am inclined to find validity in SO's advice -
between now and 4Q earnings,
are dollar days at siri
SIRIUS XM SATELLITE RADIO FORUM
am inclined to find validity in SO's advice -
between now and 4Q earnings,
are dollar days at siri
If you look at every single stock in your portfolio today, you will notice that EVERY single one, including SIRI went down between 9 and 10 this morning and then went flat for the remaining time. Currently, some are starting to try and move up, but it was an across the board trend. This happened on both the DOW and the NASDAQ.Originally Posted by xitvp
If there hadn't been so much shitty news today, SIRI would be above the .20 mark. The point is - don't take SIRI as an individual stock performance price, because all stocks are in the same boat.
Is Sirius the only stock on the Nasdaq that is in the green today?
No.....SIRI, Stem Cells Inc. and Seagate are positive right at the moment.
Who predicted the Terms?
And for all of you out there worried about dilution: THERE HAS NOT BEEN ANY! PREFERRED shares were issued. Technically, those are non-dilutional to the common shares. Yes, I know Malone has the option of transfering those preferred into common (and yes, it would be closer to 2.5 billion shares to bring total frloat to around 6 billion), but I do not see that happening any time soon. He already has two board seats. The ONLY way he would do this is if he were to make a play to take over the rest of the company, which he is not allowed to do for 3 years.
As far as interest goes: Not as bad as it could have been. Their Dec 09 debt was already at 10%. Their 2014 det is sitting at 14%. My problem with this deal is that they are not actually PAYING OFF anything. I know funds are tight, but NONE of the debt is getting paid off, simply extended. I was hoping that with a deal they would at least retire some of it.
Oh well, going out of town for the week. Hopefully I'll have internet connection and be able to follow up on the deal. I will cancel my 0.35 sell order and place another one at 0.50 for 20% of my shares, just in case. I doubt it will get activated, but it is worth a shot.
Man, for the number of shares still being traded, this .17 price point seems to be rock steady. Looks like it might take a little more good news to pull more investors over from the Dark Side. I am assuming we will see another upward trend after hours. Hope Hope!
HEARD ON THE STREET: Drama Isn't Over At Sirius
http://www.djnewsplus.com/article/SB...Over+At+Sirius
3 minutes ago - Dow Jones News
Related Companies
Symbol Last %Chg
SIRI 0.158 50.62%
As of 3:34 PM ET 2/17/09
By Martin Peers
A DOW JONES COLUMN
The battle for control of Sirius XM Radio has proved to be the best radio drama in many years. And it isn't over yet.
Liberty Media Corp.'s agreement to lend $530 million doesn't guarantee Sirius stays in orbit. The broadcaster only received $280 million up front, with most of that used immediately to pay off $172 million in bonds. To get the rest of the money, Sirius has to persuade holders of $350 million in bank debt due in May to extend their debt.
Assuming that deal gets done - and if Sirius is no longer burning through cash in its operations - the company should have the funds to pay off the second big maturity this year, bonds due in December. The size of that maturity shrank to $228 million from $400 million Friday, when some investors swapped their bonds for 2011 notes carrying better terms.
Any hiccup in paying off these bonds could cause complications, as Charlie Ergen's EchoStar Corp. - which kicked off the battle for control by buying some of the February bonds that were redeemed Tuesday - owns most of them.
Of course, the agreements with Liberty and bondholders only defer until 2011-12 refinancing issues that confronted Sirius this year. The hope is by then an improvement in the credit markets, and Sirius' profitability, will make refinancing easier.
Even so, the upside for Liberty is more from a financial return than anything strategic related to its big stake in DirecTV. Liberty gets a 15% interest rate, $30 million structuring fee and decent security on its loans. Not to mention, should all go according to plan, an effective controlling stake in the company.
(Martin Peers is deputy editor of the Heard on The Street column. He has been a reporter and editor at The Wall Street Journal since 1999, most recently as deputy media and technology editor. He can be reached at 212-416-2305 or by email at martin.peers@wsj.com)
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/nae/al?rnd...6TGKKLHA%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
02-17-09 1531ET
Copyright (c) 2009 Dow Jones & Company, Inc.
Last edited by J56D; 02-17-2009 at 04:52 PM.
I'm still feeling good about today's events and hope the rest of the week turns out like today.
Completely off topic: Is anyone else sick of that picture for the weight loss ad at the top of this page? I wish they would replace that AD with ANYTHING other then that damn stomach.
I just cant wait to hear that the MAY debt is taken care of as well as the Q4 results.
So now the negative spin begins again for at least 2 reasons.
1 - To let the shorts cover at lower prices.
2 - To let big buyers, funds, etc. buy at lower prices.
What else?
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