Media
Sirius XM Tops Earnings, Sales Targets
Stock quotes in this article:SIRI
During an interview on CNBC, Sirius XM CEO Mel Karmazin addressed questions about a reverse stock split. Shares have closed under $1 since Sept. 2008, and Sirius XM has until March 15 to meet the Nasdaq's listing standard.
Karmazin said that Sirius XM is"one of the most valuable companies on the Nasdaq today," and that it is working with the Nasdaq regarding the minimum bid standard. "We'd like them to change the rules for us," Karmazin said. "We have a very, very substantial market cap." In a word, Karmazin said concerns over the company's debtload are "over." During the quarter, Sirius XM sold $257 million of new 9.75% senior notes due 2015 in order to repay $250 million of 15% term loans that would have matured in 2011 and 2012. Shares of Sirius XM were lately up 2 cents, or 4.4%, to 63 cents. -- Written by Robert Holmes in New York. Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.TheStreet Premium Services
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,393.45 | 1,310.33 | 2,827.34 | 15.81 |
Oil *
101.78
|
|
DOWN
26.41 |
DOWN
2.99 |
DOWN
10.02 |
DOWN
0.44 |
10 Yr
1.58%
SPDR Gold
151.62
|
|
-0.21%
|
-0.23%
|
-0.35%
|
-2.71%
|
Data delayed 20 minutes |
Connect with TheStreet