Sirius Xm Holdings Inc

Sirius XM shares jumped 6.8% to $28.90, driven by a new NASCAR deal and CFO's conference comments, as Q1 subscriber losses beat expectations.

SiriusXM shares rose 0.9% after Q1 self-pay subscriber losses of 111,000 were far less than expected, while free cash flow surged 205% to $171 million.

SiriusXM and iHeartMedia are in early-stage merger discussions, Bloomberg reported. A tie-up would create a $12 billion audio powerhouse, combining satellite, broadcast, and podcast assets.