logo
Plus   Neg
Share
Email

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
MillerCoors LLC has filed a lawsuit against Anheuser-Busch Companies LLC, part of Anheuser-Busch InBev, alleging that Anheuser-Busch's ad campaigns associating MillerCoors' products, Miller Lite and Coor Light, with corn syrup is "false and misleading." During the Super Bowl, ABInBev ran an advertising campaign that mocked Miller Lite and Coors Light use corn syrup in brewing. Shares of Biogen Inc. are falling almost 28 percent in Thursday's trading after the company and Japanese drugmaker Eisai Co. said they will discontinue two late-stage trials for their experimental Alzheimer's drug, Aducanumab. The two Phase 3 trials, ENGAGE and EMERGE, are multi-center, randomized, double-blind, placebo-controlled, parallel-group studies designed to evaluate Aducanumab. The European Union on Wednesday ordered Alphabet Inc.'s Google to pay an antitrust fine of 1.49 billion euros for abusing its dominant position in the online search advertising intermediation market by preventing competition. This is the third antitrust fine by the EU against Google and it represents 1.29 percent of the tech giant's turnover in 2018.
Follow RTT