Sirius XM Radio (NASDAQ:SIRI) announced in a press release that it added 622,042 net subscribers in the second quarter, a 38 percent increase from the 452,147 net subscribers added in last year’s second quarter. The company also added over 1 million net subscribers in the year’s first half . It also raised its full year 2012 subscriber and revenue guidance with an expected net new subscriber growth to reach 1.6 million and revenue to hit $3.4 billion this year.
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Alcoa (NYSE:AA) kicks off earnings season today and already it may not include good news. Analysts have cut their earnings per share estimates to $0.05 vs. $0.32 from the previous year. Revenues are projected to drop 11.8 percent to $5.81 billion. Producing aluminum isn’t a great business as its faces increasing input costs and falling completed product prices. Year-to-date, Alcoa’s stock is flat.
WellPoint (NYSE:WLP) agreed to acquire Amerigroup (NYSE:AGP) for $92 per share in a cash deal. This is valued at almost $4.9 billion. The offer is a 43 percent premium from Amerigroup’s closing share price on Friday. In premarket trading, shares were up 40 percent.
Barclays (NYSE:BCS) is reviewing its options to spin off its investment-banking unit after the Libor scandal, reported Britain’s Sunday Times. The division may float in New York as the U.K.-based retail and commercial bank keeps its London address. However, a MarketWatch story said the news report wasn’t true.
General Motors (NYSE:GM) believes that quick growth in Russia will help offset its slowing sales in China, said senior executive Tim Lee. In this year’s first half, the company’s Russian sales rose 21 percent to 136,400 vehicles, thanks to strong numbers from the Chevrolet Niva.