Demian.... In your opinion (which is valued) are those 100 share trades indicative of short buying again? Will this drive the stock down again to .10 or .11. What will the delay in reporting till 3/17 cause the pps to do?
Demian.... In your opinion (which is valued) are those 100 share trades indicative of short buying again? Will this drive the stock down again to .10 or .11. What will the delay in reporting till 3/17 cause the pps to do?
Ergen be losing subs......
http://finance.yahoo.com/news/Dish-N...-14509133.html
Dish Network profit up despite subscriber decline
Monday March 2, 2009, 8:09 am EST
NEW YORK (Reuters) - Satellite TV provider Dish Network Corp (NasdaqGSISH - News) posted higher fourth-quarter profit on Monday despite losing more than 100,000 subscribers.
Net income rose to $216.6 million, or 48 cents per share, from $175 million, or 39 cents a share, a year earlier.
The results were in line with the analysts' average forecast, according to Reuters Estimates.
Revenue rose 1 percent to $2.92 billion, just shy of the analysts' view of $2.95 billion.
Dish Network, controlled by entrepreneur Charlie Ergen, said it had a net loss of 102,000 subscribers, compared with a year earlier, when it added 85,000.
A poll of five Wall Street analysts had on average forecast Dish to add about 20,000 subscribers.
Howzatt-
I wouldn't be too concerned about this language you quote (see below). There are various kinds of warnings mandated by the SEC in many documents which sound scary, but which are there just because they are required as "full disclosure" for potential investors. Unless I am wrong, this seems to be that type of language.
You said:
The following is from the notification of late filing...
"Management has not yet completed its evaluation as to whether substantial doubt exists relative to the Company’s ability to continue as a going concern for a reasonable period of time. A significant element of that evaluation relates to uncertainties associated with funding of amounts stipulated in the aforementioned Investment Agreements. These uncertainties may not be resolved by the time the Company files its Form 10-K with the Securities and Exchange Commission. In the event such uncertainties remain unresolved, management anticipates that KPMG LLP’s auditors’ report relative to the Company’s 2008 consolidated financial statements will contain an explanatory paragraph indicating substantial doubt about the Company’s ability to continue as a going concern."
What does this mean?
Last edited by SteveSirius; 03-02-2009 at 11:19 AM.
The 100 share blocks were helping to bring the price down earlier. I would see 100 share blocks coming through below the bid and ask, even though there was volume at higher levels. I don't know how they do that....very strange. Even with this morning's pullback, SIRI is still in it's uptrend channel - look at a 2 week 60 min and the 10 min charts...
I don't know where the stock will go for sure, but I'm thinking that the 50 DMA will offer support and eventually the stock will springboard off of that. I have been saying this about the 50 DMA for awhile now.....
Look at the 50 DMA on this chart.......it's the blue line.
http://stockcharts.com/h-sc/ui?s=SIR...d=p89775725136
As far as the CC being delayed until the 17th goes, I don't know how to game that. It could be a positive that the SR Mgt. says that they are focused on refinancing? There could be more of a speculative run up going into it now that it isn't until the 17th? Who knows? I don't yet...
Last edited by Demian; 03-02-2009 at 11:35 AM.
Thanks again Demian for your opinion...much appreciated.
Wasn't it a term of the loan from Liberty that this type of comment (doubt about the Company’s ability to continue as a going concern) was NOT in the Q4 before they would lend more ... haven't had the time to go back and look but something sticks in my mind that this will be "not good" if the term is included in the Q4 report!!
Last edited by RickF; 03-02-2009 at 11:50 AM.
the on going concern for the company is bad ,because it means the second part of the liberty finance deal is off,and they will have to find more money somewhere..I beleive it also puts a timeline on the first part being paid back also...not good,that is why it says Management trying to refinance and needs more time,the accountants won't gor for the report without it...
=DJ 2nd UPDATE: Dish Network 4Q Net Up 24%; EchoStar Loss Widens
By Roger Cheng
Of DOW JONES NEWSWIRES
Satellite mogul Charles Ergen, who controls Dish Network and EchoStar, made a failed play to help save satellite-radio operator Sirius XM Radio Inc. (SIRI) from bankruptcy in return for control of the company as he looked to expand his reach in the satellite sector. Liberty Media Corp. eventually threw a lifeline to Sirius.
EchoStar, meanwhile, posted a net loss of $690 million, or $7.73 a share compared with a year-earlier net loss of $45 million, or 51 cents a share. The latest results included $654 million in write-downs and acquisition charges.
Revenue rose 37% to $496 million.
Of course we are all looking for meaning in any statement put out by Sirius XM. I wonder if their putting off their 4th quarter results is simply because of the reason they have stated - that they have been busy dealing with their current financing needs. Perhaps this delay is neither good nor bad news.
If there is any good news in the next couple of weeks, that good news will influence the reaction to any bad news in the 4th quarter report. Of course, the reverse is also true.