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Stock impact report

Why Sirius XM Stock Dropped an Unlucky 7% Today [Yahoo! Finance]

Liberty Media Corporation - Series A Liberty SiriusXM (LSXMA) 
Last liberty media corporation - series a liberty siriusxm earnings: 11/8 08:15 am Check Earnings Report
US:NASDAQ Investor Relations: ir.libertymedia.com/stockquote.cfm
Company Research Source: Yahoo! Finance
On Tuesday morning, management announced that Sirius had completed its merger with Liberty Media's Sirius XM tracking stock in a much-anticipated reverse stock split. It boasted that its new and improved "simplified capital structure" gives it a "clear path forward." Unfortunately, Wall Street decided the path for Sirius's stock price was down. What Sirius promised investors Is that fair? Consider the guidance numbers Sirius rolled out Tuesday: Revenue for fiscal 2024 will be approximately $8.75 billion, unchanged from prior estimates. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) should be about $2.7 billion -- also in line with prior expectations. Best of all, Sirius says it will generate approximately $1 billion in free cash flow this year. So far, so good, except... Wait. What? Turns out, that right there appears to be the reason that Sirius stock is tumbling. Five months ago, when giving guidance for 2024 as part of its first-qua Show less Read more
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