SIRIUS Keeps Growing (SIRI)

SIRIUS XM Radio Inc. (NASDAQ: SIRI) is up big on active trading after announcing that its Q1 subscriber growth was 171,441 net subscribers.  That compares to a decline of 404,422 in the first quarter of 2009.   The satellite radio monopoly now has 18,944,199 subscribers, up 344,765 over the year ago quarter.

The company also noted that gross additions increased by 29% and deactivations decreased by 11% from a year ago; the self-pay churn improved to 2.0% for the first quarter of 2010 from 2.2% a year ago; and the conversion rate to a self-pay subscription improved in the first quarter of 2010 to 45.2%, up from 44.6% from a year ago.

At 9:10 AM EST shares are up over 7$ and back over the $1.00 mark at $1.03 on over 7 million shares.  The 52-week high is $1.18, so even at $1.00 it has been here before.

JON OGG

Banks Chasing JPMorgan (JPM, BAC, C)

J.P. Morgan Chase & Co. (NYSE: JPM) is showing that things are continuing to improve in earnings and credit metrics.  That is what $3.3 billion in earnings does, or earnings $0.74 EPS vs. $0.64 estimates.  Dimon talked up credit and punted the dividend down the road as he said regulators would not likely allow a dividend hike for the time being so that banks can build their capital (and probably be taxed more) in the recovery.  Shares are up 2.8% at $47.18 on almost 2 million shares as of 8:48 AM EST and the 52-week high is very close at $47.47.

Bank of America Corporation (NYSE: BAC) is also trading higher despite its earnings report being 48 hours out.  Shares are up 2.3% at $19.10 on 3 million shares.  Its 52-week range is $7.00 to $19.10.

Even Citigroup Inc. (NYSE: C) is higher ahead of next week’s earnings report.  Vikram’s stock is up 2.1% at $4.72 on over 14 million shares.

JON OGG