SIRI Intraday Updates for the Week of 11/10/08

http://digitaldaily.allthingsd.com/2...eo-this-sucks/

Sirius CEO: This Sucks
Posted at 3:33 PM PT on November 11, 2008

To hear tell from Sirius XM CEO Mel Karmazin, there was a lot to be happy about in the the troubled satellite radio provider’s third-quarter results–its $4.88 billion loss excluded, of course.

During a conference call to discuss the company’s horrifically bad financials, Karmazin described Sirius’s performance as “impressive,” considering the current economic climate. “It is very impressive that with severely declining auto sales, high unemployment and a generally weak economy, that our revenue grew 16 percent on a pro forma basis in the quarter,” Karmazin said, stressing the company’s 17 percent increase in revenues. “Many other good companies are not growing as a result of the issues in the U.S. economy. So we believe showing double-digit growth to be very impressive, especially if you compare SIRIUS XM’s results to other media and entertainment companies.”

Sure. Thing is, most other media and entertainment companies don’t have almost $1 billion in debt that comes due next year. Nor are they so reliant on the auto industry, a key driver of new satellite radio subscriptions. So perhaps Karmazin’s most apt, and honest, statement on Sirius’s (SIRI) current plight was this one, delivered a bit later in the call.

"We think the environment sucks. It is not like we’re doing something wrong. It is that, unfortunately, we do not have a whole lot of control over what cars are getting sold. We do our best.”

Pre-Market Trade Reporting

Pre-Market
Last: $ .254
Pre-Market
High: $ .2595
Pre-Market
Volume: 48,790
Pre-Market
Low: $ .25

Pre-Market
Time (ET) Pre-Market
Price Pre-Market
Share Volume
08:13 $ .254 1,000
08:13 $ .2537 9,300
08:12 $ .254 7,000
08:12 $ .254 3,000
08:11 $ .254 18,000
08:08 $ .25 100
08:08 $ .25 200
08:08 $ .25 150
08:08 $ .25 700
08:08 $ .25 468
08:08 $ .25 1,472
08:05 $ .255 2,000
08:04 $ .255 4,000
08:00 $ .25 400
08:00 $ .2595 1,000

Nowhere in this press release did they say that they got rid of a bunch of my favorite channels........

http://www.marketwatch.com/news/stor...C349F16E7C2%7D

PRESS RELEASE
SIRIUS XM Radio Announces Extraordinary New Channel Lineups
The Best Audio Experience Now Available For Subscribers at No Extra Cost and No New Hardware Exclusive Channels and Shows From Bob Dylan, Bruce Springsteen, Grateful Dead, Jamie Foxx, Tom Petty, Willie Nelson, Jimmy Buffett and more, available to all subscribers for first time


Last update: 6:01 a.m. EST Nov. 12, 2008

http://www.iii.co.uk/news/?type=afxn...action=article

(AFX UK Focus) 2008-11-12 11:58
BRIEF-Sirius XM delay 10-Q filing
Nov 12 (Reuters) - Sirius XM Radio Inc:

SAYS HAS DETERMINED IT IS UNABLE TO FILE ITS QTRLY REPORT ON FORM 10-Q FOR
the period ended September 30, by the prescribed due date

I got a copy of the 10-Q by e-mail this morning

I'm starting my annual migration to Florida today, so I won't be around for a few days.

I am counting on all of you to keep this stock afloat until I get back!

Good luck everybody.

Keysmark

I do feel sorry for the affected subscribers, but as an investor this is great news, I love to see progress, and this show they have been working on something. No one can be happy to have something taken away. Im pissed about XM Raw is no longer on Directv and they didn't even replace it! thats bullshit, but on DTV I will listen to the other channels playing Rap and be fine. I hope to find some money laying around to start my subscription now that the new lineup is out I am more confident about it, damn me for putting the money in the stock instead of a sub! ha ha, soon. :thumbup:

Its a good day, we will be in the headlines for sure, what a way to get free ADVERTISING!!! :thumbup:

ITS GOOD NEWS CUTTING COSTS IS ALWAYS GOOD..:thumbup:

THE NASDAQ IS DOWM 46 POINTS AND WE ARE UP 2% THATS GOOD THAT WE ARE HANGING ON TO .25 SO FAR..

THE NAZ HAS TO RETEST THAT 1500 LEVEL BEFORE WE GO UP..:eek:

DJ Sirius Files Its Quarterly Report >SIRI

.
DOW JONES NEWSWIRES
Ê Sirius XM Radio Inc. (SIRI) Wednesday filed its quarterly report with the Securities and Exchange Commission. Ê The company earlier Wednesday filed with the SEC to delay filing the 10-Q for the period ended Sept. 30 citing its merger with XM Satellite Radio Holdings Inc. as the reason for the delay, but then subsequently filed the report. Ê Sirius XM said it had recently completed its review of the required purchase accounting adjustments and the impairment charge to be recorded in connection with the merger. Ê -Ingrid Pedrick Lehrfeld, Dow Jones Newswires; 202-862-1361
day.

Ê (END) Dow Jones NewswiresÊ November 12, 2008 07:46 ET (12:46 GMT)Ê Copyright (c) 2008 Dow Jones & Company, Inc.- - 07 46 AM EST 11-12-08