SIRI Intraday Updates for the Week of 2/02/09

[trippingthespeculatingpos]

http://messages.finance.yahoo.com/St...&frt=2#4001032

full wsj article

[just sirius]

Rick at motley fool seems to have changed his articles to be more positive towards siri. Probably thinks they have driven the price as low as it can go and now wants some to the action or maybe they something we don't know?

[trippingthespeculatingpos]

im sure they are getting a piece of the action, once there buddies cover they will go long and then it will be omg siri pulled it off what an amazing story mel is such a genius

[Newman]

Sarah McBride (the author of the WSJ article) has always been negative on SIRI and has never been able to get her facts straight.

By exchanging debt for stock in a series of transactions, Sirius has managed to reduce that debt to $174.6 million. Of course, that has diluted the value of each share, contributing to the rout in Sirius's stock price.

The dilution to the stock under this financing did nothing to bring down the price of the stock. The majority of this dilution was done between 13 and 15 cents per share.

The convertible bonds coming due bear 2.5% interest, but new debt to replace it would likely carry far higher rates, well into the double digits, given current market conditions. The money that will be siphoned off to meet the higher interest payments could have been ploughed back into the business to help it grow.

There is only 174.6 million left due on these notes. Even if the interest rate were increased to 10%, that would add 7.5% interest, or 13 million per year in increased interest payments. That is not a huge sum by any means.

On the other hand, there are some positives in the article. It states that Sirius is in "advanced discussions" with new and old creditors. While highlighting the 4.88 billion lost in the 3rd quarter, at least she mentioned the 4.75 billion related to the impairment charge, meaning that in Q3, the company only lost 130 million, much better than any of the previous quarters. She did fail to mention the increasing synergies.

[trippingthespeculatingpos]

http://www.americanbulls.com/StockPa...ker=NASD&TYP=S

[Sworntwofun]

It's funny how much energy you have when you are not working :O

I know what you mean.... Lots of time for stock research....

Good Luck today Dude....

I will be here on the side....No gym

Dow futures looks better today...keep your fingers cross!

[SiriusHope]

CNBC just reported...
... CEO Jamie Dimond claims that JP Morgan has renewed and /or loaned out 100 biliion $$$ since bailout money was received...let's hope that SiriusXm is part of that and we hear that soon.

[trippingthespeculatingpos]

looks like we might get to .14 , thx tony, i onyl have 2 positions right now and i feel really good bout both.

[hoping2rise]

It's at 0.14 now.. something going on?

[trippingthespeculatingpos]

just a good ole fashioned siri rally, lets see how long this lasts, it looks like a big one too me.