Plus   Neg

Sirius XM Moves Notably Higher After Upgrade By JPMorgan

After initially showing a lack of direction, shares of Sirius XM Holdings Inc. (SIRI) have shown a strong move to the upside over the course of the trading day on Wednesday. Sirius XM is currently up by 2.3 percent.

The advance by Sirius XM comes after JPMorgan Chase upgraded its rating on the satellite radio company to Overweight from Neutral.

JPMorgan suggested a recent sell-off by Sirius XM has created a buying opportunity ahead of the closing of the company's acquisition of Pandora Media (P).

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ford Motor Co. plans to launch an all-electric plugin version of its popular F-150 pickup truck. The announcement was made by Jim Farley, Ford's president of Global Markets, during a presentation at the Deutsche Bank Global Automotive Conference in Detroit. Ford's announcement comes as the auto industry transitions away from fossil fuel-powered transportation to electric vehicles. Logistics giant UPS' investment arm Strategic Enterprise fund made an equity investment in blockchain-for-business company Inxeption Corp. In a statement, Inxeption, an industrial-strength eCommerce platform built on Blockchain, said the investment will be used to create innovative new e-commerce solutions for B2B sellers and buyers. Children's clothing retailer Gymboree Group, Inc. has again filed for Chapter 11 bankruptcy protection, the second time in nearly two years. The company will close more than 800 Gymboree and Crazy 8 stores in the U.S. and Canada. The San Francisco-based retailer said that along with its U.S. subsidiaries, it has filed a petition in the U.S. Bankruptcy Court for the Eastern District of Virginia.
Follow RTT