Satellites in orbit
XM (Nasdaq: XMSR) reported earnings. Sirius (Nasdaq: SIRI) reported earnings. I don't know about you, but now that it's been more than a year since the satellite-radio providers announced their plans to merge, I figured I would only have to read one earnings report and listen to just one conference call.

For the sake of personal productivity, regulators, please get this deal passed or nixed. Give me either one intriguing company or two players that are gnawing at each other's throats again.

Nothing but Netflix
Don't you hate it when the media gets it wrong, over and over again? Netflix (Nasdaq: NFLX) raised its guidance this week, but it wasn't an across-the-board upgrade. The company inched its targets higher for 2008 subscribers and revenue, but kept its net income mark intact. The earnings per share also scooted up a bit, but only because the company stepped up its share repurchase efforts.

It may be a minor quibble, but the DVD rental specialist elevated earnings per share -- not actual earnings -- for all of 2008. Still, I heard that distinction botched on CNBC, and I read erroneous coverage everywhere from Associated Press to The Wall Street Journal.

Technically, the company did raise its net income for the first quarter, but it still kept its net income intact for all of 2008. Why, then, isn't anyone reporting this news as Netflix lowering its profit guidance for the final three quarters of 2008? There has to be a balance here.

Don't get me wrong: As a Netflix shareholder, I'm absolutely loving these fresh 52-week highs. I simply favor accurate reporting.

Briefly in the news
Let's quickly survey some of the other stories that shaped our week.

  • Stop the presses! Yahoo! (Nasdaq: YHOO) launched Yahoo! Buzz, a Digg clone. On second thought, keep the presses running. It's Yahoo! launching a Digg clone.
  • Electronic Arts (Nasdaq: ERTS) went public with a $26-a-share bid for smaller video game maker Take-Two Interactive (Nasdaq: TTWO). What is EA thinking? Doesn't it remember Take-Two's State of Emergency game six years ago? In that game, players would rough up corporate executives. If EA brings these guys into the boardroom for negotiations, it'd better pat them down to make sure they're not packing AK-47s or brass knuckles.
  • Sears Holdings (Nasdaq: SHLD) announced a steep drop in profits, following sluggish same-store sales at both Kmart and its namesake stores. The company is exploring the possibility of selling its Sears signature products, like Craftsman tools, Kenmore appliances, and DieHard car batteries, through other retailers. Great! Now the solution to fix Sears is to give shoppers even less of a reason to go to Sears.

Until next week, I remain,
Rick Munarriz

Netflix and Electronic Arts are Stock Advisor newsletter recommendations. Sears Holdings is an Inside Value stock selection. Take-Two is a Rule Breakers pick. If the weekend finds you hungry for stock picks, feed your appetite with a 30-day trial subscription offer.

Longtime Fool contributor Rick Munarriz recommends windshield wiper fluid when trying to look back. He is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early. He does not own shares in any of the stocks in this story, save for Netflix. Yahoo! is a former Stock Advisor pick. The Fool has a disclosure policy.