Sirius Satellite Launches, Stock Falls
Sirius Satellite Radio has had a takeoff and a crash of sorts. The company's stock price hit the skids as Wall Street debated the future earnings potential for the satellite radio company, which is set to start its service within the next few months.
Salomon Smith
Barney analyst John Coates cut its rating from "outperform" to "neutral," citing worries about Sirius' technology and ability to attract customers. At the same time, Dain Rauscher Wessels analyst Jonathan Lawrence upped the stock to "strong buy" from "buy." Merrill Lynch analyst Marc Nabi split the difference, holding Sirius at "accumulate."
The uncertainty and debate shaved more than 15% off its value. On the upside, Sirius has picked up $150 million in capital from Lehman Brothers, which will keep Sirius running through the end of the fourth quarter.
Salomon Smith
The uncertainty and debate shaved more than 15% off its value. On the upside, Sirius has picked up $150 million in capital from Lehman Brothers, which will keep Sirius running through the end of the fourth quarter.
In addition, make sure to read these articles:
- Gartner Says Automotive Manufacturers to EmbraceDigital Satellite Radio for New Revenue...
- XM, Sirius See Larger Market Than Pay TV
- Satcasters Get High Marks From Analysts
- Denali's Sanjay Srivastava to Participate At Dain Rauscher Wessels Technology CEO Summit.
- Dain Rauscher Wessels Report Says Online CommerceGrowth and Life Changing Internet Models...
- REPEAT/ Denali's Sanjay Srivastava to Participate At Dain Rauscher Wessels Technology CEO...
- Dain Rauscher Wessels Report Says Tune Into SatelliteDigital Radio.
- Verplex CEO Michael Chang to Address Attendees Of Dain Rauscher Wessels Technology CEO...
- Dain Rauscher Wessels Holds Ninth Annual EnergyConference Next Week in Houston.
- Dain Rauscher Wessels Report Says Mobile Internet Will Drive Strong Growth for Wireless...
- Dain Rauscher Wessels Report Forecasts DNA MicroarrayTechnology Achieving Market...
- Dain Rauscher Wessels, RBC Dominion Securities Combined, Renamed RBC Capital Markets.
- Dain Rauscher Wessels Report Says Super-Major OilStocks are Attractive.
- Dain Rauscher Wessels Initiates Coverage of PrimusKnowledge Solutions With a Buy Rating.
- Dain Rauscher Wessels Opens Office inParis.
Business Editors/High-Tech Entertainment Writers SAN JOSE, Calif.--(BUSINESS WIRE)--Nov. 27, 2000 Digital satellite radio is scheduled to be available in 48 states in the United States ......
New York— As the number of satellite radio subscribers races past 5 million, and as XM Satellite Radio alone continues to grow faster than any ......
Market analysts are giving XM and Sirius major nods ......
Business Editors PALO ALTO, Calif.--(BUSINESS WIRE)--Nov. 7, 2001 A Speaker During Panel Titled, "Designing Electronic Systems in an SOC World" Sanjay Srivastava, president and chief ......
Business Editors MINNEAPOLIS--(BUSINESS WIRE)--June 26, 2000 "When the dust settles, I believe investors will be aggressively looking for opportunities to participate in the e-commerce growth ......
Business/Technology Editors REPEATING... PALO ALTO, Calif.--(BUSINESS WIRE)--Nov. 7, 2001 A Speaker During Panel Titled, "Designing Electronic Systems in an SOC World" Sanjay Srivastava, president and ......
Business Editors/High Tech Writers MINNEAPOLIS--(BUSINESS WIRE)--July 28, 2000 "We believe satellite digital audio radio service will become a major component of in-vehicle telematics over the ......
Business Editors MILPITAS, Calif.--(BUSINESS WIRE)--Nov. 7, 2001 Will Participate in Panel Titled, "Designing Electronic Systems in an SOC World" C. Michael Chang, president and chief ......
Business/Energy Editors Dain Rauscher Wessels Energy 2000 Conference MINNEAPOLIS--(BUSINESS WIRE)--Sept. 15, 2000 Set to the backdrop of gas prices at all-time highs around the world, ......
Business Editors & Technology Writers MINNEAPOLIS--(BUSINESS WIRE)--Jan. 19, 2001 "The wireless industry has experienced meteoric growth over the past decade and the wireless infrastructure and ......
Business Editors & Analysts NOTE TO EDITORS: The following is an investment opinion issued by Dain Rauscher MINNEAPOLIS--(BUSINESS WIRE)--Dec. 15, 2000 With the watershed event ......
Business Editors MINNEAPOLIS--(BUSINESS WIRE)--Nov. 1, 2001 Royal Bank Financial Group (NYSE:RY) today announced its corporate and investment banking units will operate globally under the name ......
Business Editors NOTE TO EDITORS: The following is an investment opinion issued by Dain Rauscher Wessels. MINNEAPOLIS--(BUSINESS WIRE)--July 13, 2000 "Looking forward, I see OPEC ......
Business Editors & Analysts NOTE TO EDITORS: The following is an investment opinion issued by Dain Rauscher Wessels. MINNEAPOLIS--(BUSINESS WIRE)--April 28, 2000 Dain Rauscher Wessels ......
Business Editors MINNEAPOLIS--(BUSINESS WIRE)--May 1, 2000 Dain Rauscher Wessels, the equity capital markets division of Dain Rauscher, has opened an institutional equity sales office in ......
Email
Digg It
del.icio.us
Related Resources
Press Releases
- Gartner Says Automotive Manufacturers to EmbraceDigital Satellite Radio for New Revenue Opportunity.
- Schaeffer's Daily Market Blog Features Amylin Pharmaceuticals, Lehman Brothers, Altera, Ericsson, and Sirius Satellite Radio.
- Schaeffer's Daily Market Blog Features Martha Stewart Living Omnimedia, Symantec, United Utilities, Sirius Satellite Radio, and KFx, Inc.
Business Resources
Sponsored Links
Site Map | Contact Us | FAQs | About Us | Media Kit | Reprints | RSS Directory | Sign Up for Free Newsletters | Disclosure Policy
Copyright © 1999 - 2008 AllBusiness.com, Inc. All rights reserved.
No part of this content or the data or information included therein may be reproduced,
republished or redistributed without the prior written consent of AllBusiness.com.
Use of this site is governed by our Copyright and Intellectual Property Policy, Terms of Use Agreement and Privacy Policy.
© Copyright 2000 Nielsen Business Media, Inc. All rights reserved.
You may not repost, republish, reproduce, package and/or redistribute the content of this page,
in whole or in part, without the written permission of the copyright holder.
Get In-Depth Company Information from Hoover's | Buy a D&B Credit Report | What is in Your Company's D&B Credit Report? | Article Archives
Online Business Database | Online Business Information | Email Marketing Lists | Sales and Marketing Solutions | Business Mailing Lists
Online Business Database | Online Business Information | Email Marketing Lists | Sales and Marketing Solutions | Business Mailing Lists
Information and opinions on AllBusiness.com solely represent the thoughts and opinions of the authors and are not endorsed by, or reflect the beliefs of,
AllBusiness.com, its parent company D&B, and its affiliates.
AllBusiness.com, its parent company D&B, and its affiliates.
