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The Satellite News Financial Ticker

By Staff Writer | March 8, 2004

      Week of Feb. 27 – March 4, 2004
      Percentage Change
      Symbol
      March 4 Price
      One Week
      One Month
      Three Month
      Year to Date
      Operators
      APT SATELLITE HLDGS ATS
      2.44
      3.0
      (5.4)
      (4.7)
      2.5
      ASIASAT TELECOM SAT
      20.38
      4.5
      7.0
      17.5
      7.4
      BRITISH SKY BROADCASTING BSY
      53.61
      (1.8)
      (4.3)
      14.3
      5.2
      ECHOSTAR COMM -CL A DISH
      35.98
      (1.9)
      (0.4)
      9.5
      5.9
      HUGHES ELEC (GM -CL H) GMH
      16.85
      (2.0)
      0.1
      2.7
      1.8
      LORAL SPACE & COMM LOR
      0.81
      20.9
      (12.9)
      169.1
      157.1
      NEWS CORP NWS
      37.42
      0.8
      2.4
      9.2
      3.7
      NEW SKIES SATELLITES NSK
      6.60
      (2.9)
      (5.7)
      (4.8)
      (7.8)
      PANAMSAT SPOT
      23.49
      2.3
      14.5
      7.1
      9.0
      PASIFIK SATELIT NUSANTARA PSNRY
      0.20
      (14.9)
      66.7
      1,900.0
      300.0
      PEGASUS COMMUNICATIONS PGTV
      40.33
      39.1
      (7.1)
      112.3
      43.6
      SES GLOBAL SESF.LU
      7.30
      (3.3)
      (17.0)
      (9.2)
      (8.8)
      SIRIUS SATELLITE RADIO SIRI
      2.99
      0.3
      7.6
      41.7
      (5.4)
      XM SATELLITE RADIO XMSR
      25.95
      8.4
      11.5
      5.1
      (1.3)
      Operators’ Average
      100.00
      3.7
      4.1
      162.1
      36.6
      Manufacturers
      ANDREW ANDW
      18.70
      12.7
      6.9
      63.3
      61.3
      BALL BLL
      65.08
      1.5
      2.6
      13.6
      9.2
      BOEING BA
      42.63
      (2.7)
      (1.1)
      10.7
      1.2
      COM DEV INTL *CDV
      2.85
      6.3
      (8.1)
      (10.9)
      (1.0)
      EMS TECHNOLOGIES ELMG
      21.45
      (7.8)
      (4.4)
      1.2
      4.4
      GARMIN GRMN
      46.52
      0.9
      (7.9)
      (15.3)
      (14.6)
      GILAT SAT NETWORKS GILTF
      7.74
      13.8
      1.0
      58.0
      58.3
      GLOBECOM GCOM
      6.59
      19.8
      9.8
      (0.5)
      38.7
      HARRIS HRS
      46.85
      (0.1)
      (4.2)
      22.0
      23.5
      HONEYWELL HON
      35.20
      0.7
      (0.8)
      18.8
      5.3
      KVH KVHI
      16.68
      7.9
      (10.8)
      (46.0)
      (39.5)
      LOCKHEED MARTIN LMT
      45.00
      (4.2)
      (7.0)
      (3.2)
      (12.5)
      LUCENT TECHNOLOGIES LU
      4.08
      (1.2)
      (9.1)
      33.8
      43.7
      MOTOROLA MOT
      18.36
      4.9
      11.4
      34.3
      31.1
      ORBITAL SCIENCES ORB
      12.63
      (1.9)
      (1.7)
      28.4
      5.1
      QUALCOMM QCOM
      62.57
      0.8
      8.9
      40.7
      16.0
      RAYTHEON RTN
      31.54
      3.1
      1.9
      11.7
      5.0
      ROCKWELL COLLINS COL
      31.94
      0.2
      (4.6)
      19.1
      6.4
      SCIENTIFIC-ATLANTA SFA
      33.72
      5.7
      0.4
      20.9
      23.5
      SKY FRAMES SKYU
      0.10
      –
      900.0
      –
      –
      TITAN TTN
      20.97
      0.3
      (3.1)
      (2.1)
      (3.9)
      TRIMBLE NAVIGATION TRMB
      35.03
      6.1
      (8.3)
      14.5
      (5.9)
      VIASAT VSAT
      27.97
      9.2
      14.6
      32.7
      46.1
      Manufacturers’ Average
      100.00
      3.3
      38.5
      15.0
      13.1
      Nasdaq Composite Index
      Nasdaq comp
      2,055.12
      1.6
      (0.5)
      4.8
      2.6
      SP 500 sp50
      1,154.87
      1.0
      1.7
      8.5
      3.9
      SN Stock Price Average
      100.00
      3.5
      25.5
      70.7
      22.0

      Wall Street Analysis

      By Paul Dykewicz

      A group of Wall Street satellite analysts offered a spirited defense of the prospects for U.S. satellite TV operators last week. Satellite TV will be able to put forth a competitive bundle of video, broadband and possibly voice services through partnerships with telecommunications companies to compete with their fierce cable television rivals, the analyst predicted.

      The words of support were offered last Tuesday in Washington during a panel discussion at the Satellite 2004 conference sponsored by PBI Media LLC, the publisher of Satellite News. One of the most avid advocates of satellite broadcasting was Bob Peck, a satellite analyst with Bear Stearns.

      “At the end of the day, you [as a consumer] spend more on the cable bundle,” said Peck. “A bundle of DSL and DBS is cheaper than going to your own cable guy.”

      Tom Watts, a satellite and telecom analyst with SG Cowen, said satellite historically has been “cheaper” than cable, and the trend is continuing. It is a significant factor for people who are price-sensitive, he added. However, he did say DSL is an “inferior” service to cable, and it involves a trade-off for consumers who prefer the price and quality of satellite video but who still want a bundled service from their satellite provider.

      Patrick Fuhrmann, a satellite analyst with ABN AMRO, said satellite companies should focus on providing video and data packages to remain competitive. “Satellite TV video is superior and it is adding value-added services,” he added.

      Satellite TV service providers also are staying ahead of the competition with the rollout of personal video recorders (PVRs) and HDTV programming, the analysts said. DirecTV will lead the way in the deployment of PVRs, Fuhrmann said. Hoyt Davidson, a principal with the boutique investment-banking firm Near Earth of New Canaan, Conn., added that the Voom satellite TV service provided by Rainbow DBS is taking the lead in the delivery of HDTV.

      Clearly, Wall Street is sending the message that satellite TV still has plenty of upside for growth.

      Paul Dykewicz is the senior editor and senior analyst of Satellite News. He can be reached by e-mail at [email protected] or by phone at 301/354-1769.

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