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Thread: Sirius XM Stock Thread for October 2010

  1. #91
    Hopeful is offline
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    Joined: Nov 2008 Location: Vancouver Island Canada Posts: 583
    Props to John, I agree with SRK!!!

    SRK clean out some PM's

    Jules our dinner might come sooner than we both thought

  2. #92
    Sirius Roadkill is offline
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    Russia launches U.S. telecoms satellite

    Quote Originally Posted by Hopeful View Post
    SRK clean out some PM's
    all clean!

    A Russian Proton-M heavy carrier rocket with a U.S. Sirius XM-5 satellite blasted off from the Baikonur space center in Kazakhstan on Thursday, a spokesman for Russia's space agency, Roskosmos, said.

    The launch took place at 10:53 pm Moscow time [18:53 GMT], the spokesman said.

    "The Russian part of the program will end at 08:05 a.m. Moscow time [04:05 GMT] when the spacecraft separates from the Briz-M upper stage rocket," the spokesman said.

    A contract to launch the Sirius XM-5 was concluded between the Russian-U.S. joint venture International Launch Services (ILS) and the Sirius XM Radio, Inc.

    Sirius XM-5, a powerful geostationary satellite built by Space Systems/Loral, will function as an in-orbit spare for the Sirius XM satellite radio network. All four previous Sirius satellites were launched on Proton rockets.

    MOSCOW, October 14 (RIA Novosti)

    Now lets just hope Goldman Sachs doesn't hire the North Koreans to "accidently" shoot down the Sat so that Mark Wienkes can initiate coverage with a "Conviction Sell" rating . . .
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    Last edited by Sirius Roadkill; 10-14-2010 at 05:29 PM.

  3. #93
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    ‘King of All Media’ Howard Stern will wear his crown somewhere
    By Al DeGaetano | Radio | October 14, 2010

    In 2006 when Howard Stern decided to get out of the confining rat race that was terrestrial radio, he embarked on a journey into the unknown. With two months left on his five-year deal with Sirius XM Satellite Radio it remains a mystery as to where Stern may end up – if anywhere. The consensus is that Stern won’t disappear. The possibilities range from having an internet-only show that will cost less to subscribe to than the $13 a month it costs to have Sirius to simply doing the same show, but fewer hours.

    Stern signed a huge contract, at least according to the mainstream media, with Sirius to basically do the same thing he’d done for the past 30 years: entertain, provoke, and continue to ridicule anyone who deserved it – and even those that didn’t. Only this time he could say whatever he wants without invoking the delay button. The five-year, $500 million contract has been downplayed by Stern over the years as an overblown number, but needless to say Stern is one of the highest paid “personalities” in show business.

    For many years, the attitude toward Stern and his show has puzzled many. The bashing that he’s taken his entire career mostly comes from those who have never heard the show. Perhaps it should occur to those people that the Stern show has been around longer than anything in the history of media, except for some of the soap operas that have endured through the decades. How can someone who evidently has no talent, revels in toilet-bowl humor, interviews porn stars and strippers, has the guts to put on the “Tiger Woods Mistress Beauty Pageant,” garner such an audience? Could it be that the Stern audience is affluent and intelligent?

    Since his introduction to a widespread audience Stern has been great at making money for his employers. Stern has always been a company guy. He needs to work hard to make himself feel that he’s worth whatever money he’s making at the time. Let’s keep in mind that Howard was raised in a frugal Jewish household to depression-era parents who also had family members that were holocaust victims. Stern will turn 57 in January. He’s an old-school guy who believes in hard work. It’s one of the reasons that he despises Les Moonves, currently the President and CEO of CBS Corp. After so many years of being a tremendous moneymaker for the company, Moonves had the audacity to sue Stern when he went off to Sirius. It didn’t only disillusion Stern; it hurt him to his core. He couldn’t believe that after being a company man for that many years that they would do this to him. I’m still waiting for Stern to bring back the bit where he prays that someone he hates gets cancer. It sounds cruel, but it’s great radio, and that’s what this is all about – great radio!

    Low-brow humor isn’t something that Stern invented. What he did do was mix that humor with topical subject matter and more mainstream comedy, and amazing interviews. He makes his long-time listeners feel like part of his family. Stern’s gift is honesty, and that honesty has paid off. He talks about his sexual fantasies, the women he’d love to have sex with, and what he would do to them if the opportunity presented itself. I’m obviously not using his exact words here!

    Not enough credit is given to his supporting cast. Robin Quivers, Stern’s right-hand woman, has been with him for 29 years. Howard took Fred Norris with him soon after landing a gig in D.C. Gary Dell’Abate has been the Stern show producer since 1984. Stern’s loyalty is legend in the business. He claims that he’s unable to fire anyone and worries about where everyone is going to work once he “retires.” And retiring is the big news leading up to the end of this year.

    Stern is as savvy as they come. He has the opportunity to negotiate on the air, but he does it in such a way that comes across as witty and self-deprecating. He’d love a nice three-day a week gig that doesn’t make him wake up at 4 a.m., which is something he’s done now for 24 years. There’s little doubt that he will do something. He has too much to say and would probably drive his wife Beth crazy with his constant needs and wants. Again, Stern freely admits that he’s obsessive-compulsive, neurotic, germaphobic, and sees a shrink three days a week. These are just a few of the reasons that he has legions of dedicated fans that now pay to hear Stern’s rants; everyone from doctors and attorneys, to housewives and truck drivers. There’s something for everyone.

    The most glaring missing “character” in all of the conversation and replays of the past 30 years is Stern’s ex-wife Allison. She was an integral part of the show, as are Howard’s parents, Ben and Rae. It’s no surprise that any material including his ex would be off limits; whether by choice or the terms of his divorce. My belief is that he would have left that material alone regardless. People can demonize him if they like, but he’s a class act and remains all about the family unit. He’s gone to great lengths to shield his children and has done a great job making sure they didn’t turn into Paris Hilton. He took heat for divorcing his first wife and eventually marrying a woman almost 20 years younger. Stern isn’t much of a carouser. He’s a guy that needs to be in a relationship and is abused by his team and the fans because he didn’t go crazy enough after his divorce. He dated Beth Ostrosky for eight years before getting married in 2008.

    Stern addresses his contract situation when phone calls come in from the audience, but doesn’t give much away. The announcement will come when Howard is good and ready. One has to think that discussions with Mel Karmazin, the CEO of Sirius XM, are ongoing. It’s safe to say that the current format will not exist come 2011. Speculation is that Stern will do fewer hours and perhaps fewer days. It will enable him to stay in bed longer and not live and breathe the show. He’ll get to do some of his favorite things like play chess, watch movies, and my all-time favorite, “stare at the walls.” I for one can’t wait to hear the decision. It’s really the most interesting media story out there, but because you have to be a subscriber to hear the soap opera it isn’t so much in the public psyche. You have to be part of the “in crowd” to know the happenings on not only the greatest radio show in history, but perhaps the greatest in the history of media.

  4. #94
    Sirius Roadkill is offline
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    Sirius XM Is a Smart Cookie
    By Rick Aristotle Munarriz
    October 14, 2010

    A panhandling company isn't typically a rallying point, but Sirius XM Radio (Nasdaq: SIRI) shareholders have every right to cheer on new debt after the satellite radio provider announced last night that it had completed an offering of $700 million in new senior notes.

    Let's see what has happened since the announcement.

    •Lazard Capital analyst Barton Crockett is bumping his price target $0.30 higher to $1.65 a share -- reiterating his "buy" rating.
    •Moody's upgraded the company's debt.
    •Shares of Sirius XM opened higher this morning, despite a BGB Securities downgrade and an SEC filing indicating that several states are launching an investigation into the company's consumer practices.
    What might you be missing? Well, it's important to point out that the $700 million debt offering -- originally slated to be just a $550 million deal -- was done primarily to buy back notes that are due in three years. Sirius XM is buying itself five years of repayment time, but that's not all. The new debt bears interest at a rate of 7.625%. The 2013 senior secured notes are yielding 11.25%.

    Yes, Sirius XM is gaining time and interest expense money in the operation. Nice.

    BGB's downgrade is based on valuation, but Lazard's rosier price outlook is the result of Sirius XM's successfully pushing out its debt obligations. Lazard's Crockett claims that the company can now cover the next few years of debt maturities out of its improving cash flow.

    The company's model should continue to improve, as it has added nearly 1.5 million net new subscribers over the past five quarters. Closing in on 20 million subscribers, Sirius XM is the country's second-largest subscriber-based entertainment company. Cable giant Comcast (Nasdaq: CMCSA) (Nasdaq: CMCSK) is the top dog, but its video customers have been declining over the past year. Market darling Netflix (Nasdaq: NFLX), with 15 million couch potatoes on its rolls, is growing faster, but Sirius XM remains the only game in town when it comes to premium radio.

    This doesn't mean that we can handily dismiss BGB's valuation argument. Sirius XM isn't exactly cheap as it now commands a hefty enterprise value of $12 billion. Several attorneys general ganging up with concerns over Sirius XM's billing and marketing practices will be a near-term distraction.

    However, once again, Sirius XM's fundamentals continue to improve. When "valuation" becomes the lone arrow in a bear's quiver, you know you must be doing something right.

  5. #95
    Sirius Roadkill is offline
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    Latest Analyst Round-Up

    BGB Securities – Murray Arenson $1.50
    Janco Partners – Martin Pyykkonen $1.40
    Barrington – James Goss $1.50
    KOAT - Relmor Demitrius $3.25
    Lazard – Barton Crockett $1.65
    Miller Tabak – David Joyce $1.25
    SBCM - Tyler Savery $1.10
    Wunderlich Sec – Matt Harrigan $1.50
    Standard & Poors – Tuna Amobi $1.50
    Maxim – John Tinker $1.40
    RBC – David Bank $1.00

    Crockett was a little behind the curve until today . . but he's learning. Looks like Bank & Savery are still bringing up the rear. David Joyce is sending-out resumes.
    Last edited by Sirius Roadkill; 10-14-2010 at 05:46 PM.

  6. #96
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    Sirius (SIRI) Shares Volatile Amid BGB Downgrade, Raised Price Target at Lazard

    October 14, 2010 12:02 PM EDT

    Shares of Sirius XM Radio (Nasdaq: SIRI) are vacillating between positive and negative territory today as, following news late last night that the S&P raised its credit rating on the company, we are seeing some mixed analyst comments.

    The stock last traded at $1.40, flat from yesterday's close.

    BGB Securities downgraded the stock from Buy to Hold, but raised its price target from $1.35 to $1.50

    Lazard Capital raised its price target on SIRI shares from $1.35 to $1.65 and maintained a Buy rating

  7. #97
    Sirius Roadkill is offline
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    October 14, 2010, 11:05 AM ET.
    Sirius XM: Lazard Repeats Buy Rating; Raises Target To $1.65.

    By Eric Savitz

    Lazard Capital analyst Barton Crockett this morning repeated his Buy rating on Sirius XM (SIRI), while boosting his target on the stock to $1.65, from $1.35. He writes that the company’s debt refinancing “de-risks the balance sheet,” with only $230 million of borrowings due before 2013. “We estimate that Sirius can comfortably pay off all its debt maturities with operating free cash flow,” he writes.

  8. #98
    Sirius Roadkill is offline
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    "Limbaugh earns an estimated $58.5 million annually, amounting to almost $4 a listener, and Sirius XM pays Stern and company $100 million each year, of which Stern gets 80%. Lesser but still popular talk-radio talent earn a lucrative but far more modest 10 cents-$1 a listener."

  9. #99
    just sirius is offline
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    Joined: Dec 2008 Location: San Antonio Posts: 1,209

    You really need to find a have way too much time on your hands...Thanks for all of the updates!


  10. #100
    john is offline
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    Quote Originally Posted by Sirius Roadkill View Post
    I tip my cap to john; you have got to give the man his due . . he nailed the net-ads tighter than a clam's ass.

    If I was Miller-Tabak . . I'd have David Joyce pack up all his shit into a legal box tonight, have security walk him out of the building . . . and move john into his corner office first thing tomorrow morning!

    I am retired and while I am trying to preserve the money I have now, by getting conservatives elected, AND buying rentals (god you have got to love them so. Not only do you get a great tax deduction but in a bad economy, tenants are a dime a dozen and in a good economy, they are a dime a half dozen AND your value for your rental gos up faster). Save the country first and the rest will fall into place.

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