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Thread: SIRI Intraday Updates for the Week of 11/10/08

  1. #101
    zcurzan is offline
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    Quote Originally Posted by Demian View Post
    Why is this stock hated so much?

    =DJ Sirius-XM Seeks Reverse Stock-Split To Remain On Nasdaq
    By Nat Worden
    Of DOW JONES NEWSWIRES
    Ę Mel Karmazin, chief executive of Sirius-XM Radio Inc. (SIRI), said Monday that the newly-merged satellite radio company has asked its shareholders to approve a reverse stock split so it can maintain listing requirements on the Nasdaq Stock Market. Ę Shares of Sirius-XM closed Monday at just 27 cents as the global credit crisis and economic slowdown threatens to plunge the company into bankruptcy. The company has asked its shareholders to approve a reverse stock split should its board of directors authorize one in order to boost its stock price. Ę "Our interest in a reverse split is motivated by requirements of Nasdaq for us to remain a listed company," said Karmazin on a conference call with analysts following the company's third-quarter earnings release. Ę He also said the company is asking for shareholder approval to issue more common stock if necessary. Ę "The merger with XM and the low stock price eliminated the cushion we had in authorized shares," said Karmazin. "We expect that our shareholders will approve these management and board of directors-supported proposals." Ę -By Nat Worden, Dow Jones Newswires; 201-938-5216; nat.worden@dowjones.com


    Ę (END) Dow Jones NewswiresĘ November 11, 2008 07:37 ET (12:37 GMT)Ę Copyright (c) 2008 Dow Jones & Company, Inc.- - 07 37 AM EST 11-11-08
    IMO, it looks pretty factual to me with one caveat: the failure to mention the extended requirements regarding delisting.

    Let's face it, if you make knee jerk decisions based on DJ newswires with your investments, you have bigger problems than a down economy. And if you are invested in SIRI you should already be well aware of the extended circumstances for stocks under $1.

  2. #102
    APEXSPORTS is offline
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    THE REAL MONEY WILL NOT COME INTO THIS STOCK TILL A FEW QUESTIONS ARE ANSWERED..

    1. MEL SAYS DEBT REFINANCED..

    2. FURTHER DILUTION ANSWERED..

    THATS THE FACTS AND THOSE WONT BE ANSWERED TILL DEC 18TH AT PROXY MEETING.. THE R/S IN A NON ISSUE WITH BIG MONEY AND A STOCK ABOVE 5$ WOULD BE ATTRACTIVE TO BIGGER FUNDS..

    THE NAZ IS DOWN 3-5 % TODAY AND WE WILL RETEST OCT LOWS OF 1500 ALL WE CAN HOPE IS SIRIUS HANGS ON TO THAT .25- .28 RANGE TILL WE SHOW A TRUE BOTTOM.. THEN WE MAY START TO TRADE UP..

    YOU OWN THIS STOCK FOR A FEW REASONS ONLY..

    1. YOU LIKE THE SIRIUS XM STORY.. MONOPOLY..

    2. GROWTH IN NEW MEDIUMS

    3. CONTENT IS KING

    4. THAT WE WILL BE PROFFITABLE NEXT YEAR I THINK NEXT Q4 WE WILL BE..

    5. THIS IS A 1-3 YEARS INVESTMENT THAT CAN RETURN 1000%-2000% BUT ITS NOT GOING TO HAPPEN IN A DAY OR A MONTH OR A YEAR..


    THOSE ARE THE FACTS LIKE THEM LOVE THEM HATE THEM THATS IT..

    WAR.. STEELERS FINDING RUNNING GAME,SALUTING VETERANS AND THAT WE BOUCE OFF OF OCT LOWS ON THE NASDAQ....

  3. #103
    Demian is offline
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    Quote Originally Posted by zcurzan View Post
    IMO, it looks pretty factual to me with one caveat: the failure to mention the extended requirements regarding delisting.
    "Sirius-XM Seeks Reverse Stock-Split To Remain On Nasdaq"

    This headline is misleading. Seeking to have the authority is not the same thing as seeking to do it. I am sure that they are seeking to get the stock price up to remain on the Nasdaq......unless Michael Hartleib is right.

  4. #104
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    New XM channel lineup....


  5. #105
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    http://www.satellitetoday.com/st/headlines/25732.html

    XM Canada Narrows Net Loss, Increases Revenue
    November 11, 2008

    [Satellite Today 11-11-08] Canadian Satellite Radio Holdings Inc., which offers the XM Satellite Radio service in Canada, XM Canada, narrowed its annual net loss for fiscal 2008 to Cdn. $74.3 million (U.S. $63.5) as company revenues rose to $39.5 million ($33.7 million) from $21 million ($17.9 million).
    XM Canada said it lost $1.55 ($1.34) per share for its fiscal year ending Aug. 31 compared with a net loss of $84.6 million ($72.3 million) or $1.78 ($1.52) per share in 2007.
    CEO Michael Moskowitz said that his company’s key priorities of managing its cost structure and driving the highest value initiatives are paying off. “We ended the fiscal year with two consecutive quarters of positive cash flow,” he said. “For the first time we reported pre-marketing adjusted operating profit of over $2 million ($1.7 million).”
    Moskowitz said that XM Canada sees “significant opportunities for growth” in 2009 in the automotive sector, which represents 42 percent of the company’s self-paying subscribers, up from just 28 percent from 2007.
    During 2009, XM Canada said it will work to boost customer loyalty and retention, target current subscribers with multiple radios and accelerate the rate of factory installations in Canada.

  6. #106
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    SIRI closed down .02 @ .25 a share on low volume of only 37.2 million....

    Right on Mark Wienkes (GS) target of 25 ****ing cents.......

  7. #107
    Demian is offline
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    The Motley Fool - continuing their daily bashing of SIRI....

    http://www.fool.com/investing/small-...mentsBoxAnchor


    On November 11, 2008, at 4:44 PM, DemianBohemian wrote:

    SIRI is not down 100%........comparing SIRI to Enron is typical of your misleading bashing of SIRI that The Motlet Fool does on a daily basis...

    Yet another worthless Motley Fool article mentioning SIRI. The Motley Fool recommended XM as a stand alone company to their paid subscribers at over $30 a share and have been bashing the combined company down in the pennies day after day. What kind of pump and dump operation are they running? It's quite amazing that they release so many articles day after day with the SIRI ticker symbol in them. They have lost all credibility and are now fishing for hits from the gullible...

  8. #108
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    Ameriprise bought 168.51 million shares of SIRI....

    http://www.bloomberg.com/apps/news?p...d=absO75SUQ6qo

    Ameriprise Sirius XM Radio SIRI 168.51

  9. #109
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    http://seekingalpha.com/article/1054...can-boardrooms

    Sirius, GM, AIG: Where Is the Leadership in American Boardrooms?
    November 11, 2008 | about stocks: SIRI
    Ashkan Karbasfrooshan

    Finding out that XM Sirius (SIRI) lost nearly $5B in the third quarter (not spent, or in the year, we’re talking losses in three months) is akin to finding out that the pizza parlor next to our office spent $13M in green peppers. It’s shocking, criminal, numbing.

    Is this what the US “leaders of industry” have come to? Mel Karmazin, a media guru, orchestrates this joke of a merger and proceeds to lose $4.88B in three months? Sure, satellite radio is reliant on the car industry, but don’t even get me started on those guys. Where does it say in the Bible that “thou shall be Three Big Carmakers, and the US taxpayer shall compensate for their mismanagement…”

    And if that’s not enough, we find out that AIG needs a bailout… from its bailout.

    A joke, this is what the US economy is right now. My favorite part about this crime is the fact that the Republicans were calling Barack Obama a socialist and we’re now seeing socialism across the board, from Manhattan, down to Washington DC, via Detroit and on to SF.

    What on earth is happening in board rooms?

    Where is the leadership?

    We need Jack Welch, Warren Buffett et al to barge into some of these board rooms with a few baseball bats and toss these criminals out of these companies and onto their arses. Why on earth should your average, hard-working American pay taxes these days? Tell me, why?

    All right, I feel better… let me go read about the next round of layoffs.

  10. #110
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    http://www.allheadlinenews.com/articles/7012994076

    Sirius XM Radio Posts Q3 Loss But Tops Revenue Estimates
    November 11, 2008 6:31 p.m. EST


    Mitchell Jaworski - AHN Reporter
    New York, NY (AHN) - Sirius XM Radio Inc. announced Tuesday it lost $4.88 billion in the third quarter due to a large stock related charge associated with the merger. However, revenue grew 16 percent, topping estimates.

    Sirius XM, which was created early in the third quarter when the Sirius Satellite and XM Radio merger was completed, posted a third quarter loss of $4.88 billion or $1.93 a share.

    Adjusted earnings, which exclude the write-down and only account for business done under the new entity, showed a loss of $217 million or 9 cents a share. This compares to an adjusted loss of $265 million or 18 cents a share in the same period last year.

    Total revenue surged to $488.4 million from $217 million due to the merger. Adjusted, revenue growth was still robust, up 16 percent to $612.8 million from 529.2 million last year. The result topped analyst estimates for revenue of $587.4 million, according to Thomson Reuters.

    "In the first 60 days following the merger, Sirius XM is operationally very close to break-even," said CEO Mel Karmazin.

    The average churn rate, which measures the frequency subscribers cancel service, stay relatively flat at 1.7 percent.

    However, the company did see a fall in conversion rate to 47 percent from 50 percent. The conversion rate measures the percentage of people who continue to receive service after the promotional period ends.

    Sirius ended the third quarter with 18.9 million subscribers, 17 percent more than last year.

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