*** XM Satellite Radio - NEWS *** - 500 Beiträge pro Seite

[candlebougie]

Servus!!

Da sich in diesem Board kaum jemand um das Thema " SatelliteRadio" und wirklich niemand im speziellen um XM kümmert, werde ich in Zukunft unternehmensrelevante NEWS posten - um Deutschland diese unglaublich Wachstumsbranche näher zu bringen" "


Hier die Basics:

About XM Satellite Radio

In the fall of 2001, XM Satellite Radio pioneered the introduction of satellite radio in the U.S. Today, XM is America`s #1 satellite radio service with more than 1.6 million subscribers. Broadcasting live daily from studios in Washington, DC, New York City and Nashville, Tennessee at the Country Music Hall of Fame, XM`s 2004 lineup includes more than 120 digital channels of choice from coast to coast: 68 commercial-free music channels, featuring hip hop to opera, classical to country, bluegrass to blues; 33 channels of premier sports, talk, comedy, children`s and entertainment programming; and 21 channels of the most advanced traffic and weather information for major metropolitan areas nationwide. Affordable, compact and stylish XM satellite radio receivers for the home, the car, the computer and boom boxes for " on the go" are available from retailers nationwide. In addition, XM is available in more than 80 different 2004 car models. XM is a popular factory-installed option on more than 40 new General Motors models, as well as a standard feature on several top-selling Honda and Acura models. Avis customers can enjoy XM as a standard feature in the company`s premium and luxury vehicles. Passengers on JetBlue Airways and AirTran Airways will be able to listen to XM`s programming in-flight later in 2004. For more information about XM, visit
http://www.xmradio.com.

[candlebougie]

Press Release Source: XM Satellite Radio


XM Satellite Radio to Open NASDAQ Market in New York City on Thursday, April 8
Wednesday April 7, 10:30 am ET


NEW YORK, and WASHINGTON, April 7 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nasdaq: XMSR - News), the pioneer and leader in satellite radio, announced today that Hugh Panero, XM President and CEO, and Gary Parsons, XM Chairman of the Board, will preside over the opening of the NASDAQ market in New York City on Thursday, April 8, 2004, at 9:30 a.m. ET.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
This week XM is celebrating the opening of the New York International Auto Show. XM products and services will be on prominent display during the nine- day event, which attracts more than 1.2 million visitors each year. XM will be located at the New York Auto Show in Booth CP11 at the Crystal Palace in the Javits Center.

The Wall Street Journal recently declared XM to be one of the best- performing stocks of 2003. Last week, XM announced it ended the first quarter of 2004 with more than 1.68 million subscribers. XM is one of the fastest- growing entertainment media ever, according to data compiled by The Yankee Group and Greystone Communications.

The live ceremony at NASDAQ`s MarketSite broadcast studio at 4 Times Square is available via satellite. Photographs of the event will also be available. For more information, contact Allen Goldberg at 202-380-4316.

[candlebougie]

Press Release Source: XM Satellite Radio


XM Radio and NAVTEQ Introduce XM NavTraffic: The Nation`s First Satellite Traffic Information Service for Vehicle Navigation Systems
Wednesday April 7, 12:00 pm ET


NEW YORK, April 7 /PRNewswire-FirstCall/ -- NEW YORK INTERNATIONAL AUTO SHOW -- XM Satellite Radio (Nasdaq: XMSR - News), the pioneer and leader in satellite radio, today unveiled a groundbreaking new satellite data information service called XM NavTraffic. The service is powered by NAVTEQ Traffic, a new product from NAVTEQ, the leading global provider of digital map data for vehicle navigation systems. XM NavTraffic is the nation`s first satellite traffic information service that enables a vehicle`s on-board navigation system to display current traffic information for a driver`s chosen route.
(Photo: http://www.newscom.com/cgi-bin/prnh/20040407/DCW010 )
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
XM NavTraffic will debut this fall as the provider of traffic data to the AcuraLink communication system that will be a standard feature on the all-new 2005 Acura RL. The state-of-the-art Acura Satellite Navigation System will provide drivers with real-time traffic information integrated with an in- vehicle navigation system, a first in North America.

" The XM NavTraffic information service provides the critical infrastructure side of Acura`s advanced navigation capabilities," said Tom Elliott, executive vice president of American Honda Motor Co., Inc.

XM NavTraffic is designed to fully integrate with the vehicle`s on-board navigation system to display current information about traffic incidents, average traffic speed along specific roadways, and estimated travel times based on traffic conditions. This information is delivered to the vehicle by the XM Radio satellites, which cover the U.S. from coast to coast. XM NavTraffic makes it possible for on-board vehicle navigation systems to provide continuously updated traffic information personalized for each driver`s needs.

Later this year, General Motors is expected to offer XM NavTraffic as an optional integrated feature on select 2005 Cadillac CTS vehicles.

XM and NAVTEQ will demonstrate the XM NavTraffic service this week at the New York International Auto Show in Booth CP11 at the Crystal Palace in the Jacob Javits Center.

" XM NavTraffic, when integrated into vehicles, is a powerful tool for U.S. drivers to understand, anticipate, and avoid traffic congestion," said Hugh Panero, President and CEO of XM Satellite Radio. " The XM NavTraffic technology will help bring personalized, route-specific traffic information further into the mainstream," Panero said.

XM NavTraffic provides the following traffic data to vehicles:

* Unscheduled traffic incident data, such as accidents and disabled
vehicles

* Scheduled traffic incident data, such as road construction and road
closures

* Traffic flow information (the actual speed data from road sensors)

* Alternate routes to avoid congestion and reach your destination faster


XM has partnered with NAVTEQ, which combines information from a variety of sources, including:

* Road sensors, which measure vehicle speed

* Traffic camera information

* Local government incident data

* Road construction schedules from state departments of transportation


To deliver seamless traffic data for the XM NavTraffic service, NAVTEQ Traffic aggregates the data from multiple sources across the country, including the leading commercial traffic data providers, government departments of transportation, police & emergency services, road sensors, cameras and real-time aircraft reports. NAVTEQ Traffic performs extensive data quality processing to provide the most complete and accurate information feed of nationwide traffic. The traffic data is continuously broadcast via XM`s network of satellites and ground-based repeaters, ensuring that the latest information is always available to the driver.

XM NavTraffic will be offered as a premium service with XM`s 2004 line-up of 120-plus channels of commercial-free music and premiere news, sports, talk, and entertainment. Final pricing will be announced prior to launch. XM will broadcast nationally the traffic information for 20 markets this fall: Atlanta, Baltimore, Boston, Chicago, Dallas/Ft. Worth, Detroit, Houston, Los Angeles, Miami-Ft. Lauderdale, Minneapolis-St. Paul, New York City, Philadelphia, Phoenix, Pittsburgh, San Diego, San Francisco/Oakland, San Jose, Seattle, St. Louis, and Washington, D.C. XM and NAVTEQ plan to expand the service to cover additional markets in the future.

XM NavTraffic and NAVTEQ Traffic are setting the standard as the next- generation technology platform for traffic information, designed for flexible industry-wide adoption by automakers and aftermarket system manufacturers.

XM NavTraffic is the latest and most advanced technology offered by XM to help drivers deal with traffic problems. On February 28 the company launched XM Instant Traffic & Weather, an audio service that will offer 21 XM channels in 2004, each one dedicated to traffic and weather in a specific major market 24 hours a day, 7 days a week.

XM Instant Traffic & Weather channels and the new XM NavTraffic system are two separate and distinct services. Instant Traffic channels offer in-depth audio reports about traffic and weather in a certain metro area. Instant Traffic channels were added to XM`s basic channel line-up for no additional charge. Meanwhile, XM NavTraffic is a premium service that works with the vehicle`s navigational system, representing the next generation in traffic data. XM NavTraffic provides real-time traffic information for a personal route, as well as personal travel times and alternate routes.

[candlebougie]

Release Source: XM Satellite Radio


Honda to Double Production of Vehicles Factory-Installed With XM Radio for 2005 Model Year
Wednesday April 7, 12:05 pm ET
Growing From 200,000 in Model Year `04 to 400,000 for Model Year `05


NEW YORK, April 7 /PRNewswire-FirstCall/ -- NEW YORK INTERNATIONAL AUTO SHOW -- XM Satellite Radio (Nasdaq: XMSR - News), the pioneer and leader in satellite radio, today announced that American Honda will increase the number of models which will be sold with XM radios as standard equipment for the 2005 model year. Honda estimates that the number of models should result in an increase in sales from 200,000 vehicles in 2004 to 400,000 vehicles in 2005. All of Honda`s XM-equipped models will be sold with a three-month free trial subscription.

" Throughout the 2004 model year, Honda has been increasing the sale of XM- equipped vehicles faster than expected," said Hugh Panero, XM President and CEO. " XM is thrilled that American Honda will broaden the availability of XM in such a significant way for the 2005 model year."

" XM is proving to be a very popular feature that our customers want to see offered on a broader range of models," said Tom Elliott, Executive Vice President of American Honda Motor Co., Inc. " It`s a feature that adds real value to the product and the customer experience."

According to American Honda Motor Co., Inc., a total of seven model year 2005 Acura and Honda models will include XM as a factory-installed standard feature. Further details regarding XM availability on additional 2005 models will be announced later this year by American Honda. For the 2004 model year, XM is a standard factory-installed feature on the Acura RL, Acura TL and select Honda Accord models. Also, XM is available as a dealer-installed option on the 2004 Honda Pilot, Honda Odyssey, Honda S2000 and Acura TSX.

Earlier today at the New York International Auto Show, Honda debuted the all-new 2005 Acura RL, featuring the groundbreaking XM NavTraffic service, which enables a vehicle`s on-board navigation system to display current traffic information for a driver`s chosen route, and XM Satellite Radio`s 120- plus channels of commercial-free music and premier news, sports, talk, and entertainment, both available as standard features.

XM Satellite Radio will have its products on display at Booth CP11 in the Crystal Palace at the New York International Auto Show from April 7 to April 18.

[candlebougie]

Bilder von der New York International Auto Show :

http://www.xm411.com/phpbb/viewtopic.php?p=68003#68003

Das neue XM NavTraffic-Informationssystem!!!

[candlebougie]

Press Release Source: XM Satellite Radio


Saab to Offer XM Satellite Radio
Thursday April 8, 7:30 am ET
First-Ever Saab SUV to Feature XM Radio as Part of Expanded Lineup of Premium Vehicles


NEW YORK and WASHINGTON, April 8 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nasdaq: XMSR - News), the pioneer and leader in satellite radio, today announced that Saab will offer XM Radio in its vehicle models, beginning with the brand-new 2005 Saab 9-7X sport utility vehicle.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
The Saab 9-7X makes its world debut this week at the New York International Auto Show. The new model is Saab`s first sport utility vehicle. The new 9-7X with factory-installed XM Radio will be built at GM`s Moraine Assembly plant in Ohio, beginning in the first quarter of 2005.

Additionally, beginning this fall, Saab will offer XM as a dealer- installed option on all of its models through its Saab Accessory program. Saab will further expand the availability of XM as a factory installed feature on additional Saab models in the 2006 model year.

"We`re very excited to welcome the premium Saab brand to the growing family of vehicles with XM Radio," said Hugh Panero, President and CEO of XM Satellite Radio. "We`re proud that Saab chose XM Radio for its first SUV. In 2003, Saab was the fastest growing European premium brand in the U.S. market, and XM is one of the fastest growing entertainment media ever, so this is really an ideal partnership between two rapidly-expanding companies."

"We know Saab customers want quality products that reinforce their individualism. XM Satellite Radio with over 120 channels of programming is a perfect fit with the Saab brand and we are excited to be offering it on our newest entry, the 9-7X," said Debra Kelly Ennis, President of Saab Cars USA.

[candlebougie]

Auszüge aus CNBC-Interview mit Gary Parsons:

XM on 1.1M 2005 GM cars

Cash already cover fixed costs

[candlebougie]

XM Satellite Radio [XMSR]
Opens The NASDAQ Stock Market

http://www.nasdaq.com/reference/200404/market_open_040804.st…

[candlebougie]

Press Release Source: XM Satellite Radio


XM Satellite Radio Conference Call for First Quarter 2004 Financial Results
Monday April 19, 11:01 am ET


WASHINGTON, April 19 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nasdaq: XMSR - News) has scheduled a conference call on Thursday, May 6, 2004 at 10:00 AM ET to announce and discuss its first quarter 2004 financial results. Prior to the call, XM Radio`s quarterly results will be posted to the Company`s website at www.xmradio.com and released to PR Newswire and First Call.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
To listen to the conference call via telephone, please dial in to one of the following numbers approximately 10 minutes prior to the planned start of the call.

Call-in number: [phone]
Local call-in number: [phone]


The conference call can also be accessed via a live webcast on the Company`s website, located at www.xmradio.com. The webcast of the call will also be archived on the Company`s website.

If you are unable to participate in the scheduled call, a replay of the conference call will be available after 1 p.m. on Thursday, May 6, 2004 through 1 p.m. on May 13, 2004.

Playback Numbers: [phone]
Local call-in number: [phone]
Conference ID#: 6913664

[candlebougie]

so, ein schub neuer Meldungen:

Press Release Source: XM Satellite Radio; Antex Electronics


XM Radio and Antex Electronics to Offer Multi-Zone Satellite Radio Receivers for the Home
Wednesday May 26, 9:30 am ET
Antex Receivers to Deliver XM`s Superior Sound in Three Separate Listening Zones


GARDENA, Calif. and WASHINGTON, May 26 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nasdaq: XMSR - News), the pioneer and leader in satellite radio, and Antex Electronics, a developer of digital audio and satellite reception products, today announced an agreement under which Antex will develop and market high-end satellite radio products for receiving XM`s critically- acclaimed programming. The first product developed under the agreement, the XM-3000 multizone satellite receiver, will be introduced into the Antex TriplePlay line of multizone receivers and will be ready for market later this year.

"Antex is a leading designer and manufacturer of high-end audio products, and we`re glad to be working with them to develop new products for listening to XM`s 120-plus channels of commercial-free music and premier talk programming," said Phil Whitworth, XM Director of Product Marketing. "The XM- 3000 is a strong response to the growing consumer demand for XM service throughout the home and provides an excellent platform for delivering XM into a variety of listening spaces."

"We`re pleased to put our expertise in satellite audio product development to work with XM," said David Foley, Antex president. "We have been pioneers in developing commercial and consumer satellite receivers for digital audio services, and the opportunities presented by this partnership will continue to keep us at the forefront in both the consumer and commercial market segments."

The XM-3000 receiver enables listeners to receive up to three different XM Radio channels and distribute them to different rooms, or zones, simultaneously. To accomplish this, the XM-3000 receives XM programming via a single antenna. This input is split internally into three tuner modules, each containing the complete XM programming lineup.

Users will have three ways to control each of the three tuners: Directly through the buttons on the front panel; via an infrared wireless remote control (included); or through wired or wireless controllers located throughout the house. Individual subscriptions are required for each of the three tuners.

Antex, which develops digital audio products for commercial and home use, makes digital audio satellite receivers for a variety of satellite applications, and it is the first company in the world to develop and market multi-zone satellite audio receivers. Multi-zone receivers receive and distribute multiple satellite audio channels simultaneously, and can be used in both home and commercial settings.

[candlebougie]

webcast der "Deutsche Bank Securities Media Conference" ist im Netz:

http://www.corporate-ir.net/ireye/confLobby.zhtml?ticker=XMS…

interessantester Satz (auf Toyota angesprochen):

"We continue to wait for their announcement for them to go factory install for which we are working with them on the engineering status."





Weitere News:

Aus dem J.P. Morgan-Bericht von gestern:

Sirius’ top partner, Ford, has not yet made any volume commitments, likely due to a
need to focus on other core issues. It’s not clear when Ford will announce production
commitments. Chrysler has committed to produce a total of 550,000 vehicles with
Sirius radios by 2006, and we estimate the ramp will progress from about 50,000 in
2004 to 200,000 in 2005 and 300,000 in the 2006 model year.

Toyota stands out as the biggest arguably unaligned automaker. Toyota has
committed to make XM an exclusive option for dealer installation on two models—
the youth-skewing Scion and Solera. Toyota has not yet announced an exclusive
alliance for factory installation on any of its vehicles.

BUT WE BELIEVE THAT XM HAS THE INSIDE TRACK FOR A FACTORY EXCLUSIVE, BASED ON TOYOTA`S SCION AND SOLERA MOVE, AND ALSO OUR CONVERSATIONS WITH INDUSTRY SOURCES.

If XM wins Toyota, it would have exclusive alliances with automakers responsible
for 47.6% of total 2003 U.S. auto sales, while Sirius would have alliances with
automakers representing 36.2% of 2003 sales. Furthermore, XM’s partners are
ramping up much faster, with GM and Honda committing to annual production of
1.5 million cars we estimate in the 2005 model year, versus Sirius partner Chrysler’s
commitment, which we estimate at 200,000

[candlebougie]

hier die letzten news noch als mp3:

http://www.pokerroundup.com/toyota.mp3

[candlebougie]

Press Release Source: SkyWaves Research Report


SkyWaves Research Report Releases New Satellite Radio Growth Forecasts and Publishes an Exclusive Interview With Satellite Radio Pioneer
Monday June 28, 8:30 am ET


ANN ARBOR, MI--(MARKET WIRE)--Jun 28, 2004 -- SkyWaves Research Report, an Ann Arbor, Mich.-based research publication covering the satellite radio industry, reported Monday that satellite radio subscriptions are likely to reach startling numbers by the end of the decade.
In its summer edition, SkyWaves Research released the findings of its annual long-term growth forecast, conducted every June and based on the widely accepted Bass Model of consumer adoption rates. SkyWaves Research reported that satellite radio broadcasters -- XM Satellite Radio (NasdaqNM:XMSR - News) and Sirius Satellite Radio -- together could serve more than 42 million net subscribers by the end of 2009.



"Satellite radio already is the fastest growing consumer audio product in history, and our forecast suggests that even more rapid growth is on the horizon," said Dr. Bob Richards, Ph.D., SkyWaves` director of research.

"The growth rates have built so quickly that we have dropped our minimum forecast scenario because it proved too conservative," Richards said. "The true growth rate appears certain to fall between our nominal and maximum projections, so we have moved to a single forecast."

Based on its extensive channel checks and additional analysis, SkyWaves Research estimated that XM would reach a year-end total of at least 3.1 million subscribers. SkyWaves Research also estimated that Sirius would reach a year-end total of at least 910,000 subscribers. An expected flurry of new XM products -- and particularly robust fourth quarters for XM and Sirius -- could boost the numbers even higher.

The conclusions, plus second-quarter subscriber trends and forecasts, were included in the latest, 49-page edition of SkyWaves Research, which brings its readers important information, in-depth analysis and interviews that are not available elsewhere.

This edition features an exclusive report from inside XM`s Innovation Center in Florida and an interview with satellite radio engineering pioneer Stell Patsiokas. "The foundation is there," Patsiokas told SkyWaves Research. "It literally was designed for a skyscraper. I can tell you right now, we are only on the first few floors of the skyscraper."

Also in the edition: a complete primer on the satellites deployed and scheduled to be deployed by Sirius and XM -- including a look at the forthcoming launch of XM3; a detailed analysis of the used car market and how it will deliver previously unrealized numbers of satellite radio subscribers; an inside report on the natural tensions between radio listeners, programmers and consultants; and more.

"SkyWaves Research remains committed to bringing subscribers the news and analysis they have come to expect and depend on as developments accelerate in the satellite radio industry," Richards said.

A preview of the latest quarterly report is available at this website link, http://www.skywavesresearch.com/pages/6/index.htm

Full details can be acquired through this website link, http://www.skywavesresearch.com/pages/4/index.htm




Diese Research-Gruppe hat bisher eine höhere Genauigkeit bei ihren Prognosen gehabt als alle großen Investmenthäuser....
Sie erwarten laut ihrem Bericht demnächst weitere strategische Partner für XM, die den Verkauf vorantreiben sollten sowie signifikate Erweiterungen der Programm-Inhalte!!!!

[candlebougie]

Hie die letzten Analysteneinstufungen:


UPGRADES & DOWNGRADES HISTORY
Date Research Firm Action From To
24-Jun-04 Legg Mason Initiated Buy
18-Jun-04 Barrington Research Initiated Outperform
16-Jun-04 Wachovia Initiated Mkt Perform
7-Jun-04 JP Morgan Initiated Overweight

[candlebougie]

und weitere News und Spekulation, die gestern bekannt wurden:

-neue positive Analysteneinstufung (diesmal Fulcrum Global): BUY

-J.P.Morgan-Kommentar über walkman-ähnliches Produkt::

<< 07:28 XMSR
XM Satellite to come out with a wearable version of satellite radios - JP Morgan (24.51 )

JP Morgan believes that XMSR is likely to begin selling wearable satelllite radios bundled with MP3 players by this Christmas. Firm believes that SIRI will not enter this mkt before mid-2005, and firm thinks this new product category is likely to become an important driver of retail subscriber growth and could provide a notable subscriber growth advantage to XMSR over SIRI, assuming XMSR is able to satisfactorily address key questions of indoor signal reception, pricing, and features. If XMSR`s wearable sales ramp to nearly 2% of the projected portable MP3 player market, and total only a tenth of sales in the first three years of Apple`s iPod, they could boost XMSR retail subcriber growth by more than 40% by 2006. Firm says this would provide upside to their ests. Separately, firm is upping their Q2 net subscriber growth projection for XMSR to 405,156 from 344,383 to reflect growth through early June. >>



-Gerüchte über neue Vertriebswege:

I would like to let you folks know that today, June 25th, Excel powered by VarTec announced to their several hundred thousand Independent Representatives that in addition to great local, long distance, and wireless telephone products and dial-up Internet service, they can NOW PROVIDE XM SATELLITE RADIO to themselves, their existing customers, their friends and relatives and earn a commission each time their XM customers pay their bills.

Many, if not most, of those reps will get XM for themselves to try it out so that they know what they are talking about when talking to prospective customers.

It would not be out of the question for those Reps to relatively quickly sign up an average of 5-10 XM customers. Of course, many Reps won`t sign up any but many will sign up a lot.

Note: Excel powered by VarTec is the 4th largest provider of long distance service in the US. An indication of their size and the success of their business model - their Independent Representatives earn more in commissions in the United States than any other Network Marketing/Multi-level Marketing company, including Amway, Mary Kay, etc.

You can check it out at www.excel.com (or check out my profile for info)

http://moneycentral.msn.com/community/message/board.asp?symb…

[candlebougie]

Nochmal ausführlicher:


Associated Press
XM Satellite Stock Prices Rise
Tuesday June 29, 4:41 pm ET
By Heidi Vogt, AP Business Writer
XM Satellite Radio Stock Rises on Rumors Company Will Beat Rival on Portable Device Production


NEW YORK (AP) -- XM Satellite Radio Holdings Inc.`s shares rose Tuesday after an investment bank suggested the company would beat its major competitor in the race to produce a portable device the size of an MP3 player.
ADVERTISEMENT


J.P. Morgan reported early Tuesday that it believed XM would have a "wearable" satellite radio in stores by Christmas while Sirius Satellite Radio Inc. would not produce a similar radio until mid-2005, based on talks with industry executives.

"XM started ahead of us so they will probably have wearables before we will, but it`s just a matter of time," Sirius spokesman Jim Collins said. "We`re looking at doing something probably next year, not by the end of this year." XM launched its service about a year before Sirius.

Shares of XM closed Tuesday up $1.53, or 6 percent, at $26.95 on Nasdaq. XM stock started rising gradually after June 14, when the company reported that it had reached 2 million subscribers. J.P. Morgan also increased its predicted second-quarter subscriber growth for XM to 405,156 from 344,383 to reflect the growth in early June.

Shares of Sirius, which has 400,000 subscribers, closed Tuesday at $3.08, up 1 cent on Nasdaq after a dip at midday.

Sirius and XM have competed for contracts with carmakers, sports teams and satellite television companies in recent months as they attempt to direct the growth of the nascent satellite radio market. XM signed a deal with NASCAR, while Sirius contracted with the National Football League to broadcast all its games this year. Sirius also has contracts with DaimlerChrysler AG, Ford Motor Co. and BMW Manufacturing Corp. to provide radios for their vehicles. XM has signed on with General Motors Corp. and JetBlue Airways Corp. Both XM and Sirius charge subscribers about $9 to $15 a month.

The companies have yet to tap the wearable market, but there is still plenty of debate about whether a Walkman-like satellite radio will significantly boost subscriptions.

"Right now I don`t have any wearable subscribers built into my model," April Horace, an analyst at Janco Partners Inc., said. "There are a lot of questions. They haven`t done the look and feel, haven`t said how much they will charge. We don`t know if it is going to be a good competitor to the Ipod."

The J.P. Morgan report predicted that if XM`s wearable sales total a tenth of the sales in the first three years of Apple`s Ipod, they could boost XM retail subscriber growth by more than 40 percent by 2006.

An XM spokesman said the company continues to work to enhance its products but does not make announcements about products before they are ready to be formally introduced.

Neither company has posted a profit, but both have steadily increased revenue since 2001. XM lost $584.5 million in 2003 on sales of $91.8 million while the smaller Sirius lost $226.2 million on sales of $12.9 million.

[candlebougie]

Heutige News: positiver SG Cowen Kommentar:

We view XM as an event and news driven stock. We believe the August-December period could provide several catalysts to drive the stock higher. On a fundamental basis, XM is making rapid progress on margins and cash flow. Improvements in variable costs and prepaid accounts should help XM meet guidance for positive cash from ops by 2005.
While valuation does not appear inexpensive, we don`t believe XM is over-valued either.
Catalysts Support Upside: We expect several catalysts to drive XM`s stock from current levels. We believe OEM announcments and holiday sales as well as roll out of new hardware and content in the coming
months should drive subscriber growth and
outperformance.
Strong Operations: We are raising our Q2 est for net adds to 382,000 from 323,800, and raising full year net adds to1.7MM from 1.6MM, bringing yearend
subs to 3.0MM, above guidance of 2.8MM. We
believe in the possibility for outperformance and are raising out year net adds by 10% for each year.

Improving Metrics: XM`s focus on cash flow and
margins is yielding improvements. We believe the growing number of pre-paid multi-year contracts will be a significant cash source. As such, we expect the company to meet guidance of positive cash from ops
by 2005.

[candlebougie]

Heute werden vermutlich Quartalszahlen veröffentlicht!!!!


From Skyreport

July 1, 2004

How Big Was 2Q for XM?

Given that the company has already reported it crossed the 2 million subscriber mark, Wall Street is expecting big things for XM Satellite Radio`s second quarter.

David Kestenbaum of IRG Research raised his second quarter net subscriber addition estimate for XM from 342,000 to 400,000. On a straight-line basis, "XM is on track to add 391,000 subscribers during the quarter. However, we think a strong Father`s Day should help the company meet our 400,000 estimate," the analyst said.

Kestenbaum also increased his third quarter net subscriber estimate for XM to 428,000 from 408,000. He said the company is on track to end the year with 3.08 million subscribers.

Alden Mahabir of Vintage Research also suggested XM could report strong net additions for the quarter based on the 2 million customer milestone the company announced July 14. Mahabir`s original second quarter estimate was 347,000 net additions for XM, yet in a research note released Wednesday the analyst raised that number to 365,000.

XM could report final subscriber numbers for the quarter today, analysts said.

In addition, Mahabir said stronger customer growth shouldn`t take too much off the company`s bottom line. For second quarter, Vintage expects revenue of $54 million and an EPS loss of 88 cents. The EPS loss estimate includes a one-time $35 million charge related to the early retirement of debt. The
consensus EPS loss estimate is 84 cents.

Wall Street also is looking for new product news from XM. J.P. Morgan reported Tuesday that it thinks the company could have a
"wearable" satellite radio in stores by Christmas.

[candlebougie]

PRESS RELEASE!!!!


Press Release Source: XM Satellite Radio


XM Radio Exceeds 2.1 Million Subscribers at End of Second Quarter of 2004
Thursday July 1, 4:05 pm ET
XM Adds More Than 418,000 Net New Subscribers in Q2 `04


WASHINGTON, July 1 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nasdaq: XMSR - News), the nation`s leading provider of satellite radio, today announced that it finished the second quarter of 2004 with more than 2.1 million subscribers. XM added more than 418,000 net new subscribers in the quarter. XM`s subscriber gain during the second quarter of 2004 is more than double the number of subscribers added during the second quarter of 2003, when XM recorded more than 209,000 new subscribers.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
"It was another outstanding quarter for XM," said Hugh Panero, President and CEO of XM Satellite Radio. "We saw significant growth at both retail and automotive dealerships, and we experienced very strong sales for Father`s Day. We have an exciting summer ahead of us, with a wide variety of exclusive programs on tap, and new products such as the much-anticipated Delphi XM Roady2 available at retail stores."

[candlebougie]

Sämtliche Analystenschätzungen wurden pulverisiert - selbst die optimistischten lagen nur bei 400.000 neuen Nutzern!!!!

[candlebougie]

New York, July 01, 2004 -- Moody`s Investors Service assigned a Caa1 rating
to XM Satellite Radio, Inc`s (XM) $200 million of senior secured floating rate
notes due 2009. In addition, Moody`s confirmed the ratings on all of the
remaining debt instruments of the company and changed the outlook to positive.

XM has been making important headway in achieving its key thresholds with
respect to number of subscribers and improved financial performance. The
ratings and positive change in outlook reflect the meaningful growth rate of
XM`s revenues and the anticipated margin improvement associated with the
increase in scale. The ratings remained constrained by the characteristics of a
development stage business including a still material cash burn, particularly
after marketing expense, and the ability to continue to spend aggressively.

Moody`s believes that ratings improvement could occur as the company approaches
operating cash flow break even.

Moody`s announced the following rating actions:
XM Satellite Radio Inc.:
(i) assigned a Caa1 rating to the $200 million of senior secured notes due
2009,
(ii) confirmed the Caa1 rating on the $281.8 million (face value) of 14%
senior secured discount notes due 2009, and
(iii) confirmed the Caa1 rating on $115 million of 12% senior secured notes
due 2010.

XM Satellite Radio Holdings, Inc:
(i) withdrew the Caa3 rating on $58 million of convertible subordinated notes
due 2006,
(ii) withdrew the Ca rating on $31.1 million of 8.25% of convertible
redeemable preferred stock due 2012,
(iii) confirmed the company`s Caa1 senior implied rating, and
(iv) confirmed XM`s Satellite Radio Holdings Caa2 senior unsecured Issuer
rating.

The rating outlook is positive.

Furthermore, XM`s positive outlook and current ratings also incorporate the
improved visibility regarding the execution of the company`s business plan. XM
is likely to have greater than 2.8 million subscribers by year end or
approximately three times as many as it had last year. The company`s business
model continues to be supported by its important relationships with the large
car manufacturers and retailers. Additionally, Moody`s believes that XM
benefits from the demand from several natural markets, such as the trucking,
leisure boating, and rural areas with limited radio offerings as well as the
limited satellite competition due both to the duopoly structure of the market
and a weaker competitor, Sirius.

Also important to the ratings is the company`s meaningful level of liquidity
with $460 million of cash at the end of first quarter 2004 as well as the
potential for a material increase (potentially $150 million+) based on the
resolution of the company`s insurance claim regarding its underperforming
satellites. XM will continue to rely on its cash balances for funding needs but
appears to have sufficient liquidity for the near-to-intermediate term, unless
the company`s marketing strategy were to change precipitously.

Moody`s notes that it continues to be crucial for the company to prudently
manage subscriber acquisitions costs, while attempting to aggressively grow
subscriber levels, particularly given the incentives to report high rates of
subscriber growth (for example, potential equity price improvement). XM is also
challenged by the competition from free, over the air radio and the popularity
of other forms of portable media.

The positive outlook reflects Moody`s expectation that over the near term,
Moody`s is likely to raise the company`s senior implied if certain metrics
continue on track, including: a meaningful cash balance to support growth
(potentially bolstered by the insurance claim proceeds), closing the gap on
operating cash flow break even, the ability to add subscribers as projected,
and successful replacement of the impaired satellites.

The company`s debt leverage and cash flow coverage statistics are still
somewhat immaterial, as the company`s operating cash flow remains negative.

Moody`s expects operating cash flow to approach breakeven over the next 12 to
18 months as the company attempts to achieve critical mass.

The Caa1 rating on the secured notes is driven by the company`s senior
implied rating as it constitutes the entirety of the debt capital structure and
has the benefit of subsidiary guarantees. Moody`s notes that given their highly
specialized purpose, the company`s assets: the satellite and technical
infrastructure would be of little value in a distressed scenario.

XM Satellite Radio, Inc. is a development stage company founded to
commercialize satellite audio services in the US. It is headquartered in
Washington, D.C.

[candlebougie]

Gerüchte......


XM in neuen TOYOTAs : http://www.toyota.com/vehicles/2005/camry/accessories.html

Diese findet sich auch in der neuesten Skywaves-Flash-Email - und außerdem diese INFO:

XM gets NCAA - College-Sport!!!

[candlebougie]

Press Release Source: XM Satellite Radio


Porsche to Offer Factory-Installed XM Radio on Three Porsche Models
Tuesday July 13, 9:00 am ET


WASHINGTON, July 13 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nasdaq: XMSR - News), the nation`s leading provider of satellite radio with more than 2.1 million subscribers, today announced that Porsche, one of the world`s premier automobile manufacturers, will offer XM Radio as a factory-installed feature on three Porsche models for the 2005 model year.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
XM will be available on the 2005 Porsche Cayenne, Porsche Cayenne S, and Porsche Cayenne Turbo models. Porsche vehicles with XM Radio will come with a three-month trial subscription to the XM service, which offers more than 120 channels of commercial-free music and news, sports, talk, and entertainment programming in crystal-clear sound from coast to coast.

"We are very pleased that a renowned automaker such as Porsche will offer XM Radio beginning this fall," said Hugh Panero, President and CEO of XM Satellite Radio. "XM`s availability as a factory-installed feature on Porsche vehicles is further proof of XM`s fast-growing popularity."

Customers can now place orders for the 2005 Porsche models equipped with XM Radio at Porsche dealers across the continental U.S.

[candlebougie]

Hey, die von mir verbreiteten Gerüchte waren wahr!!!

Press Release Source: XM Satellite Radio


XM Satellite Radio to Broadcast Atlantic Coast Conference and Pacific-10 Conference Collegiate Football and Basketball Games
Wednesday July 14, 8:03 am ET


WASHINGTON, July 14 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nasdaq: XMSR - News), America`s leading provider of satellite radio with over 2.1 million subscribers, today announced that it will broadcast Atlantic Coast Conference (ACC) and Pacific-10 Conference (Pac-10) collegiate football and men`s and women`s basketball games to listeners across the country starting this fall.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
As the official satellite radio partner of the Pac-10 and ACC, XM Radio will carry the football and basketball games as part of its basic channel line-up. Terms of the deal were not disclosed. XM offers more than 120 digital radio channels of commercial-free music and premier sports, news, and talk radio for a monthly subscription fee of $9.99.

"XM cannot be more excited to have the marquee conference match-ups of the ACC and Pac-10, which represent more than 400 sporting events. These conferences showcase some of the best players, coaches, and fans in college sports. Each has an extraordinary history of athletic achievement, as well as enormous fan and alumni support," said Hugh Panero, President and CEO of XM Satellite Radio.

"One of our goals is to reach the expanding audience of ACC fans with a growing number of media platforms," said ACC Commissioner John Swofford. "With XM Radio being the nation`s leading satellite radio provider, it is an ideal partner to deliver ACC football and men`s and women`s basketball games to our fans from coast to coast. We`re very excited that the millions of people who subscribe to XM Radio will soon be able to tune into ACC action no matter where they reside within the United States."

"The Pac-10 is committed to upholding a tradition of excellence that dates back nearly 100 years, and XM Radio has demonstrated the kind of commitment it takes to be the nation`s number one satellite radio provider," said Thomas C. Hansen, Pac-10 Commissioner. "We`re thrilled that our fans will be able to tune into our conference games on XM Radio from coast to coast. This is an important and innovative partnership for the Pac-10, and we know that our fans throughout the country are going to love hearing Pac-10 games on XM."

[candlebougie]

Press Release Source: XM Satellite Radio


Delphi XM Roady2 Satellite Radio Now Available at Retail Stores Nationwide
Tuesday July 20, 8:02 am ET
Delphi XM Roady2 is the Smallest, Lightest and One of the Most Affordable Satellite Radios on the Market


WASHINGTON and TROY, Mich., July 20 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nasdaq: XMSR - News), America`s No. 1 satellite radio service, and Delphi Corp. (NYSE: DPH - News), a pioneer of in-vehicle entertainment and electronics, today announced that the much-anticipated Delphi XM Roady2 satellite radio is now available at retail stores nationwide.
(Photo: http://www.newscom.com/cgi-bin/prnh/20040720/DCTU011 Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
The compact Roady2 (MSRP $129.99) is on average four times smaller than competing plug-and-play models on the market, and features the smallest satellite radio antenna available. The unit has a built-in wireless FM adaptor for easy connection to any vehicle in minutes. Additionally, Roady2 is the industry`s first satellite radio receiver capable of displaying up to 20 customized stock quotes simultaneous with XM`s 120 digital radio channels of commercial-free music and premier news, sports, and talk radio.

"The Delphi XM relationship has brought another breakthrough product to market," said Joseph Damato, director, consumer electronics, Delphi Product & Service Solutions. "Roady2 sets a new standard for small size and functionality -- making it the clear choice for consumers who want all the benefits of satellite radio without the bulk and complexity found in competitive designs."

The Roady2 is earning rave reviews from leading technology critics. The influential PC Magazine gives the Roady2 five stars, calling the unit a "brilliant device" and naming it an "Editor`s Choice." The magazine praises the Roady2 for offering a tiny unit that boasts a wide variety of features, saying, "when small size matters most, the clear advantage lies with XM and the Delphi Roady2." In a separate review, Rolling Stone magazine lauds the Roady2 for its compact size, easy plug-and-play installation, and stock-quotes feature.

"The Roady2 is a fantastic device that not only gives you all of the music, news, sports, and talk radio that XM is known for, but for the first time, you can pick and choose stock quotes to be displayed on the screen while you listen to XM from coast to coast. When you consider how compact this device is and how many features it offers, it`s clear that Roady2 is a must- have product," said Brian Shea, XM Vice President of Product Marketing and Distribution.

In addition to existing accessories, new home kits and portable audio systems for the Roady family of products will be available at retailers nationwide this fall.

Delphi also manufactures the critically acclaimed Delphi XM SKYFi receiver, the best-selling portable satellite radio in the industry, and the new Delphi CD Audio System, the industry`s first system to offer XM Satellite Radio along with a CD/CDR/MP3 player and AM/FM tuner.

[candlebougie]

30-Jul-04 Banc of America Sec Initiated Buy
27-Jul-04 William Blair Initiated Outperform
30-Jun-04 Stifel Nicolaus Upgrade Market Perform Outperform/Buy
29-Jun-04 Fulcrum Initiated Buy
24-Jun-04 Legg Mason Initiated Buy
18-Jun-04 Barrington Research Initiated Outperform
16-Jun-04 Wachovia Initiated Mkt Perform
7-Jun-04 JP Morgan Initiated Overweight

[candlebougie]

Press Release Source: XM Satellite Radio


Acclaimed Public Radio Newsman Bob Edwards Joins XM Satellite Radio to Host Morning Show Exclusively on XM
Thursday July 29, 11:18 am ET
`The Bob Edwards Show` to Be Signature Program on New XM Public Radio Channel


WASHINGTON, July 29 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nasdaq: XMSR - News), the nation`s leading provider of satellite radio with more than 2.1 million subscribers, has signed Bob Edwards, the award-winning public radio newsman, to host a new morning interview program, "The Bob Edwards Show," exclusively on XM.
(Photo: http://www.newscom.com/cgi-bin/prnh/20040729/DCTH039-a http://www.newscom.com/cgi-bin/prnh/20040729/DCTH039-b
Logo: http://www.newscom.com/cgi-bin/prnh/20040729/DCTH039-c )

Edwards hosted National Public Radio`s "Morning Edition" for 25 years, attracting more than 13 million listeners weekly. In 1999, he and the show received a prestigious Peabody Award for excellence in broadcasting. Edwards also received the Edward R. Murrow Award from the Corporation of Public Broadcasting for outstanding contributions to public radio. He is the author of Fridays with Red, which chronicled his radio friendship with legendary sportscaster Red Barber, and the recently published Edward R. Murrow and the Birth of Broadcast Journalism.

"XM is the most exciting thing happening in radio," Edwards said. "I think XM is reviving and reinventing radio. It`s something entirely new, and at the same time it brings radio back to its past glory. Thirty years is a long time to bond with a particular audience, an audience I love. I hope a great many of my listeners will be interested in this new show on XM. It`s a chance to visit with interesting people for longer than a sound bite. I see an enormous respect for radio among people at XM, and I am excited about creating the same radio magic on XM that I have been part of throughout my career."

Hugh Panero, XM Satellite Radio President & CEO, said, "I`ve always been a fan of Bob Edwards. He`s an amazing talent who has been the preeminent voice of public radio for decades. Some have described Bob as a warm cup of coffee that helps you start your day. We are thrilled to be serving up to our millions of subscribers his unique, intelligent style of journalism."

"The Bob Edwards Show" will feature in-depth interviews with newsmakers, journalists, entertainers, and other compelling people weekdays on XM Radio. Mark Schramm, who will serve as the show`s Executive Producer, is a 20-year veteran of public radio whose roles included Senior Producer positions on "Morning Edition" and "Weekend Edition Sunday," as well as Director of NPR Sports. The show will broadcast from the XM studios in Washington, D.C.

"The Bob Edwards Show" will be the centerpiece of XM Public Radio, a new 24-hour channel (XM Channel 133) that will feature popular public radio programming from Public Radio International (PRI), American Public Media, the national production and distribution arm of Minnesota Public Radio and Southern California Public Radio, and WBUR, the Boston public radio station. XM Public Radio will debut on September 1. "The Bob Edwards Show" will premiere October 4.

[candlebougie]

Press Release Source: XM Satellite Radio


XM Satellite Radio to Launch New Public Radio Channel
Thursday July 29, 11:20 am ET


WASHINGTON, July 29 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nasdaq: XMSR - News), the nation`s leading provider of satellite radio with more than 2.1 million subscribers, will launch a new channel, XM Public Radio (XM Channel 133), featuring programs from Public Radio International (PRI) and its satellite radio subsidiary American Public Radio; American Public Media, the national production and distribution branch of Minnesota Public Radio; and Boston public radio station WBUR. The new channel is scheduled to debut on September 1.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040729/DCTH039-c )
"We are thrilled to announce the launch of XM Public Radio," said XM Satellite Radio President and CEO Hugh Panero, "and it is an honor to carve out this completely new space in the broadcasting arena with such esteemed public radio programming partners as American Public Media, WBUR and Public Radio International. We look forward to working with these partners to ensure that the quality programming they produce reaches the broadest audience possible."

XM Public Radio will feature a host of critically-acclaimed public radio programs, including This American Life, Michael Feldman`s Whad`Ya Know?, Garrison Keillor`s The Writer`s Almanac, Speaking of Faith, On Point, and Only a Game, among others. In addition, award-winning public radio newsman Bob Edwards has signed on to host a new morning interview program, The Bob Edwards Show, exclusive to XM Satellite Radio, which is scheduled to debut on October 4.

Detailed information about XM Public Radio, including a programming line- up and show descriptions, is available on http://www.xmradio.com/publicradio.

[candlebougie]

Why XM Satellite Will Stay Ahead Of Sirius
07.30.04, 1:00 PM ET



Banc of America initiated coverage of XM Satellite Radio (nasdaq: XMSR - news - people ) at "buy" with a $32 target price, forecasting that the company will reach 18 million subscribers by 2010. Banc of America said that XM enjoys "sustainable competitive advantages" over rival Sirius Satellite Radio (nasdaq: SIRI - news - people ), which it initiated at "neutral" with a $2.84 target price. Among XM`s advantages, the research firm cited a three-month trial subscription program in partnership with General Motors (nyse: GM - news - people ) and Honda Motor (nyse: HMC - news - people ) and a prime-mover advantage in technology. Banc of America noted that Sirius is currently selling only through a dealer-installed option, but mentioned that the company has factory-installation agreements with Daimler-Chrysler (nyse: DCX - news - people ) and Ford Motor (nyse: F - news - people ) that will come into effect in model year 2005. Banc of America expects factory install programs to be "the largest driver of product penetration over the next 10 years." The firm said, "Currently, XM has 80% of the satellite radio market. While we expect XM`s market share to decrease over the next five to six years, we believe that the company will maintain its market-share lead over its competitor, Sirius. We are forecasting a market share of 70% by 2006 and 67% by 2010." The research house also mentioned that XM has an attractive product line-up, aiming to cater to consumers "in the car, at home and on-the-go, and said the company could release a Walkman-like device by the holiday season, which "should be a near-term catalyst for subscriber growth." Elsewhere in the radio and television broadcasting sector, Banc of America`s top picks are Clear Channel Communications (nyse: CCU - news - people ) and Radio One (nasdaq: ROIA - news - people ), both rated at "buy" with respective target prices of $51 and $23.

[candlebougie]

[candlebougie]

SIRI Retail Market Share Erosion

From Stifel

XMSR`s marketshare relative to SIRI increased again in June:
According to our analysis of proprietary data we purchase from the
NPD consulting group, the retail market share for June of XMSR and
SIRI was 61%/39%. XMSR gained another 100 basis points in June,
on top of a 4% increase in May (60/40) and no change in April
(56/44). Prior to April, SIRI had consistently been gaining market
share by about 200 basis points per month. In 2004, we estimate that
SIRI will derive about 80% of its subscriber base from retail, versus
50/50 retail/OEM for XMSR. The NPD data includes retail sales of
virtually all major electronics retailers except Wal-Mart, which we
believe is the third largest satellite radio retailer after Best Buy and
Circuit City. In the past we have always noted that since the data
excludes Wal-Mart, which by far sells more XM than SIRI, and
measures sales rather than activations (XM’s sales to activation ratio
is higher than SIRI), the market shares are inflated for SIRI.
Nevertheless, we believe the trend of the market share where SIRI
and XM are offered on relatively equal basis is an important
directional indicator of what the long-term market shares may
ultimately be.
Not an action call today, but an incremental positive for
XMSR/negative for SIRI: Given that XMSR and SIRI have already
announced their 2Q subscriber numbers, there is no action call on this
data today. As we stated in our recent upgrade of XMSR and
downgrade of SIRI, we have been surprised at how strong XMSR’s
retail share has been considering that SIRI`s content is arguably better
due to premium sports. We credit the slip for SIRI on a reduction in
advertising and incentives. We continue to recommend shares of
XMSR given the pull back in the stock price, continued strong
management execution, prospects of positive news flow including
new products, and our bullish long-term outlook for the industry
(25MM subscriber by 2010). We recently downgraded SIRI and
were later disappointed with subscriber acquisition costs when SIRI
reported its quarter. That said, SIRI is now down nearly 20% and a
buying opportunity could arise upon further weakness or on evidence
that RadioShack will be a major contributor for SIRI. On a positive
note for SIRI, we think its enterprise value will be buoyed by XMSR.
Currently, we estimate the split in enterprise values for the two
companies to be about 71%/29% XMSR / SIRI, which is probably a
little too low for SIRI.

[candlebougie]

SkyWaves flash email: Partnership announcements "soon"

Taken from a SkyWaves subscriber, I am no longer active with them:

"look for an announcement soon of major new strategic
partners for XM. We reiterate that prediction and can now
advise you that the new initiative will contribute to the
company’s revenue stream and significantly raise XM`s mass
market exposure to new customers."

"would not be surprised to see XM increase its year-end subscriber guidance."

[candlebougie]

heutiger JPMorgan-Kommentar:


We rate XMSR Overweight. The stock is trading at $1,345 per 2005E subscribers,
near rival Sirius Satellite`s $1,349 multiple, and also near the closest
comparable industry, direct broadcast satellite TV, where DirecTV and Echostar
trade close to $1,300 per 2005E subscribers. We see very strong long-term
growth prospects for the satellite radio industry, with a proprietary JPMorgan
survey showing a 40% household penetration opportunity, up from 2% currently.
We believe that XM can maintain current multiples, with stock appreciation
driven by substantial subscriber growth. We also believe that XM stock will
outperform Sirius, which we rate Neutral, due to faster subscriber growth, an
earlier turn to free cash flow profits, stronger relationships with
automakers, and a lead in developing new integrated wearable devices.

[candlebougie]

http://www.radioandrecords.com/Newsroom/2004_08_02/hugegrowt…
Huge Growth Predicted For Satellite Radio
Media-focused merchant bank Veronis Suhler Stevenson predicts in its annual Communications Industry Forecast that combined subscription and advertising revenue for both XM and Sirius will increase at a compound rate of 85% between 2003-2008, and will reach $2.1 billion by the end of 2008. Breaking down advertising and subscription revenue separately, VSS predicts ad spending on satellite radio will increase at an 88% compound rate between 2003-2008. The company also expects subscription revenue to increase at an 84.9% compound rate during the same time frame. However, VSS notes both satellite radio companies must work hard in order to compete with digital radio and online music services. "The key to long-term growth will be diligent work by satellite companies to stay ahead of the curve with partnerships, new services, and creative ad packaging," the report says.

[candlebougie]

Press Release Source: XM Satellite Radio, Inc.; Starbucks Coffee Company


XM Satellite Radio and Starbucks Enter Into Strategic Marketing Alliance
Tuesday August 3, 9:02 am ET
`Starbucks Hear Music(R)` Channel will Launch this Fall on XM Radio


SEATTLE and WASHINGTON, Aug. 3 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nasdaq: XMSR - News), the nation`s leading satellite radio provider, and the Starbucks Coffee Company (Nasdaq: SBUX - News) have entered into an exclusive, multi- year strategic marketing alliance.
As part of the agreement, the "Starbucks Hear Music" channel, featuring music programming from Hear Music, the voice of music at Starbucks, will debut this fall for XM Radio`s more than 2.1 million subscribers. Beginning in 2005, millions of Starbucks customers will be able to listen to the "Starbucks Hear Music" channel programming and be exposed to XM in more than 4,000 Starbucks locations nationwide.

According to Hugh Panero, President and CEO, XM Satellite Radio, "XM`s presence at Starbucks locations will greatly accelerate awareness of our popular satellite radio service. This is an exciting marketing alliance matching Starbucks, one of the world`s best known and respected brands with a huge and loyal customer base, with XM Radio, one of the hottest entertainment products to launch in the last 20 years. The Starbucks customer and the XM customer share similar lifestyles and music passions, and it is only natural that they share a latte and listen to music together."

"XM Radio shares our passion for music, which has always been an integral part of the Starbucks music and entertainment experience," said Howard Schultz, Starbucks chairman. "Through the XM `Starbucks Hear Music` channel, we will continue to build recognition of the Hear Music brand, which is an important building block in growing and extending the music experience at Starbucks."

"We are thrilled to be working with XM as we both strive to bring innovation to the music industry in bold and unique ways," said Ken Lombard, president, Starbucks Entertainment. "Through the `Starbucks Hear Music` channel on XM, people will be able to take the Starbucks music experience with them wherever they go, and millions of loyal Starbucks customers will be exposed to XM in our stores nationwide."

Earlier this year, Starbucks opened the first Hear Music Coffeehouse in Santa Monica, California, giving customers the opportunity to create personalized CDs in about the time it takes to order a latte. Later this fall, Starbucks also plans to roll-out a CD burning service to select Starbucks Company-operated locations.



http://biz.yahoo.com/prnews/040803/dctu030_1.html

[candlebougie]

Press Release Source: XM Satellite Radio; Audiovox Electronics Corporation


XM Satellite Radio and Audiovox Introduce the XR9, the Newest Plug-and-Play Satellite Radio
Wednesday August 4, 9:11 am ET


WASHINGTON and HAUPPAUGE, N.Y., Aug. 4 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nasdaq: XMSR - News), the nation`s leading satellite radio company with more than 2.1 million subscribers, and Audiovox Electronics Corporation, a leading provider of automotive and home audio entertainment, today announced a new satellite radio partnership with the introduction of the Audiovox XR9, the newest plug-and-play satellite radio.
(Photo: http://www.newscom.com/cgi-bin/prnh/20040804/DCW005 )
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
The XR9 (expected MSRP: $99.99) is the latest Audiovox product for listening to XM Radio and the first plug-and-play Audiovox unit for XM. The XR9 is targeted for the holiday season and expected to ship to retail stores in October.

The sleek, compact XR9 unit is the smallest satellite radio offered by Audiovox, and it has a fit and finish sure to appeal to a wide audience. Features include a large blue backlit LCD display, peripherally located controls and a very low profile. The XR9 has a built-in wireless FM modulator that allows you to listen to XM on any FM radio. The unit can display up to 20 customizable stock quotes. The receiver comes packed with a remote control as a standard accessory.

The XR9 moves easily from the vehicle to the home or office. You can plug the unit in your vehicle with an Audiovox car stereo kit ($69.99 MSRP), and you can listen on your stereo with an Audiovox home kit ($69.99). Audiovox plans to offer additional accessories for the XR9, including a portable boombox, in the months ahead.

"The XR9 is a terrific product that takes advantage of some of XM`s newest technologies, including the built-in FM modulator and customized stock quotes," said Daniel Murphy, Senior Vice President of Product Marketing and Distribution for XM Satellite Radio. "We think the design and functionality of the XR9 will be appealing to consumers as we prepare for a very busy holiday season."

"Audiovox has been one of the early product suppliers of XM Satellite Radio and we are excited about the prospects of our new XR9 and growing partnership with XM," said Pat Lavelle, CEO of Audiovox Electronics.

[candlebougie]

Q2 2004 XM Satellite Radio Earnings Conference Call
Thursday, August 5, 2004 10:00 a.m. ET

Webcast Presentation
Click here for webcast
http://phx.corporate-ir.net/phoenix.zhtml?c=115922&p=IROL-Gu…

[candlebougie]

XM Satellite Radio Holdings Inc. Announces Second Quarter 2004 Results

XM Adds 418,449 Subs In Quarter

XM Increases Year-End 2004 Subscriber Guidance to 3.1 Million

XM Adds College Sports, Public Radio Newsman Bob Edwards and Other New Content

XM and Starbucks Announce Exclusive, Multi-Year Strategic Marketing Alliance

WASHINGTON, Aug. 5 /PRNewswire-FirstCall/ -- XM Satellite Radio Holdings Inc. (Nasdaq: XMSR) today reported strong financial and operating results for the second quarter ended June 30, 2004. As of June 30, 2004, XM Radio reported 2,100,352 subscribers. This represented net subscriber additions of 418,449 for the quarter, more than double net subscriber additions of 209,178 subscribers in second quarter 2003. As a result of this significant subscriber growth, and an improving outlook for both the retail aftermarket and new car business in the second half of the year, XM is increasing year-end 2004 subscriber guidance from 2.8 million subscribers to 3.1 million subscribers.

(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )

"We are thrilled by our subscriber growth in both the new car and retail markets during the first half of this year," said Hugh Panero, XM CEO and President. "With our programming, marketing and new product initiatives, we feel confident increasing our year-end 2004 subscriber guidance to 3.1 million," he added.

Quarterly Revenue Accelerates

For second quarter 2004, XM reported record quarterly revenue of $53.0 million, nearly tripling the $18.3 million reported in the second quarter 2003. Revenue for the second quarter 2004 also represented a 23 percent increase compared to revenue of $43.0 million reported in the first quarter 2004.

XM reported an EBITDA loss of ($107.8) million for the second quarter 2004, compared to ($95.8) million for the second quarter 2003. These EBITDA figures include de-leveraging charges in the second quarters 2004 and 2003 of ($35.0) and ($19.4) million, respectively. XM`s net loss for the second quarter 2004 was ($166.1) million as compared to ($161.9) million in the second quarter 2003.

Continued Reduction in the Cost to Acquire Each New Subscriber

The second quarter 2004 Cost Per Gross Addition (CPGA) was $101, an improvement of $59, or 37 percent, compared to the $160 CPGA reported in the second quarter 2003. XM`s CPGA represents the fully-loaded cost to acquire each new subscriber, including Subscriber Acquisition Costs (SAC) of $57, as well as advertising and marketing expenses.

Satellite Insurance Settlement

In July, XM reached settlements with insurers covering 80 percent of the sum insured under its satellite insurance policies. These insurers have agreed to settle XM`s claims for $142 million in aggregate, most of which should be collected by the end of August. XM will initiate third party resolution procedures for collecting the remaining 20 percent of the sum insured. Further details about XM`s insurance settlement can be found in the Company`s 8-K filed earlier today.

Improved Liquidity and Cost of Capital

In April, XM completed a Floating Rate Note Offering generating $195 million in net proceeds. This new financing replaces more expensive debt on XM`s balance sheet, including $71 million of General Motors Revolving Credit Facility and $50 million of the 12% Senior Notes. XM also pre-paid the $35 million Boeing note.

The Company also received approximately $32 million in cash proceeds in connection with GM`s exercise of a warrant to purchase 10 million shares of XM Class A Common Stock, the cash from which was used to retire additional 12% Senior Notes and 14% Senior Secured Discount Notes.

At the end of the second quarter 2004, XM had total cash and short-term investments of $377 million and capacity under the Revolving Credit and Equity Facilities from GM of $126 million. The total liquidity position of XM as of June 30, 2004 was $503 million, excluding the July satellite insurance settlements.

XM Adds College Sports, Public Radio Newsman Bob Edwards and Other Compelling Content

Beginning this fall, XM will broadcast Atlantic Coast Conference and Pacific-10 Conference college football and men`s and women`s basketball. In addition, XM recently signed Bob Edwards, the award-winning public radio newsman, to host a new morning interview program, "The Bob Edwards Show", exclusively on XM`s new channel, XM Public Radio (XMPR). Bob hosted National Public Radio`s "Morning Edition" for 25 years, attracting more than 13 million listeners weekly. XMPR will also showcase outstanding programming produced by Public Radio International, Minnesota Public Radio and Boston public radio station WBUR. XMPR will debut September 1st. "The Bob Edwards Show" will premiere October 4th. XM also added two new Spanish language music channels and five new Instant Traffic & Weather channels. XM`s lineup now features the best in Latin hits, regional Mexican and Tejano music, tropical sounds and Latin jazz as well as 21 dedicated and continuously updated XM Traffic & Weather channels, including the five new channels dedicated to Minneapolis/St. Paul, Seattle, San Diego, Atlanta and Miami/Ft. Lauderdale.

XM`s updated channel lineup is available on XM`s website -- http://www.xmradio.com .

XM and Starbucks Announce Marketing Alliance

XM Radio and The Starbucks Coffee Company recently entered into an exclusive, multi-year strategic marketing alliance. As part of the agreement, the "Starbucks Hear Music" channel, featuring music programming from Hear Music, the voice of music at Starbucks, will debut this fall for XM Radio`s more than 2.1 million subscribers. Beginning in 2005, millions of Starbucks customers will be able to listen to the "Starbucks Hear Music" channel programming and be exposed to XM in more than 4,000 Starbucks locations nationwide. This marketing alliance will match Starbucks, one of the world`s best known and respected brands with a huge and loyal customer base, with XM Radio, one of the hottest entertainment products to launch in the last 20 years.

New XM Plug-and-Play Radios Introduced

XM introduced the Delphi XM Roady2, and announced a new plug-and-play satellite radio receiver from Audiovox, the XR9. The Roady2 is significantly smaller than the competition`s plug-and-play models, enables the listener to display up to 20 stock quotes and includes a wireless FM adapter for easy connection to any car or home radio. The Audiovox XR9 is scheduled to arrive at retail stores in October in time for the holiday season and includes a built-in wireless FM modulator, can display personalized stock quotes and comes with a remote control.

Expanded New Car Distribution

GM and Honda led the way in the new car market. In fact, during the second quarter, more than 50 percent of XM`s new subscribers came from the OEM market. For the 2005 model year, XM will be offered on over 100 vehicle models with more than 75 of those being factory-installed. Toyota recently expanded its XM Radio dealer-installed program for 2005 to include the Toyota Camry and Land Cruiser, the Scion tC and the Lexus ES330 and the LX470. XM also added Porsche to its list of new car distribution partners and, beginning this summer, XM will be available on all version of the 2005 Porsche Cayenne.

XM Full-Year 2004 Guidance Update

XM updated guidance has ending 2004 subscribers of 3.1 million, subscriber revenue of $220 million and an EBITDA loss, excluding de-leveraging charges, of ($300) million.

[candlebougie]

Press Release Source: XM Satellite Radio


Talk Radio Stars Opie and Anthony to Join XM Satellite Radio
Thursday August 5, 9:01 am ET
`O & A` to Hold Press Conference Today at 12:00 Noon ET at Hard Rock Cafe in New York City


WASHINGTON, Aug. 5 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nasdaq: XMSR - News), the nation`s leading provider of satellite radio with more than 2.1 million subscribers, today announced that talk radio personalities Opie and Anthony will make their long-anticipated return to radio on XM Satellite Radio.
(Photo: http://www.newscom.com/cgi-bin/prnh/20040805/DCTH011-a ) http://www.newscom.com/cgi-bin/prnh/20040805/DCTH011-b )
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
Opie and Anthony will premiere a live, weekday program on XM on October 4. The show will be carried exclusively on a new premium XM channel.

"We learned a lot during our two years away from our fans, and we can`t wait to get back on the radio and reconnect with them," said Greg "Opie" Hughes. "This is a huge milestone for us because XM provides a nationwide audience that local radio simply can`t match." Anthony Cumia added, "XM is the future of radio as we know it, and it is the perfect platform for us to entertain our radio fans, in the same way that HBO provided more creative freedom for people in TV."

Opie and Anthony are among the most popular and controversial duos in radio. Their irreverent wit made their afternoon radio show number one among male listeners between the ages of 18 and 49 in New York City, Philadelphia, Boston, Dallas, Cleveland, and Buffalo, according to Arbitron. O & A have not been on the air since August 2002, and their large fan base has been waiting patiently for their return. The new show on XM will serve up their offbeat humor that has drawn millions of listeners and made them loyal fans.

"XM has been called `the HBO of satellite radio,` and like HBO, we can provide O & A fans with a unique way to enjoy their edgy humor," said Hugh Panero, President & CEO of XM Satellite Radio. "The O & A show is the latest example of the incredible range of programming available on XM."

The Opie and Anthony show is the newest addition to XM`s critically acclaimed programming line-up, which offers digital radio channels devoted to everything from classical music to hip hop, college and professional sports to audio books, financial news to stand-up comedy.

XM`s 120-plus channels are available from coast to coast for a basic monthly fee of $9.99. XM will carry Opie and Anthony on a premium channel (XM Channel 202) for an additional monthly fee of $1.99. Mehr Einnahmen!!!!!! XM subscribers can pre- order the new channel starting today by calling XM at 1-800-XM-RADIO (1-800-967-2346) or visiting XM online at http://www.xmradio.com.

MEDIA ADVISORY: Opie and Anthony will hold a press conference today at 12 noon ET at the Hard Rock Cafe in New York City at 221 West 57th Street.

[candlebougie]

Conference Call Summary:

von Yahoo-Board (frontmed)

Overview

- SACs/CPGA down Y/Y and Q/Q
- Churn down to 1.1%
- Interest expense down
- Insurance claim settled
- 70% retail market share vs. 71% for Q1
- > 50% of subscribers from OEM market
- 100 models F.I. for MY`05
- Toyota expanded MY`05 Dealer Install Program
- ACC & PAC-10 football/basketball beginning in the fall
- Bob Edwards Show to begin October 1
- XM Public Radio to debut September 1
- O&A in October on premium channel for add`l fee
- AV XR9 available in October
- Addl new products to rollout in coming months
- Guidance increased to 3.1M by year end

- 81% are self-paying (non-prepaid/oem), will grow to 85-90% by YE `04
- Full year `04 CPGA to be better than projected
- EBITDA loss of 108M vs. 96M for Q2`03.

- PAYING GM $20M IN CASH TO ELIMINATE FURTHER DILUTION!!!
- Operating cash burn down to $26M. Cash on hand $376M

Questions

- Churn on selfpay subs 1.1%
- Total disconnects 2.5%. Unbelievable.
- ARPU will continue to rise.
- Fully funded, FCF positive FH`05.
- Eliminated 1M shares dilution by paying GM note in cash.
- No news on wearable; will announce only when it is ready.
- Revenue share is at a "sustainable" level. This is big.
- XM3 launch late `04 or early `05.
- Honda FI`s 400K in MY`05.
- O&A premium channel will be 4 hour show repeated in several segments for AM/PM drive time.
- SACs will continue to drop; gains will be used to increase marketing.
- Revenue forecast may be a little conservative for `04.
- Churn cannot get better.
- OEM conversion rate has increased by 50%, and they expect it to continue increasing.
- ARPU should turn higher at beginning of `05.
- Toyota still in process of evaluating strategy for SDARS; all are eventually moving toward FI`s.

[candlebougie]

XM Satellite Radio "outperform"
NEW YORK, August 11 (New Ratings) – Analyst James Goss of Barrington Research maintains his "outperform" rating on XM Satellite Radio (XMSR.NAS).

In a research note published yesterday, the analyst mentions that the company reported its 2Q04 EPS results ahead of the estimates and the consensus. The company’s subscriber count increased significantly during the quarter, the analyst says. XM Satellite Radio recently announced an insurance settlement that covers almost 80% of the risks associated with the degradation of two of the company’s satellites, Barrington Research adds.

[candlebougie]

Press Release Source: XM Satellite Radio


Eric Logan to Join XM Satellite Radio as Executive Vice President, Programming
Tuesday August 10, 9:00 am ET


WASHINGTON, Aug. 10 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nasdaq: XMSR - News), the nation`s leading provider of satellite radio with more than 2.1 million subscribers, today announced that Eric Logan, former President of Programming at Citadel Broadcasting, will be joining XM as Executive Vice President of Programming.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
Logan, a 19-year radio industry veteran, has held senior executive positions at Citadel and Infinity Broadcasting, and received numerous programming awards over his career in radio. Prior to his position at Citadel, he was Vice President of Programming at Infinity, and he served as Vice President, Operations at award-winning country radio station WUSN-FM in Chicago.

"We`re very pleased that Eric Logan is joining XM. Eric brings experience in markets large and small, and at the corporate and the local station level. We`re thrilled to have him on board," said Hugh Panero, President & CEO of XM Satellite Radio. "In the past, Eric has spent a great deal of time on the road visiting local stations, market by market. Now, whenever he wants to visit one of XM`s 120-plus nationwide channels, all he has to do is walk down the hall."

[candlebougie]

Gute Werbung zur Prime-Time bei NBC

[candlebougie]

J.P.Morgan


We hosted executives of OW-rated XMSR, including CFO Joseph Eutenauer, in a
series of investor meetings Wednesday in New York.


* Overall, the tone was very positive, with product sales reportedly rolling
in above forecast, suggesting, we believe, that XMSR`s 3.1m year-end sub
guidance is conservative.
* Chipset driven product improvements look promsing, we believe. A wearable
satellite radio/MP3 device based on the current Gen3 chipset is likely either
by X-Mas or early 2005. Gen4 chipsets (due out 1Q05) should allow embedding of
XM service in cellphones and other devices by early 2006, potentially
expanding the retail market.
* The SAC reductions from the Gen4 chip set look notable, with hardware
subsidies (now under $20/unit) likely to drop to virtually nothing. Reverse
payments from cell phone and other CE device makers are possible (though by no
means certain) if the vendors see XMSR as a differentiator.
* XMSR seems confident of maintaining share even after Sirius` NFL exclusive
intro this fall, with smaller product size helping drive share at retail. New
content (Opie & Anthony, Bob Edwards, college football) and mktg deals
(JetBlue, AirTran, Starbucks) should also help counter the NFL splash. A
guerilla kiosk effort may counter the Sirius/Radioshack deal.
* We retain our OW-rating. Near-term concerns seem to be fading, with churn
trending down, sales strong, and SAC declining. Long-term, we continue to see
XM as the leader in a high -growth market with a 40% penetration opportunity,
based on a proprietary JPM survey.


Near-Term Trends Look Positive
XMSR executives see radio sales in both OEM and retail channels coming in
above even the most optimistic internal forecasts, prompting a something of a
scramble to deliver product. The company is ordering more manufacturing runs
for the original SkyFi radio, even though SkyFi 2 is due out imminently.
XM on its 2Q04 earnings call raised year-end sub guidance to 3.1m, from 2.8m,
but based on these comments the 3.1m figure, in our opinion, looks
conservative.
Otherwise, XM maintains guidance for free cash flow profits in 1H05 (we are
modeling -positive in 1Q05, negative in 2Q05, and positive thereafter). Churn
should continue to ease over the balance of the year. And the company also
maintains recent guidance for CPGA in CY04 below $110 per gross addition. That
leaves a big question mark, since CPGA was $106 in 1Q04 and $101 in 2Q04.
Could CPGA go up in 2H04? The company isn`t being specific, but the key swing
factor appears to be spending on advertising and marketing in 2H04 to counter
Sirius` planned NFL splash. SAC per gross add looks likely to decline as more
product ships with the lower cost Gen3 chipset.
We believe that CPGA can actually decline sequentially in 3Q04 and 4Q04, as
sub growth ramps up at a faster rate than advertising, while SAC falls.



Wearable Roadmap/SAC Scenario
A wearable satellite radio/MP3 player looks likely either by Christmas or
early 2005, based on the new Gen3 chip set. At this point, XM has engineered
the battery so it lasts a full day, and execs are happy with the product form
factor. Antenna designs are being reviewed, but acceptable options are
apparently on the table. We believe the introductory device is likely to a be
a plug and play that can be worn, or plugged into a car or home stereo. It
would hold MP3s, and likely, we believe, allow recording of full songs heard
over the air.

The Gen3 chipset upon which this wearable would be based is postage-stamp
sized, offering heat and efficiency improvements over Gen2.5. The Gen4
chipsets,due out in 1Q05, are thumbnail-sized, and should open up a new
possibility of embedding XM radio in other consumer devices, such as cell
phones or other small MP3 players (such as Apple`s iPod.), by late 2005 or
early 2006.

Hardware subsidies for the Gen4 chip should be minimal, helping drive down
SAC. XM may even be able to get CE-makers to pay XM to license the chipsets,
if they see it as a key differentiator. Another possibility is that XM could
offer modest subsidies for a marketshare land grab.

[candlebougie]

Press Release Source: Delphi Corporation; XM Satellite Radio


Delphi and XM Introduce `SKYFi2` Satellite Radio Receiver
Wednesday August 18, 1:00 pm ET
All-new SKYFi2 includes first-ever pause and replay features

NEW YORK, Aug. 18 /PRNewswire/ -- Delphi Corp. (NYSE: DPH - News), a pioneer of in-vehicle entertainment and electronics, and XM Satellite Radio (Nasdaq: XMSR - News), America`s No. 1 satellite radio service, are introducing another breakthrough product, the new Delphi XM "SKYFi2" -- the next generation SKYFi satellite radio receiver.
(Photo: http://www.newscom.com/cgi-bin/prnh/20040818/DEW007 http://www.newscom.com/cgi-bin/prnh/20020315/DEF002LOGO )
The Delphi XM SKYFi2 takes SKYFi, the best selling satellite radio receiver ever, and makes it even better by adding several new exciting features, including the first-ever "pause" and "replay" functions for satellite radio. Utilizing leading edge technology, the "30 Minute Replay" function continuously and automatically saves the last 30 minutes of programming -- including programming from multiple XM channels. In addition, listeners can pause the program they are listening to with the option to play back that programming within 30 minutes. The unit also has a built-in wireless FM modulator, personalized stock ticker, personalized sports scores, a clock, TuneSelect(TM) by song and artist and much more.

The new vehicle kit is upgraded for wireless FM modulation through the antenna allowing users to easily self-install SKYFi2 in their vehicle. SKYFi2 also features a new, easier to read display and will work with all existing SKYFi accessories including the Delphi CD Audio System. Additional features include a large scroll wheel, convenient remote control, direct channel entry, the ability to preview and channel search by channel name, artists and song titles, and 30 channel presets. All of this combines to give users the most opportunity to experience more than 120 XM channels of revolutionary programming including news, sports, traffic, weather, and 68 commercial-free music stations.

"Our new Delphi XM SKYFi2 is the first satellite radio receiver to offer listeners the ability to pause and replay their favorite XM program," said Joe Damato, director of consumer electronics for Delphi Product & Service Solutions. "Everyone has experienced the frustration of an untimely telephone call or wished they could `hear that song again` while enjoying their favorite program. SKYFi2 addresses these problems simply and elegantly -- making it a `must-have` product for dedicated XM listeners."

The Delphi XM SKYFi2 will be available at most major consumer electronics retailers this fall for $129.99 MSRP. Optional new home and vehicle adaptor kits are also available for $69.99 MSRP.

"We are excited about SKYFi2 because in addition to the pause and replay functions and the personalized stock quotes, XM listeners can customize and access for the first time scores for pro football, baseball, basketball, hockey, tennis, golf, NASCAR, and your favorite college sports while listening to XM," said Dan Murphy, senior vice president, product marketing and distribution, XM Satellite Radio. "These innovations round out the industry`s most feature-rich plug and play model available."

Delphi satellite radios have received many industry recognitions, including Roady2, named "Editor`s Choice" by PC Magazine in its recent five- star review, as well as the original SKYFi which was recognized by Consumers Digest as a "Best Buy" -- a rating awarded to fewer than three percent of the competing models in any given product category.

[candlebougie]

Exzellenter Research-Bericht:

http://www.leggmason.com/capitalmarkets/research/commentary/…

[candlebougie]

Press Release Source: XM Satellite Radio


Audi to Offer Factory-Installed XM Satellite Radio on Audi A8 and Audi TT Models for 2005 Model Year
Wednesday September 1, 9:01 am ET


WASHINGTON, Sept. 1 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nasdaq: XMSR - News), the nation`s leading provider of satellite radio with more than 2.1 million subscribers, today announced that Audi, one of the world`s leading automobile manufacturers, will offer XM Radio as a factory-installed feature on Audi A8 and Audi TT models for the 2005 model year.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
The Audi models with factory-installed XM will come with a 90-day trial subscription to the XM service, which offers more than 130 digital radio channels of commercial-free music and premier news, sports, talk, and entertainment programming from coast to coast. XM subscribers pay a monthly fee of $9.99

In addition to offering factory-installed XM Radio on A8 and TT models, Audi offers XM as a dealer-installed feature on its A4, S4, A6, RS, A8, and allroad quattro models.

Customers can now place orders for the 2005 Audi models with factory- installed XM at Audi dealerships across the continental U.S. The models will start arriving at dealerships this month.

"We are very pleased to announce that Audi is expanding the number of models that offer XM Radio," said Hugh Panero, President and CEO of XM Satellite Radio. "We look forward to providing XM`s critically-acclaimed programming and exceptional sound quality to A8 and TT customers."

[candlebougie]

Press Release Source: XM Satellite Radio


XM Satellite Radio Adds Big Ten Conference College Football and Basketball Games
Tuesday September 7, 8:01 am ET


WASHINGTON, Sept. 7 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nasdaq: XMSR - News), the nation`s leading provider of satellite radio with more than 2.1 million subscribers, today announced that XM is airing Big Ten Conference football and men`s and women`s basketball games, the latest addition to XM`s outstanding line-up of college sports programming.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
"When it comes to college sports, XM offers the most teams in satellite radio," said Hugh Panero, President and CEO of XM Satellite Radio. "We are very proud to welcome the Big Ten Conference and its extraordinary history of athletic success to XM. Big Ten fans across the country will now be able to tune into games on XM Radio, whether they are in the car, at home, or on the go."

Kirk Ferentz, University of Iowa head coach said, "We are excited that Hawkeye fans across the country will be able to listen to games on XM Satellite Radio. Iowa boasts some of the most passionate fans, students, and alumni in college sports, and now they can hear Hawkeye football on XM wherever they are from coast to coast."

XM Radio recently announced partnerships with the Atlantic Coast Conference (ACC) and Pacific-10 (Pac-10) Conference to air football and men`s and women`s basketball games hosted by these top conferences. College sports are carried on XM channels 180 through 188. A complete schedule of Big Ten, Pac-10, and ACC college football games broadcast on XM is available online at http://www.xmradio.com/collegesports.

This fall, XM listeners will be able to see the latest scores for their favorite college sports teams on the radio display screen. The Delphi XM SKYFi2 satellite radio, the newest XM plug-and-play receiver, will display scores for college sports, as well as professional football, baseball, basketball, hockey, tennis, golf and NASCAR, while you tune into XM`s 130-plus channels of commercial-free music and premier sports, news, talk, and entertainment programming. The SKYFi2 radio (MSRP: $129.99) will ship to retailers in October.

[candlebougie]

Press Release Source: XM Satellite Radio


XM Radio Launches Premium Online Music Service; Dell and XM Team Up to Market New Service to the Digital Home
Wednesday September 15, 8:01 am ET


WASHINGTON, Sept. 15 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nasdaq: XMSR - News), the nation`s largest provider of satellite radio with more than 2.1 million subscribers, today announced the introduction of XM Radio Online, a premium Internet music service to debut in early October. As part of the launch, eligible Dell customers who purchase Dell Inspiron notebook and Dimension desktop computers will receive a special trial offer for the commercial-free online music service.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
XM Radio Online subscribers will be able to listen to XM`s critically- acclaimed, 100% commercial-free music channels and a variety of other XM content, including The Bob Edwards Show, over the Internet for a monthly fee of $7.99. XM Satellite Radio subscribers will receive a discounted rate for XM Radio Online of $3.99 a month. Consumers will be able to sign up for XM Radio Online via listen.xmradio.com.

Beginning in mid-October, Dell Inspiron notebook and Dimension desktop customers will receive an exclusive free, 30-day trial subscription to XM Radio. Dell customers also will be able to access XM Radio Online through the Dell Media Experience (DMX) portal.

"We are very excited to be making our commercial-free music line-up available on the Internet through XM Radio Online, and we`re especially pleased to be working with a market leader such as Dell," said Hugh Panero, President & CEO of XM Satellite Radio. "We know that people who get XM`s music channels through their Dell PCs are going to love the experience, just as our subscribers who enjoy XM in the vehicle, at home, or on the go."

"We`re proud to be teaming up with XM to bring XM Radio Online to the digital home," said Mark Vena, Dell`s Director of Digital Home Marketing. "This partnership is yet another indication of Dell`s unique commitment to providing music lovers with more choices at a great value."

XM Radio and the free trial for Dell U.S. customers will be marketed through Dell catalogs, online advertising, and other promotions.

[candlebougie]

30 Dollar......

[candlebougie]

as taken from the flyonthewall.....

XM Satellite Radio-XMSR expect suprisingly strong Q3 subscriber additions-Buy@SMMI
Our checks show that XMSR`s net subscriber additions is over 500k & that they will be released on October 1st.


mal sehen, ob SMMI (Sander Morris Harris - Analysten) recht haben....

[candlebougie]

as taken from the flyonthewall...

XM Satellite-XMSR expect 2.6M subs on Friday vs 2.3M street est, reit OW@JPHQ
Maintain Overweight; believe our FY sub target of 3.1M is conservative; expect wearable satellite radio/MP3 product by Xmas or early 05; and next-gen chipset to be embedded in cellphones. We continue to recommend purchase. :theflyonthewall.com

[candlebougie]

New SkyWaves Research Report
Press Release Source: SkyWaves Research Report


SkyWaves Research Report Releases New Satellite Radio Growth Estimates
Monday September 27, 8:00 am ET


ANN ARBOR, MI--(MARKET WIRE)--Sep 27, 2004 -- SkyWaves Research Report, an Ann Arbor, Mich.-based research publication covering the satellite radio industry, reported Monday that satellite radio subscriptions are poised for spectacular growth as the holiday selling season approaches.


In its fall edition, SkyWaves Research released findings of its quarterly channel checks and sales estimates, and it published its annual analysis of current and future relationships between satellite radio broadcasters and automobile manufacturers. Taken together, these studies portray an industry that will report vigorous growth in quarterly and year-end subscribers -- and is likely to enjoy long-term growth that is still underestimated by many observers.

"Our studies illustrate the enormous potential for accelerating subscriber gains," said Steve Black, a SkyWaves Research writer. "Among other things, we see three to four million new vehicles equipped with satellite radios annually and continually, beginning in the 2006 model year."

Based on its extensive channel checks and additional analysis, SkyWaves Research estimated that XM Satellite Radio (NasdaqNM:XMSR - News) would reach a year-end total of 3.32 million to 3.37 million subscribers, substantially above the company`s conservative guidance. SkyWaves Research also estimated that Sirius Satellite Radio would reach a year-end total of 955,000 to 980,000 subscribers, and that it could reach its year-end goal of 1 million subscribers .

The conclusions, plus third-quarter subscriber trends and forecasts, were included in the latest, 52-page edition of SkyWaves Research, which brings its readers important information, in-depth analysis and interviews that are not available elsewhere.

This edition also features a breakthrough report and analysis of the data-delivery capabilities of satellite radio broadcasters, which represent an underappreciated additional source of revenue. "It is time to stop thinking about satellite radio as a music delivery service," Black said. "It is time to start thinking about it as a service that delivers data in the form of ones and zeros, some of which happen to produce music."

At the same time, SkyWaves Research is proud to announce an expanded lineup of services to its subscribers. This includes the recent introduction of the SkyWaves Research Weekly News Summary (a weekly roundup of satellite radio developments and commentary, emailed to subscribers each Friday evening) and an ambitious program of Flash Emails that feature instant updates and breaking news.

A preview of the latest quarterly report is available at this website link, http://www.skywavesresearch.com/pages/6/index.htm

Full details can be acquired through this website link, http://www.skywavesresearch.com/pages/4/index.htm

[candlebougie]

Press Release Source: XM Satellite Radio


XM Satellite Radio Launches `XM Nation: Operation Helping Hand` to Support Red Cross in Wake of Hurricane Devastation
Wednesday September 29, 6:13 pm ET


WASHINGTON, Sept. 29 /PRNewswire-FirstCall/ -- XM Satellite Radio, the nation`s leading provider of satellite radio, is launching "XM Nation: Operation Helping Hand," a major effort to help support the American Red Cross disaster relief in the wake of four devastating hurricanes that have struck the U.S. in the last seven weeks.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
In the aftermath of Hurricanes Charley, Frances, Ivan, and Jeanne, the Red Cross is mobilizing the largest feeding, sheltering and human resources deployment effort in response to a natural disaster in its history. The Disaster Relief Fund allows the Red Cross to provide emergency services to the victims of all types of disasters. Prior to these massive hurricanes, the Disaster Relief Fund had been almost entirely depleted by a large number of small but costly disasters. Following the hurricanes, this fund is strained more than any time in recent history.

XM is broadcasting on-air appeals to rally its millions of listeners nationwide to make contributions to the Disaster Relief Fund through XM`s Operation Helping Hand web site at http://www.xmradio.com/helpinghand or by calling 1-800-HELP-NOW (press "2" to participate in Helping Hand).

XM`s effort will culminate with a fund-raising drive to be broadcast on XM Live (XM Channel 200) October 8 and 9. Artists and XM talent supporting the effort include Quincy Jones, Phil Collins, Willie Nelson, Bob Edwards, and talk radio duo Opie and Anthony. The show will also feature highlights of concerts recorded at the XM Performance Theater in Washington, D.C. Several other XM channels will urge listeners to make donations during the broadcast for a total of 36 hours of programming on XM.

"We are calling on the XM Nation to help the Red Cross provide relief for the thousands of people whose lives were impacted by the recent hurricanes," said Hugh Panero, President and CEO of XM Satellite Radio. "The recovery effort is going to take months and cost many millions of dollars, and the Red Cross deserves all the help it can get."

"We appreciate XM`s endeavor to help the Red Cross as we embark on this historic relief effort following this devastating series of hurricanes," said Joe Becker, Vice President of Response for the American Red Cross. "We know that the people at XM and XM fans are incredibly passionate people who care about their community whether across the street or across the country, and we`re grateful for their support."

On September 10, XM launched the XM Emergency Alert channel (XM Channel 247), which delivers round-the-clock information about weather emergencies, natural disasters, and other hazardous incidents to listeners across the country. During Hurricanes Ivan and Jeanne, XM Emergency Alert aired survival information such as evacuation routes, shelter locations, health and medical information, and updated weather information for impacted areas from the Weather Channel. XM also offers 21 channels devoted to weather and traffic conditions in 21 specific metropolitan areas 24 hours a day.

[candlebougie]

Press Release Source: XM Satellite Radio


XM Satellite Radio Exceeds 2,500,000 Subscribers in Third Quarter
Friday October 1, 4:01 pm ET
Adds More Than 415,000 Net New Subscribers
Expects to Exceed 3.1 Million Subscribers by Year`s End


WASHINGTON, Oct. 1 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nasdaq: XMSR - News), the nation`s leading provider of satellite radio, today announced that it finished the third quarter 2004 with more than 2,500,000 subscribers. XM added more than 415,000 net new subscribers in the quarter and is on pace to exceed 3,100,000 subscribers by year`s end. The XM subscriber gain during the quarter is 75% higher than the 237,000 net new subscribers added in the third quarter of 2003.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
"We continue to be pleased with the cost-efficient growth of our subscriber base and the continuing strong demand for XM`s products and programming in both the new car and aftermarket channels. Aftermarket sales during the third quarter would have been higher, but for a temporary reduction in Delphi XM Roady2 receiver production during a four-week period in the quarter while a low-yield component was being replaced. Roady2 production returned to normal capacity in late August," said Hugh Panero, President and CEO of XM Satellite Radio.

"The second half of the year is shaping up very well, with third quarter subscriber gain reflecting consistent progress towards exceeding our 2004 year-end guidance of 3.1 million subscribers," added Panero. XM`s product picture for the fourth quarter is very attractive -- both in volume and variety. SKYFi2, with the first ever satellite radio 30-minute replay/pause feature, as well as a built-in FM modulator and individualized sports and stock updates, is now in production and will be available in significant quantities at retail during the quarter. Audiovox will also introduce a new XM plug-and-play radio during the quarter.

New Exclusive Programming Debuts Monday, October 4th

Also driving consumer demand in the fourth quarter are the availability of major ACC, Big Ten and PAC-Ten football and basketball games on XM, plus several new content initiatives debuting Monday, October 4, including The Bob Edwards Show (XM Channel 133) and The Opie & Anthony Show (XM Channel 202). On October 11, the company is launching XM Radio Online, a premium Internet music service being marketed to the digital home in partnership with Dell.

"XM`s strong foundation of subscriber growth during the first three quarters coupled with our new feature rich Roady2, SKYFi2 and Audiovox radios and the launch of exciting new content in the fourth quarter should produce an outstanding Holiday Season. Buy early (and often) while there`s plenty of choice in the market!" concluded Panero.

[candlebougie]

Press Release Source: XM Satellite Radio


XM Satellite Radio Launches XM Radio Online
Monday October 11, 3:30 pm ET
XM`s New Premium Internet Radio Service Offers Commercial-Free Music, `Bob Edwards Show,` `Opie & Anthony` and More


WASHINGTON, Oct. 11 /PRNewswire-FirstCall/ -- XM Satellite Radio, the nation`s leading satellite radio provider with more than 2.5 million subscribers, today launched its premium Internet radio service XM Radio Online.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
XM Radio Online delivers XM`s 24-hour, commercial-free music channels and other exclusive XM programs, including "The Bob Edwards Show," the XM Comedy channel, and, for a limited time, "Opie & Anthony" on the Internet for one monthly fee of $7.99. XM Satellite Radio subscribers receive a discounted rate for XM Radio Online of $3.99 a month.

"XM Radio Online gives people a brand-new way to experience the incredible variety of entertainment enjoyed by millions of XM subscribers nationwide," said Hugh Panero, XM Satellite Radio President and CEO. "You get an amazing line-up of music and comedy, plus Bob Edwards and Opie & Anthony, two of the most-talked-about shows on radio today."

Web users can access XM Radio Online by visiting http://listen.xmradio.com. XM recently announced that eligible Dell customers who purchase Dell Inspiron notebook and Dimension desktop computers will receive a 30-day free trial for the online music service starting later this month.

Among the many choices available on XM Radio Online will be XM`s 68 commercial-free music channels, ranging from hip hop to opera, bluegrass to blues, disco to underground rock, as well as the children`s channel XM Kids and the comedy channels XM Comedy and Laugh USA.

XM Radio Online will also carry the newly launched "Bob Edwards Show," hosted by the award-winning journalist and former host of National Public Radio`s "Morning Edition," and, for a limited time, the new "Opie & Anthony Show," featuring the edgy humor of one of the most popular and controversial duos in radio.

Other choices on XM Radio Online include the cocktail jazz channel On the Rocks and the eclectic, off-the-wall music channel Special X. These two channels were previously offered on XM Satellite Radio`s basic channel line- up, and are now available exclusively on XM Radio Online.

[candlebougie]

Press Release Source: XM Satellite Radio


XM Radio Online Now Available Through Microsoft`s Windows Media Player 10 and Windows XP Media Center Edition 2005
Tuesday October 12, 2:01 pm ET
Microsoft Enables Access to XM`s Enormous Variety of Commercial-Free Music and Other Exclusive Programs Through Windows Media Player 10 and Windows XP Media Center Edition 2005


WASHINGTON, Oct. 12 /PRNewswire-FirstCall/ -- XM Satellite Radio, the nation`s leading provider of satellite radio, today announced that XM`s wide variety of commercial-free music and other exclusive programming is now available through Microsoft`s Windows Media Player 10 and Windows XP Media Center Edition 2005.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
XM is offering its new premium Internet radio service XM Radio Online through Microsoft`s Windows Media Player 10 and Windows XP Media Center Edition 2005. Microsoft users can choose XM Radio Online simply by clicking on the Windows Media Player 10 Digital Media Mall or through the Windows XP Media Center Edition 2005 Online Spotlight.

"We are thrilled to be working with Microsoft to offer XM Radio Online to millions of Windows XP users nationwide," said Hugh Panero, President and CEO of XM Satellite Radio. "With the click of a mouse, you can hear all of the amazing music choices available on XM, as well as exclusive shows like the brand-new morning program hosted by the `voice of public radio` Bob Edwards."

"Microsoft is pleased to be working with XM Satellite Radio to deliver a unique and compelling entertainment experience to all Windows XP users," said Chad Hodge, Group Manager in the Windows Digital Media Division for Microsoft Corp. "XM Radio Online offers an incredible range of music for every conceivable taste without commercial interruption and is a fantastic addition to the entertainment options we offer through Windows Media Player 10 and Windows XP Media Center Edition 2005 Online Spotlight."

XM Radio Online subscribers listen to XM over the Internet for a monthly fee of $7.99. XM Satellite Radio subscribers receive a discounted rate for XM Radio Online of $3.99 a month.

[candlebougie]

Press Release Source: XM Satellite Radio


Major League Baseball Partners With XM Satellite Radio for 11-Year, $650 Million Broadcast and Marketing Agreement
Wednesday October 20, 9:47 am ET
XM Satellite Radio to Be the Official Satellite Radio Network of Major League Baseball and Begin Broadcasts in 2005


NEW YORK and WASHINGTON, Oct. 20 /PRNewswire-FirstCall/ -- Major League Baseball and XM Satellite Radio (Nasdaq: XMSR - News) today announced an 11-year, $650 million agreement enabling XM to broadcast games of every Major League Baseball (MLB) team nationwide beginning with the 2005 regular season. XM, with more than 2.5 million subscribers nationwide, will be the official satellite radio network of MLB.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
"This is the crown jewel -- the deal that we`ve been waiting for," said Hugh Panero, CEO of XM Satellite Radio. "Major League Baseball is America`s national pastime and a natural fit with XM, the national leader in satellite radio. MLB has the broadest appeal of any major sport. People of all ages are baseball fans, from children to grandparents. Baseball is also a sport ideally suited for radio, given its natural pace and the ability to vividly describe each play."

"This agreement between Major League Baseball and XM Satellite Radio is a significant step forward in providing baseball fans greater access to more games in more locations," said Baseball Commissioner Allan H. (Bud) Selig. "This is a wonderful opportunity for Major League Baseball given XM`s ever- increasing national availability. Our fans will be able to listen to the local broadcasts of their favorite teams from anywhere in the country. This partnership will add to the continuing growth and popularity of our game. It is a further example of the renaissance that exists in baseball today."

As the official satellite radio network of Major League Baseball, XM will have rights to use the Major League Baseball silhouetted batter logo and the marks of the 30 MLB Clubs. XM also will develop specific programming content that showcases Major League Baseball, its teams, and its personalities.

XM to Create Major League Baseball Channel

In addition to broadcasting live games, XM will create a Major League Baseball radio channel featuring original content and classic Major League Baseball game broadcasts. As Major League Baseball enjoys strong support from its Hispanic fan base, XM also will broadcast select games in Spanish.

"Baseball has enormous appeal, not only to its millions of fans, but to automobile manufacturers as well, which will help further strengthen XM`s leadership position in the automotive market," Panero concluded.

[candlebougie]

XM radio seen launching `wearable` device-analyst
DIENSTAG PRESSEKONFERENZ!!!

Thu Oct 21, 2004 08:59 PM ET
By Sue Zeidler
LOS ANGELES, Oct 21 (Reuters) - XM Satellite Radio Holdings Inc (XMSR.O: Quote, Profile, Research) next week is expected to unveil a "wearable" device, marking the satellite radio industry leader`s latest effort to woo audiences to the nascent format, analysts said.

A spokesman for Washington, D.C.-based XM declined to comment beyond saying a major product announcement was planned for Oct. 26 in New York with automotive parts and consumer electronics products maker, Delphi Corp. (DPH.N: Quote, Profile, Research)

"XMSR is also likely to announce its wearable device next week. There is a good shot this `Walkman` type device, in the near term, will differentiate XM`s hardware from Sirius," a rival satellite radio system, said Kit Spring, analyst with Stifel, Nicolaus in a note for investors.

He said such a device would "also get investors thinking about future combinations of IPOD/TIVO-like satellite radios, which would increase the value of the monthly subscription."

A radio industry executive said the device was believed to be a satellite-radio receiver with headphones that also had a hard drive enabling users to download XM content.

Spring could not be immediately reached for comment.

Delphi has already partnered with XM for such products as the XM SKYFi satellite radio. Since introducing it in 2002, the company has shipped over 750,000 of the portable units.

XM rival Sirius Satellite Radio Inc (SIRI.O: Quote, Profile, Research) has said it expects to roll out wearable products in late summer 2005.

The new "wearable device" by XM could bolster increasing investor sentiment about the business prospects for satellite radio, although some analysts cautioned that both rivals are investing heavily in a bid to attract a mass audience.

Earlier this month, Sirius reached a five-year, $500 million deal with shock jock Howard Stern to bring his popular program to the company`s line-up in a bid to narrow the gap with XM.

XM responded this week by signing a $650 million deal to broadcast Major League Baseball games for 11 years.

XM Satellite has about 2.5 million subscribers. Sirius` subscriber base has exceeded 700,000 and the company said it remains on track for 1 million subscribers by the end of the year.


© Reuters 2004. All Rights Reserved.

[candlebougie]

DELPHI AND XM INTRODUCE MyFi - FIRST PERSONAL, PORTABLE HANDHELD XM2GO SATELLITE RADIO

Newest satellite radio receiver includes time-shifting "memory mode" and integrated rechargeable battery so you can listen to XM Satellite Radio at home, in the car, or on the go

Product launch to feature superstar Elton John in national TV advertising campaign

Washington D.C., October 26, 2004 -- Delphi Corp. (NYSE: DPH) a pioneer of in-vehicle entertainment and electronics, and XM Satellite Radio (NASDAQ: XMSR), America`s number- one satellite radio service with more than 2.5 million subscribers, today announced a major milestone in consumer electronics -- The Delphi MyFi™, the first personal, portable XM2GO satellite radio that delivers XM`s Ultimate PlayList™ anytime, anywhere - at home, at work, in the car and now, on the go.

"The Delphi MyFi is the next generation of satellite radio," said Francisco (Frank) Ordoñez, President of Delphi Product and Service Solutions, and Vice President of Delphi Corp. "This month marks the 50th anniversary of the portable transistor radio, which revolutionized the audio world. Today, Delphi and XM continue their tradition of satellite radio breakthroughs with MyFi, another industry first."

The hand-held MyFi gives users the personal freedom to enjoy XM Radio`s Ultimate PlayList of more than 130 digital XM channels in two ways: a "live" listening mode and a time-shifting "memory" mode. The MyFi`s live mode enables users to listen live to all of XM`s 68 commercial-free music channels, plus premier news, sports, talk, traffic and weather channels. MyFi`s memory mode - called "My XM" -- allows users to store five hours or more of XM`s outstanding content with the press of a button, even when the unit is not in use. The MyFi makes it possible to enjoy XM Satellite Radio anywhere, anytime, effortlessly.

"MyFi is a revolutionary product that dramatically expands XM Radio`s appeal and potential subscriber base," said Hugh Panero, CEO of XM Satellite Radio. "Consumers have been waiting for a wearable satellite radio that also works in the car and home. XM and Delphi are thrilled to make this product a reality in time for the upcoming holiday season."

XM also announced today that superstar Elton John will be featured in the national TV advertising campaign to launch the MyFi. The TV spot directed by award-winning music video director and photographer David LaChapelle is a humorously surreal celebrity "slice of life," which follows Elton as he travels from place to place listening to his new hit song "Answer in the Sky" from his critically-acclaimed album Peachtree Road on his Delphi MyFi satellite radio.

"The MyFi is one of the biggest things to ever happen to radio, and Elton John is one of the biggest names in music," said Panero. "We`re thrilled to be working with Sir Elton, and the TV commercial is going to be an enormous hit with viewers."

MyFi from Delphi: The Complete, All-in-One Satellite Radio

The MyFi satellite radio (MSRP: $349.99) comes with all of the accessories needed to enjoy XM at home, at work, in a vehicle or on the go. As the most advanced satellite radio available, the MyFi offers a complete package of components and features:

Components

Hand-held MyFi receiver (weight: 7.3 ounces)
Rechargeable, integrated battery
Complete home accessory kit
Complete vehicle accessory kit
First-ever built-in XM antenna
Headphones
Remote control
Belt clip/stand
Carrying case
Features
Large, illuminated six-line LCD display
Up to 30 channel presets
Live XM listening mode
My XM™ time-shifting memory mode (maximum of 5 hours)
Stock ticker
Sports score ticker
Built-in wireless FM transmitter makes any FM radio an XM Radio
Built-in alarm clock


The MyFi will be available at major U.S. retailers such as Best Buy, Circuit City, Crutchfield, and online sites in early December. MyFi is the newest member of the family of Delphi satellite radio products, including the acclaimed SKYFi2 and Roady2 plug-and-play radios.

[candlebougie]

Guter Bericht!!


By Amy Gilroy -- TWICE, 10/27/2004 11:36:00 AM

New YORK - Delphi and XM Satellite Radio announced the MyFi, which will be the lead product of a new personal portable category to fall under the banner XM2Go.

Sirius currently offers a “personal” radio under the Xact brand, but said while that unit is intended for outdoor use, “it is not intended as a wearable,” according to a Sirius spokesman.

The new MyFi is also XM`s first satellite radio product to offer a five-hour music buffer to store and retrieve favorite songs. Similar in size to the Roady 2, the MyFi can fit in the palm of the hand. The device can also act as a plug-and-play receiver with a built-in FM modulator and a built-in antenna and will be bundled with both a home and car kit.

Delphi’s consumer electronics director Joe Damato said the new MyFi, at a cost of $350 including the home and car kits and portable accessories, is not positioned to compete against MP3 players such as the iPod.

“The people who use MP3 players have to work pretty hard in order to get content. You have to rip CDs to your computer, organize music files or make playlists and download that into your portable MP3 player. The people buying MyFi will be those that don’t have time to rip CDs. Seventy to 75 percent of XM subscribers are over the age of 30. The MP3 crowd is a younger user.”

The MyFi uses rechargeable batteries that will last about 5 hours on a single charge. Users can dock the MyFi in the home kit to recharge, and press the store button to record up to five hours of music (or it can be set to record up to 2.5 hours over two different channels). Or they can simply hit a button to record as they listen to XM.The next time the user records any programming, however, it will erase all items previously stored in memory.

According to Delphi, the MyFi indexes all the programming, which shows song titles, artists or the name of the track. Users can then scroll to find a particular artist or song.

Dan Murphy, XM’s senior VP product marketing and distribution, said, “I think you can expect more product offerings [under XM2Go] in the market in 2005.” He also noted, “We think this will create an entirely new exciting opportunity for the retailers and for the growth of satellite radio.” He explained that as the MyFi has a built-in transmitter and antenna, users can place it next to a clock radio or boombox and it will play XM through the clock radio or boombox speakers.

Delphi does not expect consumer resistance to the $350 price point, claiming, “When you look at the market share the SkyFi has had for a long time, even though there were more affordable plug-and-play receivers, it commanded a premium because a lot of people liked the design and utility better. I think this is going to really show retailers that they don’t have to promote only low-priced satellite radio to drive their business,” said Damato.

He would not offer the specific market share of the Delphi SkyFi but said that Delphi products overall (including the Roady) command a 65 percent share of all aftermarket satellite radio.

The MyFi will ship to retailers in November with “a pretty good distribution at some of the major retailers” by the week of Thanksgiving, Damato said, adding, “We’re offering it to all our retailers this fall. We have a lot of product coming in.”

[candlebougie]

Gutes Quartal, Zusammenfassung des CC folgt:

Press Release Source: XM Satellite Radio Holdings Inc.


XM Satellite Radio Holdings Inc. Announces Third Quarter 2004 Results
Thursday November 4, 9:00 am ET
XM Exceeds 2.5 Million Subs; Adds 415,671 Subs in Quarter
XM Signs 11-Year Deal to Carry Major League Baseball Starting 2005
XM Unveils MyFi, First Wearable Satellite Radio


WASHINGTON, Nov. 4 /PRNewswire-FirstCall/ -- XM Satellite Radio Holdings Inc. (Nasdaq: XMSR - News) today reported its financial and operating results for the third quarter ended September 30, 2004. As of September 30, 2004, XM Radio reported 2,516,023 subscribers. This represented net subscriber additions of 415,671 for the quarter, a 75 percent increase over the 237,395 subscribers added in third quarter 2003.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
"We are the satellite radio leader in subscribers, technology and content," said Hugh Panero, XM Satellite Radio President and CEO. "XM`s subscriber momentum combined with our outstanding new programming and XM`s unmatched technology, featuring the new Roady2, SKYFi2 and the groundbreaking MyFi, sets the table for an outstanding Holiday season and beyond."

Quarterly Revenue Accelerates

For third quarter 2004, XM reported quarterly revenue of $65.4 million, more than doubling the $26.9 million reported in the third quarter 2003. Revenue for the third quarter 2004 also represented a 23 percent increase compared to revenue of $53.0 million reported in the second quarter 2004.

Net Loss Narrows

XM`s Net Loss for the third quarter 2004 was ($118.0) million as compared to ($133.5) million in the third quarter 2003. XM reported an EBITDA loss of ($62.9) million for the third quarter 2004, compared to ($64.4) million for the third quarter 2003, a period which included $4.4 million in de-leveraging charges. XM continues to focus on successful business execution as indicated by significant subscriber growth, declining Cost per Gross Addition (CPGA) and improved operating margins, while achieving strong growth during 2004 to date.

Continued Reduction in the Cost to Acquire Each New Subscriber

The third quarter 2004 CPGA was $89, an improvement of $38, or 30 percent, compared to the $127 CPGA reported in the third quarter 2003. XM`s CPGA represents the fully-loaded cost to acquire each new subscriber, including Subscriber Acquisition Costs (SAC) of $57, as well as advertising and marketing expenses.

Improved Liquidity

The total liquidity position of XM as of September 30, 2004 was $583 million. XM had total cash and short-term investments of $448 million and capacity under the Revolving Credit and Equity Facilities from GM of $135 million.

XM Signs 11-year Agreement to Carry Major League Baseball Beginning 2005

Major League Baseball (MLB) and XM Satellite Radio announced an 11-year agreement enabling XM to broadcast games of every MLB team nationwide beginning with the 2005 regular season. MLB, the most natural sport for radio by far, provides over 2,400 games, spanning eight months of the year, and offering baseball fans entertainment from morning to night depending on the originating time zone. In addition to broadcasting live games, XM will create a dedicated Major League Baseball radio channel featuring original content and classic MLB game broadcasts. XM will also broadcast select games in Spanish.

XM Unveils Delphi MyFi(TM) -- the First Wearable Satellite Radio

XM and Delphi recently announced a major milestone in consumer electronics -- The Delphi MyFi(TM) -- the first personal, portable XM2GO satellite radio that works in the home, car and, now, on the go. The hand-held MyFi gives users the personal freedom to enjoy XM in two ways: a "live" listening mode or a time-shifting "memory" mode. The MyFi`s live mode enables users to listen live to all of XM`s 100% commercial-free music channels, plus premier news, sports, talk, traffic and weather channels. MyFi`s memory mode, called "My XM," allows users to store a minimum of five hours of XM`s outstanding content with the press of a button, even when the unit is not in use. The MyFi (MSRP $349) comes with all the accessories needed to enjoy XM in all environments and will be available at major U.S. retailers such as Best Buy, Circuit City, Crutchfield, and online sites in early December. To support the launch of MyFi, superstar Elton John will be featured in a national TV advertising campaign.

XM, the Industry`s Technology Leader, Ships New Products for Holiday Season

During the quarter, XM shipped the new XM Delphi Roady2 and SKYFi2. Roady2 (MSRP $129), the smallest satellite radio, includes a built-in wireless FM adapter for easy connection to any car or home radio, a sleek new body design, seven different backlight color selections and the ability to display 20 customized stock quotes. SKYFi2 (MSRP $199 with home kit) adds several exciting features to the best-selling plug-n-play radio, including the first- ever "pause" and "replay" functions for satellite radio. The "30 Minute Replay" function continuously and automatically saves the last 30 minutes of programming from multiple XM channels. The unit also features a built-in wireless FM adapter allowing for easy installation, provides personalized stock ticker and sports scores, includes a clock, and TuneSelect by song and artist.

To support purchases of XM radios as gifts for the Holiday season, XM is implementing an XM Gift Card Program whereby consumers can purchase the Cards in denominations of $30, $50, $80 or $140. Now, when consumers give an XM radio as a gift, they can also purchase an XM Gift Card that will prepay the monthly subscription fee. XM Gift Cards will be available at select retail locations as well as online at xmradio.com.

XM Expands Leadership of OEM Distribution Channel

For the 2005 model year, XM is being offered on over 110 vehicle models, with more than 80 of those being factory-installed in General Motors, Honda, Audi and Volkswagen vehicles. In addition, all 2005 Acura RL`s will feature a one-year subscription to XM Radio and XM NavTraffic -- the nation`s first satellite radio traffic information service combining traditional GPS navigational systems with current traffic information, including route blockages and commute times. For the 2005 model year, new vehicles with XM Radio factory-installed will include the Acura TSX and MDX, the Honda Odyssey, Element and Accord Hybrid, Saab 9-7x, Volkswagen Passat and the Audi A8 and TT.

XM Debuts Original Talk and Music Programming

In October, XM debuted exclusive new programming, including "The Bob Edwards Show," and the irreverent radio duo Opie & Anthony. Bob Edwards, the award-winning public radio newsman, debuted his new morning interview program exclusively on XM`s new channel, XM Public Radio (XMPR Channel 133) and Opie & Anthony returned to the airwaves for the first time in over two years with a new morning show on XM (High Voltage Channel 202).

XM also announced its exclusive, original music series for the Fall 2004 season including "Artist Confidential" and "Then ... Again ... Live!" "Artist Confidential" is an original series offering one-hour live performances and candid, one-on-one interviews with today`s most popular artists including Bonnie Raitt, Don Henley, Rush and Phil Collins. "Then ... Again ... Live!" allows artists to recreate their most acclaimed albums from today`s vantage point with the benefit of twenty first century technology. Alice Cooper, Cheap Trick and Lynyrd Skynyrd have highlighted the series to date. "From Be Bop to Hip Hop with Quincy Jones" is a seven-part miniseries in which Quincy walks listeners through the timeline of contemporary music from his unique perspective and in his own words. Other original XM programming includes shows from Rock-n-Roll Hall of Famer Tom Petty and hip hop legend Snoop Dogg, among others. The complete lineup of new Fall shows is available online at xmradio.com.

XM Radio Adds Starbucks Hear Music Channel, Big Ten Sports and Launches XM Radio Online

The Starbucks "Hear Music" Channel 75 offers an ever-changing mix of the best new music and essential recordings from a wide range of music genres representing the Starbucks lifestyle. XM Radio also announced the addition of Big Ten Conference football and men`s and women`s basketball games to its already outstanding line-up of college sports programming, featuring Atlantic Coast Conference (ACC) and Pacific-10 (Pac-10) Conference football and men`s and women`s basketball games. In addition, XM launched XM Radio Online, a premium music service, with the support of Dell and Microsoft. XM Radio Online offers access to all of XM`s 100% commercial-free music channels, "The Bob Edwards Show," "The Opie & Anthony Show" and our exclusive comedy and kids programming. XM Radio Online is available through Microsoft`s Windows Media Player 10 and Dell`s Media Experience (DMX) portal.

[candlebougie]

Here are some points from the conference call.

-Best ever quarter coming up during Holiday season.
-XM has 80% of all subscribers.
-XM is technology leader (virtually alone in OEM market at this time)
-2 out of 3 retail subscribers belong to XM.
-XM on pace to exceed 3.1 million subs for year end.
-$65 million revenues for quarter representing a 140% increase over last year.
-XM`s CGPA reduction of 30%
-Subscriber acquisition costs 4 times better than Siri.
-1.2% churn on NET subs.
-Starbucks exposure in first quarter 2005 (4100 locations to bring exposure to XM)
-Best college football game package.
-MLB signs 11 year deal. 2400 games (10 times more than NFL) . Games broadcast all day based on time zone. XM had surveyed their listeners on the importance of the baseball deal. That means XM does market research before they buy content. Great management.
-New XM radio baseball channel to be announced.
-Technology lead (Roady2, MyFI)
-Elton John to be spokesman for XM MyFi.
-New gift card for XM subscriptions. ($30, $50, $100)
-Dell and Microsoft teaming up for XM online. Inspiron Notebooks include 30 day free online trial.
-80% paying subs, 20% promotional. Projected to have only 15% promotional at end of year. A 5% improvement.
-ARPU to remain consistent in fourth quarter
-XM customers prepaying an average of 6.4 months as opposed to 5.3 months in last quarter.
-CPGA and SAC to increase in 4th quarter but still under $110 guidance given for year.
-CFBE moving into 2006 due to MLB deal. Management knows that it is worth it based on the research they did with their customers. They believe it will be adriving force to gaining subs and increasing revenues going forward.
-Next generation chipset coming soon. (ie. early 2005) New chips will have better functionality, less power drain, etc. )
-Total Gross additions 616,000, 2.8, 2.9% gross churn.
-XM management want to avoid further dilution (if required), they prefer delevering options! That is great news for XM shareholders!
-OEM conversion rate improved 3% and will continue to improve going forward.
-MyFi website has already signed up 15,000 people requesting more information in less that a week.
-Canadian hearings for XM sat radio currently occuring in Canada. XM can achieve a maximum share in Canadian satellite radio of 30%.
-XM mangement commented on Siri’s PR fluff and want to avoid diluting and paying stock to get talent like Siri does. Prefer to aim at sure things to drive subscriber base based on research. MLB deal was based on research.
-Toyota will take their time to make up their mind. They will make the decision in their own time.
-NavTraffic can be a potential big aftermarket seller. Acura RL’s bundled Navtraffic and XM to be standard.
-Online subs not added currently as subs. Might need to differenitiate the plans going forward.

A pretty good conference call with everything on track and no unexpected surprises.

Good luck.

[candlebougie]

Der Chart muss einfach mal wieder sein.... wenn nur nicht das Euro/Dollar-Verhältnis wäre!!

[candlebougie]

SolomanSmithBarney-comments

November 8, 2004 SUMMARY XM delivered a solid 3Q:04, with 2.52 million subscribers and 415k net additions, modestly below our initial estimate of 438k. XM restrained marketing spending during 3Q:04. As a result, CPGA came in at $89, below our estimate of $94. We believe the company made a conscious decision not to compete with SIRI`s NFL-related marketing push We believe the company is well positioned for a very strong 4Q:04, driven primarily by high growth in the retail segment during the Christmas season. We have increased 4Q:04E marketing expense for the Christmas season. We are also increasing our 2005E marketing spend estimate, as we expect XM to ramp up marketing related to the baseball season. As a result, we are lowering 4Q:04 EPS from ($0.73)to ($0.76) and 2005 EPS from ($2.67) to ($2.75). Fundamentals remain very strong. Our Hold rating (2H) is based on valuation.

[candlebougie]

OPINION DETAIL By GUPTA

XM delivered a solid operational quarter in 3Q:04, displaying strong spending
discipline. We believe the company is well positioned for a very strong 4Q:04,
driven primarily by robust growth in the retail segment during the Christmas
season. We remain comfortable with our year-end 2004E forecast of 3.12 million
subscribers. We are increasing our estimates for marketing spending in 4Q:04
and 2005, as we believe the company will be more aggressive with promotions and
subsidies in an effort to accelerate growth. We continue to be bullish on the
satellite radio industry and the growth prospects for XM.

We believe the compelling outlook for the company is discounted in the current
share price. Accordingly, we are maintaining our Hold, High Risk (2H) rating.

3Q:04 IN LINE WITH EXPECTATIONS

On October 1st, XM preannounced that it added 415k net subscribers during the
third quarter to finish the period with 2.52 million subscribers. This growth
was below our initial estimate of 438k, reflecting a supply shortage and retail
seasonality.

The company succeeded in converting 60% of OEM promotional customers into
paying subscribers, well above our conservative estimate of 53%. XM noted that
the conversion rate varies greatly depending on the dealership from which the
promotional customer purchased the vehicle. Surveys of customers who did not
convert to paying status indicate that a substantial number of them didn`t even
know they had XM radios installed in their vehicle. The company is devoting
significant resources to training dealers to effectively introduce users to the
radios when they pick up their vehicles. If these programs are successful, the
company`s future conversion rate could prove to be higher than our estimates.

Figure 1. XM Satellite Radio: 3Q:04 Actual vs. Expected

Source: Smith Barney, company reports

XM reported total revenues of $65.4 million, roughly in line with our $66.0
million estimate, and up 143% from 3Q:03. Subscriber revenues were $59.8
million, almost exactly in line with our estimate of $59.6 million, and up 176%
from 3Q:03. Equipment revenues were $1.4 million, somewhat below our estimate
of $2.7 million, as the company sold less promotional equipment than we had
expected. ARPU came in at $8.64, slightly above our $8.46 estimate.

XM`s EBITDA loss in 3Q:04 was ($63.6) million, $9.4 million better than our
($73.2) million estimate, due to spending discipline. Subsidies and
distribution expenses, at $37.3 million, were $4.3 million lower than expected,
due to lower than expected gross adds. Advertising spending was $16.6 million,
well below our $20 million estimate. We believe the company made a conscious
decision to restrain 3Q:04 marketing dollars to avoid competition with Sirius`s
heavy NFL-related advertising push. This proved to be a good decision.
Revenue share and royalty expenses were $10.8 million, also below our $13.2
million estimate. This category was impacted by one time cost benefits.

On a reported basis, costs per gross add (CPGA) were $89, somewhat below our
estimate of $94, due to the aforementioned lower-than-expected advertising
spending. SAC was $57, in line with our $57 estimate.

Figure 2. XM Satellite Radio: 3Q:04 Actual vs. Expected

Source: Smith Barney, company reports

[candlebougie]

"While the agreements validate the satellite radio brand, they significantly increase the financial risk (need more subscribers to reach breakeven). We estimate that XM needs about 900k additional subscribers to breakeven on its MLB agreement , and Sirius needs about 2 million incremental subscribers to breakeven on its NFL and Howard Stern deals."


Sirius’ business plan appears fully funded; XM’s funding requirements tied to growth. Given the upfront nature of the model (operators bear the acquisition costs even before the consumers begin paying subscription revenues); cash cushions and funding requirements are essentially tied to subscriber growth. Under our current growth assumptions, we believe that Sirius is fully funded after its recent equity and debt offerings.


Relative execution risks lower at XM. While both stocks are likely to continue to be momentum-driven in the near-term, we think the relative execution risks are lower at XM.

• XM is more than a generation ahead of Sirius`s chipset technology which has allowed it to develop smaller radios, incorporate replay function, and include data capabilities that have the potential to significantly expand the market for satellite radio. In addition, the technological gap is reflected in the higher subscriber acquisition costs for Sirius (we project XM`s SAC at $60 for 2004 versus Sirius at under $200) given the need for larger subsidies to bring the radio prices to mass-market levels.

• XM has a significantly stronger factory install program with General Motors and Honda who together are spending about $100 million annually to promote awareness while also deploying XM radios in more vehicle models. In contrast, Sirius` partners DaimlerChrysler and Ford have only just begun offering factory installed Sirius radios on limited models with a larger scale rollout expected towards 2005-end.

• We estimate XM is valued at about $2,000 per 2005 subscriber at current share prices, versus about $2,800 for Sirius. At these levels, the XM stock is valuing in about 3x the estimated 2005 subscribers (projected at about 5.5 million) compared to Sirius which is pricing in 4x the expected 2.3 million subscribers at 2005 year-end. While there is the case that XM and Sirius are likely to share the incremental market equally longer-term, it is optimistic to assume Sirius` relative value should converge now. However, if Howard Stern is able to join Sirius` platform earlier than January 2006 as currently stipulated, Sirius` subscriber growth in 2005 could be higher than our projections, which could reduce the valuation gap.

• While XM carries more onerous revenue share arrangements than Sirius, Sirius shares carry the risk of material equity dilution as partner`s warrants, options and restricted stock units get vested/exercised. Over our projected period there is potentially about 20% of incremental dilution on Sirius shares once certain performance objectives are met.

More Lehman Bros.....

"New product deployment announcements. XM recently announced an agreement with NavTech to offer consumers NavTraffic which integrates the GPS navigation systems with real-time traffic information over XM satellites. GPS navigation devices are increasingly entering the mass-market in the U.S. Real-time traffic information complements the mapping capabilities of navigation systems and significantly enhances their value to consumers. XM’s NavTraffic is already available on Acura RL model vehicles
and is expected to be offered on certain Cadillac models in the near-term. Pioneer recently announced its next-generation automotive navigation system will feature NavTraffic information. Over the next one year, we expect announcements regarding availability on more models and from more manufacturers. In addition, Garmin, and potentially Delphi, likely could also announce development of XM-incorporated automotive navigation systems. New product announcements from Sirius will depend on the completion of the 3G chipset, in our view. Once the chipset is developed, Sirius could offer several new products with smaller
form-factors, increased functionality (memory, replay and data capabilities, wearable, etc), and potentially, reduced price points. "

[seinfeld]

Meine Güte ... hier vereinsamst Du ja total ... ist ja noch schlimmer als bei Sirius

Na, dann will ich hier mal ´ne Meldung reinstellen

Allerdings eine, die ich nicht so toll finde und die
mich erst einmal noch nicht zum Einstieg bewegen kann ...

Vielleicht aber später


18.11.2004 16:11:
XM Satellite Radio Holdings Inc. Announces Pricing of $300 Million Convertible Senior Notes Due 2009

WASHINGTON, Nov. 18 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nachrichten) Inc. , announced today the pricing of $300 million of 1.75% convertible senior notes due 2009. The Company has also granted the initial purchaser of the notes the option to purchase up to an additional $100 million aggregate principal amount of the notes.

XM Satellite Radio plans to use the proceeds for working capital and general corporate purposes.

The notes are non-callable and will be convertible into the Company`s Class A Common Stock at an initial conversion rate of 20.0 shares per $1,000 principal amount of the notes (equal to an initial conversion price of $50.00 per share, representing a conversion premium of approximately 40.9%). The closing sale price for the Company`s Class A Common Stock on November 17, 2004 was $35.48 per share.

The closing is expected to occur on Tuesday, November 23, subject to customary closing conditions.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these notes and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. The notes are being offered by the initial purchaser solely to certain qualified institutional buyers pursuant to Rule 144A, have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and applicable state securities laws.

Gruß Seinfeld

[candlebougie]

Wow,danke!!

Kommt darauf an, was mit dem Geld gemacht wird... mal sehen.

[seinfeld]

XM Satellite Radio upgraded to "buy" - update

Tuesday, November 23, 2004 1:40:58 PM ET
Independent Research


NEW YORK, November 23 (newratings.com) – Analyst David B Kestenbaum of Independent Research Group upgrades XM Satellite Radio (XMSR.NAS) from "neutral" to "buy." The target price is set to $40.

In a research note published this morning, the analyst mentions that the company is currently adding new subscribers at a robust pace. Independent Research Group considers the current valuation of XM Satellite Radio’s stock attractive, ahead of the seasonal strength across the satellite radio market during the holiday season and the upcoming Consumer Electronic Show scheduled for January next year.


Gruß Seinfeld

[seinfeld]

Better Opportunity In XM Satellite Than Sirius
11.24.04, 10:45 AM ET

J.P. Morgan downgraded Sirius Satellite Radio (nasdaq: SIRI - news - people ) to " neutral" from " overweight," saying the company is now much closer to reflecting its near-term rapid growth opportunity. " At a market cap of $10.0 billion and a firm value of $9.6 billion, Sirius`s equity value is only 9% below rival XM Satellite Radio Holdings (nasdaq: XMSR - news - people ) while its firm value discount is only 16%, despite having less than a third of XM`s sub base," J.P. Morgan said. " We see limited room for more narrowing of the value gap." The research firm said Sirius is experiencing faster growth from a smaller base than XM, due in part to recent content deals with Howard Stern and the National Football League. " We now believe Sirius` stock is susceptible to minor hiccups, making profit taking prudent," J.P. Morgan said. " We continue to see substantial opportunity in the satellite radio sector, but now believe the better risk/reward is at XM."

Gruß Seinfeld

[candlebougie]

exzellenter Bericht. für beide SatRad-Unternehmen....



here is the entire article for those wishing not to register to view it:

-------------------------------------------------------

washingtonpost.com
At XM, Boldly Going
Under Hugh Panero, Satellite Radio Is a Hit. Just Ask Howard Stern And Mel Karmazin.
By Annys Shin
Washington Post Staff Writer
Monday, November 29, 2004; Page E01


Hugh Panero has never had much patience for naysayers.

As a young man, after being turned down for a job reporting on the cable industry for a trade journal, Panero created his own version of the publication, complete with original stories and a mock cover. He sent it in and was hired, said Doug Panero, one of three younger brothers.

As one of the early pioneers in pay-per-view TV, Panero overcame doubts that consumers would ever pick pay-per-view over the video store.

Six and a half years ago, he believed in subscription radio service when few others did. Secure in that belief, Panero turned a staff of fewer than a dozen working out of a windowless basement office in downtown Washington into the leading satellite radio service, with more than 500 employees and 2.5 million subscribers. Its only direct competitor, Sirius Satellite Radio Inc. of New York, has 800,000 subscribers.

Satellite radio has now come into its own, and competition is sizzling.

XM Satellite Radio Inc. offers more than 100 channels for a $9.95 monthly fee, with highlights that include popular newscaster Bob Edwards from National Public Radio. In the works for the spring is a 24-hour baseball channel -- the result of a broadcasting and marketing deal worth up to $650 million over 11 years that XM signed with Major League Baseball in October. The District-based company last month introduced the first wearable satellite radio receiver, called the MyFi, expanding its service to outside of the car and home.

Sirius this fall lured shock jock Howard Stern away from FM radio with a $500 million, five-year deal. That was after it agreed in December 2003 to pay $220 million in cash and stock to the National Football League to broadcast its games and related content on a new, 24-hour channel. Sirius, which offers listeners more than 100 channels for $12.95 a month, capped its headline-making announcements on Nov. 18 with the news that former Viacom Inc. chief operating officer Mel Karmazin was joining as chief executive, effective immediately.

Analysts called Karmazin`s jump to Sirius a blessing for satellite radio. "We believe this news is good for the satellite radio industry overall because it involves the hiring of one of the most respected managers in the entire media industry," Legg Mason media analyst Sean P. Butson wrote in a Nov. 19 research note.

Following the announcement, Sirius`s share price rose 38 percent, to $6.51. XM`s stock closed Friday at $37.61, up 8.5 percent over the same period.

Panero`s reaction to his new official nemesis was more sanguine.

"A short time ago, [Karmazin] was telling anyone who would listen that satellite radio would never amount to anything. All I can say is [Karmazin`s appointment] an interesting confirmation of the validity of satellite radio," he said. "We set the groundwork for people realizing this is the new platform for entertainment. I`m glad we could provide Mr. Karmazin with gainful employment."

A little in your face. But chief executive Panero, who grew up in the Bronx, isn`t the kind of executive who gets his nails manicured. But having led XM through a series of professional and personal trials, he`s comfortable doing a little hazing.

A Step Ahead


Back in 2001, when the attacks of Sept. 11 looked as if they would sink XM`s scheduled launch, Panero never betrayed any doubt in the company`s prospects, recalled Gary Hahn, XM`s vice president for advertising and creative services. Hahn worked with Panero at his previous employer, Request Television Inc., a pay-per-view company in Denver. "He led by that day-in and day-out relentless pursuit of goals. You tend to look at a leader if you have second thoughts. He had none," Hahn said.

At XM, when capital ran short or articles appeared questioning satellite radio`s viability, Panero and his team kept themselves going with the vision that they were helping to create a new medium, Hahn said.

Panero describes the management style at XM as collaborative. But his colleagues at XM credit him with making key early decisions. One big one was moving technology development in-house.

Sirius, by contrast, contracted out the development of the microchips needed to deliver the radio service to consumers. The outside contractor could not get the chip sets ready as scheduled. So, even though Sirius put its satellites in orbit first, XM was able to begin selling its service nearly a year ahead of Sirius.

XM remains several quarters ahead of Sirius in the development of its chip sets, which enabled it to roll out a wearable receiver in time for Christmas. Sirius officials said they expect to have a similar device ready next year.

Panero and XM Chairman Gary M. Parsons also focused early on how to distribute their satellite service. They were able to forge relationships with General Motors Corp. and Honda Motor Co., which became investors in XM, owning 5 and 8 percent stakes, respectively. General Motors and Honda offer XM as a standard, factory-installed feature in more than 100 models of cars and trucks. For the 2004 model year, GM installed XM radios in 1 million cars, while Honda installed them in 200,000. The two automakers also promote XM Satellite Radio in their print and television ads and through dealers.

Sirius also has partnerships with automakers to install Sirius in more than 50 models but has no car companies as investors. And Sirius partners, including DaimlerChrysler AG and BMW, don`t install Sirius receivers as standard equipment.

As a result, Sirius has focused more on distribution through retail outlets such as Best Buy. But it needs to persuade its automotive partners to commit to installing Sirius in more cars if it wants the subscriber growth XM has experienced, said April Horace, a Janco Partners Inc. media analyst . The auto market has been one of the biggest drivers of XM`s subscription growth, analysts said.

Hedging his bets, Panero is testing a variety of other distribution channels for XM`s content, including airlines such as JetBlue and AirTran and Internet streaming. XM earlier this year signed a deal with Starbucks Coffee Co. to create XM`s Hear Music channel, which features adult contemporary music that evokes the Starbucks lifestyle. The channel will eventually be piped into Starbucks stores. Microsoft recently imbedded XM in its new Media Center.

"In this kind of business, what you did today is forgotten quickly," Panero said. "We have to find new and innovative ways to reach people."

What Fits Where


Sirius officials say they are closing the gap with XM on a variety of fronts. While XM still has more than three times as many subscribers, a year ago the ratio was 11 to 1, said Jim Collins, a Sirius spokesman. Sirius also recapitalized last year, reducing its long-term debt and boosting its cash position, which helped it make its biggest plays to date: snagging football and Stern.

Though he doesn`t debut on Sirius until Jan. 1, 2006, Stern has already proved to be a marketing force for Sirius. The day of the Karmazin announcement, Stern created a spectacle in Union Square in New York, handing out scores of free Sirius radio boom boxes.

XM had also been talking to Stern, said Panero and Parsons. But in the end, they decided they weren`t willing to pay the price he was asking. The same goes for football, which Panero believes is better suited to television than radio. Given the number of baseball games played each year, and the length of the season -- nearly twice as long as that of football -- Panero and his team thought baseball offered better value.

Given what Sirius is paying to get Stern, on top of its NFL deal, some analysts have questioned whether the company is taking a big gamble. If Stern and football don`t drive Sirius`s subscriber numbers up, the company may not remain financially viable.

The NFL deal is already eating into Sirius`s bottom line. Sirius recently reported that its third-quarter net loss grew by 60 percent from the same quarter a year earlier, hitting $169 million, in part because of expenses associated with the NFL transaction. The costs wiped out part of its gains in third-quarter revenue, which climbed to $19.1 million from $4.3 million.

By contrast, XM`s third-quarter net loss narrowed to $118 million, compared with $133.5 million for the same period a year earlier. Its third-quarter revenue more than doubled, reaching $65.4 million.

Horace of Janco Partners said she is looking to Karmazin, known for his focus on cost-cutting and relationships with advertisers, to bring down Sirius`s costs and boost ad revenue. Sirius spends $229 to acquire a new subscriber; XM spends about $57.

With 200 million cars on the road and 108 million households in the United States, analysts said that the market for satellite radio could reach 20 million to 35 million -- plenty of customers to sustain both companies. In the end, Horace said, consumers will decide which service to subscribe to based on content.

And in content, consumers now have a real choice. XM has hired its own shock jocks, Opie and Anthony, and the deal with NPR`s Edwards gives it another popular voice. XM officials would not disclose the financial terms of either deal.

So far, the recent content deals have not boosted subscriber growth significantly. Analysts said the announcement of the NFL deal, for example, didn`t have any impact on Sirius`s subscriber numbers. Edwards and Opie and Anthony debuted in October on XM, but XM does not release figures on how many people are tuning in.

Of course, many of the offerings on Sirius and XM are designed to appeal to narrow segments of the population, while collectively attracting a wide range of listeners. The Starbucks Hear Now channel, for example, is supposed to draw in the coffee chain`s many baby boomer customers. Market research indicates satellite radio draws subscribers of all ages, though the majority of them are male.

XM spokesman Chance Patterson said the combination of Starbucks, Edwards and baseball is not part of an attempt to position XM as more high-brow than its rival. At least not intentionally. Edwards, in particular, is more a reflection of Panero`s tastes. Panero, a longtime Edwards fan, was unhappy when NPR dismissed him from Morning Edition, Patterson said, and seized the opportunity to woo Edwards to XM with a prime-time show built around him.

Edwards said he didn`t pursue any options outside of XM. "They said everything I wanted to hear," he said.

Karmazin, while famous for hiring Stern and Don Imus when he ran Infinity Broadcasting Corp., is not known for taking great interest in programming. At Viacom, he once dismissed the creative side of the broadcast business "arts and crafts," according to the Wall Street Journal.

His Enterprise


Panero`s sensibilities permeate XM`s headquarters, a renovated printing factory in the Eckington section of Washington. The rough setting outside -- just off New York Avenue NE, by a Wendy`s and a FedEx distribution center -- gives way to an industrial loft-style interior filled with high-tech equipment and young, hip-looking staffers.

Panero`s playfulness comes through in the second-floor control room, a glassed-in area with a wall of sound monitors, a floor with lights, and what everyone at XM calls "the Captain Kirk chair." Panero sat in it and pressed a button to launch XM in 2001. He and his staff have made use of it at Halloween, dressing up as characters from Star Trek.

Panero keeps the door to his office open. So does his neighbor, XM Chairman Parsons. The two shout over to each other several times a day, Panero said.

"We`re a team," said Panero, referring to himself and the other senior managers. "We share everything. . . . It`s a very unique environment."

After his wife, Mary Beth Durkin, was diagnosed with leukemia in 2001, that collaborative effort extended to Panero`s personal life as well.

Durkin underwent chemotherapy for two years. Her weight dropped to 90 pounds. As a result of chemo, she sometimes suffered from dementia. Panero juggled taking care of her with looking after their two children and the demands of a growing company. His colleagues at XM organized a bone marrow drive to find a match for Durkin. Panero`s neighbors in Chevy Chase fed his children and last year took them in while Panero and Durkin traveled to Seattle for her successful bone marrow transplant.

Earlier this month, several XM employees and Panero`s neighbors joined Panero and Durkin at a Washington banquet hosted by the Marrow Foundation, where Durkin, Panero and the woman who donated life-saving stem cells to Durkin met in person for the first time. At the event, Panero choked up at the podium as he introduced his wife; over at the XM table, his employees wiped away tears.

The Path to XM


As a manager, Panero admits to modeling himself after Richard R. Aurelio, an ex-Newsday editor and former deputy mayor of New York under John V. Lindsay. In the 1980s, Warner Amex Cable Communications Inc. hired Aurelio to help win the New York City cable franchise. Panero, then a journalist, caught Aurelio`s eye with his aggressiveness and smarts. Aurelio hired him for Warner`s government relations shop. The two later moved over into operations.

Panero earned his MBA at night at Baruch College but learned mostly by studying his mentor. Panero "was incredibly curious about my management style," said Aurelio, now retired from Time Warner Inc. "He`d say, `Do you have a few minutes? I was kind of curious about that meeting we had this morning . . . the way you handled that situation. What was your thinking about it?` Sometimes it was annoying. I`d say, `Hugh, can we talk about this some other time?` But I was impressed."

"Dick ran New York City government during one of the most challenging and disruptive times. He knew how to get significant things done in a challenging environment. You can learn a lot from him," Panero said.

At Time Warner Cable, Panero quickly proved himself, helping launch one of the first high-capacity cable systems that offered more than 100 channels, including a large offering of pay-per-view channels. In doing so, he had to master complex technology, subscription sales, customer service and marketing -- all skills that would become crucial when building XM. Panero left in the early 1990s to run Request Television.

Panero is, by all accounts, a demanding task master who keeps a close eye on his deputies, said Jeffrey Bernstein, a former Request executive who remains close to Panero. At Request, if members of the senior management team slacked off, they knew Panero would call them out in front of their colleagues, Bernstein said. Panero also had little patience with jargon. "He`d say, `Don`t try to pull the wool over my eyes.` "

Panero also fought for his own, his former colleagues said, whether it was demanding higher salaries for them or defending them against petty slights. Panero and his crew of displaced New Yorkers stood out around the Denver headquarters of Tele-Communications Inc., which co-owned Request TV with News Corp.

Once, Bernstein recalled, a TCI human resources official asked Panero to do something about the hemlines worn by a female executive. Panero replied, "What, are you kidding?"

In 1998, Request TV merged with rival Viewer`s Choice. Panero wanted to be chief executive of the new company, but he was perceived as a TCI executive. The board wanted a neutral party from outside the company, and Panero was forced to move on.

At the time, friends of Panero recalled, he was crushed. It was the greatest disappointment of his professional career to be passed over not on merit but because of office politics.

Leaving Request proved serendipitous. As Panero cast about for a new direction, he was approached by a headhunter who was looking for a chief executive for a start-up then called American Mobile Radio Corp.

One of Panero`s first tasks was to come up with a catchier name -- XM.

"I would have never thought of that," Parsons said. "That`s why we hired him."

[candlebougie]

Legg Mason-Bericht (heute auch interview bei CNBC]


* We spent the Thanksgiving weekend testing XM`s new MyFi portable device and
believe that it will prove to be a strong competitor to Apple`s iPod and
other digital audio players.
* The MyFi officially goes on sale December 1, but a few Big Box electronic
stores were rationed a few dozen units early, which sold as quickly as they
were stocked in the Washington, D.C. area.
* The coverage and quality of the device were very good outdoors; auto and
home coverage improves materially with car and home kits, which are
included.
* Considering that the MyFi is the first generation of truly portable
satellite radios, we were very impressed and believe that its size,
functionality, and cost will all improve significantly over time.
* Due to its hefty price tag of $349, the MyFi may not produce huge holiday
sales this year, but we do believe that it will steal a significant portion
of the portable digital audio market over the long term.
* We continue to rate XM shares Buy on what we believe will be continued
strong, profitable subscriber growth; our $42 target price is based on a
15% cost of equity and a 6% terminal growth rate.

[candlebougie]

XM CEO Sees Satellite Radio on Cell Phones
Wed Dec 1, 2004 07:24 PM ET
Printer Friendly | Email Article | Reprints

By Sue Zeidler
LOS ANGELES (Reuters) - XM Satellite Radio Holdings Inc. (XMSR.O: Quote, Profile, Research) chief executive officer Hugh Panero on Wednesday said he expected satellite radio and cellphone services to converge within the next five years.

"Obviously, our core base is people who listen to radio in the home and car and now in the mobile market, and I think that as other distribution points present themselves, whether it be cellphones, or other mobile devices, we obviously can have a place in that," Panero told Reuters on Wednesday.

Panero said XM has had discussions with other service providers and hardware manufacturers. "They clearly have a need to efficiently provide content that will help motivate people to buy their hardware and we`re a natural place to go as we have become a more important player in content," he said.

Panero cited greater interest now that XM, the satellite market leader against No. 2 rival Sirius Satellite Radio Inc. (SIRI.O: Quote, Profile, Research) , draws near 3 million subscribers.

"When you first start out, you knock on a lot of doors. But when you wind up getting nearly 3 million subscribers ... the deal flow moves to you," he said.

"We`re a natural place that people want to go to explore how we can do things together. Then you get a lot of engineers together and as long as they`re all motivated and in the same room, magic can happen. And that`s what I think will happen over the next five years," he said.

XM in late October unveiled its wearable Delphi XM MyFi to further differentiate itself from Sirius and to lure users to a medium previously confined to the home and the car.

The MyFi costs $350 in addition to XM`s $9.99 monthly fee for more than 130 channels of commercial-free programing. It can run for five hours on a rechargeable battery and uses an antenna in its case to draw down the satellite signals.

MyFi became available this week at U.S. retailers like Best Buy Co Inc.(BBY.N: Quote, Profile, Research) and Circuit City Stores Inc.(CC.N: Quote, Profile, Research) , while XM also gave consumers a chance to reserve units to purchase on its Web site during November.

Panero said 15,000 people had shown interest by leaving emails or credit card information.

The MyFi has a "memory mode" to store and replay up to five hours of XM content. Users can record programs on the spot or set up a timed recording of a show in advance.

Panero said he believed portable a satellite radio player would eventually be combined with a digital music player.

"Clearly, convergence will occur at some point. It will happen even without our effort because people are beginning to build MP3 capability into a lot of consumer electronic devices," he said.

Interest in satellite has heated up recently with Sirius` $500 million broadcast deal for shock Howard Stern and its hiring of radio industry veteran Mel Karmazin.

Panero said the high-profile hirings underscored the potential of the still-emerging industry, which Karmazin himself had earlier downplayed.

"Karmazin just a few months ago told anyone who`d listen that satellite radio was never going to amount to anything. It`s amusing and ironic he`d come out months later to say this is the best thing since sliced bread," he said.

Regarding Stern, Panero said he viewed the deal as expensive. "Time will tell whether it was worth it. You get good marketing with Stern, but he can be very polarizing as well," he said.


© Reuters 2004. All Rights Reserved.

[candlebougie]

Research-Bericht: (fürs Wochendende)

Media/Broadcasting
Spectrum: William Blair Satellite Radio Digest, November 30, 2004

*** William Blair & Company, L.L.C. has received compensation for investment
banking services within the past 12 months, or expects to receive or intends to
seek compensation for investment banking services in the next 3 months from the
companies.***

XM (XMSR $36.98) hardware was well stocked at leading consumer electronics
retailers over the Thanksgiving weekend, with the exception of the new Delphi
MyFi handheld. The boombox for the Sirius (SIRI $6.63) Sportster plug-and-play
receiver was hard to find on store shelves.

With only one weekend of holiday shopping behind us, it is too early to
gauge whether our year-end subscriber estimates are on the mark. We believe
that Sirius and XM are positioned to at least meet stated guidance of 1 million
and 3.1 million subscribers, respectively. The amount of upside to guidance may
depend, in part, on product availability over the next few weeks.

We believe that both companies` stocks are generally at fair value, and the
fundamentals as we see them would not justify significant near-term appreciation
from current levels. That said, buzz related to holiday sales could fuel stock
price momentum until the year-end subscriber numbers are revealed. In addition,
there could be more significant announcements related to OEM partnerships,
programming, or new business opportunities that would cause us to reevaluate our
assumptions. Either way, we believe that both company`s stocks are currently
valued to allow for long-term appreciation above that of the market.

[candlebougie]

We maintain our Outperform rating on XM. The company continues to make good
progress toward healthy subscriber growth and cash flow breakeven through its
solid OEM partnerships, advanced aftermarket hardware, and generally predictable
cost structure. We maintain our Market Perform rating on Sirius. Although we
believe that developments such as the hiring of Mel Karmazin as CEO and
enhancements to the company`s sports programming since our last Spectrum,
published November 15, are positive, we believe the company`s shares are fully
valued at current levels.

Product Availability Update: Thanksgiving Weekend Store Checks Confirm Sportster
Boombox Scarcity
We visited four Circuit City and three Best Buy stores in the New York and
Washington, D.C., markets over the busy Thanksgiving shopping weekend. Our
store visits confirmed a scarcity in Sirius Sportster boomboxes that we first
observed through our online Circuit City product availability checks and phone
calls to Circuit City and Best Buy stores in 15 of the largest U.S. markets the
previous week. Of the seven stores visited over the Thanksgiving weekend, only
one Best Buy store had Sportster boomboxes in stock. The general unavailability
of the boomboxes for Sirius` most popular plug-and-play unit was consistent with
our finding that Circuit City removed the Sportster boombox from its Web site
only a couple of days after it was initially added to the site on November 15.
Furthermore, calls to 13 Circuit City and 12 Best Buy stores on November 22
revealed availability in only 36% of the stores. In contrast, our online
product availability checks of 120 Circuit City stores in the 20 largest U.S.
markets over the same two-week time period indicated that the two boomboxes
compatible with XM`s popular SkyFi and SkyFi2 receivers had been consistently
present in more than 99% of stores checked. When we contacted Sirius,
management indicated that freight backlogs at ports located in the western U.S.
contributed to the Sportster boombox scarcity, but that boomboxes are on their
way to stores and should be on shelves over the course of this week. We do not
believe this shortage of boomboxes, if temporary, will hinder subscriber
additions significantly for Sirius, but their absence may provide a modest boost
for XM from consumers who seek a boombox component with their plug-and-play
unit.

[candlebougie]

Availability of other satellite radio hardware over the Thanksgiving weekend was
generally good. Cardboard box displays and store shelves were well stocked with
XM`s new SkyFi2 receiver as well as the original SkyFi and the Roady2. The two
New York Circuit City stores visited had limited inventory of Sirius`
best-selling Sportster receiver, but the receiver was in ample supply in
Washington, D.C., area stores, and our online Circuit City product availability
checks indicate that while the stand-alone Sportster receiver has become
slightly less available, more than 95% of Circuit City stores checked on
November 29 carried a Sportster receiver and car docking combination kit.

XM`s much anticipated portable MyFi receiver was not present in any of the seven
stores we visited. Furthermore, our most recent online check found the MyFi
available in only 4.2%, or 5 of 120 Circuit City stores. Despite this limited
availability, XM has been heavily marketing the product with a new 30-second
television commercial featuring Elton John, a 60-second radio commercial
highlighting the MyFi along with other XM hardware offerings, and considerable
ad space in consumer electronic retailers` weekly circulars. The marketing
effort seems to be excessive for a product we expect will make a limited
contribution this selling season. Although XM management has downplayed the
quantities of the MyFi receivers available for holiday shipping, the significant
marketing effort seems to indicate that the company had planned on broad
availability. We will see whether supplies are greater than we expected once
the product hits store shelves.

Also not present during our Thanksgiving weekend store checks were gift cards
from either satellite radio provider. Both Sirius and XM indicated that gift
cards, which can be used to pay for the subscription services, would be
introduced during the quarter. We did find Sirius gift cards at Radio Shack
stores, and XM gift cards are available for sale on the company`s Web site.

[candlebougie]

Anecdotally, our conversations with Chicago-area Circuit City and Best Buy
salespeople over the past several weeks and conversations with sales personnel
in New York over the Thanksgiving weekend suggest a roughly even retail split
between XM and Sirius hardware sales. Indications from D.C.-area salespeople
skew in favor of XM products, though we believe that may be a function of XM`s
headquarters in the nation`s capital.

Sirius Bolsters Sports Programming
Though not carrying the same punch as Sirius` blockbuster NFL deal and XM`s MLB
agreement, Sirius has teed up more agreements in the sports programming arena.
The company recently resumed broadcasting up to 40 live NBA basketball games
each week as it did during the 2003-2004 NBA season. The contract between
Sirius and the NBA expired at the end of last season, but Sirius management
indicated that the NBA is allowing it to broadcast games while the two parties
work out details for a formal agreement. The Sirius web site currently uses the
NBA logo and advertises play-by-play coverage of games through the NBA Finals in
June. We expect more details will be provided once a formal agreement is
announced.

Sirius also announced multiyear agreements to broadcast the NCAA Division I
Men`s Basketball tournament and a number of weekly soccer matches from The
Barclay`s English Premier League. Both agreements are for three years.
Broadcasts of soccer matches commenced on November 27 and broadcasts of the NCAA
basketball games will begin with the start of the next tournament in March.
Financial terms were not disclosed for either deal.

[candlebougie]

Valuation Reality Check
Given the tremendous appreciation in both Sirius and XM shares in recent weeks,
we believe it is useful to revisit the valuation parameters we established in
our initiation Basic Report dated July 26. In that report, we employed two
valuation techniques, one traditional and one creative, to assess the potential
for appreciation in the stocks. The traditional method, discounted cash flow
analysis, creates a lower boundary for what we think the stocks are worth and
the creative method, based on the valuations of publicly traded satellite
television companies, describes what we would consider to be the upper boundary
at the end of 2005.

Over the last four months, both companies share prices have risen from below the
lower boundary to near the upper boundary. The figure below shows where the
stock prices of the two companies were as of the close on November 29, with
respect to this range. We believe that both companies` stocks are generally at
fair value, and the fundamentals as we see them would not justify significant
near-term appreciation from here. That said, buzz related to holiday sales
could fuel stock price momentum until the year-end subscriber numbers are
revealed. In addition, there could be more significant announcements related to
OEM partnerships, programming, or new business opportunities that would cause us
to reevaluate our assumptions. Either way, we believe that both company`s
stocks are currently valued to allow for long-term appreciation above that of
the market.

Discounted Cash Flow Analysis. Using our estimates of unlevered cash flows
through 2014 and terminal values expressed as multiples of adjusted 2014
unlevered cash flow, we create grids for Sirius and XM that reflect our
preferred discount rate and terminal multiple assumptions and the sensitivity to
those assumptions. We adjust estimated 2014 unlevered cash flow to normalize
capital expenditures, factoring in maintenance capex and one-fifteenth of the
cost to build and launch replacement satellites (assuming a fifteen-year
equipment life). We also build in a tax provision at 35%, since we expect both
companies to still be shielding income with net-operating losses 10 years from
now.

[candlebougie]

We favor discount rates of 17% and 16% for Sirius and XM, respectively, which
reflect their status as emerging growth companies and the associated expected
returns and costs of borrowing. We assigned Sirius a slightly higher discount
rate because it has not made much progress in the OEM channel to date and will
need to rapidly build up its presence in new vehicles to close the gap with XM
and hit our estimates. In addition, we believe that Sirius is farther away from
becoming cash flow-positive.

A terminal multiple of 16 times adjusted 2014 unlevered cash flow assumes annual
free cash flow growth of 9% in perpetuity. We assign Sirius and XM the same
multiple because we believe that the two companies will have similar subscriber,
profitability, and growth profiles by 2014.

Both Sirius and XM`s shares trade above the levels indicated by this analysis,
based on the discount rates and terminal values we selected. Sirius shares
trade 51% above the value of $4.44 expected at year-end 2005 using this
analysis. XM shares trade 33% above the implied price of $27.72.

[candlebougie]

Guest List: Tuesday, December 7 CNBC

Last Updated: December 06, 2004 6:01 PM ET

Squawk Box 7:00 AM - 10:00 AM ET
Vincent Farrell
Victory Capital Management

Brett Schaefer
Heritage Foundation

Ron Suskind
Author, Pulitzer Prize Winner
Gary Parsons
XM Satellite Radio
Board Chairman
Stevanne Auerbach
Toy Expert
Brianna Yamashita
Publishers Weekly

John Malone
Liberty Media

John H. Conolly
TeachMeFutures.com

Joel Kaplan
Office of Management and Budget
Deputy Director
Dan Barnett
Tec International
Chief Operating Officer
Spencer Ante
BusinessWeek

Hemant Shah
HKS & Co.
Pharmaceutical Analyst
James Moffett
UMB Scout WorldWide Fund
Portfolio Manager

[candlebougie]

HAMMER-NEWS!!

Deutlich besser als der SIRIUS-Deal mit Toyota, da factory-installs!!!


Press Release Source: XM Satellite Radio


XM Announces Long Term Data Services Agreement With Toyota Motor Sales, USA, Inc.; Toyota to Offer XM Radio as a Factory-Installed Option
Tuesday December 7, 5:30 am ET


WASHINGTON, Dec. 7 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nasdaq: XMSR - News), America`s number one satellite radio service with more than 2.5 million subscribers, today announced that Toyota has selected XM as its supplier for satellite delivered data services for Toyota, Lexus and Scion vehicles. In addition, Toyota will offer XM radios as a factory-installed option in Toyota and Lexus vehicles. The first vehicles factory-installed with XM radios will be available in 2006. Toyota will expand the factory- installed availability of XM`s satellite radio and data services to additional Toyota and Lexus models in the future. Plus, Toyota will expand the number of models offering XM as a dealer-installed option in 2005.
(Photo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
"We are delighted that Toyota has chosen to make our satellite radio and data services available as a factory-installed feature for its millions of customers," said Hugh Panero, CEO and President of XM Satellite Radio.

"Information services and compelling entertainment options like XM Satellite Radio are rapidly becoming `must-have` features for today`s automotive buyer," said David Danzer, Group V.P., Product Planning, Toyota Motor Sales. "This agreement with XM is a key element of our plan to deliver industry-leading data services and programming as factory-installed features in our Toyota and Lexus vehicles."

Today, as a part of the Genuine Toyota Accessories program, XM is available as a dealer-installed option on the following 10 models: Toyota Camry, Toyota Land Cruiser, Toyota Solara Convertible, Toyota Solara Coupe, Lexus ES 330, Lexus LS 430, Lexus LX 470, Scion tC, Scion xA and Scion xB. In 2005, Toyota will expand the number of models offering XM as a dealer- installed option, including the Toyota Avalon and Lexus GS 330.

[seinfeld]

Schwer nachzuvollziehen, oder


(AFX UK Focus) 2004-12-10 17:20 GMT:
CIBC still likes Sirius over XM Satellite

Article layout: raw
NEW YORK (AFX) - In the face of a sharp run-up over the past two months and two broker downgrades earlier this week, CIBC World Markets said Friday it was still "too early" to sell Sirius Satellite Radio.
Sirius lost some 20 percent of its value after Smith Barney and Bear Stearns downgraded the stock Wednesday on concerns the share price had gotten ahead of itself.


Prior to the downgrades, however, shares of the high-flying provider of satellite radio services had soared nearly 200 percent just from Oct. 1. But the stock bounced 37 cents, or 5.2 percent, to $7.54 Friday after CIBC analyst Jason Helfstein boosted his price target on the shares to $9 from $6.50, and told clients he still prefers Sirius over its chief competitor XM Satellite Radio Holdings . "Simply put, its higher monthly fee still makes Sirius more attractive, and we think advertisers will favor SIRI`s lineup of radio personality Howard Stern and the National Football League, among others, over XMSR`s Major League Baseball offering," Helfstein wrote in a research note. XMSR shares rose 1.6 percent to $38.73. Helfstein said he took a fresh look at his subscriber assumptions for both companies following the price swings in Sirius shares. Based on new models, he is now assuming 8.3 million, 14.5 million and 20.7 million combined satellite radio subscribers in 2005, 2006 and 2007, respectively. He estimates the market split at 34 percent Sirius/63 percent XMSR in 2005; 42 percent Sirius/58 percent XMSR in 2006; and 45 percent Sirius/55 percent XMSR in 2007.
Helfstein bases the higher Sirius forecasts on Ford Motor Co.`s plans to offer Sirius as a factory install option in 2006 and 2007 on up to 20 models of its Ford, Mercury and Lincoln brands. He also believes Sirius could garner 25 percent of Toyota production after news that the company can now offer hardware to support Toyota models at dealers or through its post production centers.


The analyst also included the benefit of advertising revenue in his outlook for both companies. For Sirius, he sees significant value for certain advertisers to identify with the NFL channel or the Howard Stern show. He expects that with former Viacom chief Mel Karmazin taking over as the company`s CEO, "it is reasonable" for the company to pursue advertising and sponsorship opportunities. Based on the assumption that Sirius will increase its retail market share to 50 percent by year-end 2005, Helfstein lowered his XMSR 2005 retail estimate to 2 million gross adds from 2.25 million. He set a $41 price target for XMSR. "Even with multiple contraction, we think 20 percent annual appreciation is still achievable by both companies," Helfstein said.


Gruß Seinfeld

[candlebougie]

The analyst from Legg Mason had this to say...
* Last night, we had the opportunity to talk to Jim Pisz, National Manager for Advanced Technologies at Toyota Motor Sales USA and were able to clear up a lot of confusion regarding this topic; following are details from that conversation.
* Toyota`s factory install and data services deals with XM are exclusive in long-term agreements; so, Sirius radios can only be port or dealer installed and its advanced data services cannot be provided even in Sirius radios over that term. We believe long term means at least five years.
* All Toyota dealers can order Sirius radios to be installed with the assistance of Toyota`s Accessory Division at the port, but no division of Toyota has a signed contract with Sirius regarding such installs; Audiovox or some other electronics manufacturer could have such an agreement with Sirius. The two parties disagree on this point, as Sirius claims it has a deal with Toyota.
* Penske`s relationship with Toyota was instrumental in Sirius achieving port and dealer install capability; we believe Penske (about 5% of U.S. Toyota sales) will likely push Sirius radios due to special incentives, but other dealers are less likely to do so given the extra cost associated with such orders and the fact that some Toyota vehicles will already have XM built-in beginning in 2006.
* We believe this additional clarity is very good news for XM, as it reinforces the strength of their relationship with Toyota and is specific as to exclusivity over the long term.

- The analyst from Smith Barney stated this,
"TM has selected XMSR as its exclusive supplier for satellite delivered data services for Toyota, Lexus and Scion vehicles. Terms of the deal are particularly attractive as there is no equity component or revenue sharing with TM. We believe XMSR was able to negotiate such an attractive deal due to its lead over SIRI in technology."

- The analyst from Lehman Brothers (the third largest shareholder in Sirius equity) stated this,
Toyota is a last major OEM deal: XM becomes the exclusive OEM provider. Toyota announced that it will offer XM Satellite Radio as a factory-installed option on its Toyota, Lexus, and Scion vehicles starting in 2006. However, given Toyota`s primary Japanese competitor Honda has been aggressively deploying XM radios, we would not be surprised if the XM factory-installed program is accelerated into 2005. We understand that the agreement includes offering data and telematics (like XM`s NavTraffic service) solutions for the Toyota vehicles, similar to what is available on Honda`s recently launched 2005 Model-year Acura RL. Given the complexity in offering two separate satellite radio options at the assembly line level, we think that XM likely would remain Toyota`s platform of choice for an extended period. We believe that Toyota`s economics is similar to Honda`s and will not be receiving any revenue share or hardware bounties, similar to General Motors. Sirius will be available on select Toyota vehicles as dealer-installed option. Penske, which is understood to account for about 6% of Toyota`s unit sales in the U.S. has warrants in Sirius and could possibly aggressively market Sirius` service in its 15-20 dealerships. However, once XM is available as a factory-installed option, selling Sirius as a dealer-installed option may become more
difficult.

[seinfeld]

FinanzNachrichten.de, 11.12.2004 00:35:00

XM Satellite Radio Added to NASDAQ-100 Index


WASHINGTON, Dec. 10 /PRNewswire-FirstCall/ -- XM Satellite Radio , the nation``s leading provider of satellite radio with more than 2.5 million subscribers, today announced that XM has been added to the NASDAQ-100 Index, effective at the beginning of trading on Monday, December 20, 2004.

The NASDAQ-100 Index is composed of the 100 largest non-financial stocks listed on the NASDAQ Stock Market based on market capitalization. Shares of XM also will be included in The NASDAQ-100 Index Tracking Stock .

"We are honored to be included in the NASDAQ-100 and listed among the leading technology companies in the world," said Hugh Panero, President and CEO of XM Satellite Radio. "This is a significant milestone for our company and a testament to the extraordinary work of our people who have made XM the market leader in satellite radio."

The NASDAQ-100 Index, launched in 1985, represents the largest non- financial companies listed on The NASDAQ Stock Market based on market capitalization. Index securities are ranked by market value and evaluated annually to determine which securities will be included. The NASDAQ-100 Index Tracking Stock represents ownership in the NASDAQ-100 Trust and is designed to provide investment results that generally correspond to the price and yield of the NASDAQ-100 Index.

About XM Satellite Radio

XM is America``s #1 satellite radio service with more than 2.5 million subscribers. Broadcasting live daily from studios in Washington, DC, New York City and Nashville at the Country Music Hall of Fame, XM``s 2004 lineup includes more than 130 digital channels of choice from coast to coast: 68 one- hundred-percent commercial-free music channels, featuring hip hop to opera, classical to country, bluegrass to blues; more than 40 channels of premier sports, talk, comedy, children``s and entertainment programming; and 21 channels of the most advanced traffic and weather information for major metropolitan areas nationwide. XM was named Best Radio Service at the 2004 Billboard Digital Entertainment Awards. Popular Science recently chose XM products for two prestigious "Best of What``s New 2004" Awards. As the Official Satellite Radio Network for Major League Baseball (MLB) and the Exclusive Satellite Radio Service for NASCAR, as well as the Official Satellite Radio Service for ACC, PAC-10 and Big-10 collegiate football and basketball, XM Satellite Radio is the industry leader in sports radio programming, offering thousands of live sporting events each year.

XM, the leader in satellite radio for the automobile market through partnerships with General Motors and Honda, among others, is available in more than 110 different car models for 2005. XM also is available in Avis rental cars and will soon be available on JetBlue and AirTran Airways. Additionally, consumers can experience XM over the Internet through XM Radio Online at http://listen.xmradio.com/. For more information about XM hardware, programming and partnerships, please visit http://www.xmradio.com/.

Factors that could cause actual results to differ materially from those in the forward-looking statements in this press release include demand for XM Satellite Radio``s service, XM``s dependence on technology and third party vendors, its potential need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.``s Form 10-K filed with the Securities and Exchange Commission on 3-15-04. Copies of the filing are available upon request from XM Radio`` s Investor Relations Department.


Gruß Seinfeld

[candlebougie]

09:22 EDT XMSR theflyonthewall.com: XM Satellite Radio-XMSR channel checks showing MyFi demand huge-OW@JPHQ
Sales for XMSR are strongest in WMT and while MyFi hasn`t been widely available it can be seen that this could become the best-selling satellite radio product when supply evens out with demand in 2005. We expect XMSR to get a boost in 2005 from the new MLB contracts, and think the greater risk lies with SIRI. :theflyonthewall.com


3 Millionen-Grenze sollte in der nächsten Woche erreicht werden...

[candlebougie]

[candlebougie]

from Legg Mason

* For the last several days, the Legg Mason Media Research Team has been
conducting a nationwide telephone survey of major electronics stores to gauge
demand for satellite radio this holiday season. Of the Circuit City and Best
Stores we contacted, an impressive 75% of each told us that satellite radio
sales were coming in ahead of expectations.
* Although it is difficult to know exactly what amount of sales were expected,
we note that about 10% of the stores said that they were entirely sold out of
either XM or Sirius and an additional 5% claimed they were sold out of both.
* Based on our survey results, we believe that Sirius` market share at Best Buy
and Circuit City improved to the 45%-50% range.
* Based on our survey results, we believe that both XM and Sirius have a very
good chance of beating our 4Q04 net add estimates of 626K and 373K, which
result in ending subscribers of 3.14M and 1.04M, respectively (company
guidance is greater than 3.1M and 1M).

Satellite Radio Survey

For the last several days, the Legg Mason Media Research Team has been
conducting a nationwide telephone survey of major electronics stores to gauge
demand for satellite radio this holiday season. While overall retail sales may
not be upsiding estimates, satellite radio demand appears to be very strong. In
our survey, we contacted Circuit City, Best Buy, and RadioShack stores in the
top-25 markets. The primary takeaways are as follows.

Robust Overall Sales

* Of the Circuit City and Best Stores we contacted, an impressive 75% of each
told us that satellite radio sales were coming in ahead of expectations.
* Although it is difficult to know exactly what amount of sales were expected,
we note that about 10% of the stores said that they were entirely sold out of
either XM or Sirius and an additional 5% claimed they were sold out of both.
* Although product shortages mean that sales were left on the table, we believe
that significant supply was in the channel, indicating robust sales this
holiday season.


Market Share

* Of the Best Buy and Circuit City stores we surveyed, about half stated that
they were selling XM and Sirius about 50/50.
* Of the stores that stated one of the satellite radio providers was selling
better, about 55% stated XM and 45% stated Sirius.
* Taken together, these two pieces of data imply that Sirius` retail market
share at the two largest electronics retailers should be in the 45%-50% range
this quarter, which is up slightly from 3Q04.

Devices

* According to the stores we contacted, XM`s SkyFi2 and Sirius` Sportster are
the best-selling devices.
* Several stores also mentioned that the MyFi devices were selling well; one
enthusiastic Best Buy salesperson told us it was " selling insanely well."
* However, 76% of the Best Buy stores and 65% of the Circuit City stores were
sold out of the MyFi radios due to strong demand and the stores that did have
units in stock averaged only 2-3 per store; new shipment volumes and
frequency varied widely by store, but averaged about a half dozen per store
per week.
* Based on our survey results, we believe the MyFi radios have been selling
very well since their introduction in late November; however, limited
quantities may limit some upside sales potential this month.


RadioShack

* Because RadioShack exclusively offers Sirius satellite radio, we include a
separate analysis of our survey here.
* Of the RS stores we contacted, an impressive 94% stated that Sirius sales
were coming in ahead of expectations.
* Due to the strong demand and what we believe may have been supply shortages,
about 60% of RS stores we contacted stated that they were completely sold out
of Sirius radios and that some were keeping a waiting list.
* Importantly, we found the RadioShack salespeople much less knowledgeable
about the product than their counterparts at BB and CC, but attribute part of
that dynamic to the fact that Sirius has only been available at RS for a few
months.

Conclusion

Based on our survey results, we believe that both XM and Sirius have a very
good chance of beating our 4Q04 net add estimates of 626K and 373K, which
result in ending subscribers of 3.14M and 1.04M, respectively (company guidance
is greater than 3.1M and 1M). We also point out that Chrysler`s Group Director
of Feature Innovation and Advanced Technology Strategy recently stated that
more than half of all Jeep Liberty, Chrysler Pacifica, and Chrysler 300 buyers
were signing up for Sirius. While XM will not be announcing its 4Q04 subscriber
results until its presentation at the Consumer Electronics Show (CES) on
January 7, Sirius has not disclosed the exact date it will release its results.
Importantly, under its new CEO Mel Karmazin, Sirius has discontinued its
practice of announcing subscribers when it generates 100,000 additional net
adds. As a result, no announcement has been made regarding the company crossing
the 900,000 milestone, which we believe occurred in early December. We believe
an announcement regarding reaching the 1M subscriber mark will likely be made
at Sirius` presentation on January 5 at CES, but could be made prior to that.

[seinfeld]

FROHE WEIHNACHTEN und ein superspannendes Börsenjahr 2005 wünscht euch allen

Seinfeld

[candlebougie]

XM Tops 3.1 Million Subscribers Ahead of Year-End Goal
XM Satellite Radio Tops 3.1 Million Subscribers Ahead of Year-End Goal
Monday December 27, 9:13 am ET

# WASHINGTON, Dec. 27 /PRNewswire-FirstCall/ -- XM Satellite Radio, the nation`s leading provider of satellite radio, today announced that it recently surpassed 3.1 million subscribers, the company`s year-end goal for 2004.(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )

"We are very pleased to announce that XM recently exceeded the 3.1- million-subscriber mark, which was our goal for the end of year," said Hugh Panero, President and CEO of XM Satellite Radio. "Holiday shoppers bought XM radios in record numbers, reinforcing XM`s significant market leadership position in satellite radio."

XM offered holiday gift buyers a variety of new, next-generation products, including the award-winning Delphi XM2Go MyFi, the first portable, hand-held satellite radio, and the Delphi XM SKYFi2, the first plug-and-play satellite radio with pause and replay features. XM recently announced an 11-year deal to broadcast games for every Major League Baseball team beginning in spring 2005. XM also announced a long-term agreement with Toyota Motor Sales, USA to provide satellite-delivered data services for Toyota, Lexus, and Scion vehicles. In addition, Toyota will offer factory-installed XM radios in Toyota and Lexus vehicles in 2006, and expand the number of models offering XM as a dealer-installed option in 2005.

[candlebougie]

28-Dec-04
08:05 SIRI Sirius Satellite: Too much hype and expectations on Stern, risks to a capital raise - BofA (8.10 )

Banc of America reiterates their Sell on SIRI, although they raises their tgt to $5.25 from $3.68. Firm prefers XMSR and raises their tgt to $44 from $37, suggesting to buy it for growth and mgmt focus on OCF. While they see strong sub growth for SIRI as well, they cite too much hype and expectations on Stern, risks to a capital raise in the near-term, and uncertainty on timing of OCF profitability as reasons for their Sell rating. For overall satellite radio industry, firm sees strong growth ahead and raises their FCF growth rate est to 4% from 3.5%. Firm says SIRI continues to gain retail share, but XMSR`s portables are showing stronger than expected demand as well.

[seinfeld]

28.12.2004 20:42:
Sirius Satellite gegen XM Satellite eintauschen?

Die Banc of America hat heute ihre Verkaufsempfehlung für die Aktie von Sirius Satellite noch einmal bekräftigt. Zwar, so der zuständige Analyst, habe der Anbieter von Bezahl-Radioprogrammen mit dem Moderator Howard Stern einen echten amerikanischen Radiostar für sich verpflichten können. Am Markt sei über diesen Vertrag aber deutlich zuviel Aufhebens gemacht worden. Man dürfe nicht davon ausgehen, dass das Unternehmen in den nächsten Jahren die Gewinnzone erreichen werde.
Stattdessen wurde erneut der Kauf von Aktien des Konkurrenten XM Satellite Radio (Nachrichten) empfohlen. Das Unternehmen habe einige Kooperationen mit Automobilherstellern abgeschlossen, so dass die entsprechenden Receiver in vielen neuen Auto-Modellen gleich mitgeliefert werden können. Hier seien bei den Abonnenten deutliche Zuwachsraten zu erwarten. Obwohl Sirius nach Kunden derzeit deutlich kleiner ist als XM, sei ersteres Unternehmen am Markt mit 9,8 und letzteres nur mit 7,94 Milliarden Dollar bewertet.

Gruß Seinfeld

[seinfeld]

XM Satellite Radio "outperform"

Tuesday, January 04, 2005 9:10:51 AM ET
Barrington Research


NEW YORK, January 4 (newratings.com) – Analyst James C Goss of Barrington Research
issues an "outperform" rating on XM Satellite Radio (XMSR.NAS). The target price is set to $52.

Gruß Seinfeld

[seinfeld]

10.01.2005 15:18:

XM SATELLITE - Rückfall...

...auf den maßgebenden Aufwärtstrend.

XM Satellite Radio (Nachrichten) (XMSR) : 32,75$ (-3,93%)

Diagnose: XM SATELLITE stieg bis Ende 2003 innerhalb einer sehr starken Rally an und erreichte im Hoch den Widerstand bei 30,00$. Unterhalb dieses Widerstands, oberhalb des Key-Levels bei 20,70$ konsolidierte der Kurs innerhalb einer Tradingrange und bildete bis August 2004 ein symmetrisches Dreieck aus. Dieses konnte im starken Marktumfeld nach oben aufgelöst werden und hebelte die Aktie auf ein neues Hoch. Nach dem Erreichen von 40,89$ setzte in den Vorwochen eine Konsolidierung ein, die sich vorbörslich der mittelfristigen Aufwärtstrendlinie bei aktuell 32,00$ nähert. Weiteren Support bietet das Niveau um 30,00$.

Prognose: Kurzfristig präsentiert sich XMSR bereits überverkauft, so dass auf der mittelfristig maßgebenden Aufwärtstrendlinie eine Gegenreaktion wahrscheinlich ist. Kann diese gehalten werden, bleibt das übergeordnet bullische Szenario weiter intakt, so dass mittelfristig 47,00$ erreicht werden können. Das bullische Szenario kippt bei einem Rückfall unter 30,00$ auf Wochenschlussbasis. Bei dem in diesem Fall erfolgten Rückfall in die Tradingrange sind auch Kurse im Bereich 20,70$ mittelfristig nicht auszuschließen.


Gruß Seinfeld

[candlebougie]

ok, mit dem bisschen Geld, dass ich mit SIRI gewonnen habe, sind noch ein paar XM-Anteile in mein Depot geflossen.

bei Sirius fehlt mir einfach die Phantasie, während XM deutlich mehr Potential für Überraschungen bietet ("Skypod"-Trademark = Apple-Kooperation???, Mp3/Sat-Radio-Player, ConnectandPlay-Home-Audio-Produkte, MLB-Werbekampagne mit viel Publicity)

[seinfeld]

FinanzNachrichten.de, 18.01.2005 18:07:00

XM Satellite meldet Zukauf


XM Satellite Radio, der US-weit größte Anbieter von Satelliten-Radioprogrammen, hat die Übernahme von Effanel Music bekannt gegeben. Effanel hat sich auf die Live-Übertragung von Mitschnitten von Musik- und Sportereignissen spezialisiert. Wie XM Satellite darlegen ließ, spielten Live-Übetragungen von weltweiten Events eine immer größere Rolle in der Programmgestaltung des Anbieters. Die finanziellen Rahmendaten des Aufkaufs wurden nicht veröffentlicht.
Die Aktie des Bezahl-Radioanbieters verbessert sich an der Nasdaq aktuell um 0,25 Prozent auf 35,76 Dollar.



© BörseGo


Gruß Seinfeld

[seinfeld]

26.01.2005 20:31:
Sirius Sat.: Keine Fusion mit XM Satellite

Mel Karmazin, CEO des Satellitenradio-Anbieters Sirius Satellite (Nachrichten), hat heute Gerüchte über einen Zusammenschluss mit dem Konkurrenten XM Satellite Radio (Nachrichten) zurückgewiesen. Wie Karmazin ausführte, gebe es keinerlei Kontakte zwischen ihm und der Führungsriege von XM Satellite. Die New York Times hatte zuvor berichtet, die beiden Unternehmen befänden sich in frühen Fusionsverhandlungen.
Karmazin widersprach auch Medien-Berichten, wonach sein Unternehmen den Star-Moderator Howard Stern vorzeitig aus seinem bestehenden Vertrag bei Viacom herauskaufen werde. Es bleibe vielmehr dabei, dass Stern dem Unternehmen erst ab Januar 2006 zur Verfügung stehe.

Sirius Satellite geben im Anschluss an ihr heutiges Zahlenwerk (Börse-Go berichtete) aktuell 1,44 Prozent auf 6,15 Dollar ab. XM Satellite Radio verbilligen sich um 0,43 Prozent auf 32,55 Dollar.

Gruß Seinfeld

[candlebougie]

da komme ich aus dem Urlaub zurück und sehe diese Kurse - übel.

Vollkommen übertrieben diese Korrektur (aus meiner Sicht), wahrscheinlich Angst vor dem im Februar anstehenden Satellitenstart.

Am Freitag habe ich nochmal ein wenig nachgekauft....

[seinfeld]

Tztz ... wie kannst Du denn auch in Urlaub fahren ... also wirklich

Hier noch eine eher schlechte Einschätzung:

31.01.2005 15:31:
XM Satellite: Bald böse Überraschung?

J.P. Morgan haben die Aktie von XM Satellite Radio (Nachrichten) von “overweight” auf “neutral” abgestuft. Die Verlustprognose für das vierte Quartal wurde von 71 auf 83 Cents pro Aktie erhöht.

Wie der zuständige Analyst ausführte, dürften die Programm- und Kundenakquisitionskosten des Satellitenradio-Betreibers höher als am Markt erwartet liegen. Auch die aktuelle Bewertung sei nicht von Pappe. Die Aktie habe sich im vergangenen Jahr weit besser als der Gesamtmarkt entwickelt. Dies mache sie für die Zukunft aber relativ anfällig.

(Quelle Börse Go)

Gruß Seinfeld

[candlebougie]

stimmt, war eine schlechte Idee dass mit dem Urlaub...

so hoch wie derzeit war ich noch nie in XM investiert - Kurse wie gestern um 31$ sind ein wunderbares Geschenk - vorrausgesetzt der Start der Rakete samt Satellite läuft planmäßig... (wahrscheinlich Ende Februar)

dieser Analystenreport ist lächerlich - diese "Warnung" hätten sie ausgeben sollen, als die Aktie über 40 Dollar notierte und nicht jetzt.

Mit die einzigen Analysten, die XM richtig einschätzen sind Legg Mason:

Legg Mason:

* Before the market open this morning, XM announced that it has signed a
long-term deal (5+ years) to supply Nissan North America with data and
telematics services.
* While the agreement is not technically exclusive, it is practically
exclusive (similar to the Honda deal) and we believe it will be difficult
for Sirius to expand its relationship with Nissan going forward.
* While no start date has been set, we believe the first Nissan vehicles with
integrated data and telematics services will be offered for the 2007 model
year.
* As a reminder, XM and Sirius both currently have relationships with Nissan
for factory or dealer installs on various models, but we believe these
agreements expire in 2007.
* Nissan was the 6th largest OEM by vehicle sales in 2004 (985,000) and was
by far the fastest growing at 24% vs. 1.4% for the industry.
* Regarding other OEMs, we believe XM is now working on signing similar deals
with Hyundai (7th largest OEM with 4% share) and Volkswagen (8th largest
with 2% share). We also point out that Sirius` exclusive deals with Ford
and DaimlerChrysler expire in 2007 (October 7 for Ford and May 12 for DC);
we believe XM will try to acquire that business, but think it will be an uphill battle, particularly with DC, due to Sirius` factory relationship
with these OEMs.
* With the Nissan deal, the 2004 U.S. vehicle market share of XM`s
practically exclusive auto partners increases from 48% to 54% vs. 36% for
Sirius. We also point out that XM`s auto partners as a group grew 4% in
2004 while Sirius` fell 1%.
* XM Radio remains our Legg Mason Select List compelling idea; our $42 target
price is based on a 15-year DCF model assuming a 15% cost of equity and 6%
terminal growth. The stock has fallen 22% since December and its Enterprise
Value of $9.8B is 3% below that of Sirius despite having 73% subscriber
market share, more profitable subscribers, and an 18 percentage point lead
in exclusive auto market share.

[candlebougie]

da trennt sich die Spreu vom Weizen (unter den Analysten ):

Banc of America mit 44 Dollar Kursziel und exzellentem Bericht:

* Thoughts for the call. 1) Are there any new marketing/ad plans for 2005 - XM
has a marquee talent lineup (from Tom Petty to Snoop Dog) but we believe they
need to change brand marketing, 2) timing of XM3 Sat launch, 3) new
product/service development timeline, 4) hardware cost strategy, and 5) more
clarity on the new Toyota/Nissan relationships.

* Tweaking our model: The company clearly spent money in 4Q as planned, on
increased marketing. Our current model is a tad light on the expenses- we are
revising our 4Q CPGA to $98 from $92. New EBITDA estimate is ($108.9)M from
($103.4)M. EPS is $0.25 lower to $(1.03) due to a one-time $45M charge on
early take out of $98M of 14% notes.

* XM subs are added at a economic profit - even with our new CPGA. Back of
envelope lifetime revenue (5 years) from a 4Q sub is ~$540, less cost to
acquire a sub @ $98 + current lifetime operating costs of ~$369 = $73 per sub
profit.

* Relative valuation still favors XM -and at current levels, we would be
buyers. Market leader XM trades at a ~40% discount to SIRI with 3x the subs -
an EV/2006E Subscribers of ~$1,275 vs. SIRI at ~$2,170.

* Valuation and Target Price Analysis: Target price of $44 based on our tax-
adjusted DCF, 31x Price /Forward FCF and NPV/Sub.

Sector View: Earlier it was structural, now broadcasters face cyclical
pressures. Be selective; look for true growth (ROIA, XMSR) or value with FCF
rewards (CCU).

XM Has the Edge in Sub Profitability - This Seems Underappreciated

Investors need to focus on per sub profitability. Investors currently seem to
be simply focused on subscriber numbers and growth. However, at some point, we
believe, investors need to start focusing on the long-term profitability of
subs. Our calculations in Figure 1 below show that current subs are currently
economically profitable for XM, but nor for SIRI ($6.32, Sell, Target Price:
$5.25).

Back of the envelope lifetime revenue (5 years) from a 4Q sub generates ~$540,
less cost to acquire a sub @ ~$98 + current lifetime operating costs of another
~$369 = $73 per sub profit. In contrast, SIRI generates ~$600 in revenue, less
cost to acquire a sub @ ~$276 + current lifetime operating costs of another
~$519 = a loss of $195 per sub. We believe that SIRI needs to demonstrate that
it can create profitable subs.

XM3 Satellite Launch on Track for 1Q05

We believe the XM3 satellite launch is on schedule for launch by Sea Launch in
February. In our view Sea Launch has a strong track-record with 12 out of 13
successful launches. The only unsuccessful launch was ICO Global
Communications` satellite in March 2000. We therefore have reason to believe
that XM`s satellite risk launch is minimal. Additionally, the company has
secured launch insurance for XM3 for an undisclosed amount and terms.

After the launch of XM-3, the two existing satellites XM1 and XM2 will be
sharing a slot and performing the broadcast function of a single satellite,
therefore extending their usable life. The satellites will not be in a power
saving mode.

XM Continues to Execute Strongly on the OEM Front

Nissan data-services deal helps longer-term market-share lead. We expect OEMs
to assume greater importance going forward. XM has now tied up (longer-term
agreements in place) ~56% share of OEM factory installations (GM, Honda,
Toyota, Nissan and others) vs. 44% for SIRI (Ford, Daimler-Chrysler, BMW and
others). We expect XM`s auto partners to increase their domestic auto share,
and increase to 59% in 2008 vs. SIRI at 41%. (The table below assumes all cars
produced will be equipped with satellite radio - clearly not the case).

Relative Valuation Still Favors XM

Satellite radio stocks seeing the expected volatility in 1Q. Remember, in our
note dated December 28, 2004 we thought that the satellite stocks would see
heightened volatility in 1Q05, as major positive catalysts (besides upside to
sub estimates) were now in the past. Last year as these names declined ~11% in
January. History did repeat itself - XM and SIRI have declined ~15% in the last
four weeks vs. a ~5% decline in the NASDAQ.

However, going forward, we believe that the current XM stock price offers an
attractive entry point for investors. While clearly volatility might increase,
as we approach the launch of the XM3 satellite, we believe that XM in the low-
$30s is the right place to be buying or increasing positions.

Relative valuation still favors XM -and at current levels, we would be buying
the stock. Market leader XM trades at a ~40% discount to SIRI with 3x the subs
- an EV/2006E Subscribers of ~$1,275 vs. SIRI at ~$2,170. We favor XM due to
OEM lead, lower subscriber acquisition costs in the event of a hardware pricing
war (and funded for such an event) and OCF visibility in 2006. Additionally
every XM sub that is currently added actually creates economic value, as
opposed to SIRI .

[candlebougie]

ress Release Source: XM Satellite Radio

XM Secures Title Sponsorship of XM Satellite Radio Indy 200 in Phoenix as Part of Multi-Year Marketing Agreement With International Speedway Corporation
Tuesday February 8, 8:01 am ET
XM Will Have On-Site Presence at 25 Major Racing Events at ISC Venues Across U.S. in 2005

WASHINGTON, Feb. 8 /PRNewswire-FirstCall/ -- XM Satellite Radio, the nation`s leading provider of satellite radio with more than 3.2 million subscribers, will serve as the title sponsor of the XM Satellite Radio Indy 200 at the Phoenix International Raceway on March 19. The Indy Racing League (IRL) IndyCar Series event, which will air nationwide on ABC television at 3:00 pm ET, is the second race in the series` tenth anniversary season.

* (Logo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )
* (Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20050208/DCTU003 )

The sponsorship of the XM Satellite Radio Indy 200 is part of a multi-year marketing agreement with International Speedway Corporation (ISC), a major promoter of motorsports activities in the United States. Under the agreement, XM will have an on-site presence this year at 25 racing events sanctioned by IRL IndyCar Series and NASCAR at ten ISC tracks, including the Daytona International Speedway, California Speedway, and Richmond International Raceway.

"Racing fans are passionate about automobiles and XM Satellite Radio. This agreement with ISC allows us to further our commitment to motorsports and promote our strategic partnerships with auto manufacturers such as Honda, General Motors, Toyota, and Nissan," said Hugh Panero, President and CEO of XM Satellite Radio.

"As the title sponsor of the XM Satellite Radio Indy 200, our company is proud to be associated with one of the premier IRL racing events of the year," Panero said. "This agreement gives XM a major presence at NASCAR and IRL IndyCar Series events at ISC tracks all over the country. XM has been the exclusive broadcaster of NASCAR Radio since our inception, and this agreement expands our outreach to NASCAR fans at the tracks where they experience the excitement of the sport firsthand."

Paul Phipps, Vice President and CMO of International Speedway Corporation, said, "Adding title sponsorship of the Phoenix IRL IndyCar Series race and presence at our NASCAR events will further weave the XM brand into the lifestyle of millions of loyal fans who attend our events every year."

"We`re pleased to welcome XM Satellite Radio to our family of race sponsors," said Phoenix International Speedway President Bryan R. Sperber. "As America`s leading provider of satellite radio, XM is transforming audio entertainment through technology. And of course, high technology is synonymous with the Indy Racing League and is the cornerstone of our sport. We are delighted that XM has chosen to take advantage of the power of Indy Racing and the reach of PIR to fuel continued momentum in building their brand and company."

XM is the leading provider of live sports in the satellite radio industry. In addition to being the exclusive satellite radio service of NASCAR, XM is the official satellite radio network of Major League Baseball and the official satellite radio service of the Atlantic Coast Conference (ACC), Big Ten, and Pac-10 college sports conferences.

[candlebougie]

Press Release Source: NAVTEQ

Cadillac CTS With Real-Time XM Satellite Traffic, Powered By NAVTEQ Traffic Arrives In Dealerships This Month
Tuesday February 8, 6:45 pm ET

CHICAGO, Feb. 8 /PRNewswire-FirstCall/ -- Starting this month, Cadillac will begin offering XM NavTraffic; the nation`s first real-time satellite traffic information service for vehicle navigation systems. First available on the CTS, the XM NavTraffic system will provide continuously-updated traffic information in a selected city. The system will come standard in cars equipped with the DVD navigation feature.

This new technology, offered exclusively by XM Satellite Radio (Nasdaq: XMSR - News), is fully integrated with the vehicle`s on-board GPS navigation system to display current information about traffic incidents and average traffic speed along specific roadways. A driver can enter a destination into the navigation system, and then, aided by a color-coded display, obtain instant traffic data on the preferred route. The driver can:

-- See how fast traffic is moving on the route
-- See on-screen symbols that identify accidents, construction and road
congestion
-- Choose an alternate route to avoid traffic incidents and reach the
destination faster



XM NavTraffic is powered by NAVTEQ Traffic(TM), a product from NAVTEQ, the leading global provider of digital map data for vehicle navigation systems. NAVTEQ Traffic quality checks and aggregates planned and unplanned incident data from multiple sources across the country, including the leading commercial traffic data providers, government departments of transportation, police and emergency services, road sensors, cameras and airborne reports. Once received, the information is then merged with NAVTEQ maps and continuously broadcast via XM`s network of satellites and ground-based repeaters, ensuring that the latest information is available to the driver.

Purchasers of a 2005 CTS equipped with an optional DVD navigation system will receive the first three months of XM Satellite Radio and the XM NavTraffic service free. Following the trial period, drivers can subscribe to XM Satellite Radio or the XM NavTraffic service for $9.99/month. Customers can subscribe to both for only $13.98/month.

Cadillac is the luxury division of General Motors Corp. (NYSE: GM - News) and produces vehicles such as the STS performance sedan, the XLR convertible roadster, the SRX midsize utility, and the CTS entry-level sedan. In addition to selling the popular DeVille nameplate, Cadillac also sells the popular the Escalade, Escalade ESV and Escalade EXT. More information on Cadillac and its products can be found on http://www.cadillac.com or http://media.gm.com/division/cadillac .

[candlebougie]

Start des dritten Satellite vorraussichtlich am 16.Februar.

http://www.sea-launch.com/current_launch.htm

[candlebougie]

Press Release Source: AirTran Airways

AirTran Airways and XM Satellite Radio Launch New Inflight Service With Rocket Man Elton John
Wednesday February 9, 7:02 am ET

LAS VEGAS, Feb. 9 /PRNewswire-FirstCall/ -- AirTran Airways (NYSE: AAI - News), a subsidiary of AirTran Holdings, Inc., and XM Satellite Radio (Nasdaq: XMSR - News), yesterday celebrated the official roll out of AirTran Airways` new complimentary XM Satellite Radio service on its flights at Caesar`s Palace in Las Vegas, Nev. To mark this new age of in-flight entertainment for commercial aviation, music legend Elton John was on hand to unveil a commemorative aircraft livery that will adorn a select number of AirTran Airways` planes.

* (Photo: http://www.newscom.com/cgi-bin/prnh/20050209/NYW008-a )
* (Photo: http://www.newscom.com/cgi-bin/prnh/20050209/NYW008-b )

Upon seeing the one-of-a-kind design featuring his image, Elton John commented, "This plane looks fantastic."

More than 20 of AirTran Airways` Boeing 717s will feature a livery (wrap) showcasing a colorful rendering of Elton John sporting a smile and, as always, a pair of fashionable glasses. Elton John`s 717-sized portrait is comparable in dimensions to the head of the Statue of Liberty.

"AirTran Airways wanted to introduce XM Satellite Radio, a world-class audio entertainment service, by teaming up with a world-class musician. Our passengers can now listen to Elton John and thousands of other musicians during their flight, thanks to AirTran Airways and XM Satellite Radio`s innovative programming," said AirTran Airways president and chief operating officer Robert L. Fornaro.

The rare livery alteration is part of AirTran Airways` musical celebration of the company`s status as the first airline in the world to offer satellite radio. AirTran Airways` XM service provides more than 100 channels of digital-quality, commercial-free music, news, sports, talk and entertainment to passengers, who may either bring their personal headsets or purchase headsets from the airline for a nominal charge.

"The partnership between XM and AirTran Airways will take in-flight entertainment to new heights," said XM Satellite Radio President and CEO Hugh Panero. "In the coming months, AirTran Airways passengers will be joining the millions of XM subscribers who already enjoy the commercial-free music and cutting-edge comedy, plus news, talk, sports and entertainment programming that has made XM America`s number one satellite radio service."

AirTran Airways currently has three planes with XM Satellite Radio service and plans to have XM installed on 20 planes by the end of February. Installation on the remainder of AirTran Airways` fleet will continue through summer 2005.

"AirTran Airways prides itself on its association with great names; none more impressive than one of the world`s greatest musicians and the nation`s top satellite radio provider. Our partnership with XM Satellite Radio gives us a competitive edge when it comes to in-flight entertainment technologies," remarked Fornaro. "To be the first airline offering satellite radio shows our dedication to providing a world-class in-flight experience for our passengers, and our vision as a growing low-cost provider."

The livery unveiling took place on opening night of Elton John`s "Red Piano" musical extravaganza, which will run at Caesars` Coliseum throughout February. As part of the ceremony, Fornaro presented Elton John with a $50,000 check on behalf of AirTran Airways for the Elton John AIDS Foundation.

[candlebougie]

Event Details
Parent Title Q4 2004 XM Satellite Radio Earnings Release
Parent Date 02/10/05
Title Q4 2004 XM Satellite Radio Earnings Conference Call
Date and Time Thursday, February 10, 2005 10:00 a.m. ET
Duration 1 Hour

http://phx.corporate-ir.net/phoenix.zhtml?c=115922&p=irol-ev…

[candlebougie]

Press Release Source: XM Satellite Radio Holdings Inc.

XM Satellite Radio Holdings Inc. Announces Fourth Quarter and Full Year 2004 Results
Thursday February 10, 8:32 am ET
XM Adds Over 1.8 Million Net Subscribers In 2004, Ending Year with Over 3.2 Million Subscribers; 2004 Revenue Hit $244 Million, Up 166 Percent over 2003

# WASHINGTON, Feb. 10 /PRNewswire-FirstCall/ -- XM Satellite Radio Holdings Inc. (Nasdaq: XMSR - News) today reported financial and operating results for the fourth quarter and full year ended December 31, 2004. XM added 1.8 million net subscribers in 2004, an increase of 137 percent over 2003, and finished the year with 3,229,124 subscribers, exceeding 2004 year-end subscriber guidance of 3.1 million by more than 125,000 subscribers.(Logo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )

During the fourth quarter 2004, XM recorded net subscriber additions of 713,101, representing a 66 percent increase over the 430,580 subscribers added in the fourth quarter 2003. Contributing to XM`s rapid subscriber growth was a successful 2004 holiday shopping season, with more than 240,000 subscribers activating service during the last eight days of December, including over 50,000 on Christmas day.

"XM had an outstanding 2004," said XM President and CEO Hugh Panero. "XM ended the year with more than 3.2 million subscribers, extending our lead over the competition to two million subscribers compared to one million a year ago; Toyota selected XM to provide factory-installed satellite radio and data services in Toyota and Lexus vehicles; XM introduced the MyFi, the first portable, wearable satellite radio and signed a deal with Major League Baseball to broadcast games on XM beginning this spring." Panero continued, "We plan to build on this momentum and execution in 2005 and end the year with 5.5 million subscribers, furthering our market leadership position."

Fourth Quarter and Full-Year Financial and Operating Results

For the fourth quarter 2004, XM reported quarterly revenue of $83.1 million, an increase of 148 percent over the $33.5 million reported in fourth quarter 2003. XM`s full year 2004 revenue was $244.4 million, an increase of 166 percent over the $91.8 million reported in 2003. These quarterly and annual increases in revenue were driven by significant subscriber growth.

XM`s net loss for the fourth quarter 2004 was ($188.2) million as compared to ($162.9) million in fourth quarter 2003. For the full year 2004, XM`s net loss was ($642.4) million, compared to ($584.5) million in 2003, primarily reflecting increased de-leveraging expenses.

XM reported an EBITDA loss of ($139.7) million for the fourth quarter 2004, including $41.6 million in de-leveraging charges, compared to ($95.5) million for the fourth quarter 2003, which included $4.6 million in de-leveraging charges. For the full year 2004, XM reported an EBITDA loss of ($388.4) million, including $76.6 million in de-leveraging charges, compared to ($318.9) million for the full year of 2003, which included $24.7 million in de-leveraging charges.

Per Unit Cost to Acquire Each New Subscriber Improves to $100

The full year 2004 Cost Per Gross Addition (CPGA) was $100, an improvement of 27 percent compared to the full year 2003 CPGA of $137 and better than previous 2004 guidance of $110. XM`s CPGA represents the fully-loaded cost to acquire each new subscriber, including Subscriber Acquisition Cost (SAC) of $62 in 2004, plus advertising and marketing expenses.

XM Adds Major League Baseball

XM signed a long-term agreement with Major League Baseball (MLB) to broadcast MLB games nationwide beginning with the 2005 season. Later this month, XM will launch the nation`s first 24-hour MLB Radio channel called "Home Plate" featuring baseball news, call-in shows, classic games, and other exclusive content. XM has assembled an all-star team of on-air talent for "Home Plate," including baseball veterans Rob Dibble, Kevin Kennedy and Larry Bowa.

XM Named "2004 Radio Service of the Year" and Adds New Content

XM Radio was named the "2004 Radio Service of the Year" at the Billboard Digital Entertainment Awards. In 2004 XM also premiered new programming, including "The Bob Edwards Show," which anchors XM Radio`s new public radio channel XMPR; the "Opie & Anthony Show;" Starbucks` Hear Music Channel; and college football and basketball games from the ACC, Big Ten and Pac-10 conferences. XM also launched its XM Radio Online Service.

In January, XM announced new talk programming, including national radio personalities Dr. Laura Schlesinger and G. Gordon Liddy. Both programs are set to debut in mid-February. These talk radio stars join XM`s stellar lineup of talk talent that includes Sean Hannity, Al Franken, Michael Reagan, Alan Colmes and Michael Savage.

XM Partners with Toyota and Nissan and Expands Other OEM Relationships

In 2004, Toyota selected XM as its supplier for satellite delivered data services for Toyota, Lexus and Scion vehicles. In addition, Toyota will offer XM radios, and XM alone, as a factory-installed feature in Toyota and Lexus vehicles in 2006. Toyota will expand the factory-installed availability of XM`s satellite radio and data services to additional Toyota and Lexus models in the future.

In January 2005, Nissan North America, Inc. chose XM to supply satellite-delivered data and telematics services, such as in-vehicle messaging and XM NavTraffic, based on XM`s superior technology. Nissan currently offers XM radios as an accessory option on all 18 models of Nissan and Infiniti vehicles. XM is now the exclusive or preferred provider for data services with General Motors, Honda, Toyota and Nissan, representing approximately 55 percent of the OEM industry.

General Motors achieved a major milestone in December 2004, signing up its 1 millionth XM subscriber. During the year, GM added Saab to its lineup of vehicles featuring XM and recently announced the availability of XM NavTraffic on certain Cadillac CTS models. In 2005, GM plans to produce more than 1.5 million XM-equipped vehicles. Honda is also aggressively increasing its XM offerings and plans to build more than 400,000 XM-equipped vehicles for the 2005 model year, up from 200,000 vehicles in the 2004 model year. In 2005, Honda is offering XM Radio as factory-installed equipment in twelve models including the all-new and critically acclaimed Honda Accord Hybrid and Ridgeline, its first entry into the truck market.

XM Introduces First Portable, Wearable Satellite Radio

In December 2004, XM introduced the MyFi, the world`s first portable, wearable satellite radio. The MyFi is the first of a new product line called XM2go. Two new XM2go products will be introduced in 2005. Pioneer Electronics will introduce its "Airware" XM2go satellite radio this spring and Giant International will launch an XM2go product under the all-new "Tao" consumer brand. More than 275,000 XM2go devices have been manufactured to date, and that number is expected to climb in 2005 as Delphi, Pioneer and Giant increase production to meet strong consumer demand.

XM Unveils "Connect-and-Play" Technology

At the 2005 Consumer Electronics Show, XM debuted its "Connect-and-Play" technology. This revolutionary technology is designed to integrate XM into a broad range of home electronic and entertainment products. For a very low cost, consumer electronics manufacturers can add the "Connect-and-Play" chip to their consumer electronics products, making any device XM Ready. The new "Connect-and-Play" integrated antenna/receiver, expected to have an MSRP of $49.99, enables any of these XM Ready devices to receive XM without the need for any additional hardware or installation costs. XM has developed alliances with a number of major consumer electronics manufacturers to launch XM Ready products with the "Connect-and-Play" technology in 2005 and 2006. The first "Connect-and-Play" product from Eton will be available in 60 days.

XM Improves Liquidity and Strengthens Balance Sheet

As of December 31, 2004, XM`s total liquidity position was $853 million including cash, cash equivalents and capacity under the Revolving Credit and Equity Facilities with GM. In January, XM added $100 million in gross proceeds through an over-allotment option on the sale of 1.75 percent Convertible Notes. During 2004, XM was able to opportunistically de-lever its balance sheet and eliminate over $900 million in future interest, dividends, accretion and principal payments. In December 2004, XM was also added to the NASDAQ-100 Index, which lists many of the leading technology companies in the world.

About XM Satellite Radio

XM Satellite Radio (Nasdaq: XMSR - News) is America`s number one satellite radio service with more than 3.2 million subscribers. Broadcasting live daily from studios in Washington, DC, New York City and Nashville at the Country Music Hall of Fame, XM`s 2005 lineup includes more than 130 digital channels of choice from coast to coast: 68 one-hundred-percent commercial-free music channels, featuring critically-acclaimed original programming, concerts, and diverse musical genres ranging from hip hop to opera, classical to country, bluegrass to blues; more than 40 channels of premier sports, talk, comedy, children`s and entertainment programming; and 21 channels of the most advanced traffic and weather information for major metropolitan areas nationwide. XM was named Best Radio Service at the 2004 Billboard Digital Entertainment Awards. Popular Science recently chose XM products for two prestigious "Best of What`s New 2004" Awards. As the Official Satellite Radio Network for Major League Baseball (MLB) and the Exclusive Satellite Radio Service for NASCAR, as well as the Official Satellite Radio Service for ACC, PAC-10 and Big-10 collegiate football and basketball, XM Satellite Radio is the industry leader in sports radio programming, offering thousands of live sporting events each year.

[candlebougie]

Smith Barney: REPORTS STRONG IN-LINE RESULTS; RETAIL MKT SH

XMSR: FLASH: REPORTS STRONG IN-LINE RESULTS; RETAIL MKT SHARE ABOVE EXPECTATION

February 10, 2005

SUMMARY

* XM reported strong 4Q:04 results that were
generally in line with recent expectations, with
4Q:04 subscriber net additions of 713k, as
previously announced. As a reminder, XM previously
reported 2004 year-end subscribers of 3.23 million,
higher than our estimate of 3.11 million.
* Marketing spending was somewhat higher than
expected, reflecting the higher level of subscriber
addition activity and higher costs per gross
addition during the quarter. XM`s market share in
the retail channel was well above street
expectations, suggesting that XM continues to
compete very well against Sirius in that channel.
* Subscription revenue guidance was above our est.
($480 mil. vs. our $438 mil. est.), while EBITDA
loss guidance of $(360) mil. was below our $(293)
mil. est. XM reiterated 2005 year-end sub guidance
of 5.5 mil., vs. our 5.3 mil. est.
* We maintain our 2H rating, $43 price target.

DETAILS:

(1) SUBSCRIBERS IN LINE WITH PRE-ANNOUNCEMENT; AFTERMARKET
PERFORMANCE VERY STRONG: XM added 713K net adds in 4Q:04 to end the year
with 3.23 million subs. Aftermarket subscriber additions were 491K, much
higher than our 353K estimate, while OEM net adds were 222k, compared with our
estimate of 245K net adds. This suggests that XM captured 58.5% of aftermarket
subscriber additions in the quarter. NPD data had suggested that Sirius and XM
split retail market share during the quarter. We also note that OEM
Promotional Subs net adds at 3K were lower than our 23K estimate. We believe
that this demonstrates improvement in the conversion rate of OEM Promotional
subscribers to OEM paying subscribers.

We believe XM will continue to maintain its lead over Sirius in the OEM
channel, having added Toyota and Nissan (Nissan is currently a data service
partner) as its OEM partners in the past two months (GM and Honda are XM`s
other major OEM partners, while Sirius counts Ford, Chrysler and BMW as its OEM
partners).

(2) SAC PER GROSS ADD and CPGA (COST PER GROSS ADD) HIGHER THAN
EXPECTED: 4Q:04 Subscriber Acquisition costs (SAC) per gross add came in at
$64 (vs 3Q:04`s SAC of $57), which was higher than our $59 estimate. 4Q:04
CPGA (which includes SAC and acquisition-related marketing costs) was $104 (vs.
3Q:04`s CPGA of $89), 4% higher than our estimate of $100. Full year 2004 SAC
per gross add and CPGA were $62 and $100, modestly higher than our estimates of
$59 and $99, respectively.

(3) Revenue and EBITDA: 4Q:04 revenue increased 148% to $83.1 million, higher
than our estimate of $81.9 million, due to higher subscriber additions (as
noted above) and higher ARPU ($8.74 vs our estimate of $8.57). 4Q:04 reported
EBITDA loss of $(98.6) million (excluding debt retirement charges of $41.6
million) was below our estimate of ($90) million, reflecting the higher
subscriber acquisition costs.

(4) 2005 Guidance: The company reiterated 2005 subscriber guidance of 5.5
million vs. our 5.3 million estimate. Subscription revenue guidance of $480
million was well above our $453 million estimate, while EBITDA guidance of a
$(360) million loss, was worse than our $(293) million estimate. We expect to
have more information on 2005 spending initiatives after speaking to company
management.

We continue to rate the shares 2H, based on today`s intraday price. Our price
target remains $43 per share.

[candlebougie]

Ok, hier kommen die neuen Analysteneinschätzungen von heute morgen:

Stifel Nicolaus
XMSR: Catalysts On The Horizon; Upgrading to Market Outperform
Investment Summary

We see positive catalysts on the horizon: We continue to think news flow is what
drives this stock. We see four meaningfully positive catalysts over the next
12-18 months for XMSR:
* First, we believe XMSR shares will rise next week upon a successful
satellite launch. While the satellite could blow-up, Boeing`s historical
success rate is 94% (15 failures out of 311 since 1960). Thus, we
recommend buying ahead, especially since upon failure, there is ample time
for a re-launch without service interruption. Also, the $300MM cost
(ex-insurance proceeds) of replacement isn`t that relevant to XMSR`s
$10.6B EV.

* Second, we believe XMSR has set the bar low as far as subscriber guidance
goes, likely allowing for the company to raise subscriber guidance later
in 2005. See page 2 for our logic.

* Third, we believe that XMSR will announce at least one partnership with a
major device manufacturer (either MP3 or cell phone) before year-end,
possibly around the timing of XMSR`s generation 4 chipset (4Q). Such an
announcement could change investor`s perception about the longer-term size
of the satellite radio market.

* Fourth, consistent with guidance, we expect XMSR will turn free cash flow
positive in late 2006 - our experience is that stocks make the greatest
gains just before going cash flow positive, not after (ex: cable up in
2003, down in 2004).

Upgrading to Market Outperform and initiating a $40 target:

[candlebougie]

SG Cowen

XMSR ($32) — Q4 Results: Another Solid Quarter, Almost All Metrics Ahead of Expectations

XM reported another good quarter of solid operations and consistent outperformance. Virtually all metrics beat ests showing strong improvements across the board. Slightly higher-than-expected CPGA still came in-line with guidance. With the holiday season now gone, we look for continued sub growth and roll out of new products and services to support stock appreciation thru the year. Based on our DCF, we believe XM can outperform by 35%.

XM reported Q4 ARPU and revs of $8.74 and $83.1MM, above our $8.65 and $82.2MM ests. EBITDA of ($98.6MM) came in 7.4% better than our ($105.9MME) due primarily to a shift in an initial MLB payment from Q4 to Q1. EPS of ($0.93) came in 21.1% better than our ($1.13E) also due in part to the MLB payment shift, and a less-than-expected one-time charge related to debt retirement.

XM`s SAC of $64 met ours almost exactly. CPGA of $104 was approx 9.5% higher than our $95E, but brought FY CPGA of $100 in-line with guidance. We don`t expect significant improvements in `05 SAC and CPGA as we believe XM may reinvest savings from lower product costs into marketing and promotions. We are also raising CPGA levels through 2010 to reflect this reinvestment potential. XM`s reported Q4 churn of 1.2% came in flat with Q3. Calculated churn was 2.5%. We expect `05 calculated churn to improve slightly to 2.6% from FY:04 churn of 2.7%.

New products and services should define `05. XM`s previously announced XM2go line is expected to launch additional products by Q2. The current MyFi unit, the first in the XM2go line, continues to sell out with more than 275,000 units manufactured to date. We expect the new Pioneer and Tau units to debut with similar success, supported further by increased promotional activity. Connect-and-Play products, expected to roll out through 2006, will debut in April. We believe success in both home-based and mobile units may create unique rev model opportunities as users choose multiple form factors to experience XM.

2005 guidance reflects higher costs. XM previously guided to 5.5MM subs by YE05. On the call, XM guided to 2005 sub revs of $480MM and an EBITDA loss of ($360MM). Accordingly, we have increased ARPU to drive higher revs. We have also raised costs significantly. We expect the following increases in fixed costs: $15MM in G&A, $10MM in Satellite & Terr (XM3), $12MM in Broadcast & Ops, $10MM in R&D, $60MM for MLB, and $22MM for other new content. These increases come to almost $130MM. Variable costs will continue to rise with XM`s growing sub base.

Valuation at opportunity levels. XM has slipped almost 17% since the beginning of the year. We expected the stock to cool after the holidays, and believe current levels represent a good entry point. Our DCF ($43) implies 35% upside for XM.
—Watts/Parvez

[candlebougie]

Sanders Morris H

Perspective

Following our analysis of XM Satellite Radio`s Q4 earnings, released on
February 10, 2005, we are maintaining our Buy rating and $43 price target,
representing 35% upside from current levels.

The financial release revealed that XM enjoyed strong Q4 growth of 713,000
net new subscribers (up sequentially from 415,000 in Q3) while prudently
managing costs. Q4 fixed expenses of $41 million were flat sequentially,
indicating the potential economies of scale inherent in satellite-based
platforms. A key variable cost metric, Cost per Gross Addition (CPGA), came
in higher sequentially but was still a respectable $104. Relative to the
company`s only satellite radio competitor, Sirius Satellite Radio, XM
acquired 1.5x as many subs while spending half as much.

The earnings call offered XM management a forum to reiterate their strong
execution to date, and was also used to touch on the laundry list of
initiatives management believe tees them up for future success. We agree
that the pieces are in place to yield growing awareness, continued subscriber
growth, improving product features, declining hardware costs, increasing
partnership opportunities, and more auto manufacturer factory installations.

History repeats itself. History shows that there is seasonality in the
satellite radio business. During the past two years, investors enjoyed
strong gains leading into Christmas, only to see some of those gains erased
in January. For example, in January 2004, XM`s share price declined 12%.
Repeating this seasonality, XM declined 15% this year for the same reason,
that "the good news was out" regarding Christmas and the CES show. So
what`s next? Last year, XM appreciated over 25% between mid-February and
April on continued execution and anticipation of news from the spring auto
shows. This year, history could repeat itself if XM rises on continued
execution, anticipation of good Q1 sub numbers, the upcoming auto shows, and
the successful launch of XM-3 in mid February. We are maintaining our Buy
rating and $43 price target.

Key Investment Themes

Relative valuation - XM currently has a fully diluted market capitalization of
$10.1 billion, which is effectively equal to Sirius` $9.8 billion value. We
believe XM represents a better relative value considering XM`s relative
out-performance to date.

Low cash burn and comfortable cash war chest - XM`s Q4 cash burn from operations
was just $12 million, which is particularly compelling when considering that
Sirius spend $99 million in Q4. XM has a comfortable year-end cash balance of
$717 million.

Q4 Subscriber growth - In Q4, XM added 713,000 subscribers (in line with our
estimate of 718,000), to a total base of 3.2 million. This represents a strong
sequential improvement from the 415,000 net additions achieved in Q3.

New satellite being launched February 16 - XM management noted on the earnings
call that its newest satellite is being prepared for a February 16 launch. We
add the following perspective on risk. XM`s first two satellites, launched in
2001, had design flaws that necessitated replacement by 2008. The risks of
repeating the same errors are low, as the XM-3 replacement spacecraft has
already had its improved solar panel design successfully flown on numerous other
satellites.
During the last Sea-Launch, back in June 28, 2004, the Russian-built Block-DM
portion of the launcher shut down too soon. The root cause has been identified,
and a fix has been implemented and approved by the insurance company. This
section was successfully flown last fall and has a 97% success rate.
(Incidentally, despite the premature Block-DM shutdown during the June launch,
the satellite did reach its final orbit using onboard fuel).
Despite these two past anomalies, the probability of a successful launch is high
given that the satellite has had its new features flight proven, the Block DM
has a 97% success rate, and Sea-Launch hasn`t had a catastrophic failure since
2000. In addition, in the unlikely event of a catastrophic failure, there is
enough time to complete another replacement XM satellite before its need date.
Adoption on airlines - We understand that Jet Blue is now scheduled to
incorporate XM on all 90 planes it plans to have in service by the fall of 2005,
with initial service this summer. XM awareness and subscriber growth will
likely be boosted considering that this airline, with 25% capacity expansion
this year, is estimated to transport over 23 million passengers in 2005 alone.

Embedded chips - Embedding the XM connect-and-play chipset in a number of
devices, from home stereos to clock radios, and even to portable devices, is an
inexpensive way to seed the market with an estimated 300,000 XM-ready devices in
2005. Consumers will simply purchase a $49 antenna and receiver and plug it
into the side of the stereo component with the connect-and-play port to access
XM. The point is that consumer pricing will drop to about $50 in 2005 from
systems that cost $129 to $350 today. Reportedly, this will be available in 60
days, essentially early April.

Programming changes - In Q4, XM signed a long-term contract with Major League
Baseball (MLB). XM`s sports package also includes NASCAR, college football, and
basketball from ACC, Pac-10, and Big Ten. Additional unique programming
includes traffic in the top 21 cities, Opie and Anthony, Dr. Laura, and Bob
Edwards, formerly of NPR. In addition, an increasing number of live
performances are scheduled for 2005 by Phil Collins, Wynton Marsalis, Lenny
Kravitz and others, while other channels will be hosted by artists from Tom
Petty to Snoop Dogg.

Auto manufacturers - Honda and General Motors have made major commitments to XM.
In fact, both are on track to factory-install XM in nearly 30% of vehicles.
Because of XM`s strong product development efforts, XM was also able to recently
obtain commitments from Toyota/Lexus and Nissan/Infiniti. XM`s partners now
make up 54% of the new cars in the U.S, while Sirius` partners deliver 36%; 10%
of manufacturers are offering both.

XM`s handheld -XM launched its initial version of the handheld product in
December 2004, and is already working on an improved version, which presumably
will include more memory, color screen, longer battery life, and MP3 capability.

Canada - Within the next few months, XM expects licensing to be awarded that
allows satellite radio sales in Canada, a market 11% the size of the U.S.

Awareness is growing - XM management noted on the call that they estimate
awareness at 50%. They added that TV advertising is expensive, so they will do
modest print advertising and continue with radio advertising. Overall, their
plan for increased awareness is to go after niches such as MLB (starts this
spring), NASCAR (starts this spring), airlines (starts this summer and grows
through year-end), Starbucks (starts this winter), rental cars (started two
years ago with Avis and adds National and Alamo this year), and auto
manufacturers. General Motors and Honda/Acura will produce nearly two million
vehicles with XM installed this year, and will demonstrate XM in a projected
five to six million test drives. Toyota/Lexus and Nissan/Infiniti have
committed to getting on board in a bigger way in the coming next year.

Opportunities increasing - Both satellite firms have had recent exploratory
conversations with Steve Jobs at Apple regarding a potential device that is a
combination satellite radio and iPod. It appears this is not likely in the near
term as Apple wants to let its businesses play out a bit; however, these
conversations do reflect future potential, as well as other convergence
opportunities. One that comes to mind is the further exploitation of satellite
TV and satellite radio. EchoStar is already delivering Sirius to its 11 million
customers, but we don`t believe this is the end of the alliance. Also, DirecTV,
the former creator of XM Radio, is not actively integrating the service into
its TV service today, but we believe it is likely to in the future. In their
attempt to "touch the consumer," cable companies and telcos may also want to
cozy up to the two satellite radio operators to round out their subscription
offerings. The bottom line is that as satellite radio subs increase from 4.3
million today to an estimated 8 million at year-end, there will likely be
increasing opportunities for both distribution and technology partners.

Analysis of Q4 2004 Financial and Operating Metrics
Q4 EPS. This metric came in at a loss of ($0.93), ahead of our estimate of
($1.01) and well ahead of consensus of ($1.06) for those analysts including debt
reduction costs. Of the delta to our number, $0.05 was due to
lower-than-expected satellite depreciation expense.
Q4 Revenue. Q4 ARPU was flat sequentially at $8.75, as expected. Q4 revenue
grew to $83 million, up sequentially from $66 million in Q3 due to strong sub
growth and ahead of our estimate of $80 million. Revenue guidance suggests that
full year 2004 "subscription revenue" of $233 million will more than double in
2005 to $480 million.
Q4 Fixed Expenses. Q4 2004 fixed expenses came in at $41 million, slightly
below our $44 million estimate, excluding baseball costs. Importantly, this
metric of $41 million was flat sequentially from the prior quarter, again
indicating that XM is on track to realize significant economies of scale given
the nature of its satellite-based platform.

[candlebougie]

[candlebougie]

hier noch mal Stifel (original)



http://www.stifel.com/stifelresearchdocs/XMSR%20021105%20FC.…

[candlebougie]

Start des Satellite (XM-3) heute nacht zwischen 4 und 6 Uhr.....

LIVE hier zu verfolgen: http://www.sea-launch.com/current_index_webcast.html

[candlebougie]

Start um 24 Stunden wegen schlechten Wetters verschoben....

[candlebougie]

JP Morgan Heraufstufung!!

JPM:

Expense Story Should be Manageable Now
XM substantially guided down EBITDA expectations on its 4Q04 earnings call,
seeing a loss of $366m versus the consensus of $263m and our loss estimate of
$273m, due to higher CPGA, R&D, programming and broadcast costs. The main
positive now is that this guidance is out, and we believe is conservative. Our
$98-$99 CPGA estimate for CY05 and beyond is consistent with XM`s long-term
goal to target a level near $100, with savings on hardware subsidies put into
incremental marketing. We continue to believe that the content wars are behind
us and growth in programming costs will moderate going forward.


Satellite Risk Limited
We are upgrading in the face of a planned XM3 satellite launch, now scheduled
for Feb. 17 . The risk of a launch failure we believe is less than 10%. This
satellite is fully insured, and a backup could be launched by yearend, we
believe, at least two years ahead of any noticeable degradation in service
quality from the current satellites. If the unlikely occurs and a mishap hits
the satellite and the shares, we would see that as a buying opportunity.


Rating and Valuation Analysis
We rate XM Overweight and believe that at current valuations, XM`s stock can
outperform media averages due to faster growth. XM is trading at a firm value
of $1,856 per 2005E sub and $1,232 per 2006Esub, with the 2006 multiple near
DBS TV companies and declining due to sub growth. We see the company becoming
free cash flow profitable in CY06, ahead of EBITDA profits in CY07, due to a
deferred revenue component. XM is trading at a yield of 1% on our CY07E free
cash flow and 2.9% CY08E, similar to more mature media companies, despite a
higher growth rate. Using our forward balance sheet and share estimates, we
believe that XM is trading at 15.8x 2010E EBITDA, a premium to the 10x to 11x
forward year multiples of traditional media companies that we believe is
justified by higher free cash flow and rapid growth.

[candlebougie]

Satellitenstart nochmals verschoben.....

[candlebougie]

Satellitestart wahrscheinlich morgen....

... heute nochmal nachgekauft...

[candlebougie]

Ich hoffe einfach mal, dass einige Leser auch in den letzten Tagen nachgekauft haben...

heute abend soll die Rakete starten.... (mal sehen)

[seinfeld]

28.02.2005 16:51:
XM Satellite erhöht Grundgebühr

Der Anbieter von digitalen Satellitendiensten XM Satellite Radio (Nachrichten) wird die Grundgebühr für seinen Basisdienst um $3 auf $12.95 pro Monat anheben. Die Preiserhöhung soll ab dem 2. April gültig sein. Der Anbieter aus Washington wird Bestandskunden die Möglichkeit geben, die Grundgebühr bei $9.99 „einzufrieren“. Bedingung ist jedoch ein Jahresabonnement. Am 2. April will XM zudem einen Internet-Radio-Kanal namens XM Radio Online starten.


Gruß Seinfeld

[candlebougie]

Die deutschen Meldungen sind so fehlerbehaftet... unglaublich.

Egal - der Raketenstart ist geglückt!!!!

Press Release Source: XM Satellite Radio

XM Radio`s Satellite Successfully Delivered to Orbit
Tuesday March 1, 12:56 am ET

# WASHINGTON, March 1 /PRNewswire-FirstCall/ -- XM Satellite Radio (Nasdaq: XMSR - News) announced the successful launch of its XM-3 satellite. Liftoff occurred on February 28 at 10:51 pm EST off the Sea Launch Odyssey Launch Platform in open waters of the Pacific Ocean on the equator. The XM-3 satellite was inserted into a geosynchronous transfer orbit, on its way to an orbital location for routine testing prior to placement in its final orbital position at 85 degrees West Longitude. A ground station in South Africa acquired the spacecraft`s first signal an hour after liftoff, as planned.(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/XMSATLOGO )

Built by Boeing Satellite Systems, the XM-3 satellite is a Boeing 702 spacecraft, one of the most powerful satellites built today, designed to provide 18 kilowatts of total power at beginning of life. Like its sister spacecraft, XM-1 and XM-2 -- also launched by Sea Launch -- XM-3 will transmit more than 150 channels of digital-quality music, news, sports, talk, comedy and children`s programming to subscribers nationwide.

[seinfeld]

Hier nur eine von mehreren Kaufempfehlungen

01.03.2005
XM Satellite Upgrade
CIBC World Markets

Rating-Update:

Die Analysten von CIBC World Markets nehmen für die Aktie von XM Satellite (ISIN US9837591018/ WKN 928258)
ein Upgrade von "sector perform" auf "sector outperform" vor. Das Kursziel werde von 41 auf 55 USD angehoben.

Gruß Seinfeld