Sirius Slowing, Awaits Merger Decision (SIRI, XMSR)

Media

Published: February 26, 2008 7:23 am

Last Updated: March 26, 2020 11:40 pm

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Sirius Satellite Radio (NASDAQ: SIRI) has posted earnings, and it showed -$0.11 EPS and $249.8 million in revenues. First Call had estimates at -$0.13 EPS and $267.4 million in revenues. It also showed free cash flows of $75.9 million in the quarter. The satellite radio provider also added 654,309 subscribers to end with 8.32 million subscribers at the end of 2007.

If you read the comments from CEO Mel Karmazin, you can see how the company is still waiting for a merger decision in its merger plans with XM Satellite Radio (NASDAQ: XMSR): "The pending merger with XM will offer unprecedented choice for consumers and create tremendous value for stockholders. We have made a very strong case for the merger to the government, received broad support from leading organizations and prominent individuals, and we look forward to a fast positive ruling from the government."

Interestingly enough, the company said it would only provide guidance after "merger approval" from the government.

Last night, Jim Cramer identified some of the congressmen that were holding up this merger. It is still too early to see any pre-market trades. XM Satellite Radio (NASDAQ: XMSR) also posts its earnings Thursday and you can see our full dueling preview.

Jon C. Ogg
February 26, 2008

The Average American Is Losing Their Savings Every Day (Sponsor)

If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.

Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.

But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.