NEW YORK (
) -- Investors will have their hands full Thursday with earnings reports from
, among others, as well as monthly retail same-store sales data.
Sirius XM, consistently among the most heavily traded stocks on the Nasdaq thanks to its fervent shareholder base, is expected to report a loss of a penny a share on revenue of $607.8 million. While the stock price is down more than 60% from a year ago, shares have surged more than 350% in 2009, with much of the increase coming after the satellite radio company was given a $530 million life raft by
All eyes will be on Sirius XM's subscriber numbers, especially considering the recent woes of automakers. In the first quarter, Sirius XM saw 1.34 million gross subscriber additions, but deactivations totaled 1.74 million. That was good for a net subscriber loss of 404,422, the first subscriber loss in the company's history.
On the positive side, Sirius XM said in May it expects to achieve over $350 million in full-year adjusted income for 2009, up from the previous guidance of over $300 million it provided in March.
Comcast is expected to notch a quarterly profit of 26 cents a share on revenue of $8.86 billion, according to a poll of analysts by Thomson Reuters. In May, the largest U.S. cable provider said profit rose 6% to $772 million and sales rose 5% to $8.84 billion in the first quarter, both better than analysts expected.
In addition to Sirius XM and Comcast,
Nasdaq OMX Group
are slated to release earnings reports Thursday.
Retailers will also be the focus of trading Thursday, as many of the major shops will report monthly sales data before the market opens. A poll by Thomson Reuters anticipates an overall 5% decline in same-store sales, with the largest declines seen in teen apparel stores like
Abercrombie & Fitch
American Eagle Outfitters
On the economic front, the
will post weekly initial jobless claims data at 8:30 a.m. EDT. Later in the day,
will release weekly mortgage rates.
Overseas, the European Central Bank and Bank of England will hold meetings on interest rates Thursday, with announcements expected before U.S. markets open for trading.
-- Written by Robert Holmes in New York