Sirius XM To Be Added To The NASDAQ Q-50

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Rating: 8.5/10 (47 votes cast)

The NASDAQ OMX Group, Inc. (NASDAQ: NDAQ) announced today, that Sirius XM Radio (NASDAQ:SIRI) will be added to the NASDAQ Q-50 Index, following the results of its quarterly re-ranking. Sirius XM Radio’s addition to the Index will become effective with the market open on Monday, March 22, 2010. The Index is designed to track the performance of the 50 securities that are next in line to replace the securities currently included in the NASDAQ-100 Index.

The index has no minimum bid requirement. Qualification is based on market capitalization. The top 50 securities not currently in the NASDAQ-100 Index are selected for inclusion in the Index. The data used in the ranking includes end of January, April, July and October market data and are updated for total shares outstanding submitted.

To be eligible for inclusion in the Index, a security must meet the existing NASDAQ-100 Index eligibility criteria, stated as follows:

  • the security’s U.S. listing must be exclusively on the NASDAQ Global Select Market or the NASDAQ Global Market (unless the security was dually listed on another U.S. market prior to January 1, 2004 and has continuously maintained such listing);
  • the security must be issued by a non-financial company;
  • the security may not be issued by an issuer currently in bankruptcy proceedings;
  • the security must have average daily trading volume of at least 200,000 shares;
  • then such security must have listed options on a recognized options market in the U.S.if the issuer of the security is organized under the laws of a jurisdiction outside the U.S., or be eligible for listed-options trading on a recognized options market in the U.S.;
  • only one security per issuer is allowed;
  • the issuer of the security may not have entered into a definitive agreement or other arrangement which would likely result in the security no longer being Index eligible;
  • the issuer of the security may not have annual financial statements with an audit opinion that is currently withdrawn;
  • the issuer of the security must have “seasoned” on NASDAQ or another recognized market (generally, a company is considered to be seasoned if it has been listed on a market for at least two years; in the case of spin-offs, the operating history of the spinoff will be considered); and
  • if the security would otherwise qualify to be in the top 25% of the securities included in the Index by market capitalization for the six prior consecutive month-ends, then a one year “seasoning” criterion would apply.

For more information, see the following methodology.

Sirius XM To Be Added To The NASDAQ Q-50, 8.5 out of 10 based on 47 ratings

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19 Responses to “Sirius XM To Be Added To The NASDAQ Q-50”

  • sxminvestor says:

    The news just keeps getting better. Mel just needs to release the news early next week that they already have the extension and there is no need to worry about any delisting letter. Or do they have to go through the process of getting the letter and appealing ?

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  • 505 says:

    Brandon thanks for keeping us informed. On the nasdaq news release I was disappointed to see that they published the wrong stock ticker for SIRIUSXM (SIRI). XMSR is what they have.

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  • Sirius Exec says:

    That is SiriusXM Holdings NOT SiriusXM stock. Brandon you got it wrong again.

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    • Very funny Sirius Exec….Let me tell you something. XMSR is NO LONGER A VALID TICKER. Duh…they merged…

      SIRI will be added….it was a typo

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      • Sirius Exec says:

        Let me get this straight…You are running a Sirius XM website, and you have no idea that these two companies are still not merged and under a holding company? CLASSIC ! You may want to change this till you learn the current structure. They are still 2 entities. Won’t be for long though.

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      • John says:

        So Brandon-does this mean the non-compliance letter is no longer an issue?

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      • gp2racerx says:

        Brandon,

        what do you make of this from the form 10-K for year end 2009,,,

        SIRIUS and XM have also sought opportunities to jointly increase revenues. SIRIUS and XM have agreed to offer their respective subscribers programming packages that include “best of” programming from the other service. Each of SIRIUS and XM retains all the respective revenue generated from its respective “best of” programming package. The companies have also made arrangements to have XM radios offered in RadioShack, a retailer that was previously exclusive to SIRIUS.
        XM Holdings and XM are operated as unrestricted subsidiaries under the agreements governing SIRIUS’ existing debt. As unrestricted subsidiaries, transactions among the companies are required to comply with various contractual provisions in our respective debt instruments. The agreements between XM and SIRIUS are intended to permit both companies to share in the benefits of the inter-company arrangements in approximately equal proportion. The terms of the agreements between XM and SIRIUS are intended to be no more favorable to one company or the other than those that could be obtained at the time in an arm’s-length dealing with an unaffiliated firm or person.
        Certain operations have not yet been integrated in any significant respect. SIRIUS and XM expect to enter into additional arrangements as they continue to integrate their operations and pursue opportunities to realize cost savings and increase revenues.
        From time to time, we continue to evaluate options to further integrate SIRIUS and XM by completing either or both of a merger between XM Holdings and XM or a merger between SIRIUS and XM Holdings and/or XM.

        http://www.sec.gov/Archives/edgar/data/1091530/000095012310017183/c96834e10vk.htm

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        • The White Rose says:

          Thanks for posting this link…puts the status of the merger and everything else in perspective…

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  • sxminvestor says:

    It is so ironic that in the week leading to getting added to the Nasdaq Q-50, they are likely receiving a letter about being out of compliance for the overall Nasdaq. I am almost certain that Mel is working closely with them and has an answer already. I can’t even believe this is even a thought with a company with a 6 billion market cap trading 100M plus shares a day.

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    • MK says:

      When Mel gets his non compliance letter he will go take a fresh turd and wipe his ass with it.

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      • sxminvestor says:

        MK – that was one of the best comments I have heard – lmfao

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  • SyniSt3r says:

    Ok, So is this a good thing? I dont know much about what this means?
    Explain someone…

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  • sxminvestor says:

    Oh it is “seasoned” for sure !

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  • Tom says:

    With all this great news the stock SIRI still closed in the red, I thoght it was going to be up big can someone explain why? Also the fact that Sirius XM will be added to the NASDAQ Q-50does does it mean that they will not be getting the non-compliance letter any more?

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  • David says:

    The press release has been corrected now as I found out from a link someone posted on the yahoo message board. I am now convinced that this is the good news I have long awaited for to start the short squeeze.

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