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Thread: Sirius Weekly Thread Week of 01-04-10

  1. #1
    SiriMonkey is offline

    Sirius Weekly Thread Week of 01-04-10

    Good Morning and Happy New Year,

    New Year. New Beginning.
    Time to renew the enthusiasm for our beloved Sirius.

    Time to forget about the disappointments, the pain, the
    abandonment we felt during 2009. Put aside the fear,
    the wairness, the mistrust that was so last year!

    The mantra, Onward and Upward.
    Positive thinking but with my eyes open.

    And see the movement is on. Up .03 already!

    The very best to all of you this coming year and beyond.

    Julie

    Those of you quickly scanning my post for an update
    on Michigan weather, I will not disappoint.
    A blanket of snow has fallen, temps in the low 20's. Gray skies.

    Winter sucks.

  2. #2
    Sirius Roadkill is offline
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    theculdesac.com

    JC's buddies must be getting ready to dump . . .

    Sirius XM Radio Stock Jumps

    By Andrea Tse 01/04/10 - 01:57 PM EST

    NEW YORK (TheCuldesac) -- Sirius XM Radio(SIRI Quote) shares soared in midday trading Monday after Bank of America Merrill Lynch (BAC Quote) initiated coverage of its high-yield bond, pointing out its investment attributes. Sirius, which offers commercial-free satellite radio programs, jumped by 5% to 60 cents.

    Sirius's investment attributes, according to the Bank of America Merrill Lynch, include Sirius's ability to survive an economic downturn much better than its ad-depending peers through its subscription-based business model; a sizable subscriber base; a still relatively small (less than 10%) penetration rate of the entire domestic automobile base -- amid growing OEM penetration -- with the used car market providing additional opportunity; a credit trajectory at a favorable inflection point, with enhanced benefits likely accruing over time, given reduced post-merger competition; and strategic asset value.

    Bank of America Merrill Lynch says that Sirius will "handily exceed" its initial 2009 EBITDA guidance of $300 million, while mentioning that possible near-term headwinds may still include lingering economic issues and weakness in OEM production.

    Sirius's industry peers have been trading in mixed territory with Citadel(CTDB Quote) trading up 6.3% to 2 cents and Cumulus Media(CMLS Quote) trading down 1.3% at $2.30. Westwood One(WWON Quote) remains flat at $4.50.

  3. #3
    Havakasha is offline
    Things are looking up it seems. Just hoping for slow and steady progress determined by facts on the ground.
    Last edited by Havakasha; 01-04-2010 at 03:35 PM.

  4. #4
    Sirius Roadkill is offline
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    Ratings Update 1-4-10

    Comparing the SmartConsensus
    to its Constituents Ratings

    Provider Rating

    Thomson Reuters Outperform
    Standard & Poor's HHH
    Market Edge Second Opinion Neutral
    SmartConsensus Hold

  5. #5
    Havakasha is offline
    Can you translate SRK?

  6. #6
    Sirius Roadkill is offline
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    S&P

    After a somewhat lackluster 2009 first half
    (despite the cash-for-clunkers program), SIRI in
    early November reported what we saw as relatively
    encouraging results for the third quarter,
    and we see further expected benefits from an
    improved outlook for U.S. auto sales in 2010.
    We are cautiously optimistic on certain new
    applications for iPod/iTouch users which, over
    the longer term, could help stimulate demand
    and reduce churn. Also, we note a recently enhanced
    maturity profile for SIRI's relatively high
    debt, which we view as critical.

    Our 12-month target price of $1.00 reflects
    nearly 2.5X 2010 EV/Sales, 10X EV/EBITDA or
    about $250 per subscriber, which we view as
    ample on slower growth prospects.We also
    note SIRI recently had almost $7 billion of unused
    net operating loss carryforwards.

  7. #7
    Sirius Roadkill is offline
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    Quote Originally Posted by Havakasha View Post
    Can you translate SRK?
    Hi Lloyd

    Pretty much the same-old, same-old . . .

    S&P w/3 Stars and a Hold Rating and $1.00 Target

    Thomson Reuters staying with "outperform"

    The only analyst I ever saw accurately predict the price and direction of Siri was Mark Wienkes of Goldman Sachs . . . and that was clearly a case of the tail wagging the dog . . .
    Last edited by Sirius Roadkill; 01-04-2010 at 03:46 PM.

  8. #8
    Sirius Roadkill is offline
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    Quote Originally Posted by Havakasha View Post
    Things are looking up it seems. Just hoping for slow and steady progress determined by facts on the ground.
    Agree. Fundys look pretty sound right now . . . just waiting for the street to catch-on and catch-up . . . .

  9. #9
    Havakasha is offline
    Thanks for the info.

  10. #10
    SiriuslyLong is offline
    Guru
    SiriuslyLong's Avatar
    Joined: Jan 2009 Location: Ann Arbor, MI Posts: 3,560
    Giva giva giva garmin

    http://satwaves.com/blog/2010/01/05/...s-from-garmin/

    ATT + DTV + Apple + SIRI + Garmin = global communication / entertainment

  11. Ad Fairy Senior Member
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