Friday, February 13, 2009

U.S. stocks travel higher as Obama pushes economic stimulus

NEW YORK (MarketWatch) -- U.S. stocks erased early Friday losses to churn modestly higher as President Obama pressed for passage of an economic stimulus plan. The Dow Jones Industrial Average ($INDU:
Dow Jones Industrial Average
Last: 7,934.36+1.60+0.02%
11:02am 02/13/2009
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$INDU 7,934.36, +1.60, +0.0%) gained 28.36 points to 7,961.12. The S&P 500 ($SPX:
S&P 500 Index
Last: 835.59+0.40+0.05%
11:02am 02/13/2009
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$SPX 835.59, +0.40, +0.1%) added 2.71 points to 837.9, and the Nasdaq Composite (COMP:
Nasdaq Composite Index
Last: 1,547.38+5.67+0.37%
11:01am 02/13/2009
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COMP 1,547.38, +5.67, +0.4%) climbed 8.54 points to 1,550.25. End of Story
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XM Satellite exchanged $172.5 mln in senior notes

said Friday its wholly-owned subsidiary XM Satellite Radio Holdings had exchanged about $172.5 million aggregate principal amount of its outstanding 10% Convertible Senior Notes due December 2009 for a like amount of newly issued Senior Secured Notes due 2011. A total of $400 million in principal amount of the 10% Convertible Senior Notes due December 2009 was outstanding prior to this deal. The new Senior Secured Notes will mature
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