Here is the trade below the bid and the ask right at the close......then a whole bunch went flying through @ .116 in the few seconds after 16:00:00.
16:00:00 $ .116 25,000
15:59:57 $ .129 3,300
15:59:57 $ .129 1,550
15:59:57 $ .129 2,000
15:59:57 $ .135 12,000
15:59:57 $ .13 100
15:59:57 $ .13 100
15:59:57 $ .13 100
15:59:57 $ .13 100
15:59:57 $ .13 24,600
Last edited by Demian; 12-19-2008 at 05:27 PM.
http://www.radioink.com/HeadlineEntr...&pt=todaysnews
A Lifetime With Sirius XM For $300
NEW YORK -- December 19, 2008: Sirius XM Radio is offering its lifetime subscription plan for $300 to existing XM subscribers via spots on XM and e-mail offers, Motley Fool reports today. That's a $100 discount on its usual price for the deal.
Says Motley Fool, "This offer is so hush-hush -- targeted only to existing subs -- that even XM's pricing plan page is devoid of any information. Interested XM listeners are simply referred to a toll-free number to hash it out directly with the company."
Motley Fool points out that if a million subscribers take up Sirius XM on the offer, that will bring in "more than enough" cash to get past the planned February debt refinancing.
Notice the negative spin the author puts on things, failing to mention the Nasdaq's 30 and then 180 business day extensions...
http://blogs.wsj.com/deals/2008/12/1...ue-a-lifeline/
December 19, 2008
Sirius XM: Is Auto Maker Rescue a Lifeline?
Posted by Heidi N. Moore
The Detroit Three auto makers have been thrown a lifeline by the White House, but there is no such luck for Sirius XM Radio.
And much like General Motors and Chrysler, Sirius XM is looking for a way to postpone the disaster many fear is be coming.
The satellite radio provider has about 70% market share of new car production at GM, Ford and Chrysler. “That bodes well as long as these auto makers continue making cars, which, unfortunately, is a source of some investor uncertainty at this point,” wrote J.P. Morgan analyst Barton Crockett in a Nov. 13 report.
Since then, Sirius XM’s providers have called time outs for new production. Chrysler this week said it would halt production at all 30 of its factories until Jan. 19. Ford is extending its own planned new-production halt for another week in January. Ford plans to cut its first-quarter production 42% from last year and Credit Suisse expects a 52% decline for Chrysler. The first priority for the auto makers is get rid of excess inventory, which Credit Suisse estimated at 31% above normal at the end of November.
The satellite radio company says it added 344,000 new subscribers in the third quarter, a period in which revenue rose 16% to $613 million when calculated as if Sirius Satellite Radio holdings and XM Satellite Radio were merged in both quarters. But shrinking production of new cars makes it more difficult for Sirius to record increases in subscriber numbers and to boost revenue.
Meantime, Sirius XM is fighting to keep its Nasdaq Stock Market listing. The company’s shareholders approved the issue of 3.5 million more shares and a reverse stock split. Both moves were taken to avoid banishment by the exchange, which gave Sirius XM a January 20 deadline to start boosting the price of its shares above $1 or be delisted. (The Nasdaq today said it would not pursue the delisting of any companies, including Sirius XM, until April 20.)
But boosting the share price may not be achieved by simple stock-split mechanics. Stock price is after all a measure of how much faith investors have in a company. And the company faces the far higher hurdle of instilling confidence in investors–who have driven shares down to 13 cents. Skepticism reigns that Sirius XM will be able to increase its profit next year or refinance $1 billion of debt by February. “Because Sirius has to refinance $1b of debt in 2009, while generating no free cash flow now, during the worst credit markets in a generation, the shares are too risky for us to recommend now,” J.P. Morgan’s Crockett wrote.
Sirius does have something of a lifeline in the form of a $100 million line of credit it has never had to use. But to access it, the company needs to maintain a market cap of $1 billion. Today, Sirius XM’s market cap is $487.31 million.
Update: We updated the Nasdaq delisting deadline, which was moved this morning, and clarified the stock issue.
Last edited by Demian; 12-19-2008 at 05:40 PM.
http://www.mediaweek.com/mw/content_...f3d8f5cb29de42
Sirius XM CEO: Revenue Up Over Last Year
Dec 18, 2008
-By Jeffrey Yorke, Radio and Records
XM Sirius CEO Mel Karmazin
Sirius XM expects to conclude the year with 19.1 million subscribers and revenues of $2.4 billion, up from $2.1 billion last year, CEO Mel Karmazin told attendees of the newly merged satellite radio operation during an annual shareholders meeting Thursday (Dec. 18) in Manhattan.
Despite a hideous year of slowing sales by vehicle manufacturers, the satcaster forecasts that 2008 will end with about 500,000 more new vehicle subscriptions to the satellite service for a total of 5.8 million, more than the 5.3 million achieved during the previous year by Sirius and XM operating as separate entities. The company expects subscriptions to be sold in 50 percent of all new cars in 2009 and to end 2009 with 20.6 million subscribers and revenues of about $2.7 billion.
While satellite radio subscriptions continue to grow, there is evidence that they are slowing. The company said it gained 10 percent more subscribers this year, compared to 27 percent growth in 2007 and a whopping 48 percent growth in 2006.
Declining subscriber growth aside, the company argued it is among the fastest growing U.S. media businesses. Sirius XM expects to grow 2009 revenues by 13 percent compared to a 9 percent gain by DirecTV, 8 percent by Cablevision, 6 percent by Time Warner and Comcast, 3 percent by Dish Network, while terrestrial radio is estimated to decline 9 percent.
By merging operations, Sirius XM expects combined synergies to save it $429 million in 2009. It has also cut its staff by 22 percent, dropping its headcount from 2,058 to 1,600 by year's end.
In November, the company concluded a "channel rationalization" realignment, and subsequently eliminated duplication on its 130 music channel lineup, which dropped to 67 music channels, 63 of them shared by the separate Sirius and XM services. There were 164 talk/sports channels reduced to 147 channels. Sirius has 75 talk/sports channels, while XM has 134 channels (including part-time channels) and there are 38 shared channels. In a filing with the Securities and Exchange Commission Thursday, the company reported that the channel reductions will save $35 million annually and that there were 10,000 consumer cancellations in the wake of the realignment.
By way of long range guidance, Sirius XM expects subscriptions to grow at an impressive clip in the coming years, jumping from an estimated 20.6 million in 2009 to 22.1 the following year, to 24 million in 2011, to 26.2 million in 2012 and to 28.4 million by 2013 with revenues reaching $4.1 billion that year.
But, before any of that happens, the company has to clear some major debt hurdles in the coming months. Karmazin said that among the management priorities is resolving the 2009 liquidity problem by restructuring and reducing a total of $995 million in debt, some $209 million incurred by the old Sirius that is due in February, and $350 million of old XM debt that matures in May 2009. Other management focus points, Karmazin said, include maximizing synergies, growth EBITDA and free cash flow, maintaining growth, and, the vintage Wall Street/public company adage, "enhancing shareholder value."
HUGE volume in AH.....
Sirius XM Radio Inc.
Dec. 19, 2008 Market Close: $ 0.116
After Hours Trade Reporting
After Hours
Last: $ .1221
After Hours
High: $ .13
After Hours
Volume: 55,794,074
After Hours
Low: $ .111
After Hours
Time (ET) After Hours
Price After Hours
Share Volume
16:58 $ .1221 7,091,500
16:58 $ .1221 7,091,500
16:58 $ .1221 7,091,500
16:58 $ .1221 7,091,500
16:58 $ .1221 7,091,500
16:58 $ .1221 7,091,500
16:58 $ .1221 7,091,654
16:58 $ .1251 3,000
16:54 $ .125 2,820
16:53 $ .125 2,000
16:53 $ .125 2,500
16:53 $ .125 1,000
16:53 $ .125 5,000
16:52 $ .125 5,000
16:51 $ .128 5,000
16:51 $ .1281 3,400
16:51 $ .1284 1,600
16:51 $ .1251 11,020
16:49 $ .128 5,000
16:46 $ .1251 4,880
16:46 $ .117 48,294
16:45 $ .126 5,000
16:45 $ .126 5,000
16:41 $ .116 558,662
16:39 $ .111 1,367,686
16:37 $ .1281 1,600
16:36 $ .116 331,100
16:35 $ .113 81,600
16:35 $ .1275 4,900
16:35 $ .1277 5,000
16:35 $ .1284 100
16:31 $ .115 8,677
16:30 $ .122 100
16:30 $ .1135 25,000
16:29 $ .111 248,280
16:29 $ .1275 100
16:28 $ .111 1,367,686
16:28 $ .123 2,000
16:28 $ .1221 5,000
16:28 $ .122 1,000
16:27 $ .127 5,000
16:27 $ .127 5,000
16:26 $ .1285 5,000
16:26 $ .113 127,277
16:25 $ .122 2,000
16:24 $ .124 500
16:24 $ .1212 200
16:22 $ .1289 3,000
16:21 $ .116 331,100
16:19 $ .1242 100
Last edited by Demian; 12-19-2008 at 06:00 PM.
any1 think that MAYBe THIS is the bottom?
i was just about to post up the AH volume. What is going on????
I give up on trying to understand anything on this stock.......
How about the 7 trades at 16:58 for 7 mil each???? Why would someone buy over 49 mil shares @ .1221 when a low of .116 was just established? That's a $300,000.00 difference.
.11 cents,,,,,,,,,,
What is there left to say?
A company that is hitting or beating EVERY estimated number. $2.7b in rev next year. Documented synergy savings. Dilution and rs approved which assures they will not go BK. Not to mention they must have over $500m in cash on hand.........
Where's the justification for a $407m cap????????????
When does this story make sense?
There is another possibility for the action today: End of year Institutional Window dressing!
With the holidays coming up, I am not sure when the last settlement day is. However, institutions like to clear their books at end of quarter and particularly at end of year so as not to show that they owed stock like SIRI when they send out their glossy quarterly or annual reports. Just a thought!
There is another possibility however. The word spread like wildfire on Wall Street that Newman liquidated his shares of SIRI, for those of you who are new here.
Keysmark
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