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Thread: SIRI Intraday Updates for the Week of 10/13/08

  1. #101
    Demian is offline
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    An hour left to go......

    If SIRI can bounce off of this level into the close, it would be a really nice double bottom on the chart. Pray that the recent 52 week low of .36 holds......

    SIRI @ .3711 after bouncing off of .3651........

  2. #102
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    http://www.radioink.com/HeadlineEntr...&pt=todaysnews

    Reverse Stock Split For Sirius XM?

    NEW YORK -- October 17, 2008: Sirius XM radio said in a filing with the Securities and Exchange Commission Thursday that it it seeking shareholders' approval to declare a reverse stock split, with a ratio of between 1-for-10 and 1-for-50.

    In a reverse stock split, shares are combined to bring up their value. SIRI shares were at 37 cents in Friday-afternoon trading; a 1-for-10 reverse split would combine 10 shares into a single share worth $3.70.

    A reverse split could help Sirius XM avoid delisting from the Nasdaq exchange; the company said in its SEC filing, "Although our common stock's trading price has not been below the $1 per share level for 30 consecutive trading days (the length of time the trading price would need need to be below the minimum trading price before the Nasdaq Global Select Market could initiate delisting procedures), we believe that approval of this proposal would significantly reduce our risk of not meeting this continued listing standard in the future."

    Sirius is also asking shareholders to give their permission for it to issue more stock, allowing up to 8 million shares, up from the currently authorized 4.5 billion.

  3. #103
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    Demian, Thanks

    I do not comment or post very often, but I read these forums every day.

    I want to thank you for posting these news updates. I hope you can find the time to continue.

    Keysmark

  4. #104
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    Quote Originally Posted by Keysmark View Post
    I do not comment or post very often, but I read these forums every day.

    I want to thank you for posting these news updates. I hope you can find the time to continue.

    Keysmark
    Thanks Keysmark!

    I will try, but I could use some help and company on this board! It gets lonely here. I am trying to make this a vibrant place of conversation on the daily intraday happenings of SIRI.....I hope that more people will get involved and help out. I'm trying to keep it moving until more people get involved...
    Last edited by Demian; 10-17-2008 at 04:44 PM.

  5. #105
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    http://www.rwonline.com/pages/s.0100/t.15967.html

    Layoffs Hit Sirius XM

    10.17.2008

    Satellite radio forums were buzzing this week about the impact of cuts at their favorite satellite music channels.

    Sirius XM laid off at least 50 employees this week, the Washington Post reported. Other published reports have put the cuts at around 80 people. Most are believed to be from the XM half of the company.

    The organization itself wasn't commenting about the personnel reductions.

    The cuts includes on- and off-air workers, according to two affected employees who spoke to the Post.

    The specter of staff reductions had been surmised by industry observers since the conclusion of the merger of the satellite companies. The company has already shed some XM executives, as we've reported. Most of the management team for the merged entity comes from Sirius, which acquired XM in the deal.

    President/CEO Mel Karmazin told attendees of an investor conference recently that rather than $400 million in savings from merging, the company has found $425 million for 2009. The company projects posting an adjusted loss of $350 million this year. It has some $1.1 billion in debt due in 2009.

  6. #106
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    The market sold off into the close - the DOW closed down 127.

    SIRI closed at .377.............like those lucky 7's?

    If the stock can get some traction from here, a nice double bottom will have been put in place on the chart - as it bounced off of .36 today. Holding .36 was key. We will see on monday if SIRI can get some traction from here...
    Last edited by Demian; 10-17-2008 at 05:06 PM.

  7. #107
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    SIRI is holding and bouncing off of .36 in AH......

    .36 does not have to hold for there to be a double bottom, but it can't really go too much below that. It would be much cleaner and clearer if .36 holds...

  8. #108
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    http://www.forbes.com/feeds/ap/2008/...ap5571158.html

    Sirius CEO makes $5.27 million in 2007
    By DEBORAH YAO 10.17.08, 5:24 PM ET

    The chief executive of Sirius XM Radio Inc. received $5.27 million in compensation for 2007, according to a Friday regulatory filing in which the company asked shareholders to approve a reverse stock split to boost the share price so it won't violate stock listing requirements.

    Mel Karmazin, whose 5-year employment contract with the satellite radio company expires next year, received a salary of $1.25 million, a cash bonus of $4 million and retirement benefits worth $18,743.

    Sirius (nasdaq: SIRI - news - people ), whose merger with rival XM closed in July, also said it plans to enact a reverse stock split before the end of 2009. The company said the split, designed to boost the stock price by reducing the number of outstanding shares, would range from 1-for-10 to 1-for-50.

    The stock had hovered around the $3 to $4 range last year, but fell below $1 in September as the credit crisis worsened. Sirius has $1.1 billion in debt due in 2009, and the environment for refinancing is difficult.

    Sirius said its shares have to stay at $1 or higher to continue listing on the Nasdaq. Closing below a dollar for 30 consecutive business days would trigger a Nasdaq warning to meet compliance requirements initially for 180 days or face delisting. Sirius, which began trading below $1 on Sept. 19, said it meets all of the Nasdaq's other listing standards.

    Sirius said Karmazin's bonus last year was based on his role in adding new subscribers to the company, generating free cash flow in the second half of 2007, increasing revenue by 44.7 percent, introducing 'Sirius Backseat TV' and snagging additional financing at good terms.

    The Associated Press calculations of total pay include executives' salary, bonus, incentives, perks, above-market returns or deferred compensation and the estimated value of stock options and awards granted during the year.

    New York-based Sirius set its annual shareholders meeting for Dec. 18. It was delayed pending completion of the company's purchase of XM.

    Shares of Sirius closed Friday at 37 cents.

    Copyright 2008 Associated Press. All rights reserved.

  9. #109
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    New article on the new XMP3....

    http://news.ecoustics.com/bbs/messag...81/521203.html


    Pioneer XMp3 Portable Satellite Radio Player/Recorder

    Posted by Admin on Thursday, October 16, 2008 - 08:49 pm

    Wearable XM radio and MP3 player receives live satellite radio and records up to 100 hours of XM programs and the "Best of SIRIUS," record multiple channels simultaneously, auto-record, pause and replay

    SIRIUS XM Radio (NASDAQ: SIRI) and Pioneer Electronics (USA) Inc. unveiled the new XMp3 wearable satellite radio and MP3 player today. The XMp3 is the lightest and most compact wearable live satellite radio and the first with simultaneous multi-channel recording capability. It also features a Programming Guide providing subscribers more ways than ever to discover and record their favorite content as well as the "Best of SIRIUS." The XMp3 has a micro-SD card slot for additional MP3 storage and includes the XM2go Music Manager software for organizing content.

    The XMp3 features the ability to record up to 10 hours of individual songs from its live music channels. Listeners can schedule up to five channels of recording simultaneously, allowing them to store up to 75 hours of sports, talk and commercial-free music programming. In addition, the XMp3 includes an auto-record feature that automatically stores up to 30 hours of listeners' favorite content.

    The XMp3 includes a DVR-like feature that automatically buffers the most recent 30 minutes of live programming so listeners can easily replay what they just heard. The radio allows the listener to pause, fast forward and rewind through the buffered content. Listeners will never miss a beat, sports play or news item again.

    MP3 files can also be stored on the XMp3 radio and managed with the XM2goŽ Music Manager software. With the XM2go Music Manager, listeners can easily organize their saved content plus their personal MP3 music collection on the XMp3. The XMp3 includes a slot for a micro-SD card that makes it possible for listeners to add and enjoy even more of their personal MP3 collection.

    The XMp3 includes the first portable satellite radio Program Guide that displays broadcasts on each channel up to two weeks in advance. Also included is a Highlights feature which spotlights programming, hand-picked by deejays. Listeners can scroll through the Program Guide or use the Highlights feature to view upcoming broadcasts, select a program to learn more, schedule a recording or choose to be alerted about future broadcasts.

    "The XMp3 features a number of firsts, including multi-channel recording that ensures you always have fresh music content, sports games and your favorite shows at your fingertips," said Sean Gibbons, Vice President, Product Marketing for SIRIUS XM Radio. "XMp3 maximizes the entertainment experience, allowing listeners to discover new music and exclusive content. Another exciting benefit of this radio is that listeners can also expand their subscriptions to include 'The Best of SIRIUS' package. With the XMp3 radio, your audio entertainment never stops."

    "The Pioneer XMp3 is a must have for consumers who simply love audio entertainment. With XM's endless music, sports and news programming coupled with MP3 playback, the XMp3 radio is the ideal entertainment product," said Larry Rougas, vice president of marketing and product planning for the mobile business group of Pioneer Electronics (USA) Inc.

    The XMp3 is compact and lightweight at 3.1 ounces and features a large easy-to-read screen for use on the go or in the car, home or office.

    Manufactured by Pioneer, the XMp3 is available for a suggested retail price of $279.99. The new XM2go Music Manager and a variety of new accessories are also available.

  10. #110
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    SIRI is bouncing just above .36 in AH on volume of about 1.5 million...

    This after the GS and ML analyst comments along with the WRSP BK news. If .36 can hold and SIRI can get some traction on Monday, it would be a very nice double bottom chart pattern....

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