Time to get Sirius XM @.12

[homedawg]

I dont think this stock could go much lower. I'm in x10k :beer2:

__________________________________________________ ______


Sirius XM Radio shareholders will vote Thursday on proposals to issue up to 3.5 billion more shares and enact a reverse stock split, in an effort to pay down debt and shore up the satellite radio company's battered stock price.



Sirius XM [SIRI 0.12 ---] shareholders, who have watched the shares crumble to 13 cents a share amid concerns about its subscriber growth potential and its ability to repay debt, will vote on whether to give the board the right to split its common shares by a ratio of between 1-for-10 to 1-for-50.

Sirius's shares have traded below $1 since Sept. 19, and is one of many large companies whose stock price has languished below $1 amid the recession. Nasdaq has temporarily set aside a rule that would have threatened Sirius with delisting for its low stock price.

At a meeting in New York, shareholders will decide whether to approve a plan to increase the number of authorized shares of common stock to 8 billion from 4.5 billion.

Sirius has about $1 billion in debt due to mature in 2009, with the first portion due in February, and may sell stock to pay the obligation if it's unable to refinance.


The reverse split plan, if ratified, would shrink the number of outstanding shares to a range of 65 million to 320 million shares from the current 3.2 billion shares.

Despite its near term debt concerns, and worries that the automobile industries woes will hurt Sirius's growth plans, Chief Executive Mel Karmazin earlier this month said the company sees double-digit revenue growth in the fourth quarter and is confident the company can refinance debt due in 2009.

Earlier this month he told the Reuters Media Summit: "The merger has made us control our costs (and) we are dealing with going to significant profitability in the years ahead," Karmazin said ear. "Is everything rosy? Of course not. But what's going on is not operationally problematic."

[homedawg]

Once in a Lifetime for Sirius XM


Is a satellite radio smorgasbord the key to Sirius XM Radio's (Nasdaq: SIRI) pressing cash flow needs?

In a targeted marketing campaign, Sirius XM is offering discounted lifetime subscriptions to XM listeners. I heard a radio spot on XM this morning, pitching a $100 discount on the $400 offering. Many XM subscribers have also received a similar offer through email, though my inbox is just shrugging its shoulders.

The key takeaway here is that while Sirius has offered a lifetime subscription product in the past, XM has not.

In fact, this offer is so hush-hush -- targeted only to existing subs -- that even XM's pricing plan page is devoid of any information. Interested XM listeners are simply referred to a toll-free number to hash it out directly with the company.

It's easy to see why the company is quietly pushing the offer. It doesn't want to seem desperate. The stakes are significant. If a million subscribers jump at the offer, Sirius XM will have more than enough money to clear February's debt refinancing hurdle (the first of three that await the company in 2009).

[homedawg]

SIRI news & charts:

Investors Hub - Sirius XM Radio Inc. (MM) (SIRI) Quote

Investors Hub - Sirius Satellite Radio (SIRI) Message Board

[homedawg]

SIRIUS XM Radio Announces Results of Voting at 2008 Annual Meeting of Stockholders





SIRIUS XM Radio (NASDAQ:SIRI) announced today that its stockholders approved the four proposals considered at its Annual Meeting of Stockholders, held today.



At the Annual Meeting, SIRIUS XM stockholders voted to re-elect the existing Board of Directors, which consists of Joan L. Amble, Leon D. Black, Lawrence F. Gilberti, Eddy W. Hartenstein, James P. Holden, Chester A. Huber, Jr., Mel Karmazin, John W. Mendel, James F. Mooney, Gary Parsons, Jack Shaw and Jeffrey D. Zients.

SIRIUS XM stockholders also approved two amendments to the Company's certificate of incorporation. The first amendment increases the number of authorized shares of SIRIUS XM common stock from 4,500,000,000 shares to 8,000,000,000 shares. The second amendment permits the Board of Directors of SIRIUS XM at any time prior to December 31, 2009 to effect a reverse stock split of SIRIUS XM common stock by a ratio of not less than one-for-ten and not more than one-for-fifty, with the exact ratio to be determined by the SIRIUS XM Board of Directors at its discretion. The second amendment also allows for a reduction of the number of authorized shares of SIRIUS XM common stock as described in the proxy statement for the Annual Meeting.

Finally, stockholders ratified the appointment of KPMG LLP as the independent auditors of the company for the fiscal year ending December 31, 2008.

The final results of the voting are expected to be filed with the Securities and Exchange Commission as part of the company's Annual Report on Form 10-K for the year ending December 31, 2008.

Total shares represented at the meeting were 2,821,080,936, representing approximately 87.07% of the total shares outstanding as of the record date, October 20, 2008.

[Stifler's Mom]

I have never bought a stock before, but i was seriously considering buying some of this one, for some strange reason. Something tells me it is a great investment at the current rock bottom price, although I know zero about the stock market so that isn't really saying anything, lol

Interesting that I should see this post though....

[homedawg]

I have never bought a stock before, but i was seriously considering buying some of this one, for some strange reason. Something tells me it is a great investment at the current rock bottom price, although I know zero about the stock market so that isn't really saying anything, lol

Interesting that I should see this post though....

Kinda like cappin' a game, research & look for the best line. You might even get it cheaper after the R/s. If it goes 1/50 @ .12 =6.00, most of the time there are more sellers after the split, and the stock could go down to 5.00 after the R/s, which would be = .10 before the split?
SIRI always has huge volume, which is good, just too many flippers right now. Definitely a long termer.

SPCB another solid company that's at the bottom IMO

[homedawg]

4 Wall Street Resolutions for 2009

I'm working on a list of resolutions for 2009, but they have nothing to do with joining a gym or doing more volunteer work around town.

Sure, I could certainly stand to shed a few pounds or be a little more charitable next year. Then again, the market losses of 2008 have provided quite the workout, and more has been taken from my portfolio than I could reasonably give away.

So my list of New Year's resolutions revolves around stock market moves. If I'm right, I'll get plenty of exercise as I jump for joy. And my advice, in retrospect, will seem so charitable.

Let's dive in!

1. Buy the biggest losers of 2008, early in 2009

A brutal 2008 isn't ending well for some of the market's biggest bleeders, and understandably so. Investors have been selling dogs this month, turning paper losses into taxable advantages. Tax-loss selling is real, it's tactical, and it can be your friend if you play it right.

Take a look at some of this year's more prolific trading victims:




These stocks have definitely taken their lumps, with many of them earned. Sirius is tackling debt refinancing demons. Las Vegas Sands is scaling back in the once-booming Macau market. Suntech is getting slammed along with so many other solar energy plays.

I get it -- but premium radio, casino gaming, and solar power are also no-brainer growth industries when the market comes around. As long as you put in the due diligence to separate the duds from the studs, now is the time to buy into the year-end selling.

2. Buy the darling tech stocks after their quarterly earnings come out

I love bellwethers like Google (Nasdaq: GOOG) and Apple (Nasdaq: AAPL), but I'm hesitant to jump in over the next few weeks. I think both of these companies will deliver uninspiring financial results during the current quarter. The warning signs are everywhere. New York Times (NYSE: NYT) posted a 4% decline in online advertising revenue for the month of November. Netbooks appear to be seriously outselling MacBooks as holiday gifts this season.

Sure, Google will hold up considerably better than the ad-dependent new-media arm of old-school periodicals. Apple is also moving a ton of 3G iPhones. However, I would rather sit out the next few weeks, figuring that the stocks will take a tumble after they deliver their quarterly results.

I don’t promise that I'm right. Maybe Apple and Google will blow the market away like they typically do. Even if the quarters are uninspiring, maybe the stocks will run up over the next few weeks, more than offsetting a conference-call letdown. I'm just not willing to take that chance.

3. Avoid the temptation to buy into sectors that won't bounce back


I have no problem buying into this year's biggest losers, but I'm sidestepping damaged sectors. You won't see me snapping up real estate developers, even if traders recently began nibbling at the ruins. Where are the catalysts for a recovery in prices for new developments when there are plenty of vacant properties sitting unsold?

There will certainly come a time to buy back into financial services, homebuilders, and automakers, but there is little reason to believe that the fundamentals will justify that action in the year ahead.

4. Follow the earnings


Analysts are hosing down profit projections on most -- but certainly not all -- companies these days. I've been tracking companies where Wall Street is actually revising earnings estimates higher, and I suggest you do the same in seeking out winners for 2009.

Trust me, they exist. Over the past three months, analysts have gone from expecting unmanned aircraft specialist AeroVironment (Nasdaq: AVAV) to earn $1.16 a share this fiscal year, and $1.38 per share in the next, to predicting earnings of $1.25 and $1.42, respectively.

Earnings ultimately dictate share prices, so you may as well buy into the handful of companies that are gaining ground as the headwinds blow.

Good riddance, 2008
Don't get down about the year that was when you can get pumped about the year that will be. 2009 will bring plenty of challenges. We're certainly not out of the woods yet. However, the new year also brings new opportunities.

It always does.

Now I'm off to see about that gym membership.

[homedawg]

4 Predictions for 2009

2008 is so yesterday. It's time to start looking ahead, so let's dust off this crystal ball to see what the future may hold for some of your investments.

Naturally, going out on a limb can be a risky pastime. However, it's really the only way to invest since the best stock pickers are the ones who train themselves to see what others don't.

So, in no particular order, let me go over a few of the financial news events that I see going down next year.

1. Yahoo! will trade higher in 2009

The answer you're looking for is 2005. That is the last year that found shares of Yahoo! (Nasdaq: YHOO) trading higher. The stock tanked 35% in 2006, slipped 9% in 2007, and is being hammered with a 48% drop so far this year.

The streak will end in 2009, as there are too many catalysts working in the company's favor:

Microsoft (Nasdaq: MSFT) can always come back. The bid will be substantially lower than the original $31 offer, but enough of a premium to put shareowners out of their misery.
A new CEO may prove to be the visionary that can spark market share growth and margin expansion.
Yahoo!'s Asian investments, including chunky stakes in Yahoo! Japan and China's Alibaba may become market darlings again, even if Yahoo! itself does not.
Even if none of this happens, Yahoo! is still a huge traffic magnet in cyberspace. Once ad rates stabilize, the Internet should bounce back stronger than more traditional advertising platforms.

2. Sirius XM won't file for bankruptcy

Wall Street is braced for the worst with Sirius XM Radio (Nasdaq: SIRI). The stock has shed 95% of its value this year, trading for pocket change as if a Chapter 11 bankruptcy filing is around the corner.

It's easy to be fearful. The company has a third of its $3.4 billion in total debt due next year. Refinancing isn't easy when credit markets are tight, and a $0.15 share price makes a dilutive recapitalization unattractive.

CEO Mel Karmazin doesn't really have much of a choice, though. As a consumer-facing company, filing for bankruptcy reorganization could be fatal. Subscribers will back off from prepaying for long-term subscriptions, and automakers will want sweeter customer acquisition royalties. Either way, cash flow will take a colossal hit that is not offset by emerging out of bankruptcy with a cleaner balance sheet and wiped-out common stockholders. It won't be easy, but Sirius XM will do everything possible to avoid getting that far.

3. Tech will lead the market recovery


Some of this year's biggest laggards, like homebuilders, investment bankers, and banks are starting to bounce back. I don't buy it. It may be years before real estate developers have a reason to break ground on new homes or for investment bankers to underwrite deals. The one sector that will lead the country out of recession is technology.

It will be companies like Apple (Nasdaq: AAPL) and Google (Nasdaq: GOOG), which were smoking hot leading into the meltdown, that will regain their sizzle. They have been gaining market share during the lull, even as analysts talk down their near-term earnings prospects.

4. Chinese stocks will outperform stateside equities


I took a look at the one stock in China that I believe investors should own next year, but they should fare well with just about any of them. China's economy is showing signs of cracking, but the government is taking a proactive approach in beefing things up to nip the malaise in the bud, unlike the reactive approach elsewhere .

There are bargains to be found everywhere you look. Online gaming leader NetEase.com (Nasdaq: NTES) -- growing nicely and with insane profit margins -- is fetching just 11 times next year's projected profitability. Leading real estate agency E-House (NYSE: EJ) is trading at just 13 times next year's bottom-line targets, and this is actually a fast-growing industry in China.

I am optimistic when it comes to the chances for the United States to bounce back next year. However, I am even more confident that the sturdier Chinese equities will lead the way higher.

[homedawg]

Ahead of the Bell: EchoStar acquires Sirius debt
By: The Associated Press | 05 Feb 2009 | 07:40 AM ET

NEW YORK - EchoStar Corp. has acquired a significant amount of Sirius XM Satellite Radio Inc.'s maturing debt and may be planning an attempt to gain control of the satellite radio operator, according to a media report on Thursday.

Citing "people familiar with the matter," The Wall Street Journal said EchoStar has recently acquired part of a $300 million tranche of Sirius debt that matures on Feb. 17.

Sirius XM was created by the combination of satellite-radio companies Sirius and XM in July, but the company has since suffered from a sharp slowdown in auto sales, which hurt subscriber growth for 2008 and 2009. The company generates many of its new customers through sales of cars that have its radios installed at the factory.

In December, Moody's Investors Service slashed its credit rating for Sirius XM, anticipating that the New York-based company will have to seek a compromise with debt holders next year. Moody's said Sirius has nearly $1 billion of its $3.3 billion debt load coming due in 2009.

Sirius shares have lost nearly all of their value in the past year, closing at 14 cents on Wednesday.

Meanwhile, EchoStar, which sells set-top boxes and also provides satellite services to Dish Network, reported in November that its losses surged in the third quarter due to write-downs and other losses on troubled investments.

The Englewood, Colo.-based company lost $308 million, or $3.43 per share, in the quarter ended Sept. 30. EchoStar's stock closed at $15.40 on Wednesday.

[homedawg]

SIRI Close Price 0.17
High Today
$0.20
Low Today
$0.16
Volume
150,652,090 :nuts:

[homedawg]

Is EchoStar Looking to Get Sirius?
February 5, 2009 (2:57 pm) Tyler Savery

The news that EchoStar is grabbing hold of Sirius XM debt has not been taken lightly. Reports began to surface on the subject late yesterday afternoon and this morning’s Wall Street Journal confirmed the news. This latest development has sent the stock upwards quickly on heavy volume and had many on the street taking a trip down Speculation Street and Guesstimate Lane as people were trying to figure out the strategy in the EchoStar move.

There are several factors at play here. The obvious one is that EchoStar may want a piece of Sirius XM, and controlling their debt is the mechanism to make that happen. With credit being tighter than ever, the company may be forced to swap equity for debt. Recently, 100,000,000 shares were issued to take away $13 million in debt. The February debt is not the issue here that is newsworthy in my opinion. If Sirius XM had to they could likely pay the remaining $175 million with cash. The real story is whether or not EchoStar is buying up the May debt.

The thought of debt for equity swaps is one path for EchoStar to exert control. $100,000,000 of debt could bring 700,000,000 shares to the table at a fixed price. If EchoStar were to attempt to buy that level of shares on the open market, the stock would climb, and the cost to acquire the shares would rise with it. Should there be a default that forces Sirius XM into bankruptcy, EchoStar would be a major creditor, and gain some control.

Why would EchoStar want Sirius XM anyway? Speculation is all we have but, perhaps they see that Sirius XM is still exhibiting top line growth, and there is a potential for that to continue. Perhaps they see the company being able to use more bandwidth for backseat television, and want to up the ante in mobile television. Or, perhaps they simply feel that the prospects of Sirius XM are strong enough that the debt they buy will make EchoStar money.

Mel Karmazin, Sirius XM’s CEO, has had business dealings with Charles Ergen of EchoStar in the past and Joe Clayton, the former CEO of Sirius, sits on the EchoStar Board of Directors. Clearly these parties are well acquainted and it would not be a real stretch to see that they are working together on something.

No matter what the speculation is, there is one thing that seems to ring true. Ergen and EchoStar would not make this move unless they thought it would benefit them. The debt is likely the safest way for EchoStar to make their move given the leverage that is provided.

This news comes several days ahead of the expiration of the February Debt on the 15th. Certainly, the next week will be very interesting in that there are only six trading days left before the debt is due. Sirius XM has expressed that they are working many channels on taking care of their debt issues, and that they hoped to have a resolution or direction by March 1st.

All in all, this news shows an interest in the debt for one purpose or another, and the equity is responding accordingly.

Position: Long Sirius XM Radio

[homedawg]

SIRI Close Price .12
High Today
$0.20
Low Today
$0.11
Volume
181,857,635

:eyz:

[Daws1089]

got in at .11 as well. It's time to support my sirius listening:thumbs:

[homedawg]

GL :beerbang:

SIRI gettin' killed after hours:

Extended Hours 0.0809Last Trade
-0.0291 (-26.45%)After Hours Change
* 4,933,615 Volume
5:32:08 PM

SIRIUS XM RADIO INC Real Time Stock Quotes & Performance | SIRI | CNBC.com


Sirius Got, and Rebuffed, Ergen Bid

Satellite mogul Charles Ergen made an unsolicited offer late last year to take control of Sirius XM Radio Inc. [SIRI 0.11 --- UNCH (0) ], and was rebuffed, the Wall Street Journal said, citing people familiar with the situation.

Ergen proposed for one of his satellite companies -- EchoStar Corp. [SATS 15.749 -0.881 (-5.3%) ] or Dish Network Corp. [DISH 13.15 -0.76 (-5.46%) ] -- to inject enough capital into Sirius for it to meet its debt obligations and avoid a bankruptcy filing, the newspaper cited the people as saying.

Despite the rejection, Ergen has recently reiterated his interest in taking control of Sirius, the paper said.

Even if Ergen succeeds in acquiring control of Sirius, however, it is far from certain that federal regulators, whose approval would be required, would welcome the union of satellite television and radio, the newspaper added.

Sirius XM has nearly $1 billion in debt due this year, prompting many on Wall Street to doubt its future given the sluggish credit market and a steep drop in car sales -- the biggest source of new satellite radio subscribers.

Ergen's move has put Sirius Chief Executive Mel Karmazin in a corner, the Journal said.

In discussions with investors last week, Karmazin said that unless he could raise $175 million, he would be faced with one of two options: having Sirius file for bankruptcy or cutting a deal with Ergen, the paper said. An EchoStar spokesman could not be immediately reached for comment by Reuters. Sirius too could not be immediately reached for comment by Reuters.

[homedawg]

Sirius XM Prepping for Bankruptcy
02/10/09 - 05:18 PM EST

Sirius XM (SIRI) may file for Chapter 11 bankruptcy protection "within days," according to a published report late Tuesday, as the satellite radio company continues to grapple with outstanding debt.

According to a report in The New York Times, Sirius XM has been working with the restructuring expert Joseph Bondi of Alvarez & Marsal and the bankruptcy lawyer Mark Thompson of Simpson Thatcher & Bartlett to help prepare a Chapter 11 filing. The report cited people close to the company, who said documents and analysis are close to being completed and a filing could come within days.
After gaining 3.6% during Tuesday's down session, shares of Sirius XM were lower by 2% after hours to 11 cents a share.

The Times report comes one week before a chunk of Sirius XM's maturing debt will come due. Sirius XM reduced its total debt due on Feb. 17 to about $175 million, but the future is a bit unclear. The company still has approximately $3.4 billion in debt, with just under $1 billion due before the end of the year, and its stock has fallen sharply since the July merger between Sirius Satellite Radio and XM Satellite Radio.

Additionally, reports surfaced last Thursday that EchoStar has acquired a significant portion of Sirius XM's debt and could seize control of the company's attractive assets.

EchoStar, which sells set-top boxes and was the former parent of Dish Network, has acquired part of a $300 million tranche of Sirius XM debt set to mature next week, according to The Wall Street Journal, which cited "people familiar with the matter."

The Journal went on to say that Charles Ergen's EchoStar could also be buying Sirius XM's senior bank debt, which comes due in May.