Carmike’s Q3 up
Carmike Cinemas on Tuesday reported third-quarter net income of $2 million compared with a net loss of $1 million a year ago. Revenue was $135.3 million, up from $130.3 million a year ago. Shares of Carmike, which has an interest in 2,369 screens in 37 states, slipped fractionally during regular trading to $15.34 and kept sliding after hours.
XM soars on merger hints
Shares of XM Satellite Radio jumped 11.7% on Tuesday to $14.82 after federal regulators asked for more information on its proposed merger with Sirius Satellite Radio, and Bear Stearns analyst Robert Peck said the FCC request hints that the Department of Justice might be close to approving the merger. “If the DOJ were close to denying the deal, the need for such detailed information would not have arisen in the first place,” Peck said. Both companies have until Nov. 16 to respond to the request. XM led Tuesday’s gainers on The Hollywood Reporter’s Showbiz 50 stock index.
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