Investor News

April auto sales are in and we are finally seeing some improvement over last year.  In April 2014 auto sales came in at 1,386,608.  This represents an improvement of just over 100,000 units from last year and sets the pace for a realistic chase for 16 million in… → Read More

It has been quite a while since we have seen SiriusXM show some real bullish signs.  The equity actually removed a few caution flags and a warning flag on the action in the late afternoon.  Yes, this is good news, but let’s not get ahead of ourselves.  SiriusXM… → Read More

Not long ago I stated that I fully expected siriusXM to issue new debt.  That happened today with what was initially a $750 million offering and subsequently the amount doubled to $1.5 billion at 6% and is due in 2024.  The new funds will allow the company to… → Read More

There is an air of uncertainty on the street with regard to SiriusXM.  A cusory look shows a company that is in great shape, make a lot of money, and is in control of its own destiny.  A deeper look shows a company who’s costs are shaved as… → Read More

Just a quick note as to why valuations might be on the minds of the street.  Over the past three years we have always seen the cost side of SiriusXM’s business show a nice little decline from Q4 to Q1.  This year that pattern has shifted.  While slight,… → Read More

SiriusXM is trading modestly above the $3.00 level and many investors are scratching their proverbial heads.  What is the valuation of this company?  Well, there is no easy answer on valuation other than that the company tends to be valued at between 17 and 22 times the Enterprise… → Read More

SiriusXM reported quarterly earnings today and for the most part the company met expectations and there was little surprise in the numbers delivered.  The first quarter of 2014 started off with revenue of $998 million and  earnings per diluted share 0f $0.02.  Net income was $94 million, and… → Read More

As I get ready to write this I can not help but think back to the past 24 months and tons of keystrokes regarding a debt to EBITDA ratio of 4.5 vs. the 3 that Mel Karmazin said was the sweet spot.  At the time, I pointed out… → Read More

If the conference call was not around the corner, I would say that the equity is getting ready for a potential run.  The problem is that I do not think that the conference call will give us anything to get terribly excited about and in fact may be… → Read More

SiriusXM will be reporting its quarterly financials this Thursday.  In my opinion the key element of this call will be expectations.  Right, wrong, or indifferent, Sirius has shifted from a “darling” when Liberty Media made an offer to bring the company under its umbrella to “questionable” ever since… → Read More