The Motley Fool again today......
On November 17, 2008, at 3:02 PM, DemianBohemian wrote:
For crying out loud, 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..
SIRI has now crawled it's way back to S1 with an hour left to go.....market bloody red.
Out of curiosity, I checked the HD programming selection in my area - not so hot......
Monterey-Salinas-Santa Cruz, CA 107.1 KSES-HD FM Span/CHR Entravision
Monterey-Salinas-Santa Cruz, CA 96.9 KWAV-HD FM AC Buckley Broadcasting
Monterey-Salinas-Santa Cruz, CA 96.9-2 KWAV-HD2 FM Adult Standards Buckley Broadcasting
Monterey-Salinas-Santa Cruz, CA 105.1 KOCN-HD FM Oldies Clear Channel
Monterey-Salinas-Santa Cruz, CA 105.1-2 KOCN-HD2 FM Oldies 50s and 60s Clear Channel
Monterey-Salinas-Santa Cruz, CA 100.7 KPRC-HD FM Span/Oldes Clear Channel
Monterey-Salinas-Santa Cruz, CA 100.7-2 KPRC-HD2 FM Spanish AC Clear Channel
Monterey-Salinas-Santa Cruz, CA 102.5 KDON-HD FM CHR Clear Channel
Monterey-Salinas-Santa Cruz, CA 102.5-2 KDON-HD2 FM Urban Hip Hop Clear Channel
Monterey-Salinas-Santa Cruz, CA 92.7 KTOM-HD FM Country Clear Channel
Monterey-Salinas-Santa Cruz, CA 92.7-2 KTOM-HD2 FM Country Rock Clear Channel
Monterey-Salinas-Santa Cruz, CA 90.3 KAZU-HD FM NPR/Nws/Inf California State University
Monterey-Salinas-Santa Cruz, CA 90.3-2 KAZU-HD2 FM Classical California State University
Monterey-Salinas-Santa Cruz, CA 88.9 KUSP-HD FM Variety Pataphysical Broadcasting Foundation, Inc.
Monterey-Salinas-Santa Cruz, CA 90.9 KHDC-HD FM Varty/Span Radio Bilingue, Inc.
Monterey-Salinas-Santa Cruz, CA 99.1 KSQL-HD FM Mexican Univision Ra
Filed under: Where have they been?
New Merged Satellite Radio Era Launched
Last Edited: Monday, 17 Nov 2008, 1:55 PM CST
Created: Monday, 17 Nov 2008, 1:45 PM CST
Sirius XM Radio Inc./KRIV-TV
New Merged Satellite Radio Era Launched
Sirius XM Radio Inc. said its loss widened to $4.88 billion in the third quarter after the satellite-radio provider booked a hefty impairment charge related to a drop in the company's stock.
Sirius XM was created by the combination of satellite-radio companies Sirius and XM in July. It reported results Monday after the closing bell.
For the quarter ended Sept. 30, the New York-based company's losses widened to $1.93 per share, from a loss of $120.1 million, or 8 cents per share, a year earlier.
The company's results include only two months of operations at XM. It also includes a $4.8 billion impairment charge to goodwill, mostly related to a drop in the company's share price since its agreement to combine in February 2007.
The company's adjusted results exclude the impairment charge and assume the combination of XM and Sirius occurred at the beginning of the year. Those results show that the loss narrowed to $217 million, or 9 cents per share, from a loss of $265.5 million, or 18 cents per share, in the prior year.
Actual revenue more than doubled to $488.4 million from $241.8 million. On an adjusted basis, revenue gained 16 percent to $612.8 million, from $529.2 million last year.
Analysts surveyed by Thomson Reuters, who generally exclude unusual items, forecast losses of 9 cents per share on revenue of $587.4 million.
"Sirius XM third-quarter results demonstrate strong revenue growth, solid cost control and most importantly a clear path to positive cash flow," said Chief Executive Mel Karmazin in a statement. He noted that self-pay monthly customer churn remained flat from last year at 1.7 percent.
The CEO also said total operating costs -- excluding expenses related to the combination -- declined in the third quarter. "In the first 60 days following the merger, Sirius XM is operationally very close to break-even," he said.
Sirius ended the quarter with 18.9 million subscribers, a 17 percent gain over its 16.2 million subscribers at the end of last year's third quarter.
Last week, Sirius XM projected it will end 2008 with 19.1 million subscribers and 2009 with 20.6 million subscribers. The company continues to expect revenue to total $2.7 billion in 2009 and $3 billion in 2010.
Analysts forecast 2009 revenue of $2.69 billion and 2010 revenue of $2.94 billion.
Sirius XM said the difficult economic environment, particularly a dramatic slowdown in auto sales, have hurt subscriber growth for 2008 and 2009. The company generates many of its new customers through sales of cars that have its radios installed at the factory.
Sirius XM said it will delay filing its quarterly report with the Securities and Exchange Commission for up to 5 days to review the required purchase accounting adjustments.
Shares of Sirius XM fell 2 cents, or 6.67 percent, to 25 cents in late morning trading.
Last edited by Demian; 11-17-2008 at 03:19 PM.
When will the bleeding stop?
SIRI closed down .033 @ .23 on super low volume of about 31.1 shares traded.
There were two trades @ .23 that crossed right at the close (or after the close?).......
2,928,744 shares @ 16:00:05
56,133 shares @ 16:00:06
Let it be known i am an optimist...
Closed today at .23...IMO it will be a dime stock by the shareholder meeting in about 30 days...how F&#@$% pathetic can it really get?
Maybe they want to announce a BK at meeting and shock the shit out of those in attendance?
if it continues to lose .01 per day where will it be before the meeting? Unless they announce refinance veryyyyyyyyyy soon..we will be literally a penny stock value. Is this helping mel's plan to F#@% the shareholders real good...get the KY jelly ready.
The market was crashing into the close with the DOW ending up down 233.73, but SIRI ended up down 12.548%.........
Something is very fishy about those last two trades at .23 because the trades before and after were at .244 - so half of the days loss was due to those last two trades....