Sprint Holds Off on MetroPCS and 4 High Demand Stocks Wednesday
Sirius XM Radio Inc (NASDAQ:SIRI): Sirius XM Radio Inc. reported net subscriber additions in the quarter, ending September 30, were 445,921. SiriusXM ended the third quarter with a record 23,365,383 subscribers. Additionally, they announced that they are raising their net subscriber additions from their previous guidance of 1.6 million to 1.8 million for 2012. “These strong net additions produced our best third quarter since the merger and exceeded third quarter 2011 subscriber growth by 34%,” noted Mel Karmazin, SiriusXM’s Chief Executive Officer. “With almost 1.5 million net subscribers already added in 2012 and continuing growth in auto sales, we will significantly exceed our previous guidance of 1.6 million, marking our third increase in subscriber guidance this year and putting us on track for record post-merger net additions.”
Bank of America Corp (NYSE:BAC): According to Reuters, Bank of America Corp. has hired Loh Boon Chye to head their global markets in the Asia Pacific region. This is a first for the Charlotte-based bank (NYSE:BAC) to have their Asian business under a single leader. Loh is a veteran of Deutsche Bank AG, where he worked in the global markets and the corporate investment banking divisions.
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Sprint Nextel Corporation (NYSE:S): Sprint Nextel Corporation is holding off on an immediate counter bid for MetroPCS Communications Inc. so that they have some time to scrutinize the carrier’s planned combination with T-Mobile USA Inc. MetroPCS shares decreased as much as 12%.
Alcoa Inc. (NYSE:AA): Alcoa Inc., the aluminum producer, beat Wall Street’s earnings estimates on Tuesday night, but said that they expect a slowdown in China to weaken the demand for aluminum. The company’s stock fell 43c to $8.69.
BAE Systems (NASDAQ:BAESY): After political haggling among France, Germany and Britain killed a deal that would have created a European behemoth in aerospace and defense, EADS and BAE Systems ended mergers talks. The companies’ announcement, following months of negotiations, came just hours before a deadline set by the British authorities to decide whether to proceed. The European aerospace giants said that they had been able to reach agreement concerning commercial terms for the merger, but had not been able to win government support. The breaking point was over the size of the new stakes to be held by the European governments and other political considerations.
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