The Satellite News Financial Ticker

By | April 19, 2004 | Feature

Week of April 9 – 15, 2004
Percentage Change
 
Symbol
April 15 Price
One Week
One Month
Three Month
Year to Date
Operators
APT SATELLITE HLDGS ATS 1.94 (1.0) (10.2) (28.9) (18.5)
ASIASAT TELECOM SAT 17.00 (5.6) (8.4) (13.3) (10.4)
BRITISH SKY BROADCASTING BSY 49.60 (1.8) (3.3) (12.7) (2.6)
ECHOSTAR COMM -CL A DISH 33.02 (0.2) (4.4) (7.7) (2.9)
THE DIRECTV GROUP DTV 17.19 5.7 11.8 2.5 3.9
LORAL SPACE & COMM LOR 0.48 (14.3) (21.3) 2.1 52.4
NEWS CORP NWS 36.90 (3.1) 5.3 (1.3) 2.2
NEW SKIES SATELLITES NSK 6.95 (0.6) 8.8 (4.3) (2.9)
PANAMSAT SPOT 25.44 3.8 9.3 25.7 18.0
PASIFIK SATELIT NUSANTARA PSNRY 0.22 (10.2) 15.8 340.0
PEGASUS COMMUNICATIONS PGTV 25.66 (26.5) (23.6) (39.0) (8.6)
SES GLOBAL SESF.LU 7.34 4.9 1.9 (7.1) (8.3)
SIRIUS SATELLITE RADIO SIRI 3.76 (2.1) 25.8 20.1 19.0
XM SATELLITE RADIO XMSR 27.20 (8.1) 6.7 0.4 3.5
Operators’ Average   100.00 (3.5) (0.8) (3.4) 27.5
Manufacturers
ANDREW ANDW
19.90
(4.2)
18.5
15.1
71.7
BALL BLL
69.59
(0.5)
7.2
21.0
16.8
BOEING BA
41.93
1.4
5.4
(2.6)
(0.5)
COM DEV INTL *CDV
2.71
(1.5)
5.0
(9.7)
(5.9)
EMS TECHNOLOGIES ELMG
19.33
(11.1)
4.2
(25.2)
(5.9)
GARMIN GRMN
40.19
(5.6)
0.9
(30.1)
(26.2)
GILAT SAT NETWORKS GILTF
8.09
(8.6)
3.7
22.0
65.4
GLOBECOM GCOM
5.30
(2.6)
(10.5)
2.1
11.6
HARRIS HRS
47.67
(5.0)
6.7
18.7
25.6
HONEYWELL HON
34.84
0.5
6.9
(4.5)
4.2
KVH KVHI
13.10
(8.6)
(7.6)
(30.8)
(52.5)
LOCKHEED MARTIN LMT
47.22
(0.7)
6.5
(7.8)
(8.1)
LUCENT TECHNOLOGIES LU
4.16
(6.5)
7.5
(6.9)
46.5
MOTOROLA MOT
16.68
(8.1)
2.1
2.3
19.1
ORBITAL SCIENCES ORB
12.20
(5.3)
4.0
(7.1)
1.5
QUALCOMM QCOM
65.18
(3.3)
3.8
8.8
20.9
RAYTHEON RTN
31.95
0.2
5.6
1.7
6.4
ROCKWELL COLLINS COL
32.69
1.4
7.6
(0.1)
8.9
SCIENTIFIC-ATLANTA SFA
31.45
(7.9)
1.9
(5.6)
15.2
SKY FRAMES SKYU
0.10
9,900.0
TITAN TTN
19.50
(0.3)
(2.7)
(10.4)
(10.6)
TRIMBLE NAVIGATION TRMB
23.32
(3.5)
9.1
(16.3)
(6.1)
VIASAT VSAT
23.66
(8.1)
(6.7)
(2.4)
23.6
Manufacturers’ Average  
100.00
(3.8)
3.4
427.5
9.6
Nasdaq Composite Index
Nasdaq comp
1,991.88
(3.0)
2.7
(5.6)
(0.6)
SP 500 sp50
1,130.73
(0.8)
2.4
(0.1)
1.7
SN Stock Price Average  
100.00
(3.7)
1.8
264.5
16.4

 

Wall Street Analysis

By Paul Dykewicz, PBI Media LLC

Cablevision’s [CVC] Rainbow DBS satellite TV business unit began providing commercial service in February, and it slowly is beginning to emerge as a legitimate competitor in the U.S. multi-channel video marketplace. The service, known as VOOM, is picking up subscribers through its Sears [S] retail distributors and via its own direct sales. VOOM’s subscriber base stood at 1,627 at the end of February, and its growth should accelerate as the service signs up additional retailers to distribute its programming. The service’s key selling point is an unparalleled 35 channels of HDTV programming.

VOOM should gain further sales traction due to its recent reduction in the price of its satellite TV receiving equipment to roughly $400 from nearly $750. Subscribers also will be given the option to rent a set-top box for $9.50 a month, on top of the monthly subscription fee that starts at $39.90 per month. VOOM’s willingness to subsidize the rollout of the service, combined with a growing U.S. demand for HDTV, also should aid its sales. Past drags on the growth of HDTV, including a lack of available programming and a dearth of HDTV-capable TV sets, also are becoming less problematic.

In addition, Cablevision appears to be on track to file a registration statement with the Securities and Exchange Commission in the coming weeks to spin off its Rainbow DBS unit. Such a move would unlock Rainbow DBS from Cablevision, and it would help the satellite TV company develop as an independent entity. Thomas Eagan, a satellite and cable analyst at Oppenheimer, cited several of these trends in a research note about VOOM and Cablevision.

The market currently does not give Cablevision much value for its national cable networks or the potential of its Rainbow DBS business, Eagan said in a phone interview with Satellite News Friday. Rainbow DBS ultimately may carve out an enhanced valuation on its own through its unprecedented original HDTV programming and whatever subscription satellite TV service revenues it develops, he added. In addition, a spin-off of Rainbow DBS would allow its debt to be refinanced to speed growth.

Those who think VOOM is a non-entity that will not impact either DirecTV or EchoStar Communications [DISH] ultimately may be surprised. VOOM is a service that is worth watching for more than just its unique programming.

Paul Dykewicz is senior editor and senior analyst of Satellite News. He can be reached at 301/354-1769 or at pdykewicz@pbimedia.com.

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