no weekends! I cant buy pre or post market, but this stock gets traded heavy on both sides.
If bad news comes out by tuesday, premarket will tank it again.
Even if SIRI files BK, this stock will still have its bounces, I just might have to keep chasing it.
Lets hope for the best! :beerbang:
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Sold at $0.177 for approx. 13% loss :beer2: ....just don't like the way this thing is trading
I see that ETNL is finally moving upwards for you today HD :thumbs:Leave a comment:
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SIRI payment due next tuesday. I coulda sold @.20 last week at a profit, and I could sell right now at a profit, but I'll hold over the weekend. :beer2:
Liberty/Sirius talks do not involve takeover
NEW YORK (Reuters) - Liberty Media Corp is in talks with Sirius XM Radio Inc to invest in the satellite radio company's capital structure, but the talks do not involve a takeover of the company, a source familiar with the talks said on Friday.
The talks between the two companies are friendly and do not include an equity stake, the source said. Any possible agreement could include a loan to Sirius, or paying off its debt, or assuming the debt obligations.
Another person familiar with the talks said both EchoStar Corp and Liberty Media continue intense talks with Sirius XM.
The discussions with EchoStar are more of a hostile nature while Liberty's talks are cooperative with Sirius management, but a winning party remains uncertain, the people said.
Sirius, Liberty and EchoStar did not immediately return calls for comment.
Sirius XM's talks with Liberty are seen as a last-ditch attempt by Sirius chief Mel Karmazin to stave off a takeover bid by Charles Ergen's EchoStar, which holds $175 million in Sirius convertible bonds due on February 17.
Satellite mogul Charles Ergen, who owns satellite companies EchoStar Corp and Dish Network Corp, began amassing Sirius debt several months ago and is hoping to take control of Sirius, one of the sources said.
Industry experts have said a Sirius bankruptcy is likely if the company does not cut a deal with either party.
Sirius, faced with a slowdown in retail demand for its radios and the downturn in the automobile industry where it gains most of its new subscribers, has to consider all options in an effort to control costs.
It is even trying to renegotiate some content deals, including contracts with Major League Baseball and Oprah Winfrey, according to a report on BusinessWeek's website.
Liberty Media is in the process of splitting off most of its Liberty Entertainment unit, which owns the majority stake in U.S. satellite TV operator DirecTV Group Inc.
Some media reports had suggested DirecTV was in talks with Sirius, but a source said the discussions are with Liberty Media's management and not with that unit.
Sirius, which has a total debt load of about $3.25 billion, began planning to refinance its debt following its merger with rival satellite-radio operator XM, which was approved last July. But the credit markets froze shortly thereafter.Leave a comment:
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I was looking at that yesterday when it tanked. Only problem is they only had 1 drug, now talking about closing shop?
GL
UPDATE 2-La Jolla stops developing lupus drug; shares tankBy: AFX | 12 Feb 2009 | 11:33 AM ET
BANGALORE, Feb 12 (Reuters) - La Jolla Pharmaceutical Co said it would stop developing its lead drug candidate, an experimental treatment for lupus, after an interim efficacy analysis showed negative results, wiping out about 90 percent of its market value. La Jolla, which was struggling to win approval for the drug Riquent for years, said it would provide information on its strategic options in the near future. "(La Jolla) only have cash till May. Riquent was their only product and I think they will cease operations," Pacific Growth Equities analyst Liana Moussatos said. Riquent was being co-developed with BioMarin Pharmaceutical Inc and was La Jolla's only clinical-stage drug candidate. The companies said an independent data monitoring board analysed the first interim efficacy data from a late stage trial named ASPEN and concluded that continuation of the trial would be "futile." In 2004, U.S. regulators had declined to approve the drug until the company provided more clinical data proving it works. "Riquent is a risky asset that has now been through about 15 human studies over the past two decades," Leerink Swann analyst Joseph Schwartz said.
"This failure highlights the risk of using post-hoc analyses of previously failed studies to design pivotal trials." Thursday's news not just closed the lid on Riquent, but also showed how increasingly difficult it is for drugmakers to get a lupus drug approved. "The current standard-of-care (for lupus) has reduced the flare rates for lupus patients to the point that it is extremely difficult for any new drug to show benefit," Pacific Growth's Moussatos said. Lupus is a potentially fatal, chronic autoimmune disease in which the body creates antibodies that attack the body's own connective tissues. The disease tends to flare up and wane, making it difficult to assess the effectiveness of any treatment. A few other companies involved in the development of lupus drugs are ZymoGenetics Inc, Immunomedics Inc, Human Genome Sciences Inc and Genelabs Technologies Inc . BioMarin and La Jolla, which agreed to co-develop and market Riquent early last month, said they would now unblind the data and evaluate all the clinical results including secondary endpoints. BioMarin Chief Executive Jean-Jacques Bienaime said the company spent about $15 million as a part of the agreement on Riquent. "BioMarin loses just a $15 million upfront payment... whereas failing at the final analysis would have cost $52.5 million," Leerink's Schwartz said in a note to clients. La Jolla shares were down more than $2 from its Wednesday's close of $2.31, while BioMarin shares fell more than 2 percent to $18.97 both on Nasdaq. (Reporting by Esha Dey in Bangalore; Editing by Gopakumar Warrier, Anil D'Silva) Keywords: LAJOLLAPHARMA/ (esha.dey@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: esha.dey.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.Last edited by homedawg; 02-13-2009, 01:32 PM.Leave a comment:
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Just picked up some LJPC @.20.....another one very over sold on bad news.Leave a comment:
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SIRIUS XM Radio Announces Exchange Of $172.5 M Of Existing Convertible Senior Notes Due 2009 For New Senior Secured Notes Due 2011
Last update: 2/13/2009 10:45:11 AM(MORE TO FOLLOW) Dow Jones Newswires (201-938-5400)February 13, 2009 10:45 ET (15:45 GMT)Copyright © 2009 MarketWatch, Inc. All rights reservedLeave a comment:
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Once someone buys in to Serius XM that stock should rise back high enough for you to be able to get your return on your investmest even if its just your money back.
Im going to buy my stocks tommrow:
SIRI (Not gonna drop much lower i think i missed there lowest at 0.55)
APPY (As manmythlegend pointed out they look like there gonna have a strong future)
ICON (rose 0.46 today alone which kinda sucks but there looking really strong)Leave a comment:
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Howard Stern says satellite radio will survive
| 11 Feb 2009 | 08:55 PM ET
Pay radio's $100 million man is unfazed by sinking stock, bankruptcy
LOS ANGELES - Shock jock Howard Stern dismissed the financial troubles plaguing Sirius XM Radio Inc as "growing pains" and said he believes satellite radio will be a successful business.
Even as Sirius shares plunged to a historical low of 5.2 cents on Wednesday following media reports that the company is preparing for a possible bankruptcy filing, Stern — whose team is paid $100 million a year by Sirius — was unfazed.
"Everybody's wondering about this whole bankruptcy thing with Sirius," the self-proclaimed King of All Media said on his satellite radio program.
"I'm not concerned. I think satellite radio is great and will be a successful business and it will survive," he said.
The New York Times reported that Sirius has been working with advisers on a possible Chapter 11 filing, putting pressure on Charles Ergen's EchoStar Corp, which according to media reports owns a substantial amount of Sirius debt and is seeking to take control of the company.
Sirius has $175 million of convertible notes maturing on February 17, $350 million of secured bank debt due in May 2009, and $433 million in convertible notes due December. The credit squeeze is making it hard for Sirius to meet the obligations.
Stern said he tried to call Ergen himself, but never succeeded in talking with him. While noting that his knowledge was limited only to what he had read, Stern said he would not rule out a hostile takeover offer. "There's a game going on and it's for billions of dollars," he said.
"As long as someone is paying our salary, we're here and I believe we'll get paid and that satellite radio will be here," Stern said.
Many analysts have attributed Sirius' woes to expensive content deals with high-priced talent like Stern, as well as distribution deals with the now struggling auto industry to install satellite radios in cars.
With a bankruptcy filing, analysts said, Sirius could renegotiate deals with Stern and others like Martha Stewart, Oprah Winfrey and Major League Baseball.
"Bankruptcy allows you to renegotiate every contract," said RBC Capital Markets analyst David Bank, but he expected Sirius would likely try to tweak revenue-sharing arrangements with automakers rather than with Stern.
"I think there wouldn't have been a Sirius without him. There is a legitimate question as to whether Sirius would have survived up until now without him," he said.
From 12 million to 2 million listeners
Stern's nationally syndicated radio show once drew about 12 million listeners, while analysts estimate his daily satellite audience to be about one million to 2 million.
Stern joined Sirius in 2006, jumping from the FM dial where he frequently bridled at U.S. government indecency regulations and his corporate bosses at Infinity Broadcasting Corp, now known as CBS Radio Media Corp.
His defection marked a turning point for the nascent business of satellite radio, with both Sirius and larger rival XM Satellite Radio paying millions more to sign other talent and attract listeners to their subscriber model.Leave a comment:
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Sirius XM in talks with DirecTV, Liberty
Reuters | 11 Feb 2009 | 09:57 PM ET
NEW YORK - Sirius XM Radio Inc's Chief Executive Mel Karmazin has approached DirecTV Group Inc and Liberty Media in an effort to fend off bankruptcy as well as a bid by EchoStar Corp's Charlie Ergen, media reports said on Wednesday.
The reports come as Sirius XM faces heavy debt payments ahead, and amid widespread views that a deal with Ergen is the most likely and preferable scenario for the satellite radio provider to avoid bankruptcy.
The New York Times reported that Sirius was in preliminary talks with media mogul John Malone's Liberty Media, while the New York Post said Karmazin asked DirecTV to buy it. Liberty Media controls DirecTV.
The Times, quoting people briefed on the negotiations, said it was not clear how advanced the talks between Sirius XM and Liberty were.
The Post, quoting sources, said Karmazin prefers a deal with DirecTV, as merging with Ergen would force him to give up control.
DirecTV declined to comment, while Sirius XM and Liberty Media officials were not immediately available for comment.
:beer2:Leave a comment:
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I bought APPY a few days ago at $1.70, I think if they come out with any type of positive news on FDA submission of their AppyScore this thing could move back up almost as quickly as it dropped. I don't know if it will go all the way back to the $7's, but I will probably be looking to sell around $3.50-$4range.
Here is the latest news:
"CASTLE ROCK, CO--(MARKET WIRE)--Feb 11, 2009 -- AspenBio Pharma, Inc. (NasdaqCM:APPY - News), an emerging bio-pharmaceutical company dedicated to the development of novel drugs and diagnostics for humans and animals, has appointed Robert F. Caspari, M.D. to the new positions of chief operating officer and chief medical officer. His initial primary responsibilities will include managing the development, FDA clinical trial and submission activities for AppyScore(TM), the company's breakthrough diagnostic test for human appendicitis.AspenBio Appoints Robert Caspari, M.D. as Chief Operating Officer and Chief Medical Officer: Financial News - Yahoo! Finance"
:thumbs:Leave a comment:
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