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Setbacks Leave XM With 'Explaining to Do'

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#1 of 1 Michael St. Clair

Michael St. Clair

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Posted November 03 2005 - 01:21 AM


Trouble at two key business partners, product delays, and the impending arrival of Howard Stern on the airwaves of a competitor have combined to drive the stock of District-based XM Satellite Radio Holdings Inc. down more than 20 percent over the past four weeks.


"Management's still got explaining to do," read the title of an Oct. 28 research note by CIBC World Markets Inc. analyst Jason Helfstein.

Helfstein and other analysts noted, however, that none of these issues is a long-term problem. "We believe all these issues can be resolved in XM's favor," Helfstein said in his note.

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