XM Shares Soar After FCC Approves 3 Radios
From Reuters
XM Satellite Radio Holdings Inc. said the Federal Communications Commission had given it the go-ahead to sell three radio models after concerns about whether they met regulations.
Shares of the subscription-based satellite radio provider rose as much as 9% after the Washington company said manufacturers could resume making the radios it described as key products.
XM closed up 59 cents, or 4.6%, at $13.49.
