S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Consumer Electronics

Sirius Stock Price Votes “No” On Merger

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Over the last three months, the price of Sirius (SIRI) shares has risen over 7% twice. The most recent was January 10 when the share moved up 7.3% to $3.98. The second time was November 22 when the share jumped 8.1% to $4.29.

Then, there was today. The stock traded over 258.5 million shares. It was up only 5.95% to $3.92.

This was supposed to be the deal of the decade. The deal of the year, at least. XM (XMSR) and Sirius together. Huge costs savings. The works.

But, the market does not buy it. Either Wall St. believes that satellite radio will stay under siege from the iPod, the iPhone, the music phone and WiMax, or investors believe that the FCC will shut the deal down. And, the government could either say "no" altogether or simply suggest that pricing is going to be capped or that a competitor can come into the market with a new license.

Any which way, it ain’t good.

Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Why Pandora Shareholders Might Vote Against the Acquisition
Chris Lange |

Why Pandora Shareholders Might Vote Against the Acquisition

While the deal might look good at first glance, one analyst believes that Pandora shareholders will shoot down any hopes…
Why the Pandora Investment and Merger Saga May Be Far From Over
Jon C. Ogg |

Why the Pandora Investment and Merger Saga May Be Far From Over

The long saga regarding Pandora Media has finally come to a head. Well, maybe. There is reason to feel as…
Douglas A. McIntyre |

Boutique Calling For Sirius-XM Approval (SIRI, XMSR)

There is an interesting note out of Stanford Group Company’s Paul Gallant calling for the likely approval of the merger…
Jon C. Ogg |

Why Sirius XM Shareholders Are Getting Hosed in the Buyout

courtesy of Sirius XM RadioSirius XM Radio Inc. (NASDAQ: SIRI) is now in-play under mergers and acquisitions. The virtual parent…
Jon C. Ogg |

Is Sirius XM Ready to Rally 50 Percent?

courtesy of Sirius XM RadioSirius XM Radio Inc. (NASDAQ: SIRI) was a buyout target not that long ago. It turns…
Douglas A. McIntyre |

With Sirius Up 30%, Can Chatter Be True? (SIRI)

Sirius XM Radio (NASDAQ: SIRI) did something rather unusual if you consider its recent downward trend.  Its shares rallied close…
Paul Ausick |

Sirius XM Stock Has Nowhere to Go but Down

Shares of Sirius XM Radio were up nearly 7% Monday morning following the weekend's announcement by Liberty Media that it…
Paul Ausick |

Sirius XM to Be Swallowed by Liberty Media

courtesy of Sirius XM RadioIn a deal that may not be good enough to resist, Liberty Media Corp. (NASDAQ: LMCA)…
Douglas A. McIntyre |

Sirius XM (SIRI) Gets Nasdaq Warning On Stock Price

Sirius XM (SIRI) faces a possible delisting from the Nasdaq, according to a disclosure by the company. The firm’s common…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618