. Positive news in sales and financing deals in the auto channel are great news for Sirius XM.
More auto sector news will certainly be rolling in over the next few days. Sirius XM (NASDAQ:SIRI) investors can keep tabs on all of the news by visiting my new auto sector site iKickTires.com. SiriusBuzz will certainly bring auto news here, but the more in depth information is available at iKickTires.
In what can only be characterized as great timing, Sirius XM will be announcing their own Q1 2011 results tomorrow at 8:00 AM Eastern. With auto sales coming in at an average of over 1 million units per month during the first quarter, Sirius XM should be able to post decent numbers across all metrics. For the quarter, gross subscriber additions should be a bit over 2 million. With a gross number that high, the company should have had little trouble adding NET subscribers during the quarter.
Sirius XM investors can tune into SiriusBuzz.com tomorrow morning for live blogging during the call, as we will be partner once again with SatelliteRadioPlayground to bring live coverage. In addition to the live blogging we will be doing a live radio show at 9:00 AM eastern to give reaction to the Sirius XM earnings call. Details will be made available later today.
Position – Long Sirius XM Radio
An article that you can understand. Are you listening Steve?
Not sure who steve is, but I appreciate the compliment.
And you still think SIRI is worth “nuetral” rating from Lazard Capital. Even your own, seemingly objective articles, contradict you backing up that neutral rating. Its pretty odd to play both sides of the fence. Btw, SIRI is at 2.03 right now WITHOUT any news this entire quarter for SIRI themselves. This is not like past run up and sell on the news.
Still think a $2 price target and neutral is right? You mentioned it was either 1- neutral or 2- price target increase. Well, its going up. I think you should have picked option 2 from your choices. And btw, the best analyst are covering the stock. The weak ones abandoned the firm after the merger and near bankruptcy.
That being said, I’m not being satirical here: I do enjoy reading your objective articles which is why I tune in and read your articles. However, its your “bullishness” on SIRI I questions. Even if you are Long SIRI, your not as bullish on SIRI than “I” think you should be. But to each his own and we’ll find out if Lacie Capitals “neutral” rating was correct, or like I said, Behind the Curve.
The neutral rating and held price target of $2 was Crocketts call. I see the prudence in what he did. He had a responsibility to gis clients to make a call as the equity approached his target. Those clients that had listened to his buy call at$ 1.50 are sitting on good gains. Without much news, the equity has appreciated, and going into earnings his opinion was to sit tight. For those clients, that was prudent advice. He can now analyze the quarter, make an informed decision and propery guide those clients based on the real news of the quarter.
very well put. I enjoy reading your articles even if I sometimes disagree. Your pretty objective in your articles and conservative on your SIRI position. Its good to get different view pts. I disagree with Lacy Capital but they have their own views.
As for the close, i think this was profit taking and ppl sacred to hold on to the stock prior to the CC. This is a like an never ending pattern. Anyhow, i stay Long on SIRI until news proves me other ways. I got strong hands (for my shares) and dont get shaken on dips.
I wouldn’t say that I am conservative on SIRI. I just don’t see any compelling reason for this equity to do anything other than slowly march upward as time passes, and quarterly results merit.
The “vision” is not crystal clear from a street perspective. That is the reality and the pressures that SIRI has to contend with.
I try to be as objective as possible. Sometimes that frustrates people, but in the end I do not think you get a more realistic opinion anywhere else on the web. Cheerleading sites are fine for fans, but tend to hurt investors