Pre-Market Volume Surge: Siris & XM (SIRI, XMSR)

Posted in General 
June 16th, 2008

Sirius Satellite Radio (NASDAQ: SIRI) and XM Satellite Radio (NASDAQ: XMSR) are seeing shares surge in pre-market trading this Monday morning.  The culprit is a tentative approval recommendation of the merger from FCC with certain conditions on a la carte subscribing.

Sirius has seen 2 million shares trade hands and is at $2.75 already this morning after a $2.54 close Friday; average volume 29 million shares; 52-week trading range $2.36 to $3.94.

XM has already seen 190,000 shares trade with last at $11.77 after closing at $10.87 Friday;  average volume 4.2 million shares; 52-week trading range $9.62 to $16.44.

Sirius should be one of the top volume stocks today.

8:27 AM EST

Jon Ogg
June 16, 2008

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