Sirius Moves Up on Word of $2 Billion Buyback and 2 Other Hot Stocks to Watch
Sirius XM Radio Inc. (NASDAQ:SIRI): Current price $3.95
Shares are up about 3 percent Thursday after Sirius’ board confirmed an additional $2 billion stock repurchase. The satellite radio provider said announced that it will pay for the repurchases through available cash, future cash flow from operations, and future borrowings. Sirius can purchase the shares on the open market or in privately negotiated transactions, including potential arrangements with Liberty Media and its affiliates, from which the company also said that it will repurchase $500 million shares.