Continue reading Chasing Value: Some Very Sirius Numbers

Chasing Value: Some Very Sirius Numbers originally appeared on BloggingStocks on Tue, 29 Mar 2011 14:50:00 EST. Please see our terms for use of feeds.

Sirius XM (SIRI) is the largest satellite radio company in United States. Sirius and XM merged in July 2008 to form Sirius XM Satellite Radio Inc. The company offers over 180 channels comprising of commercial free music, sports, talk shows, news stations amongst others. Sirius XM radio channels are mainly available in automobiles but can also be accessed over the Internet or through home stereos by using various accessories. The firm's satellite radios are primarily distributed through automakers, retail locations and through its website.

Sirius XM has ties with major automobile manufacturers such as Ford (F), General Motors (GM) and Toyota (TM). This helps drive its presence in the U.S. automobile space. In addition satellite radio services are also offered to customers of certain rental car companies.

Continue reading Coverage Launch: Sirius XM Radio

Coverage Launch: Sirius XM Radio originally appeared on BloggingStocks on Mon, 14 Mar 2011 12:30:00 EST. Please see our terms for use of feeds.

Continue reading Three Reasons to Tune Your Portfolio to Sirius XM Radio (SIRI)

Three Reasons to Tune Your Portfolio to Sirius XM Radio (SIRI) originally appeared on BloggingStocks on Tue, 20 Jul 2010 13:20:00 EST. Please see our terms for use of feeds.

Today was one of those days that started out strong and just stayed strong. Spending in January rose 0.5% but outpaced a 0.1% gain in personal income. This morning's strength came on the heels of an overseas stock market rally and that was enough to keep things rolling all day, even if the manufacturing data was lackluster. Here were today's unofficial closing bell levels:

DJIA: 10,403 (+0.76%)
S&P 500: 2,273 (+1.58%)
NASDAQ: 1,115 (+1.02%)

Top Analyst Upgrades/Downgrades
Top Day Trader Alerts

Continue reading Closing Bell: The Upward Momentum Stuck (AAPL, NYT, AIG, SIRI, IPI, OSIP)

Closing Bell: The Upward Momentum Stuck (AAPL, NYT, AIG, SIRI, IPI, OSIP) originally appeared on BloggingStocks on Mon, 01 Mar 2010 16:00:00 EST. Please see our terms for use of feeds.

Here are some highlights from this past week's earnings coverage on BloggingStocks:

• American Public Education Inc. (APEI) received an analyst upgrade following the Q4 report and guidance.
• Autodesk Inc. (ADSK) traded higher after it reported swinging to a profit in Q4, but revenue declined year over year.
• Blackstone Group (BX) reported adjusted Q4 earnings, compared to a year-ago loss, and postive renvenue too.
• Campbell Soup Co. (CPB) higher Q2 earnings beat estimates, but shares fell on so-so revenue results.
• DreamWorks Animation SKG Inc. (DWA) lower Q4 earnings beat expectations but net income for the full year rose.
• Garmin Ltd. (GRMN) topped analysts' Q4 earnings expectations but shares fell after it warned of lower margins.

Continue reading Earnings Highlights: Campbell, Dreamworks, Home Depot, Safeway, Target ...

Earnings Highlights: Campbell, Dreamworks, Home Depot, Safeway, Target ... originally appeared on BloggingStocks on Sat, 27 Feb 2010 14:10:00 EST. Please see our terms for use of feeds.

Actually, before you compose a bunch of angry missives, please consider the state of terrestrial radio. Quite frankly, CBS doesn't have a choice. Between the lousy growth prospects for the medium, and the challenged status quo of the advertising market given the terrible global recession that continues to rip through the markets like a hideous beast, changes have to be made. Changes that you thought would never come.

Continue reading CBS takes WBCN to web -- a wise move?

CBS takes WBCN to web -- a wise move? originally appeared on BloggingStocks on Wed, 15 Jul 2009 15:20:00 EST. Please see our terms for use of feeds.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Alcatel-Lucent (NYSE: ALU) shares rose even though it reported a wider loss for the quarter.
• American Express Co. (NYSE: AXP) posted better-than-expected Q1 results but warned of challenges.
• Blackstone Group (NYSE: BX) reported a net loss and slumping revenues for the first quarter.
• Center Financial Corp. (NASDAQ: CLFC) was downgraded following its Q1 earnings report.
• Cisco Systems Inc. (NASDAQ: CSCO) posted lower Q3 earnings that still topped analysts estimates.

Continue reading Earnings highlights: Disney, Cisco, News Corp., Marvel, Sirius, Blackstone and more

Earnings highlights: Disney, Cisco, News Corp., Marvel, Sirius, Blackstone and more originally appeared on BloggingStocks on Sat, 09 May 2009 12:40:00 EST. Please see our terms for use of feeds.

Continue reading Sirius XM (SIRI) received and rejected a takeover bid

Sirius XM (SIRI) received and rejected a takeover bid originally appeared on BloggingStocks on Mon, 09 Feb 2009 08:33:00 EST. Please see our terms for use of feeds.

As each month passes, more and more companies get into the kind of trouble that pushes them toward Chapter 11 or insolvency. Some of the companies that hit that point several months ago include Sirius XM (NASDAQ: SIRI) and Charter Communications (NASDAQ: CHTR).

In the next several months two or three large companies could be added to the list.

Advanced Micros Devices (NYSE: AMD) posted a narrow loss last quarter compared with the same quarter a year ago, but a third of its revenue disappeared. If PC and server sales get worse, its sales could shrink faster than the company can cut costs. The firm's gross margins are dropping fast and AMD has long term debt of over $4.7 billion.

Citigroup (NYSE: C) still faces the prospects that it could be nationalized if it posts more huge losses in the first quarter. Last week, its market cap dropped to $17 billion. A massive capital investment from the Treasury could wipe that equity out.

General Motors (NYSE: GM) may seem like an obvious choice, but its shares could go to zero faster than investors think. If the UAW or creditors walk away from restructuring talks, GM's attempt to cut its costs to get more government assistance based on a plan to be submitted on March 31 would be ruined.

Douglas A. McIntyre is an editor at 24/7 Wall St.

Stock prices headed toward zero originally appeared on BloggingStocks on Sat, 24 Jan 2009 06:01:00 EST. Please see our terms for use of feeds.

This post is part of AOL Money & Finance's Best & Worst in Money 2008 feature.

There have been big hopes for all the nominees in this category at one time or another, but they've also suffered from questionable management moves of various sorts. So what's to root for in any of these companies?

Circuit City was founded in 1949; back then it was known as Wards Company. The big-box format and Circuit City name came as the result of a series of retail experiments, and became official in 1984. The company was listed on the New York Stock Exchange in the same year. In 1991, the company established a bank to operate its private-label credit card, and later offered a co-branded Visa. Big-box used car retailer CarMax (NYSE: KMX) was also owned by Circuit City at one point. In 2005, the company's board rejected a buyout offer; the company was worth a reported $1 billion then. The next year, Philip J. Schoonover became chairman, and ... well, the rest is history. Circuit City is now in Chapter 11.

Citigroup (NYSE: C) was formed in 1998 from one of the largest mergers in history: banking giant Citicorp and financial conglomerate Travelers Group. The company holds over 200 million customer accounts in more than 100 countries, and includes the investment services brands Smith Barney and Primerica. The company owns prominent, renowned buildings in Manhattan and Chicago, and also won naming rights to the new ball park of the New York Mets. But it was the subprime mortgage crisis that was Citigroup's undoing, resulting in the need for the recent federal bailout.

Continue reading Best & Worst in Money 2008: Struggling company we're rooting for most

Best & Worst in Money 2008: Struggling company we're rooting for most originally appeared on BloggingStocks on Fri, 05 Dec 2008 10:40:00 EST. Please see our terms for use of feeds.

Okay, let me state clearly at the beginning here that Sirius XM (NASDAQ: SIRI) closed on Monday at $0.27 per share. Right from the start, you know we're talking about a risky stock -- a lottery ticket, as they say. And since our subject is the result of a recent merger, there's a lot of pro forma data located in the press release detailing the satellite-radio company's Q3 performance.

According to that pro forma data, revenues increased 16% to almost $613 million. The pro forma net loss was halved to $0.09 per share. It's funny, because when you look through the numbers, you almost feel compelled to come away with a good feeling about the story. Total subscribers increased 17% on a year-over-year basis, subscriber-acquisition costs decreased, cost synergies are manifesting themselves, and projections for free-cash-flow generation seem to be attractive.

However, one has to realize that an attractive cash-flow statement isn't around the corner. Positive free cash flow should begin on an annual basis in 2010. Plus, Sirius XM management must deal with refinancing its debt. And it did make a $4.8 billion write-down relating to goodwill impairment. Also, the economic problems of auto manufacturers such as Ford (NYSE: F) and General Motors (NYSE: GM) are not helping Sirius XM. If car sales are down, then adoption of the satellite-radio company's programming is challenged. It's a simple relationship.

Continue reading It's probably best to stay away from Sirius XM, but...

It's probably best to stay away from Sirius XM, but... originally appeared on BloggingStocks on Tue, 11 Nov 2008 09:28:00 EST. Please see our terms for use of feeds.

Sirius XM soars nearly 17% on a day markets are off over 3% originally appeared on BloggingStocks on Fri, 24 Oct 2008 16:35:00 EST. Please see our terms for use of feeds.

Banks are not the only companies in trouble in the current market. Sirius XM (NASDAQ: SIRI) is viewed by some on Wall Street as a dead company. Shares in the firm trade for 95 cents and have been as low as 86 cents recently. Over time, being below $1 could cause a Nasdaq delisting notice.

The newly merged company has over $2 billion in debt. Neither firm ever made an operating profit and Wall St. is unclear about how much money management can take out in a consolidation.

According the The Wall Street Journal, "The company will soon introduce radios that allow consumers more flexibility in the programming, including a 50-channel plan that costs $6.99 a month." Sirius will also bring out a "best of" offering for $4 a month.

Most struggling companies would have trouble facing one challenge. Sirius faces three.

The first is that the current Wall Street environment may make it nearly impossible to re-finance debt or raise more money. The second is that selling programming at a discount may make revenue matters at the company worse. While it could bring in more subscribers, some current customers may "downgrade" to the lower service tier, cutting the company's income-per-subscriber and undermining revenue growth.

The last and most serious trouble may be that satellite radio is not the "hot product" any more. In a world awash with MP3 players and multimedia handsets which run on 3G networks, there may be no place for Sirius to go.

Douglas A. McIntyre is an editor at 247wallst.com.

Faced with crisis in a falling market, Sirius XM serves up a plan originally appeared on BloggingStocks on Mon, 15 Sep 2008 10:25:00 EST. Please see our terms for use of feeds.

Continue reading Sirius XM -- time to reconsider?

Sirius XM -- time to reconsider? originally appeared on BloggingStocks on Thu, 14 Aug 2008 15:20:00 EST. Please see our terms for use of feeds.