New York -- Sirius XM Radio Inc. (NASDAQ: SIRI), the New York City-based satellite radio company, is down in mid-day trading today revering some of the gains from Thursday. SIRI had edged higher on Thursday after the company announced a $2 billion stock buyback program and a special dividend of $0.05 per share, which will be payable before the end of this year.
SIRI is currently down 0.54% to $2.78 on volume of 28.08 million, which is well below the daily average volume of 75.86 million. The stock has gained nearly 2.8% for the week. In recent weeks, SIRI has traded sideways struggling to break through $2.80 resistance level. The stock did break through this level on Thursday and once again in trading today, however, it failed to stay above this level. If SIRI breaks through this level then the next resistance level will be at $2.90.
Find out more about SIRI here: http://www.monstertradingalerts.com/market-scan/?symbol=SIRI
Facebook Inc. (NASDAQ: FB), the social networking giant, is marginally higher in mid-day trading today. At last check, FB was trading 0.30% higher at $27.04 on volume of 21.62 million, which is well below the daily average volume of 79.50 million.
FB has fallen nearly 3.5% this week, reversing some of the gains from last week when the stock had risen nearly 17%. FB has been struggling to break through $28 resistance level. Technical indicators for the stock suggest a pullback in the next few trading sessions.
Earlier in the week, FB announced that it will join the NASDAQ 100 Index beginning December 12, 2012. Find out more about FB here: http://www.monstertradingalerts.com/market-scan/?symbol=FB
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