XM Rally: Big Ado About Nothing?

Investors sent XM Satellite Radio's stock up 10% today on an analyst upgrade report. What's surprised me about this market reaction is, the analyst report offers hardly any new information.
Olga Kharif

I just read the analyst report that sent XM Satellite Radio's stock soaring 10% this morning. The analyst, Robert Peck of Bear Stearns, just upgraded the company's stock to outperform citing the following reasons: 1.) In September, Oprah will debut on XM. 2.) Back-to-school and Christmas sales should be strong. 3.) Troubles with the Federal Communications Commission (FCC) over XM's radios should soon be resolved.

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