Sirius (SIRI) Shares Gain on Strong Auto News
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Sirius XM Radio Inc. (Nasdaq: SIRI) is catching a bid Tuesday following bullish comments from Ford Motor (NYSE: F) Americas President, Mark Fields.
As noted, Fields said Ford might report sales in June which would exceed May's numbers.
Monday, General Motors (NYSE: GM) announced it would offer a three-month Sirius trial on all pre-owned vehicles.
The news is a boon for Sirius, which draws the lions share of its revenue from automakers. The company has a vast set of contracts from Audi to Volkswagen, and most everything in between.
Sirius shares are up 4.7 percent to $2.01 Tuesday afternoon.
As noted, Fields said Ford might report sales in June which would exceed May's numbers.
Monday, General Motors (NYSE: GM) announced it would offer a three-month Sirius trial on all pre-owned vehicles.
The news is a boon for Sirius, which draws the lions share of its revenue from automakers. The company has a vast set of contracts from Audi to Volkswagen, and most everything in between.
Sirius shares are up 4.7 percent to $2.01 Tuesday afternoon.
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