Markets are now pulling back before the fed decision - SIRI holding steady above .40 and up 13%...
Fed decision any minute now....
Half point rate cut to 1%........markets are selling off on the decision.
SIRI just dipped under .40........
I don't have a link for this story yet and I saw it floating around on the internet, so I can't vouch for it's accuracy yet...
Sirius Satellite Radio Announces Contract with Volkswagen of America
Wednesday, October 29, 2008 11:04:57 AM (GMT-05:00)
Provided by: Reuters Significant Developments
Sirius Satellite Radio announced that Volkswagen of America, Inc. will offer SIRIUS as standard equipment in all Touareg2, New Beetle, New Beetle Convertible, GTI, and GLI models beginning with the 2008 model year. SIRIUS will also be available on Jetta, Passat and EOS models.
Last edited by Demian; 10-29-2008 at 04:03 PM.
Pivot Table for Today
R2 R1 Pivot S1 S2
0.47 0.41 0.36 0.30 0.25
Those Motley Fools never stop, do they......
http://www.fool.com/investing/genera...sirius-xm.aspx
Quarter Pounder With Fleas at Sirius XM
By Rick Aristotle Munarriz October 29, 2008
He's at it again, Sirius XM Radio (Nasdaq: SIRI) investors. Goldman Sachs analyst Mark Wienkes is talking down shares of the satellite radio provider, slapping Sirius XM with an embarrassing price target of $0.25 a share.
Wienkes hasn't endeared himself to Sirius XM shareholders, or at least those still sticking it out in the company. Those who heeded his apocalyptic warnings and bailed several months ago probably owe him a gift for the sharp losses they were spared.
Just don't make that gift a satellite receiver.
The worst part of believing in satellite radio is that Wienkes has been right all along. Sirius XM has difficult debt repayments due next year, and time is ticking. Even if Sirius is able to overcome the hurdles, it will probably be at the expense of massive dilution to a company that has billions of outstanding shares to begin with.
There are many challenges to satellite radio:
Smartphones like Apple's (Nasdaq: AAPL) iPhone can stream Internet radio.
Carmakers like Ford (NYSE: F) are installing CD-ripping hard drives into vehicle stereo systems.
Music subscription providers like Napster (Nasdaq: NAPS) and RealNetworks (Nasdaq: RNWK) are making their streams more accessible.
Internet radio heavies like Time Warner's (NYSE: TWX) AOL Music and CBS' (NYSE: CBS) Last.fm are reaching out to wireless phone users with free apps.
These things aren't exact substitutes for satellite radio. Just ask any of the 18.6 million Sirius and XM subscribers. However, the real shame here is that Sirius XM's undoing -- if it comes to that next year -- is its own doing. Between a mountain of debt that is due in 2009 and the negative free cash flow from its current operations, every passing day makes it harder and harder for Sirius XM to avoid bankruptcy or deluging its shareholders with dilution.
Curses! Wienkes was right.
Twit, look at the stock price...GS = Wrong
The market tanked going into the close...
SIRI closed up .02 @ .38 - which was the close Monday before Wienkes downgrade.
Last edited by Demian; 10-29-2008 at 04:08 PM.
green is good, could it be an indication that there is feeling Q3 results will beat forecast?