Sure doesn't look like shares of SIRI are headed lower to $2.70 to $2.80 as The DUKE keeps suggesting is going to happen every single Sunday.
This morning starts the recovery after the overall market pullback.
SIRI's net income of $120 million was about $30 million more than previous quarter. Sure it isn't 3 cents a share...But, to get to 3 cents a share with 6 billion shares outstanding is an incredible feat of $180 million.
Even at 5 billion shares they would need $150 million. Shares would of had to be 4 billion outstanding to achieve 3 cents a share.
Net Income should be the important thing here and it seems to be at an historical high. Maybe 4.4% less than last year due to increased expenses mostly due to higher interest costs....But still...At some point, maybe now, the company will have no more need to raise any more debt. They will then start paying off debt at same time they are buying back shares.