XM Satellite Shares Jump on Wal-Mart Deal

Shares of XM Satellite ( XMSR) shot up Tuesday morning following news of a deal with Wal-Mart ( WMT).

Delphi Product and Service Solutions, a unit of Delphi ( DPH), said Tuesday that Wal-Mart will sell the complete line of Delphi XM SKYFi products in 2,100 store locations across the country. The Delphi XM SKYFi products are made jointly by XM and Delphi, and serve as a satellite radio unit.

Recently, shares of XM Satellite were up 18.6% at $11.50, while Wal-Mart shares were up 0.2% at $55.68 and Delphi shares were up 1.5% at $8.59.

"We are very excited to offer Wal-Mart customers SKYFi products," said Francisco A. Ordonez, president of Delphi Product & Service Solutions and vice president of Delphi. "Delphi and XM Radio understand that Wal-Mart customers are looking for quality and value, and we believe SKYFi products will offer them both."

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