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Sirius XM Holdings Inc. Message Board

  • lonerangercards lonerangercards Feb 1, 2013 5:12 PM Flag

    Any Reason Not to Hold Through Earnings ?

    This thing is just going tooo smooth.

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    • Should not be any surprises bad or good with earnings - Sirius said the met guidance for 2012 and have already given it for 2013..

      I'm more interested in finding out how this tender announced today for the convertible bonds will play out. We knew it was coming, just not sure whether the bond holders will convert now for the premium or wait until 2014. IF they convert it will eat up a lot of the $2 billion borrowing for the buyback, but get rid of some interest expense, and maybe permit more borrowing. Was the tender partly behind the surge today, or was it just Sirius following/leading the market? Or will this tender be news the market reacts to Monday?

      • 4 Replies to nabslutalert
      • Quite interested indeed. IF they convert, sure it eats into say half the sh count of the proposed buyback...but it says more about an upside they believe is yet to come in the equity. Otherwise, why convert. Because even if it's a cut and run move, it says the expected downside is minimal out to Dec 2014.

        Friday's price move has the look of SIRI finally deciding it wants to follow the new market leaders. A battle I've been describing for the past several weeks as AAPL continues its journey as the market's source of capital. A follow through next week would be nice to see. But SIRI typically sells off after its ER so we shall see. At the very least, we see new highs next week.

      • Agree. I recommend everybody to hold tight. I'm getting leary. I know that at some point in time there is going to be a correction, and if there is it will start right after a quarterly. But if the release on Tuesday is good, this could fly. I am holding all the way. One never knows what the overall market is going to think. Regardless, it seems to me this is a great long term hold. Someday SIRI will have more than 100 million customers.

      • Ok, I see they gave notice on the notes. It's gonna be interesting for sure.

      • Nab, saw nothing on a tender offer for the 7% convertibles. Mostly good Jan car sales and good market and upcoming earnings for Fridays surge.

    • Not that I know. I actually added today. I added calls for March at 3.50 exercise price.

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