looks like we could close over $4.00 today
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looks like we could close over $4.00 today
Great news for TheDog this morning. I am unclear as to whether the $2bn buy back is in addition to the 500 mn Liberty shares they will purchase or that is the purpose of the buy back. I guess we will know in about an hour......GLTA
EDIT: It's $500 mn dollar amount in participation not 500 mn shares as I stated above. Will be part of the new $2 bn buy back.
http://biz.yahoo.com/e/131010/siri8-k.htmlQuote:
Form 8-K for SIRIUS XM RADIO INC.
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10-Oct-2013
Other Events
Item 8.01 Other Events
On October 9, 2013, we entered into an agreement (the "Agreement") with Liberty Media Corporation to repurchase $500 million (the "Shares") of our common stock, par value $0.001 per share (the "Common Stock"), from Liberty Media at a price per share (the "Per Share Price") equal to a 1.5% discount to the average of the daily volume weighted average price ("VWAP") per share of the Common Stock during the ten-day period beginning on the third trading day following the date of the public release of our third quarter 2013 earnings, which average daily VWAP shall not be greater than $4.18 or less than $3.64.
so we won't be going much over 4.00 in the near future then
Cramer just said on CNBC, "this stock is not done going higher"
I was hoping for one more down day.... Looks like the DJIA bounce right off the 200 day MA
That's a big ol' gap at the open for SIRI!
I thought the same thing with a floor of 3.64 and ceiling of 4.18. Looks like a range they have negotiated to sell the shares. Ideally, the market will push the shares higher and SIRI will be buying back at a discount to the market of + 4.18 at the time of the transactions.
sure hope you are right denco!!
If the Macro doesn't fall apart we should be in good shape.
Interesting that MEYER did not increase any guidance before the Q3CC and we are still at the upper end of the gap up. Dog is acting with quite a bit of strength so far.
EDIT: Of course, currently the Macro isn't getting in the way and actually helping as the majority of stocks have gapped up this morning.
We'll call this GAP UP THURSDAY
I just couldn't pull the trigger yesterday on any stocks with the high volume everything sold off at.