Page 1 of 20 12311 ... LastLast
Results 1 to 10 of 197

Thread: SIRI Intraday Updates for the Week of 10/20/08

  1. #1
    Newman is offline
    Mentor
    Newman's Avatar
    Joined: Jun 2007 Location: Dallas Texas Posts: 1,162

    SIRI Intraday Updates for the Week of 10/20/08

    Last weeks close: 0.377

    Lets see how we do this week... party on

  2. #2
    Demian is offline
    Mentor
    Demian's Avatar
    Joined: Oct 2008 Posts: 2,320
    Good morning people. Will this be another week of crying or smiling?

    .38 seems to be holding up in AH. I'm hoping .36ish holds for a clean and clear double bottom...

    Pre-Market
    Last: $ .3812

    Pre-Market
    High: $ .40

    Pre-Market
    Low: $ .37

    Volume: 179,315

  3. #3
    Demian is offline
    Mentor
    Demian's Avatar
    Joined: Oct 2008 Posts: 2,320
    http://www.cfo.com/article.cfm/12448...todayinfinance

    Extra! Extra! Media Firms Refinance
    Hit hard by lost advertising income during the economic downturn, they're making whatever concessions they can to win better terms from lenders.
    Stephen Taub - CFO.com
    October 17, 2008

    "A number of media companies are scrambling to refinance their considerable debt before it matures in order to avoid default...............Meanwhile, Sirius XM Radio said in a regulatory filing that it may issue shares of common stock to repay $1.05 billion in debt that matures in 2009."

  4. #4
    Demian is offline
    Mentor
    Demian's Avatar
    Joined: Oct 2008 Posts: 2,320
    http://followthemedia.com/bigbusines...io19102008.htm


    Credit crisis reaches outer space

    Michael Hedges October 19, 2008
    As the financial world restructures with public guarantees media providers scramble for their own. It will be two steps backward as people with the money tidy up their accounts. Write offs in the tech sector may bring the digital dreams back to earth.

    Satellite provider WorldSpace filed for bankruptcy protection in an American court (October 17). The company has over $2 billion in debts, according to the filing dispassionately reported by the Wall Street Journal. WorldSpace will continue operating as debtor-in-possession as it looks for a buyer for its $300 million in assets including two satellites already in space and another on the ground. WorldSpace needs cash to make note payments.
    Sirius XM Radio also needs cash. Last week staff lay-offs began in earnest, mostly from the XM side. In July Sirius and XM finally merged after a prolonged regulatory investigation. Top talent, mostly from the XM side, began vacating months earlier. CEO Mel Karmizan had been CEO of Sirius and famously stumped up $500 million for the services of infamous shock-jock Howard Stern.
    Reuters reported (October 17) that Sirius XM is “considering” a reverse stock split to keep the share price from drifting further off the horizon risking NASDAQ exchange delisting. Once delisted companies face long odds and pawn broker interest rates for future financing. In August Mel said a reverse stock split wasn’t under consideration. Things change. Mel needs to make a $300 million note payment in February.
    Delivering media services by satellite will continue to be a high performer. Radio will be part of that. And it will be part of the growing subscription media segment.
    Ondas Media announced (October 13) it had reached an agreement with automaker BMW for factory installed satellite radio receivers. Ondas Media plans to launch, literally and figuratively, in 2011. Karmazin and XM predecessor Hugh Panero lined up similar deals with carmakers for factory installed receivers in North America.
    For car salesmen this is the proverbial win-win deal. Potential car buyer to salesman: “What kind of radio can I have?” Salesman to potential car buyer: “What kind do you want?” For the manufacturers it’s just a chip somewhere in the dashboard. For satellite radio providers it’s a locked-in customer…until the free subscription runs dry.
    Mel Karmazin is a convert to subscription media. And he has kept to that story for most of the four years he’s been running Sirius. His contract expires next year.
    But, oh, how I remember Mel saying, “I just love to sell advertising” (expletives deleted).

  5. #5
    PMO is offline
    Member
    PMO's Avatar
    Joined: Sep 2008 Posts: 55

    Here we go again...

    Gap higher to .4 and now red OHLC's ...

  6. #6
    Demian is offline
    Mentor
    Demian's Avatar
    Joined: Oct 2008 Posts: 2,320
    Mel speaks today at 9 am in Detroit.....

    http://www.sae.org/events/convergence/

    Convergence® 2008

    October 20-22, 2008
    Cobo Center
    Detroit, Michigan, USA

    Vehicle Electronics Converging on Real Customer Needs
    The value proposition of meeting real customer needs will be met by how features are implemented, not necessarily how many. Complex user interfaces render features unattainable and of little real value. Today's market savvy customer expects features that are intuitive and easy to use while minimizing driver distraction. Emphasis on ease of use will require a more thoughtfully designed user interface than previously imagined. This is where the competitive advantage lives. Serving as Conference Chairman for Convergence 2008 is Andreas Schell, Vice President Engineering Core, Electrical/Electronics, Chrysler.



    http://www.sae.org/events/convergence/keynote.htm


    Keynote Presenters
    Monday
    9:00 a.m.
    Riverview Ballroom
    Mel Karmazin
    Chief Executive Officer
    Sirius XM Radio Inc.

    Mel Karmazin is Chief Executive Officer of SIRIUS XM Radio, America's satellite radio company delivering the "The Best Radio on Radio" to more than 18.5 million subscribers, including 100% commercial free music, and premier sports, news, talk, entertainment, traffic and weather. Karmazin oversees all aspects of the company's operations from its New York City corporate headquarters.

    Previously, he was President and COO of Viacom from May 2000 until June 2004. Karmazin served on the Viacom board of directors and was responsible for overseeing all of Viacom's operations. Viacom Inc. is one of the world's largest entertainment and media companies and a leader in the production, promotion, and distribution of entertainment, news, sports, and music. The company's properties include CBS Television, MTV Networks, BET, Showtime Networks, Infinity, Viacom Outdoor, Paramount Pictures, Paramount Television, Paramount Parks, UPN Blockbuster, Simon & Schuster, and theatrical exhibition operations in North America and abroad.

    Prior to that, he served as President and Chief Executive Officer of CBS Corporation from January 1999 - May 2000. Before becoming Chief Executive Officer, he was President and Chief Operating Officer of CBS Corporation from April 1998 to January 1999. He joined CBS in January 1997 as Chairman and Chief executive officer of CBS Radio through a merger of Westinghouse/CBS and Infinity Broadcasting. He had served as Infinity's President and Chief Executive Officer from 1981 until Infinity became a wholly owned subsidiary of Viacom in February 2001. He was named Chairman and Chief Executive Officer of CBS Station Group (Radio and Television) in May 1997. Prior to Infinity, Karmazin spent 10 years with Metromedia.

    Karmazin is vice chairman of the board of trustees of The Paley Center for Media and serves on the board of Autism Speaks. He was inducted into the Broadcasting Hall of Fame, and has received the National Association of Broadcasters National Radio Award and the IRTS Gold Medal Award.

  7. #7
    Demian is offline
    Mentor
    Demian's Avatar
    Joined: Oct 2008 Posts: 2,320
    SIRI is banging it's head on .40, but cant seem to break it yet on pretty low volume of just over 4 million shares....

  8. #8
    SiriusXMInvestor is offline
    Enthusiast
    SiriusXMInvestor's Avatar
    Joined: Aug 2008 Posts: 227
    Again someone is controlling the stock via the CINN. When the **** will Mel investigate who it is and why they are manipulating the stock. I believe manipulation of a stock is criminal, right? You have to wonder why this has not been done.

  9. #9
    Demian is offline
    Mentor
    Demian's Avatar
    Joined: Oct 2008 Posts: 2,320
    http://marketnewsblog.blogspot.com/2...ow-sirius.html

    MONDAY, OCTOBER 20, 2008
    What Now SIRIUS?

    Something that hasn’t gotten a lot of attention in the CE trade media is that since the merger between satellite radio companies Sirius and XM, the combined stock SIRI has been absolutely hammered on the Street, hitting an all-time low last Friday of $0.36 a share, from a pre-merger price of $2.50.

    Granted the equity markets have taken a beating worldwide, and every CE and tech company has seen their market cap take sometimes-severe haircuts. At issue for Sirius in particular is concern over their ability to grow their subscriber base, as well as to be able to service the debt issues that are coming due early next year. Talk about avoiding delisting from NASDAQ by engineering a reverse split – exchanging shareholders’ multiple shares for one share at a combined valuation, something that seldom goes well, have further alienated shareholders.

    On the CE business front, given how well CE manufacturers have played ball with Sirius (not to mention XM), and the millions of devices in homes and cars that are Sirius-equipped, while it’s still remote, it would be a damn shame to see them go under.

    Then again, talking to reps for the various HiFi brands, consumer feedback seems to indicate that Sirius is more popular for mobile applications, than home audio. According to a couple of sources at the big Japanese audio companies, Ethernet audio has proven to be a more popular feature on their AV receivers than Sirius.

    What do you think? If Sirius goes under, will you notice? Let us know in the comments.

  10. #10
    Demian is offline
    Mentor
    Demian's Avatar
    Joined: Oct 2008 Posts: 2,320
    Quote Originally Posted by SiriusXMInvestor View Post
    Again someone is controlling the stock via the CINN. When the **** will Mel investigate who it is and why they are manipulating the stock. I believe manipulation of a stock is criminal, right? You have to wonder why this has not been done.
    Those same 100 share blocks? Couldn't a big buyer march over that if they wanted to? What disturbs me is how they slide all those trades through below the bid and the ask........how do they keep doing that?

  11. Ad Fairy Senior Member
Page 1 of 20 12311 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •