MidnightTrader Earnings Play: Sirius Satellite Radio

Sirius Satellite Radio (SIRI | Quote | Chart | News | PowerRating) is due with its Q2 results in the extended-hours on Thursday, Aug. 7. The Thomson FC mean is for a loss of $0.07 per share on sales of $447 million.

SIRI leans toward a narrowing path with its regular-session share move from the price movement seen after a extended-hours earnings release. Shares have widened five times and narrowed or reversed in 10 quarters over the last four years. The stock is in a narrowing pattern over the last year, having cut back its extended-hours performance in follow-on regular session trade in three of the last four quarters.

On May 12, 2008, SIRI declined 1.0% in after-hours trade after reporting a narrower year-over year loss and an increase in revenue. The stock lost 1.4% by the closing bell on May 13.

On Feb. 26, 2008, SIRI declined 1% in pre-market trade despite reporting a narrower year-over year loss on higher revenue. It turned to the plus-side in the Feb. 26 regular session, eking out a 0.3% rise.

On Oct. 30, 2007, SIRI advanced 1.1% in pre-market trade after reporting Q3 revenue up over year ago levels and a narrower loss. It reversed course into the regular session, losing 8.8% by the closing bell.

On July 31, 2007 the stock gained 3.3% in the pre-market hours after reporting a smaller-than-expected loss though with revenue shy of the Street view. The gain was trimmed to 1.3% by the closing bell later that day.

On May 1, 2007, SIRI advanced 1.7% in pre-market trade after reporting improved year-over-year results. It saw that gain evaporate in the regular session, closing the day down 1.9%.

On Feb. 27, 2007, SIRI traded down to 3.70 as the pre-market closed following Q4 sales results that topped expectations. It added to its downside in that day's regular session, falling to 3.65 by day's end.

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