SIRIUS Satellite Radio (Nasdaq : SIRI) announced late Monday that they are cutting their subscriber forecast for the end of the forth quarter.\u00c2\u00a0 They now feel that with the slowness of the current holiday sales, they will likely have between 5.9 – 6.1 million subscribers.\u00c2\u00a0 This is slightly down from previous forecasts which saw between 6.1 – 6.3 million<\/p>\n
With the news of the lower subscriber forecast, shares fell big in early Tuesday trading.\u00c2\u00a0 Only a couple hours into trading and shares were down 31 cents or 7.43% to 3.86.\u00c2\u00a0 Surprisingly, XM Satellite Radio (Nasdaq : XMSR) who had not mentioned a decrease to their subscriber forecast is also down 70 cents or 4.79% to 13.91.<\/p>\n
Shareholders must have a sense that the satellite radio market isn’t quite as hot as they were thinking.\u00c2\u00a0 I was predicting that consumer demand wouldn’t be as high this Christmas season since neither Sirius or XM has made any new major programming announcements.\u00c2\u00a0 The battle for SIRIUS and XM isn’t between themselves, it is between them and other modes of entertainment.\u00c2\u00a0 Hopefully someone in their marketing departments will think of something quick because this holiday season is quickly coming to a close.<\/p>\n","protected":false},"excerpt":{"rendered":"
SIRIUS Satellite Radio (Nasdaq : SIRI) announced late Monday that they are cutting their subscriber forecast for the end of the forth quarter.\u00c2\u00a0 They now feel that with the slowness of the current holiday sales, they will likely have between 5.9 – 6.1 million subscribers.\u00c2\u00a0 This is slightly down from previous forecasts which saw between … Continue reading SIRIUS cuts Subscriber Forecast – Stock Drops<\/span>