This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Five Dumbest Things on Wall Street This Week


5. Another Dog of a Press Release

Speaking of questionable writing in company earnings announcements, this week's Get To The Point Already Award goes to Sirius Satellite Radio (SIRI - Get Report).

Now, let's say you saw a press release entitled "Sirius Satellite Radio Announces Fourth Quarter and Year-End 2003 Financial and Operating Results" -- the title of a press release that Sirius indeed released this week.

Wouldn't you expect to read something in there about the company's financial results?

Well, so would we. But you have to dig pretty deep into the press release to find it.

You have to read past the part about subscriber numbers. You have to read past the part about the retail aftermarket channel. You have to make it past the "four feature-laden transportable Plug-&-Play receivers," the boating and trucking partnerships, the agreement with Penske Automotive Group, the National Football League deal, the backwards-compatible traffic solution, the Dolby Pro Logic II surround sound and the small translator module.

In fact, you've got to read past 17 paragraphs until you get to the real story: That the company, which has a market capitalization approaching $3 billion, reported $5 million in revenue last quarter. $5 million! In revenue!

The net loss, of course, was much more impressive: $148 million.

That's what we at the lab refer to, sports metaphorwise, as an air ball.

Want to get your Five Dumbest in the mail? Sign up for a free Five Dumbest email alert by becoming a TSC member; the email contains the Five Dumbest article for that week, plus other select TheStreet.com stories. And as a TSC member, you'll gain access to a sampling of our premium RealMoney content. Click here to sign up!
5 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
OSTK $25.79 0.00%
SIRI $3.96 0.00%
TWX $85.36 0.00%
AAPL $130.28 0.00%
FB $81.53 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs