Sirius XM’s Shares Pop and 2 Movers Turn Heads
Advanced Micro Devices (NYSE:AMD), the second-largest manufacturer of PC processors, saw its shares jump to their highest price in six weeks as some investors gambled that the firm’s largest shareholder could help avoid a cash shortfall. The stock rose by 7.27 percent to $2.36 Monday, but earlier in the trading day touched $2.46 for the highest intraday price since October 19th. Shares had lost 59 percent in 2012 before Monday.
Sirius XM Radio (NASDAQ: SIRI), a satellite radio firm with more than 20 million subscribers, closed up sharply in trading on Monday. Shares finished up 1.27 percent at $2.80 on volume of 56 million, representing two-thirds of the daily average volume of 78.55 million, and have now gained over 4 percent during the past three trading sessions.
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Oracle Corporation (NASDAQ:ORCL) and SAP, which comprise the ERP software market’s biggest players, are seeing their longtime rivalry come to a standoff near the year’s end. The two firms now face common enemies as upstart ERP vendors based in the cloud, such as NetSuite and Workday, emerge. Analyst Frank Scavo, president of consulting firm Strativa, comments that, “The old battle between SAP and Oracle is kind of being fought to a draw. The real battle is the old guys vs. the new guys and every indication is the new guys are winning.” Scavo added that newer ERP firms’ revenues stay much smaller than those of SAP and Oracle, but they are growing at much faster percentage rates.
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