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

Sirius Posts Higher-than-Expected Quarterly Revenue: Hot Trends

NEW YORK ( TheStreet) -- Popular searches on the Internet include Sirius XM (SIRI - Get Report)after the satellite radio company posted higher-than-expected quarterly revenue on subscriber increases.

The company said second-quarter revenue rose 13% to $837.5 million, beating estimates of $834.38 million. Sirius also raised its adjusted revenue outlook for the year to $900 million from $875 million.

The company also hit a record 22.9 million subscribers, after adding 622,000 in the quarter. Last month, Sirius raised its subscriber and revenue targets as well, thanks to growth in the auto industry.

Sirius did not comment on the fight for control of the company with Liberty Media Group, which is trying to take over Sirius. Liberty Media plans to take over the company upon approval from the Federal Communications Commission.






Gibson Guitar is trending after the instrument maker admitted to importing endangered exotic wood.

Despite the company's violation of environmental laws, federal prosecutors will drop charges against Gibson. Gibson agreed to pay a $300,000 fine as well as donate $50,000 to the National Fish and Wildlife Foundation. The company also forfeits what is estimated to be $262,000 worth of wood that has been seized by federal agents.

The settlement comes after federal agents raided Gibson facilities in Memphis and Nashville. Affidavits supporting the raids allege that the company falsified labels of imported wood to avoid import laws.

CEO Henry Juszkiewicz said in a statement that Gibson "was inappropriately targeted."






Standard Chartered is another popular search. The New York State Department of Financial Services has threatened to take away the company's state banking license over its ties to Iran.

The bank regular said Standard Chartered hid over 60,000 secret transactions with Iran worth $250 billion, violating U.S. law. Standard Chartered allegedly exposed the U.S. banking system to corrupt individuals and groups like terrorists and drug traffickers, according to the department.

Standard Chartered said in a statement that it complied with U.S. regulations and shared an analysis with U.S. agencies to prove it did so.

1 of 2

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
HBC $0.00 0.00%
SIRI $3.88 0.00%
AAPL $124.75 0.00%
FB $80.78 0.00%
GOOG $524.05 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs