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DAILY EDITION: Feb. 10, 2003 Page 3


Sirius, for example, recently reported fourth quarter revenue of just $5 million, a net loss of $148 million, and market capitalization of a whopping $3 billion. Shares of Sirius are off 30 percent since January 5, closing at $2.90 per share Monday, but up 50 percent from November 25. Sirius added 111,449 subscribers in the fourth quarter, a 75-percent bump from the third quarter, but at a high cost in the form of rebates. Analysts say the radio stocks have been the target of speculative investing. Anyone recall eToys. com?

XM has 1.36 million subscribers and projects doubling that in 2004. Of the 140 million shares of XM that float, 40 million are short. That's large enough to make it so that the stock overreacts to the upside on any good news. It's a similar picture for Sirius.

XM shares are up 14 percent since early November, off 11 percent from two weeks ago, but up about 500 percent from its one-year low.

Wall Street expects XM this year to post a loss before interest, taxes, depreciation, and amortization of $250 million on revenue of $259 million; at Sirius, analysts see negative earnings before interest, taxes depreciation and amortization of $313 million on $72 million in revenue. —Jim Burt

FROM THE SOURCE headlines from the latest press releases

PRNewswire

Vehicle scrappage rates declined 9.1 percent in 2003, according to R. L. Polk & Co. The number of passenger cars scrapped in 2003 was down 6.1 percent while light trucks experienced a 12.7 percent decrease. Both numbers were factors in driving the scrappage rate down for all vehicles, a trend since 1970. "Cars and light trucks are becoming more durable," said Mike Gingell, vice president of Polk's aftermarket team. "Although the scrappage rate for all trucks increased, the scrappage rate for light trucks stands at 6.0 percent, which is the lowest scrappage rate since Polk's light truck report was introduced in 2000. While we saw a significant increase in scrappage rates for the heavier trucks, the overall percentage was driven down by cars and light trucks."

The bright, open atmosphere that greets visitors of the Walter P. Chrysler Museum in Auburn Hills, Mich. now welcomes virtual visitors through the Museum's newly redesigned web site at http://www.chryslerheritage.com/homepage.do;jsessionid=1418170DD1F537F1ECAAE5CB520164AF. The site greets visitors with continuously revolving panoramic views of the Museum's first and second levels highlighting concept and production vehicles from the 1900s - 1990s. The home page also features graphic links to the Museum's special exhibits and events, current and past issues of its award-winning four-color Forward magazine and its popular gift shop, brimming with exclusive and hard-to-find collectibles and souvenirs.

THE TICKER

Name Symbol Last Chg
AUTOLIV ALV 42.96 +0.04
AUTONATION INC AN 17.21 +0.07
ARVINMERITOR ARM 22.48 -0.05
AMER AXLE & MANU AXL 40.84 -0.06
BALLARD PWR SYS BLDP 11.50 +0.01
BORG WARNER BWA 94.80 +0.87
COLLINS AIKMAN CKC 5.62 +0.07
CUMMINS INC CMI 50.19 -0.32
DANA CORP DCN 22.43 +0.80
DAIMLERCHRYSLER DCX 46.84 -0.02
DELPHI CORP DPH 10.79 -0.04
DURA AUTO SYS DRRA 14.09 -0.28
EATON ETN 119.20 +0.82
FORD MOTOR CO F 14.16 -0.12
GENERAL MOTORS GM 49.11 +0.47
GENTEX CORP GNTX 44.42 -0.17
GOODYEAR TIRE GT 9.69 -0.28
HONDA MOTOR CO HMC 20.98 -0.32
JOHNSON CONTROLS JCI 59.40 -0.66
LEAR CORP LEA 64.51 -0.48
MAGNA INTNL MGA 80.83 -0.10
MOTOROLA INC MOT 16.80 -0.14
NISSAN MOTORS NSANY 20.63 -0.25
SONIC AUTOMOTIVE SAH 24.16 +1.86
SIRIUS SAT RADI SIRI 2.90 +0.10
TOWER AUTO TWR 5.96 -0.02
TOYOTA MOTOR TM 66.74 -1.96
UNIT AUTO GRP UAG 30.60 +1.51
VISTEON CORP VC 11.04 +0.04
XM SATELLITE XMSR 23.30 +0.44

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