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Wall Street Breakfast: Must-Know Newsby SA Editor Rachael Granby- Bank trio becomes duo. Wells Fargo (WFC) will become the largest U.S. bank by branches with its bid for Wachovia (WB), after Citigroup (C) withdrew from compromise negotiations late yesterday on concerns about the quality of some of Wachovia's assets. Wells Fargo, with a bid valued at $11.4B, expects the purchase to be completed by the end of the year, and denies it will have to absorb assets shakier than originally thought.
- Government considers next steps. As the financial crisis continues to worsen, the U.S. government is considering two dramatic steps to turn around, or at least slow, the damage: guaranteeing billions of dollars in bank debt and temporarily insuring all U.S. bank deposits. The moves, which would mark the government's most extensive intervention to date, are in discussion stages only.
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Wednesday, October 15.Bullish Calls:Continental Resources (CLR) -- "This is a remarkable decline. All of the high quality ones are down so much, I can't go against it. This is where you pull the trigger.
3M (MMM) -- The moment this stock starts yielding 5%, I'm a buyer. Until then, keep your powder dry.Bearish Calls:Computer Sciences (CSC) -- This is a company that was going to be bought, but they passed up the chance. Now I don't want to buy it."Email continues...
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Latest Comments960 Comments
Finally Some Good News for Sirius Shareholders
Finally Some Good News for Sirius Shareholders
Finally Some Good News for Sirius Shareholders
I agree that is old information, from before the merger.
Finally Some Good News for Sirius Shareholders
siriusly depressed, To be honest it is impossable to say at this point, this company in my opinion should not be here at this point.
Finally Some Good News for Sirius Shareholders
By the way the market gos down when Obamas polls go up. Why do you think that is? The answer is simple the market is not dumb and now just what Obama means for the market and economy.
Finally Some Good News for Sirius Shareholders
Finally Some Good News for Sirius Shareholders
Sirius XM Issues 67 Million Shares to Gain Breathing Room
Will Murdoch Make a Move on Sirius?
Sirius XM Issues 67 Million Shares to Gain Breathing Room
Will Murdoch Make a Move on Sirius?
Will Murdoch Make a Move on Sirius?
I will say that if what Mike H. has talked about happens I would have a problem with that and would want people to pay and goto jail. But as even as Mike said, in the WSJ Mel said he would take the company private, but not till 2009 (I could have swore, Mel said that would not be possible until at least after 2009 when the company is profitable). Now the stock by that time should be at a way higher PPS even without a reverse split and be sold for a much higher price then even what it is at at that time (5 or 6) without a RS.
Once again I believe Mel is honorable and has shown to be through his life. I am willing to give him the benifit of dought. If though what Mike H. talks about happens, I will be one that calls for him being put behind bars. I say that, because I have also known for a long time just how much the spectrum that SIRIXM now holds, was so big that this company will be a media giant, the likes if which has never been seen before.
Will Murdoch Make a Move on Sirius?
This while is a small part of the 1.1 billion maybe a hint of how Mel plans on taking care of alot of the rest of it and why he is asking for the extra shares. It is a big part of the 300 million in Feb. which I have said was not going to be a problem. I will once again remind people that they have enough in cash on hand to pay the rest of the Feb converts off. That is without the FCF positive that they will also have in the forth quarter. I will say it now there will be a big number (in FCF positive) coming in the 4th Q. Why, well first of all SIRI went from 30 million in FCF positive in 4th Q of 2006 to 80 million FCF positive in 2007. Just add another 40 million to that number and you get 120 million for 2008 (that is wihout any of the savings from the merger that will start to come in in the 4th Q). Next most may not know or may have forgot that the only reason XMSR did not have any FCF positive last year is because of the CAPEX from the last satellite they launched, they dont have that cost this year. So you can now add another at least 80 million FCF to that 120 million FCF from SIRI and you get 200 million in FCF positive, IMO.
serius _employee, It is not news to most that have been invested in SIRI/XMSR that 3rd Q numbers will be bad as I have said before 3rd Q net sub adds are always the worst of the year. Also while the 3rd Q metrics show good improvement, this time because of the cost of the merger that wont be there ether. I am not a person that thinks Mel ment 19.5 now, but was ether a misunderstanding or misprint/misspoken that he really ment 19.5 million by the end of the year. I personally would be very surprised if they had more then 200,000 net adds in the 3rd Q. I also think that is another reason the PPS is so low because this is not going to be any surprise to most investors in this stock. I had warned a long time ago that the next 6 months was going to be tuff. Some have not been able to take it and sold. We are almost halfway to the end of the tuff time and I will wait the rest out.
Will Murdoch Make a Move on Sirius?
This may come as news to you sl62 but both SIRI and XMSR have ways of knowing which channels are the most popular (XMSR had the ability for a long time but SIRI just got it several months ago.)
Will Murdoch Make a Move on Sirius?