Sirius XM may see increased volume after Barrington Research analyst James Goss reiterated his outperform rating on the stock and raised his price target to $1.50 from $1.25. Goss says the increased price target is due to the migration to a 2011-based target value, and is based on additional subscriber growth optimism.
"Sirius XM is on track to generate increasing subscriber counts, higher revenues and improving profitability," Goss writes. "We feel an increasing number of investors are willing to give this story more serious consideration as management demonstrates success in dealing with the speculative elements and creates a clearer path to meaningful positive results."
Shares of Sirius XM closed Thursday at $1.16 and were up nearly 1% in the after-market session. The average daily share volume for Sirius XM is 83.5 million.Elsewhere, Tibco Software (TIBX) share jumped by $1.48, or 9%, to $17.85 in Thursday's late session after the company posted third-quarter earnings of 17 cents a share on revenue of $184.5 million, above the consensus for earnings of 15 cents a share on revenue of $175.8 million. Tibco also guided fourth-quarter revenue above forecasts. The average daily share volume for Tibco is 3.2 million. ARM Holdings (ARMH) are climbing by $1.19, or 6.5%, to $19.59 in the premarket session on speculation the company could receive a buyout bid. Several media reports cite comments made Thursday by Oracle CEO Larry Ellison, who said the software giant could "buy a chip company." The average daily share volume for ARM Holdings is 89,000. Jackson Hewitt Tax Services (JTX) pulled back by 3.7% to $1.03 after the stock rallied more than 24% during Thursday's session. On Thursday, Jackson Hewitt said the New York Stock Exchange accepted the company's plan for continued listing on the exchange. The stock was a delisting candidate for failing to meet the NYSE's minimum equity market capitalization listing standard. The average daily share volume for Jackson Hewitt is 482,000. Also on the downside, Vical (VICL) shares are dropping by 51 cents, or 17.8%, to $2.36 in the premarket session after the company late Thursday announced plans for a public offering of common stock. The average daily share volume for Vical is 493,000. -- Written by Robert Holmes in Boston.
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