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  1. Sirius Roadkill is offline
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    02-17-2010, 05:38 PM #61

    SL oughta like this one!*

    UPDATE 1-After 17 months. Sirius XM shares rally to top $1
    Wed Feb 17, 2010 2:57pm ESTRelated NewsAfter 17 months. Sirius XM shares rally to top $1

    Sirius XM Radio Inc.
    SIRI.O
    $1.05
    +0.09+9.55%3:00pm EST

    * First time over $1 since 2008
    * Staying above $1 avoids threat of Nasdaq delisting
    * Analysts say company may still pursue reverse split

    By Franklin Paul

    NEW YORK, Feb 17 (Reuters) - Sirius XM Radio Inc (SIRI.O) shares topped $1 on Wednesday, vaulting that threshold for the first time in 17 months, amid improved sentiment about the pay-radio company's future.

    Given the stock's dramatic twenty-fold rise in just over a year, the rally may run out of steam soon, analysts said. Along the way, however, the company may have gained credibility that seemed lost when it dipped as low as 5 cents last February, when concerns about debt pushed it to the brink of bankruptcy.

    The stock was up nearly 13 percent to $1.08 in afternoon trading. It last was above $1 in September 2008.

    Crossing $1 might also make the stock more palatable to mutual funds that would shy away from a company whose shares trade under $1. Sirius XM Chief Executive Mel Karmazin told Reuters in November that he was confident there would be no delisting, since the stock would rise, either on their own or via his power to enact a reverse split of up to 50-1. [ID:n30455685]

    Wunderlich Securities analyst Matthew Harrigan said the company may still play that card, which once was seen as Karmazin's last option should it face delisting.

    "Realistically, most of the real (funds) want something above $10 or at least $5," said Harrigan, who rates Sirius XM at "buy." "If the stock continues to go up ... at some point they are going to declare victory, and do a reverse split when it becomes apparent that they don't need to do a reverse split."

    Sirius XM declined to comment on the stock activity.

    NO MORE NASDAQ DELISTING THREAT?

    Staying above $1 removes the threat that the company, whose market cap is about $3.7 billion, might face delisting by the Nasdaq. Sirius has bolstered its books following an investment last year from John Malone's Liberty Media (LINTA.O) that gave Malone a 40 percent equity stake in the company.

    Last month, Sirius said it will report more than $100 million in free cash flow for 2009, after reporting negative free cash flow of $552 million in 2008. It is expected to detail full fourth-quarter results this month.

    Analysts have attributed the stock's comeback to an improved outlook for auto sales, the source of most of its new subscribers, and an bigger percentage of customers who convert to paying customers once trials expire.

    With its debt woes behind it, Sirius must bring in new subscribers and keep a grip on costs. The former will be aided by any momentum in the U.S. auto industry, which ended 2009 on an upswing.

    Regarding costs, all eyes are sure to be on Sirius XM's attempt to re-sign shock jock Howard Stern, whose five-year, $500 contract ends this year. Stern has told his radio audience that he has been contacted by traditional radio companies and that he could see himself as a judge of News Corp's talent show "American Idol."

    Lazard Capital Markets analyst Barton Crockett in a note to clients recently said he sees Sirius renewing with Howard Stern at $80 million a year in cash, which recognizes both his loyal fan base and the notion that he is "worth less now than he was in 2004."

    Karmazin told Reuters at the Media Summit in November that he is limbering up for what could be colorful negotiations with the self-proclaimed King of All Media, who will want more money, while the company will want to pay him less.

    "That would be how we would go into the room once the time came to go into the room. And the hope would be that we would come out with Howard staying with our service," he said. (Editing by Dave Zimmerman and Steve Orlofsky)

  2. voogru is offline
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    02-17-2010, 05:53 PM #62
    If they still do a R/S at least it won't be seen as a desperate move to get the stock over $1.

    Though I still don't like the idea of it.

  3. Sirius Roadkill is offline
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    02-17-2010, 05:54 PM #63

    Goldman sachs must be getting ready to sell

    All of us here now fully understand Jimmy Cramer's little game all too well . . the stock he dismissed as worthless when trading at $0.25 . . . he now suddenly likes at a $1.00! Uh-uh . . no way Jimmy; we don't play dat here at da'Buzz . . . take dat BS somewhere else Jimmy . . . let Goldman foment their own short . . tell the ivy-leaguers that game is way over Jimmy

    btw . . where's your CNBC buddy Donny Douche? We haven't heard any of his prognostications since he declared Siri worthless at $0.20

    It was just killing the poor CNBC gang today to have to acknowledge the mere existence of Siri (or as Bill Griffith once said "whatever it's called")

    Erin Burnette . . clueless Goldman alum; won't even waste my breath . . she's been goldbricking for Katie Couric's old job for years.

    and Mark Wienkes . . famed Goldman Media analyst . . bastion of integrity . . issuing reports ahead of Goldman's preplanned moves . . nice work if you can get it . . . and if you can live with your conscience.

    and what of Scott Moritz . . . Jimmy's # 1 henchman and famed Apple rumor fomentor, hmmm?


    Posted on 02/17/10 at 12:27pm by Monica Gerson

    In his "Mad Money" TV show, Jim Cramer maintained that Huntington Bancshares (NASDAQ: HBAN) remains his leading speculative stock for the year. HBAN’s shares gained 2.99% to close at $4.82 yesterday.

    According to Jim, the balance sheet of Sirius XM Radio (NASDAQ: SIRI) is improving. He also commented that semiconductor stocks, such as Intel (NASDAQ: INTC), continue to rally. While SIRI has jumped 7.49%, INTC added 1.42% in yesterday’s trading.

    Cramer cautioned investors about Adobe (NASDAQ: ADBE), as he believes that the company continues to be at loggerheads with Apple (NASDAQ: AAPL). Jim said he continues to recommend AAPL. While ADBE gained 1.14%, AAPL moved up 1.51%
    Last edited by Sirius Roadkill; 02-17-2010 at 05:57 PM.

  4. Sirius Roadkill is offline
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    02-17-2010, 06:01 PM #64
    Quote Originally Posted by voogru View Post
    If they still do a R/S at least it won't be seen as a desperate move to get the stock over $1.

    Though I still don't like the idea of it.
    If they do it . . I would like to see AT LEAST 20:1 so that retail margin buyers can come back into play without anxiety that the "pros" will knock it back down to kick in Margin calls . . .

    Brokerage houses have differing margin requirements/ratios based on share price . . . if the R/S is not big enough . . the "pros" will wait til margin comes in and then collude to knock it down below marginable levels in order to create forced selling and seed a short position

  5. Havakasha is offline
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    02-17-2010, 07:19 PM #65
    Thanks for those articles SR. Did Cramer actually suggest people should invest in SXM now?
    As far as the R/S, as Voogru said, at least it would come from a position of strength as opposed to weakness. Still have no idea if it makes sense at this juncture but will rely on Mel to make the best decision based on the facts.
    Last edited by Havakasha; 02-17-2010 at 08:50 PM.

  6. just sirius is offline
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    02-17-2010, 08:08 PM #66
    Lloyd

    Big Ben doesn't influence me at all...As stated in my post to him...have no problem with his trading strategy...I'm unable to do that! Why I took some profit off the table...is frankly none of your business!

    And while we're at it...Your political views do not influence me either! I have never met nor do I know John personally...However, I do agree with most of his political views.

    Ho if he wants to call you a dumbass twit...thats his choice! I'm just having alittle fun posting here on SB. So, please do not PM again taking me too task for responding to his posts.


    BTW- say bye to Senator Byah!

    JS




    Quote Originally Posted by Havakasha View Post
    Dont blame you for taking profits but dont understand why yesterday when it seemed very clear we were going to at least have a run at $1.00 pre 4th quarter announcement? Dont let Ben influence you TOO much though he makes a very good point about taking profits. He said SXM was DEAD MONEY 2 weeks ago.
    Good luck with the rest. I am holding for a higher price (looking to sell part at $1.25 and above depending on facts that are announced at 4th quarter report).

  7. just sirius is offline
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    02-17-2010, 08:25 PM #67
    SR

    If company does enact a R/S...It would give them the ability to dilute us significantly in the future. When the R/S authorization was passed last June...we also voted to increase number of authorized shares.

    this is from one of the filings.

    issued authorized available %
    1 for 10 711,806,000 1,300,000,000 588,194,000 45%
    1 for 20 355,903,000 700,000,000 344,097,000 49%
    1 for 30 237,269,000 500,000,000 262,731,000 53%
    1 for 40 177,951,000 400,000,000 222,049,000 56%
    1 for 50 142,361,000 400,000,000 257,639,000 64%

    some of these I rounded off, but they could dilute us by as much as 64% if they wanted too after the R/S.

    1 positive I see...is that with the higher SP combined with the available # of shares...they could conceivable dilute and payoff all debt!

    Just something to chew on!

    JS




    Quote Originally Posted by Sirius Roadkill View Post
    If they do it . . I would like to see AT LEAST 20:1 so that retail margin buyers can come back into play without anxiety that the "pros" will knock it back down to kick in Margin calls . . .

    Brokerage houses have differing margin requirements/ratios based on share price . . . if the R/S is not big enough . . the "pros" will wait til margin comes in and then collude to knock it down below marginable levels in order to create forced selling and seed a short position

  8. bob is offline
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    02-17-2010, 08:35 PM #68
    Quote Originally Posted by voogru View Post
    If they still do a R/S at least it won't be seen as a desperate move to get the stock over $1.

    Though I still don't like the idea of it.
    Won't happen.....

  9. Havakasha is offline
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    02-17-2010, 08:45 PM #69
    Just Sirius,

    Never going to PM you again.
    Glad Big Ben doesn't influence you.
    Yep its none of my business why you take profits. Just didnt understand why you sold yesterday.
    Sorry you agree with John on much. He is one of the most ideological people i have ever come across and one of the least factual. He does put up a very good front i have to say.
    i quess that's what makes the world go round.

    The Evan Bayh comment shows you to be quite immature. I mean really very silly.

    By the way I have always disliked Evan Bayh. I think he is a phony. Glad he will be gone even if a Republican replaces him (though i would prefer a Democrat). The country gets what they want in the end even if its based on a real lack of facts.

    Enjoy your evening and good luck on your stock market decisions
    Last edited by Havakasha; 02-18-2010 at 01:52 AM.

  10. Atypical is offline
    02-17-2010, 08:53 PM #70
    Quote Originally Posted by just sirius View Post
    Lloyd

    Big Ben doesn't influence me at all...As stated in my post to him...have no problem with his trading strategy...I'm unable to do that! Why I took some profit off the table...is frankly none of your business!

    And while we're at it...Your political views do not influence me either! I have never met nor do I know John personally...However, I do agree with most of his political views.

    Ho if he wants to call you a dumbass twit...thats his choice! I'm just having alittle fun posting here on SB. So, please do not PM again taking me too task for responding to his posts.


    BTW- say bye to Senator Byah!

    JS
    Your comment re agreement with John's views is puzzlng since he has none - just ideology without evidence. He is frequently incoherent and responds with sarcasm and ad hominum attacks rather than facts. He has admitted he doesn't read other's posts. Is that what you consider a constructive dialogue? You must be very proud to agree with someone like that. I'd be embarrassed.

    You can only disagree with someone's views if you have objective, factual evidence to support your view. To say that do not agree with someone requires a reason not just because you don't.

    Bayh was a spineless senator but your parting comment identifies you as an ideologue - which is why you agree with John.

    Ho.
    Last edited by Atypical; 02-17-2010 at 10:22 PM.

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