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Sirius XM Swings to Profit

Posted Feb 25th 2010 9:50AM by Melly Alazraki (RSS feed)
Filed under: Earnings Reports, Sirius Satellite Radio (SIRI)

What do you know. Sirius XM Radio (SIRI) on Thursday posted its first quarterly profit since the two satellite radio companies merged. This is after last week its stock finally managed to climb back above $1, a territory it didn't visit since September 2008.

Sirius posted a profit of $14.2 million, or less than one cent a share, driven by subscriber gains and cost-cutting. This compared with a year-earlier loss of $245.8 million, or eight cents. Analysts had expected a loss of 2 cents a share, according to Thomson Reuters I/B/E/S. Revenue grew 6% to $684 million, beating the analysts' forecast of $664 million.

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Sirius XM (SIRI) received and rejected a takeover bid

Posted Feb 9th 2009 8:33AM by Zac Bissonnette (RSS feed)
Filed under: Sirius Satellite Radio (SIRI)

With its stock trading at less than 13 cents, you might think the debt-crippled Sirius XM Radio Inc. (NASDAQ: SIRI) would accept any takeover bid that would mean it could avoid bankruptcy.

Apparently, you'd be wrong. The Wall Street Journal reports (subscription required) that satellite mogul Charles Ergen made an unsolicited takeover bid late last year, but was rebuffed by the company and its board of directors. Ergen had reportedly proposed that one of his companies -- either Echostar Corp. (NASDAQ: SATS) or Dish Network Corp. (NASADAQ: DISH) -- provide the company with enough cash for it to avoid a bankruptcy filing.

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Closing Bell: Dow up on lower commodity prices; AMZN, HD, SIRI gain

Posted Aug 11th 2008 4:17PM by Jon Ogg (RSS feed)
Filed under: After the Bell, Amazon.com (AMZN), Home Depot (HD), Sirius Satellite Radio (SIRI), Market Matters, Research in Motion (RIMM)

Today was a volatile day in the markets as stocks started out flat to slightly positive early on, went negative, but then came back throughout the day. Traders had no real economic numbers, but oil trading under $115 and gold down another 3% has traders cheering beyond any lagging economic numbers.

Here are today's unofficial closing bell levels:
DJIA: 11,782.35
S&P500: 2,439.95
NASDAQ: 1,305.31
10YR T-Note 4.008% (+0.058%)
Pre-Market Analyst Upgrades
Pre-Market Analyst Downgrades

Amazon.com Inc. (NASDAQ: AMZN) rose sharply in today's final minutes. An analyst at Citigroup noted that the company could sell as many as 380,000 units of its Kindle e-book reader this year, which could in turn increase its Audible subscriptions and could raise its e-book sales. Shares were up over 9% at $87.86 in today's final minutes.

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Sirius: would happily buy XMSR (if regulators said 'yes')

Posted Jun 26th 2006 5:51PM by Sarah Gilbert (RSS feed)
Filed under: Deals, Management, Industry, , Sirius Satellite Radio (SIRI)

Firing quite the shot across the bow of its satellite radio rival, Sirius Satellite Radio CEO Mel Karmazin told audience members at a conference on media convergence that he'd happily buy XM Satellite Radio. Executives from XMSR (surely wondering what "the right price" might, exactly, mean) hadn't commented, yet, at the time of this post.

That would be quite some convergence. As the two companies have raced each other to forge deals with opposing car makers and big media names, and have struggled to out-innovate and out-subscribe one another, it seems as if nothing defines the sector so much as the rivalry.

Monopolistic concerns would certainly be raised by regulators, although really: what harm could come of having only one satellite radio company? It's not like consumers have no other choice for their listening pleasure in their cars, or anywhere else, for that matter -- what with offerings ranging from the iPod to the common FM station.

Regulators, it's possible, wouldn't agree with my "who cares?" analysis: they stopped an earlier proposed deal between DirecTV and Echostar.