NEW YORK (TheStreet) -- Sirius XM (SIRI) was trading near its highest price since 2007 on Wednesday amid speculation that the satellite radio broadcaster may be poised for a pullback ahead of its third-quarter earnings announcement scheduled for tomorrow morning before the market open.
Shares were trading at $4.12, just below the $4.18 high water mark hit earlier in the day.
Sirius is up 3,358% since tumbling to 10.5 cents in February 2009 during the the financial crisis. But since streaming music service Pandora (P) which went public in June 2011, Sirius has gained a still impressive 106% compared to its rival's 101% advance.
Much of Sirius' gains this year have been in-line with the broader market's movements, with patches of volatility in mid-October from political uncertainty in Washington and June (a possible hangover from the 'Sell in May' mantra). Sirius shares have added 43% in 2013.
As for third-quarter earnings, analysts surveyed by Yahoo! Finance expect earnings of 2 cents a share on $969.67 million in revenue, a 12% increase from the same quarter a year ago. In the second quarter 2013, the New York-based company recorded $940 million in revenue, a 12% year-on-year gain.
In July, Sirius revised its full-year 2013 guidance to net income of $1.14 billion on more than $3.7 billion, and an additional 1.5 million subscribers added throughout the year.
Though Apple's (AAPL) iTunes Radio and Pandora are encroaching on general consumer-based markets, Sirius XM continues to strengthen ties with the auto industry. Earlier in the month, the company announced its acquisition of Agero's connected vehicles unit, which solidified its relationships with original equipment manufacturers (OEMs), developers of Sirius-enabled equipment for vehicles.