Ford Shares Rise 2% as Sirius Surges 10%, Leading Markets Higher
As the markets started off in the red this morning, the major U.S. stock indices are in the green this afternoon as more buyers continue to the lift prices on the heels of a solid jobs report. Shares of Ford, Sirius and Intel are displaying market leadership today for the following reasons:
Ford Motor Company (NYSE:F): Detroit News reports double digit sales growth for 2011. Detroit News reported a 10.3 percent rise in total U.S. car and light truck sales to 12.78 million as Detroit’s Big Three posted the strongest gains. Bloomberg reports with auto sales picking up, Ford’s (NYSE:F) Ford Motor Credit finance unit sold $1 billion worth of bonds. A source says Goldman Sachs (NYSE:GS), Deutsche Bank (NYSE:DB), Morgan Stanley (NYSE:MS) and BNP Paribas (BNPQY) managed the sale.
Sirius XM Radio Inc. (NASDAQ:SIRI): Sirius XM exceeds subscriber guidance. Sirius XM Radio reported a net of 540,000 new subscribers for the fourth quarter and about 1.7 million for fiscal year 2011, ended the year with almost 21.9 million subscribers. Chief executive officer Mel Karmazin said, “Based on preliminary subscriber data, we are very pleased to announce that SiriusXM exceeded its subscriber guidance for the year. Our subscriber growth accelerated in 2011 as net additions grew approximately 20 percent, delivering our best year for net additions since the merger and demonstrating the strong continuing demand for our unmatched audio content.” The company reiterated financial guidance for 2011 and 2012 and is expected to announce complete 2011 results and 2012 subscriber guidance in February.
Intel Corporation (NASDAQ:INTC): Wells Fargo sees Intel’s earnings-per-share expanding at an annual pace of 15-20 percent. The firm believes 2012 has good things inside for Intel as early as March there could be recovery could from flooding in Thailand. The United States Patent and Trademark Office published three new Intel patents related to Thunderbolt. Citing a Patently Apple report, Boy Genius Report says the patents may indicate Apple (NASDAQ:AAPL) is planning to integrate Thunderbolt connections for iOS devices.
Further Reading: Did Retailers Hit or Miss The Holiday Season?>>
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