Following an extremely negative rating from Goldman Sachs nearly two weeks ago, Merrill Lynch analyst Glen Campbell is raising his rating on Sirius Satellite Radio Inc. to a "buy" follow the bullish post-merger guidance from management.
Campbell also noted that weak auto sales "create a risk" to the near-term forecast, but have only a minor impact on the long-term value.
The news helped push shares of SIRI higher today, closing up 1.56%, but didn't help shares of XMSR, which closed down 4.34% today.
The Merrill Lynch analyst saw the recent post-merger guidance from management as "bullish," noting that the company's guidance is "well above" Merrill's own "very bullish" estimates. Campbell feels this difference is largely related to timing on cost savings. The analyst as also sees "imminent approval" of the merger, after which point a more detailed guidance is expected from the company's management.
[via Barrons]
Thanks Smokey!
About fricking time..... some read meat for the Masses.
Unfortunately, Merrill Lynch has less pull with investors than Goldman Sachs... Goldman's word is always taken as gospel.
"Goldman's word is always taken as gospel.'
-----------------------------------------------------------------------------------------
Really, Goldman Sachs is currently under investigation by the FBI and SEC for
a variety of iissues. Their day will come, they are slime.
Desperate but wrong guessing via Merrill Lynch. Even if approved the satradio industry is finished, any investment in that industry is as good as throwing money in the crapper.
Goldman's word is always taken as gospel
Is it? Or do they make what they say come true?
Goldman Sucks (Sachs)
I'm going to put a curse on the first person that mentions HD.
Your penance will be a severe case of the crabs....and I'm not talking seafood.
"Goldman's word is always taken as gospel
Is it? Or do they make what they say come true?"
Does it really matter how it's done? The bottom line is they have succeeded at screwing everyone invested in SDARS. How they did it is immaterial. They may eventually get busted for their practices (doubt it) but it won't change the damage already done.
Well looks like teh fcc lied again for a 4th time...july first...and no decision has been made...
Sorry guys... just getting back from vacation. I'll get to it at some point.
Where's my damned vacation at? All I do is have everyone suck up to me, and damn it, I'm tired. I need a break. I don't need to go to Asia; Hawai'i will do. You got that Mel? Make it happen. And don't cheap out on the drinks -- umbrellas in every one, got it?
This shit is exhausting. Who knew being so indecisive and then procrastinating could be so tiresome? Oh well.
Mel - I want the room with the Jacuzzi, got it? Champagne, on ice. And make it Dom. You want that vote, baby, you gotta show it's "in the public interest". And goddamnit, I am the public, you dig?
Tate, you better watch it. My bitch owns ketchup. You do this too quickly, and we'll withhold ketchup from everyone. It'll be your fault when children choke on french fries, and you call yourself a politician. Hah! People will be mad at you 57 different ways, and you won't have the fat American voter with sleep apnea in your corner anymore.
Who do you think you are, anyhow? We own ketchup. Well, my bitch does. You get the point.
I can has murgur?
Oh no...not that word "Imminent" again.
When EVER an analyst uses the word "Imminent" in the same sentence as "Sirius" it can only mean ONE thing...
that we are almost a year away from a decision!
FUCK! He had to use the "i" word. BASTARD! :-)
Plowboy knows what it means to make a risky investment in satradio and LOSE.
Son, unlike yourself I have the money to lose...but thank you for worrying about me!
:)
I've been thinking about this bullshit about Dems now wnating 25% of the spectrum for minorities. Could you believe this, NFL, mostly minority, NBA, mostly minority, MLB, mostly minority, NPR Public radio, Bob Edwards all public interest channels. I could go on and on, latin channels, spanish, french sports channels, music, Jamie Foxhole comedy, religion, family & health, dam XM has a channel where Sharpton has a fuckin show. This is now beyond ridiculous. A vote must be in the next few days or week or at worst end of this month, no ? Sirius/XM have agreed to 8% more, not enough ! Why don't we fire every white person that works for either co and let the zoo take over.
And leave you in charge?
First- the FCC chairman said that the decision would be made shotly after the DOJ’s.
He lied. Then in April,Kevin Martin said it would be soon. He lied again. Then he said decision would be by June 30.
Three lies on the timing for a decision.
In baseball, it is Three strikes and your out. Where is the accountability for the FCC?
Maybe we should all declare our independence from the (F)ederal (C)lown (C)ommission on JULY 4th.
Firefox...you forgot about when Martin said it'd most likely be voted on by the end of 2007.
That was the one that kicked off this whole "Merger is Imminent" bullshit.
I still can't believe that was 8 FRIGGIN months ago! And then it was 10 months BEFORE THAT when they first ANNOUNCED this damn merger to begin with!!
Argh. 18 months of slow torture and false hope. This has been ABSOLUTELY BRUTAL.
http://www.fcc.gov/fccmeetings.html
July FCC meeting date and agenda still not announced. Keep an eye on this.
Could the FCC be colluding with Goldman Sachs??? It just makes me wonder when you look at all those [covered] calls that have been written. I hope the SEC is looking into this! The longer this merger is delayed, the more free cash Goldman Sachs could be pocketing --100% profit!
Delay it Goldman, and drive the stock so low while you are at it that the majority of the the options contracts expire worthless.
If any of you don't think BIG INSTITUTIONS aren't behind this delay and profiting the whole way, you are severely misguided and confused investors. But this is what Wall St. has been reduced to. Manipulating institutions that are designed to take your money... like shuttling old ladies to a casino. SCAM.
This could shed light on why jim cramer had previously said that the next few days were crucial or that the FCC might not decide by September -- when the next classes of options expire!! I think you are on to something. Cramer is an old hedge fund manager.... he knows the tricks.
I smell the pre-stench of scandal!
My favorite Kevin Martin quotes.
While speaking to reporters today, FCC Chairman Kevin Martin said that
the Commission plans to vote on the pending Sirius-XM merger in the
fourth quarter of 2007. Martin said the FCC is trying to meet its goal
of deciding on pending mergers within 180 days. "That's our target,"
said Martin.
Martin stated back in January that it was the agency's goal to come to
decision by the end of the first-quarter. He reiterated again stating,
"We're just at the beginning of March," he said. "So I wouldn't say
that we still can't get it done by the end of the first quarter."
When asked whether the FCC had waited for the Justice Department's
decision to issue its own ruling Martin told Radio Ink, “I wouldn't
say that the DOJ was slowing us down."
Martin said he expected the Federal Communications Commission to rule
after the Department of Justice makes its decision. "I still think
the commission will act on it after the Department of Justice acts,"
Martin added. "If there's a need for us to go forward, then we'll go
forward quickly after that."
FCC Chairman Kevin Martin announced that his agency expects to rule on the pending merger of the XM and Sirius satellite radio services by June 30, but of course this too was a lie!
Boooooo!!! I don't care what Goldbond says
Yet more ignorant posts by the uneducated placing blame on the wrong people. This whole mess is 100% Melvin Alan "Mel" Karmazin's fault.
No, this is my fault. I tend to be less decisive than an Asian woman in traffic.
More BS from more BS analysts. Last time I checked XM and SIRIUS are MERGING.
Wouldn't a "buy" from one result in a "buy" for the other? SIRI as a stand-alone is in no better position than XM as a stand alone.
Yet another SIRI shill looking for a pump and dump because of poor investment choices.
it will happen soon. just have FAITH
Heck, if the "Rhinestone Cowboy" says to buy Sirius, then "By the Time I get To Phoenix" or drive to "Galveston", I'll have enough money to quit being the "Lineman for the County".
But the FCC is dragging their feet for such an ungodly length of time even Glen Campbell would get another DUI
Heck, if the "Rhinestone Cowboy" says to buy Sirius, then "By the Time I get To Phoenix" or drive to "Galveston", I'll have enough money to quit being the "Lineman for the County".
But the FCC is dragging their feet for such an ungodly length of time even Glen Campbell would get another DUI
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