Don't look now, but shares of Sirius XM Radio (SIRI +1.4%) just hit a 4-year high of $2.64 after...

Don't look now, but shares of Sirius XM Radio (SIRI +1.4%) just hit a 4-year high of $2.64 after naysayers carped earlier this summer that they wouldn't ever see $2 again. The company confirmed today that it will use new debt issuance to retire higher-paying notes, a visibility move that SA author Stephen Faulkner applauds as balance sheet-friendly.
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  • herbfl
    , contributor
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    I have no idea where the price of siri stock is going. What I do know that the company and management have made all the right decisions to bring the company from the abyss. Now that there is substantial meaning to the company's operating performance, solid financial decisions are being made ie....issuing low cost debt and buying back high cost debt. There appears to be more new l/t debt in siri's future. This bodes well for the company. While I believe that there will be disruption in the price of the stock as the Liberty l/t position is sorted out, Liberty only wants the best for siri and its investment. If one has the patience this should be good for the l/t interest of siri......
    21 Aug 2012, 01:09 PM Reply Like
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