The Satellite News Financial Ticker

By | June 14, 2004 | Feature

Week of June 4 – 10, 2004
Percentage Change
Symbol
June 10 Price
One Week
One Month
Three Month
Year to Date
Operators
APT SATELLITE HLDGS ATS
1.91
14.4
4.4
(18.4)
(19.7)
ASIASAT TELECOM SAT
15.90
(2.2)
(2.8)
(20.1)
(16.2)
BRITISH SKY BROADCASTING BSY
46.65
5.1
0.0
(10.8)
(8.4)
ECHOSTAR COMM -CL A DISH
31.68
0.8
0.2
(7.6)
(6.8)
THE DIRECTV GROUP DTV
17.25
(1.2)
0.8
6.5
4.2
LORAL SPACE & COMM LOR
0.15
(9.4)
(74.1)
(81.2)
(54.0)
NEWS CORP NWS
36.01
(1.5)
(1.6)
(1.3)
(0.2)
NEW SKIES SATELLITES NSK
7.67
(5.1)
2.3
15.3
7.1
PANAMSAT SPOT
23.21
0.4
1.3
(1.4)
7.7
PASIFIK SATELIT NUSANTARA PSNRY
0.14
(36.4)
(36.4)
(44.0)
180.0
PEGASUS COMMUNICATIONS PGTV
17.32
12.9
(4.3)
(53.6)
(38.3)
SES GLOBAL SESF.LU
7.33
12.9
1.0
(1.9)
(8.4)
SIRIUS SATELLITE RADIO SIRI
3.16
(0.3)
(0.6)
8.2
XM SATELLITE RADIO XMSR
23.60
(4.4)
2.6
(7.7)
(10.2)
Operators’ Average 100.00
(1.0)
(7.7)
(15.6)
2.6
Manufacturers
ANDREW ANDW
19.74
2.3
15.8
13.2
70.3
BALL BLL
69.79
2.6
13.8
5.3
17.2
BOEING BA
48.75
4.3
12.3
17.0
15.7
COM DEV INTL *CDV
3.25
(0.9)
37.7
27.5
12.8
EMS TECHNOLOGIES ELMG
19.99
(12.1)
6.3
1.2
(2.7)
GARMIN GRMN
34.54
0.3
17.2
(18.5)
(36.6)
GILAT SAT NETWORKS GILTF
6.26
10.4
4.7
(15.4)
28.0
GLOBECOM GCOM
5.33
(2.7)
(19.4)
(11.6)
12.2
HARRIS HRS
46.32
1.1
6.0
1.6
22.1
HONEYWELL HON
35.40
5.1
4.4
4.2
5.9
KVH KVHI
13.34
2.5
(0.6)
(15.7)
(51.6)
LOCKHEED MARTIN LMT
50.95
2.0
4.9
13.3
(0.9)
LUCENT TECHNOLOGIES LU
3.40
(0.3)
2.1
(12.8)
19.7
MOTOROLA MOT
19.90
(0.6)
6.2
13.8
42.1
ORBITAL SCIENCES ORB
13.09
1.9
6.6
6.7
8.9
QUALCOMM QCOM
69.86
2.8
10.5
9.6
29.5
RAYTHEON RTN
34.36
2.4
7.2
10.9
14.4
ROCKWELL COLLINS COL
31.71
3.0
1.6
3.2
5.6
SCIENTIFIC-ATLANTA SFA
34.29
(1.2)
8.2
2.0
25.6
SKY FRAMES SKYU
0.01
(90.0)
(90.0)
(90.0)
TITAN TTN
18.63
(2.6)
(0.6)
(2.7)
(14.6)
TRIMBLE NAVIGATION TRMB
26.88
(2.0)
4.3
23.5
8.3
VIASAT VSAT
23.93
2.8
6.4
(12.9)
25.0
Manufacturers’ Average 100.00
0.9
2.9
(1.2)
7.3
Nasdaq Composite Index
Nasdaq comp
1,999.87
0.5
4.3
0.2
(0.2)
SP 500 sp50
1,136.47
1.0
3.4
(0.4)
2.2
SN Stock Price Average
100.00
0.2
(1.1)
(6.6)
5.5

Wall Street Analysis

By Paul Dykewicz, Senior Analyst/Senior Editor

DirecTV gained another legal victory in its battle with Pegasus Satellite Television last week when a federal judge in the U.S. bankruptcy court in Portland, Maine, entered an order that allows the largest U.S. satellite TV service provider to sell to customers in territories previously exclusively served by Pegasus.

The decision adds to the momentum that DirecTV has gathered in the marketplace by topping rival EchoStar Communications [DISH] in subscriber gains during recent quarters. DirecTV also helped itself by striking a deal with the National Rural Telecommunications Cooperative (NRTC) on June 1 to shore up the company’s rural marketing and sales efforts (SN, June 7). That agreement ended the NRTC’s exclusive DirecTV service distribution contract, effective immediately. Under that deal, the NRTC’s separate pacts letting its members and affiliates sell DirecTV in selected territories would be terminated Aug. 31, 2004. As the largest member of the NRTC, Pegasus Satellite Television was hurt by the new agreement between the NRTC and DirecTV. Pegasus, a unit of Pegasus Communications [PGTV], responded the following day by filing for Chapter 11- bankruptcy court protection June 2, along with certain of its subsidiaries.

Until the contract terminations take effect effective Aug. 31 for Pegasus and the other NRTC members, DirecTV will provide services through the NRTC to its members and to Pegasus on a non-exclusive basis.

Pegasus appears to be facing a difficult decision about how best to proceed with the loss of its non-exclusive territorial rights. Thomas Eagan, a satellite analyst with Oppenheimer, questioned the company’s strategy of filing for bankruptcy, as he doubts the move would protect Pegasus from losing its right or preventing its owner from avoiding legal claims against it if its business unit cannot pay.

Uncertainty about Pegasus continues to mount, and no answers appear to be at hand.

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

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