Citigroup Lays Off Analyst Tony Wible; Drops SIRI Coverage
Reports are coming in that Citigroup is laying off analysts globally and is cutting the number of companies it covers by 7%. 11 U.S. analysts are reported to have been given their walking papers today including the departures of Joshua Attie, Brad Ball, Shannon Cowherd, Chip Dillon, Paul Heldman, John Hill, Paul Mansky, David Raso, George Shapiro, Tony Wible and Leone Young. A person familiar with the matter said Paul Heldman was also laid off.
Coverage of some stocks will be moved to other analysts but SIRI will not be one of them. A report from Satwaves.com reveals that Citi has dropped coverage of Sirius XM stating:
* Tony Wible has left Citi. As a result, we are discontinuing coverage of Sirius XM Radio Inc (SIRI).
* The firm’s last recommendation for the company was Buy/Speculative Risk and our target price was $3.75.
* This was our last rating on Sirius XM Radio Inc; we have not provided, and will not be providing, updates to our previous research or ratings. Because facts and circumstances may have changed, the information and analysis contained in this research may no longer be applicable or accurate. Accordingly, you should not rely on this or previous research with respect to this company going forward.
Tony Wible has been the most bullish anaylst of Sirius XM, and he will certainly be missed here at SiriusBuzz.
GREAT. We lost the “friendly” W.
Why couldn’t it have been Weinkes from GS?
THERE IS NO GOD!!!!!
Lol.
We just can’t catch a freaking break.
Maybe Mel should hire Tony as the new IR guy. Blalock is useless.
Is this why the price target on Yahoo dropped? What is the accurate consenses price target now? Will Jessica be next to go? I can’t believe the bad breaks SIRI investors have been victim to – one after another. When will the pain end? Is this another step deeper into darkness – closer to the light?
all well and good. guys, I’m listening to Howard right now. Does anyone know what he said about me?
bought 2000 additional shares today. So get ready for a big drop in the coming days. I’ve never bought and seen the stock go up in recent times. This truly sucks and I’m sure our GS buddy is gonna update to 25 cents any day now! I’m fucked! Sorry I know im starting to sound like Friggin!
Anymore great news for Sirius ?
Analysts price targets are all bullshit anyhow.
Sirius gets financing at a reasonable rate and they go back over $ 2 and if they don’t get it, it’s a big 0 and everyone is wiped out.
It’s that simple and if anyone could get on the inside and know what the chances really are, then you’ll know whether to buy this stock or not.
I’m lost to what to do.
I hate that tony lost his job. He was always a trooper and bullish on satrad. He was just never right. Thats the pisser.
Every LONG has to face reality..it’s a marathon we are running and if you can’t stay in for the long race of a year or two then you need to sell out your shares if your looking for fast money. Enduring the pain is part of the race.
SiriusHope,
I’ve been the biggest bull and spent 6 years of my life and lost boatloads of $ to Sirius and XM. Whereas I respect your opinion, the basis of what you are saying are hingent upon financing. I have no problem holding for a year or two, but without finacing, there is only 3 plus months left before their is a loan in place or they file for chapter 11.
SXM
I really do appreciate your so bullish for the years you have endured..I think the financing will fall in place and there will be NO NEED to file BK. But I have also considered that is possible but improbable.
Man, what’s going on here??? Tony Wible has never been right, ever. If you own this company’s shares because of Tony you have been misled. You should own this company’s shares because you yourself have been through the numbers, have listened to the programming, can see this technology’s future, and want to prosper from its success. Tony leaving….so what…..
Brandon,
Howard gave you kudos in reference to your comments on the front page LA times story. I think he said you questioned the news worthyness of it being a front page story and the fact that it was agenda driven as opposed to real news.
Kevin. I caught the friggin virus weeks ago. LOL.
My take Brandon, is more that Citibank sees no reason to cover the stock. And that is truly the problem with the company as a whole. The buyers are gone. The merger/debt nightmare chased them all away. I’m not certain any .40 stock should honestly get analyst coverage anyway to be honest.
Brandon did you ever figure out what Howard said about you. Cause he should have said that Sirius/ Xm needs to give you the marketing department for 6 months and see what happens.
No one wants to hear it. But the late night Bloomberg and Cnbc international tv is by far and away the best coverage for all investors. October has always been the month of record drops. The technical charts point towards October 20th as a key low since the depression. That’s with my friggin analysis.
I refuse to buy in October. However, the charts say from November through February/March we may have some upward action. Which I say coincides with Mel sinking his big ass teeth into some financing.
Good luck to all.
The yahoo board reminds me of the saying “like watching two monkeys fucking a football”. Complete disarray. Oh the good ol days.
I agree with socal. Judging from Mel’s optimistic yet non specific timeframe on financing, we probably won’t be hearing any news until close to February.
But as Sirius shareholders we should be used to this nail biting suspense by now.
Lol.
Always waiting. Always in anticipation of SOME good news. Wether it be 17 months waiting for the FCC to approve the merger and now refinancing it’s debt.
I think the day I am actually ABLE to sell my shares for a profit, I will be in a state of shock!
Friggen. My “friggen” technical analysis points toward next November/December for what I recall is your $3 target. That would be my positive take. This includes my $2 target on a debt restructuring that is actually positive news rather than the merger debt deal. Remember just because he takes care of the debt, doesn’t ensure that it’s well received.
Then after the debt, the economy should hopefully get moving by next summer. Gas hopefully stays down. Cars get bought again after we go through this nightmare next six months.
My wild card is something that happened with Howard. Sign a big name and make it happen six months to a year out like with Howard. This brings great press and many investors who think the new personality will make the company profitable. Sound familiar? lol.
Take Care Friggen.
who cares his opinion had no influence anyway
Your wild card wasn’t Mad Dog?
i hear ya Socal. When(if) Mel announces a refinance deal, I don’t automatically assume the clouds will part and a choir of Angels will start singing.
Lol. Nope. In fact as “hopeful” as I may be, I’m also become so cynical that I’d completely expect to be “sucker punched” by something much like we were after the merger. Or at the very least, I would almost bet there’d be no overnight quadrupling of the stock price.
Even tho that VERY same thing happened to the European Sat Radio company WRSP. After it got positive financing the other week, it shot from 60 cents to $2.80 I think LITERALLY overnight.
As we get closer to February tho, and if the price still stays low because of the waiting AND the current market…I MAY buy more.
Just a couple of grand more invested at these prices would lower my “break even” price to about $1.50.
So it’s VERY tempting. I mean, if I stand on losing EVERYTHING should financing NOT be secured, I could also on the flip side hedge my bet for not much more money to be able to get out even quicker.
Because to be honest…I’m TIRED of the anxiety of “waiting” and the thought of waiting even longer- should refinancing be secured – for the stock to get back to $3…is TOO MUCH.
If I could possible shorten my wait time by investing another couple of grand and b able to get out at $1.50….it’d be worth the risk.
In a weird way, the bad economy is helping me. Because it’s added weight on the stock is giving me more time to not only plan my next move, but to save up the extra funds to execute it.
Even IF the refinancing is announced, this economy may still give me time to get in at these low prices.
I ONLY hope I can time my additional purchase of Sirius shares(it’ll be my LAST). Because my track record with “averaging down” so far has been abysmal.
LOL. Seriously. EVERY time I’ve bought more shares in the past, the stock fell lower. It’s hard to imagine it falling much lower…but STILL…I’ve been burned so many times before, I’m alittle gun shy.
But if I can swing it, ONE LAST chunk of money thrown at the stock at these prices could prove my best move should Mel announce a refinance deal.
Being able to get out at $1.50 instead of $3.00 would be HUGE.
Just the thought of Freedom would be worth it. Because if the stock should reach $1.50 again…I doubt it will ever go below it again. So the anxiety I’ve been virtually CRUSHED emotionally with every day for 3 years would be lifted. I’d have the peace of mind to either cash out or hold for a HIGHER price per share – but without the pressure.
Or at least this is my thinking.
Of course Mel could TOTALLY FAIL in his mission, and I could lose EVERYTHING in yet another “UGLY” refinance deal….or worse…BK.
LOL.
I cannot wait to be either OUT of this stock completely OR so far in the green that the pressure and anxiety about this stock would no longer exist.
Either way, I’d be able to breath freely again. 🙂
Oh by the way, I haven’t visited the Yahoo boards since the Merger was approved.
After the “Ugly” deal by Mel and the stock price plummeted without a post merger POP after 17 months of waiting….I just couldn’t bare the taunting of the shorts.
Leading up to the merger is was an INSANE place. But after the merger it just became BRUTAL. And only the most masochistic long would subject themselves to that kind of torture.
I’m not even TEMPTED to go in there. And I have to say, I’ve been ALOT happier. Even on my worse days…I am grateful for not rubbing salt in my wounds by visiting that nut house. 🙂
Try Google. alot of people keep saying I told ya show on it
AOL boards are also brutal
Thats Strange. On the Yahoo Sirius summary page, they have an article titled “FCC APPROVES SIRIUS XM MERGER!” at the top of the news list.
It’s from July 25th, so it’s obviously a mistake. Just thought it was funny.
Friggin
That same article was posted about 45 days ago. I thought the same thing. Must be a mistake. but a second time?
This whole siri this is a mistake
Yeah. The weirdness never ends when it comes to Sirius. This is the most messed up stock I’ve ever been in. I can’t wait for the day when I’m either out or in the money with it. Either way I will be free. I just don’t want to be in “Limbo” anymore.
I think it was posted by someone hoping to help prop the stock up. Yes, this is the 2nd time this has happenned since the original approval notice.
We’re unfortunately ready for a cycle down move on the daily. I sure hope it doesn’t play out.
Just my opinion.
How can posting a 4 month old article stating the obvious(that SiriusXM merged) possibly prop up the stock?
I don’t know what is more absurd, the mistaken re-posting of the article or trying to read into the fact of WHY it was re-posted.
No offense to you SXMinvestor.
As a Sirius investor, I’ve fallen prey to such BIZARRE leaps in logic. We’ve been beaten so much with this stock…not only financially, but emotionally, spiritually, and intellectually, that it has warped our rational brains.
When it comes to Sirius logic goes right out the window, because our hopes, fears and frustrations are all melted together in some twisted mass.
When thinking of Sirius, our brain synapses misfire. We don’t make sense.
Whats the cure? 1) Sell your position, accept the loss, forget you ever owned it, and move on with your life
2) Continue to HOLD your position, accept that it’s price is OUT OF YOUR CONTROL, forget you own it, and move on with your life.
Whatever is going to happen is going to happen. Avoid looking at it. Check in on it less and less until you’ve totally let it go. Come back in a few years and see how it’s doing. You might be pleasantly surprised. Or maybe not. But at least you’ll have lived a full life in the meantime.
I’m trying to accept this and move on myself. It ain’t easy. But I’ve come to the conclusion that the BEST way to let go if I am not going to sell it…is to LIVE. I have to accept the fact that I threw money into something that I may totally lose. Or it may bring me a nice profit. Or perhaps none at all. Maybe sometime down the road I will just cash out at break even or a slight loss.
WHO KNOWS.
The point is, it’s time for me to move on. I can’t control what is going to happen, and holding onto ANY expectations is pointless and keeps me from actively moving on.
The SOONER I let go, the sooner I can get back to living. If I NEED money…I won’t be able to save what I need UNLESS I am FULLY living in the moment.
I look back at the last 2 years and I realized that because of my INTENSE EXPECTATION and BELIEF that the stock was going to POP up HUGE after the merger….I didn’t really work as hard as I could have. Looking back now, I can’t believe how passive I was in moving forward.
Sure, I was working. But I only put enough energy in to make sure I had enough to “survive”. After all, any day the merger was going to be approved, and I’d have the chunk of money I needed to take off on my trip around the world(insert your own goal here).
But as the days wore on with no “merger”…the anxiety grew. I began not to think clearly anymore. I threw even more money in to average down. Which only produced more anxiety.
If I had only stepped back. Taken a deep breath, calmed down and said to myself, “Ok. RELAX. This is out of your control. Keep saving your money. Let Sirius do what it’s going to do!”
2 years later Sirius would STILL be in the same place…but I’d have a chunk of money saved. I could be off on my trip surfing around the world my Sirius shares far from my mind.
Instead, they became the center of everything.
This is the very definition of insanity.
Well, I’ve finally let go. I’m not selling, but I’ve finally learned my great lesson. I’ve felt the pain, and instead of internalizing it…I’ve SPIT IT OUT.
No longer will it poison my system. Fill my mind. Cloud my judgement and effect my life.
It IS what it IS.
No regrets. And no clinging to hope.
It’s time to move on. Whatever happens will happen. Either the shares will be wiped out. Stay the same for years. Or go up. Who knows. Who cares.
Life is too short for obsessing about it. I’ve learned a VERY valuable lesson in this 3 year experience. One that I don’t intend to repeat.
I’ll stop in here from time to time to say hi or to see whats up. But my emotional level will be much more muted and subdued.
Or at least thats my intention. 🙂
Friggin –
Don’t sit by the computer if you are waiting for 1.50 or $ 2.00.
Put a bid in for .25 to buy the new shares you would like at that price if it dips.
Put a sell in at $ 1.50 or 2.00 or whatever you’d be happy with if financing came through and it popped.
Then go surfing or traveling.
The only reason to watch so closely is to day trade, swing trade.
You either can risk the rest of your $ or not and you have to decide now and hopefully not regret your decision one way or another.
I still think that news of merger approved was put there by someone trying to get a positive reaction, but then again my brains are fried over last 5 years, especially last 10 months since the Robert Peck call on Dec 24th that merger decision was imminent and Sirius hit as high as 3.94 and XM close to $ 18.
What an asshole Peck was and always will be for that moronic call. Maybe he had clients that wanted out, but it made all of us think anyday now, anyday for 8 months and then get the biggest screwjob in history of stocks.
I still want to buy back in with alot more shares in the mid – high .30’s and it could be today because their is a small part of me that still believes Mel will pull off financing and stock will rebound nicely on the news.
WOW, Friggin is begining to sound like a new man! This is the most sound thing I’ve heard from u friend. No would have could haves, just accepting responsibility! Imagine if you listened to Cramer after the merger? Did u ever think, he was actually 100% correct about his lotto tix analogy? I know he’s a hipocrit and all that but he was right and we made our own decisions and were completely WRONG. Well we’re still here buying at 40 cents and we still believe in the product and the light at the end of the tunnel so let’s approach this with your new attitude! 1 or 2 years should be very rewarding. If not, we tried to make a sig. move and failed. All successful people who are not afraid of taking on risk have to fail sometimes! It’s a fact of life! I believe selling would be the failing move at this point.
One more thing, if Friggin has lost his hope or passion and just about thrown in the towel, then we’re very close to the bottom.
Only if we knew Mel would be able to refinance for certain.
Well then I guess stock wouldn’t be so low.
Lol. I haven’t lost hope or passion. I’m just REDIRECTING them to other things. Something I should have done over a YEAR ago.
But yeah, I too disregarded my inner voice and put all my hope in Peck’s now infamous, “MERGER IMMINENT!”.
I SWEAR to God the day before that announcement, I was going to sell. I would have lost a chunk. But I’d have had a nice chunk left as well. And would have been at a different place right now for sure.
Anyway….It’s not even been like I’ve been staring at the screen. But that my life, has been on hold as a result of my “waiting”.
Time waits for no man as they say.
And to respond to Kevin…it’s not even that I should have listened to Cramer. After all Cramer was saying it’d go to $5 all thru the winter and Spring before he suddenly changed his tune. Same thing with Peck. It’s obvious he was manipulating the stock now.
The point is, I don’t want to listen to ANYONE but my own inner voice from now on. Sure, I’ll hear what others say. But never will I let that be the ultimate voice. I will always let my inner voice be the ultimate deciding factor.
Sirius was the only stock I have betted on out of hype and what others say….and I will never do that again. I learned my lesson.
I had numerous chances to get out. Sure, in hindsight EVERYONE can claim that. But I know 4 MAJOR times where I was going to get out, but didn’t. I disregarded my own voice and hung my hat on other’s voices.
People who had an agenda of their own that had NOTHING to do with me.
I will NEVER give up that power again.
So, no matter what happens now, I have gained something. 🙂
Hope we get one more down day tomorrow, gonna buy another 1000 shares and lower my average basis to 1.85. And thats gonna be my last purchase, I hope!
Hey Friggin – Ditto on almost everything you said !
The funny thing and one of the only positives I can take out of this nightmare is that it is almost a relief that the stock likely cannot fall much further unless the “B” word and I guess it can only build from here , right ?
When you hit rock bottom like I have, you find positives like this and you come up with a plan to not repeat what you did and take what you learn and apply it.
There is always hope that if not this stock, there is anotehr one out there that could turn in 500% or more returns if you catch it right and you understand and believe in the product & co.
At the end of the day, it is not about Sirius, it is about how much $ shows in your account.
Find a way to chip away and get it back – that’s my plan. Don’t focus on average cost, but focus on how you get back to the $ amount you had.
If you get a big % move and feel it won’t continue or hold the level, just clear out of the stock and go to cash and then you won’t concentrate on average price anymore and can make a plan to slowly chip away or buy in lower.
Their is the risk that you could lose it and maybe at this point waiting on financing and early Nov CC, it is not the best time to sell and wait. It’s so low already, right ?
I am ready to pounce on this stock again because I still believe and think this is the fastest way to get my $ back – massive % gains when Mel gets the financing and turns this around by 2010.
I look at other stocks and not sure they are even heading higher in this market and keep focusing on how many shares I can get with Sirius at .39 or .35.
Hope I’m not wrong and hope I don’t wait too long. As I’m typing this, I have this fear of Sirius trading over $1.00 while I waited for 2 or 3 cents extra downside.
Friggin will be missed here at Sirius Buzz..
Friggen.
Great post. Agree with everything. I worked my way down to 5,000 remaining shares over the last week.
It’s that hard to let this thing go. I remember day after day praying for insight into whether I should stay in this premerger. I kept getting back that I should stay in it.
So in these past three months, I’ve thought about what I wished for. I bought 30,000 shares at an average of $3 friggen. Do the math, it hasn’t been pretty.
Somehow I have this deep feeling, like I needed to learn something very important through this. Like it’s one of those careful what you wish for things. I too got so rapped up in this stock. This merger. It consumed my life.
But selling this week and not buying in and then seeing todays dilution and reverse split items at the annual meeting, made me realize I was in this stock to learn something. Something I somehow was unable to learn in my 51 years of life.
I needed to learn the value of life. Not money. The value of stability. Of long term financial health. Of a budget. Yes as a single man I’ve never had a budget. Today it sits on my desk. I too needed to work harder and gamble less.
I may come into an inheritance one day. And I now have a completely different outlook on what my actions would be if that occurs. I will NEVER. And I mean NEVER invest another dollar in any stock. And I mean ANY stock.
I will get my bills caught up. Work on raising my credit score. Vacation close to home rather than use credit cards. I have gone over every expense including deleting hbo.
So yes. I got hit hard. But, I finally after two marriages and many years, finally learned that I have to live a life that to the best of my ability takes care of my family first at all times. And I wasn’t doing that.
I want to say I have met so many great people who are involved or invested in this company. It pains me daily to think how hurt they have been financially.
Kalm_position recently sold his 1.22 million shares at .40. It’s very sad. It’s not funny. People posting mean things regarding longs should be ashamed of themselves.
For now I’m keeping what I have. I appreciate everyone that posts here regardless of what they type.
I greatly appreciate the efforts of the writers like Tyler and Brandon.
And friggen you have had a huge influence on my evaluating my complete history in this stock and my life. And I thank you for that. And hope to read you more in the coming days.
Socal Running Fool