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The Satellite News Financial Ticker

By Staff Writer | February 23, 2004

      Week of Feb. 13 – 19, 2004
      Percentage Change
      Symbol
      Feb. 19 Price
      OneWeek
      One Month
      Three Month
      Year to Date
      Operators
      APT SATELLITE HLDGS ATS
      2.51
      (1.6)
      (12.5)
      19.5
      5.5
      ASIASAT TELECOM SAT
      20.70
      1.7
      6.2
      24.4
      9.1
      BRITISH SKY BROADCASTING BSY
      55.28
      (6.3)
      (1.9)
      18.3
      8.5
      ECHOSTAR COMM -CL A DISH
      36.68
      (5.5)
      1.7
      8.1
      7.9
      HUGHES ELEC (GM -CL H) GMH
      17.04
      (0.4)
      (1.1)
      7.5
      3.0
      LORAL SPACE & COMM LOR
      0.75
      (10.7)
      29.3
      120.6
      138.1
      NEWS CORP NWS
      38.05
      (0.9)
      2.7
      11.0
      5.4
      NEW SKIES SATELLITES NSK
      6.88
      (1.1)
      (5.8)
      1.6
      (3.9)
      PANAMSAT SPOT
      22.79
      1.3
      13.2
      12.4
      5.7
      PASIFIK SATELIT NUSANTARA PSNRY
      0.24
      14.3
      33.3
      (20.0)
      380.0
      PEGASUS COMMUNICATIONS PGTV
      26.10
      (5.0)
      (39.6)
      25.1
      (7.1)
      SES GLOBAL SESF.LU
      7.90
      –
      0.6
      2.6
      (1.3)
      SIRIUS SATELLITE RADIO SIRI
      2.90
      (6.8)
      (7.9)
      37.8
      (8.2)
      XM SATELLITE RADIO XMSR
      23.40
      4.5
      (12.7)
      11.0
      (11.0)
      Operators’ Average
      100.00
      (1.2)
      0.4
      20.0
      38.0
      Manufacturers
      ANDREW ANDW
      16.52
      (5.6)
      (6.7)
      50.0
      42.5
      BALL BLL
      64.70
      (0.3)
      10.8
      18.5
      8.6
      BOEING BA
      44.52
      0.3
      1.2
      13.0
      5.6
      COM DEV INTL *CDV
      2.90
      (0.3)
      (3.3)
      (4.3)
      0.7
      EMS TECHNOLOGIES ELMG
      22.20
      (4.5)
      (12.9)
      1.4
      8.1
      GARMIN GRMN
      46.62
      (2.7)
      (19.3)
      (9.7)
      (14.4)
      GILAT SAT NETWORKS GILTF
      7.51
      (10.9)
      14.5
      54.5
      53.6
      GLOBECOM GCOM
      6.02
      (7.2)
      16.9
      4.9
      26.7
      HARRIS HRS
      49.38
      (1.7)
      21.9
      34.3
      30.1
      HONEYWELL HON
      35.72
      (3.3)
      (4.6)
      22.7
      6.9
      KVH KVHI
      17.15
      (9.7)
      (8.7)
      (39.9)
      (37.8)
      LOCKHEED MARTIN LMT
      48.46
      (1.7)
      (5.9)
      5.8
      (5.7)
      LUCENT TECHNOLOGIES LU
      4.03
      (8.0)
      (12.6)
      30.8
      41.9
      MOTOROLA MOT
      17.41
      (0.6)
      2.7
      31.6
      24.4
      NERA NERAY
      2.35
      –
      0.8
      15.0
      13.3
      ORBITAL SCIENCES ORB
      13.31
      (0.9)
      0.2
      40.0
      10.7
      QUALCOMM QCOM
      58.79
      0.3
      (1.5)
      27.7
      9.0
      RAYTHEON RTN
      32.04
      2.0
      0.1
      16.7
      6.7
      ROCKWELL COLLINS COL
      32.68
      (0.9)
      (1.0)
      22.1
      8.8
      SCIENTIFIC-ATLANTA SFA
      32.65
      (2.5)
      (2.1)
      18.0
      19.6
      SKY FRAMES SKYU
      0.10
      900.0
      9,900.0
      (88.9)
      –
      TITAN TTN
      20.98
      (3.8)
      (3.6)
      (0.9)
      (3.8)
      TRIMBLE NAVIGATION TRMB
      33.73
      (5.0)
      (20.4)
      16.3
      (9.4)
      VIASAT VSAT
      26.01
      (3.7)
      6.2
      29.4
      35.9
      Manufacturers’ Average
      100.00
      34.5
      411.4
      12.9
      11.7
      Nasdaq Composite Index
      Nasdaq comp
      2,045.96
      (1.3)
      (4.4)
      7.7
      2.1
      SP 500 sp50
      1,147.06
      (0.4)
      0.6
      10.0
      3.2
      SN Stock Price Average
      100.00
      21.4
      260.0
      15.5
      21.4

       

      Wall Street Analysis

      By Paul Dykewicz, PBI Media

      Hope that the fixed satellite services (FSS) sector is beginning to benefit from a mild recovery in demand for services either will be fueled or doused when Washington- headquartered Intelsat reports its fourth-quarter and full-year results March 2.

      Intelsat still is not a public company but it recently announced plans to conduct a previously delayed initial public stock offering (IPO) by June 30. Understandably, investors might be receptive to valuing the company a bit more highly if its prospects were on the upswing. Of course, Intelsat probably will end up helping itself with the IPO by completing its planned purchase of the North American satellite assets of struggling rival Loral Space [LRLSQ]. That deal is nearing a formal close that should take place when all the required approvals are received.

      One bellwether for how Intelsat may fare comes from competitor PanAmSat of Wilton, Conn., which released its fourth-quarter and year-end results Feb. 3. Joe Wright, PanAmSat’s CEO, tackled the issue of a potential market recovery head-on during the company’s recent conference call.

      “I’ve heard that some of the companies in our business expect the market to be turning around this year,” Wright said. “We don’t really see that as a general situation. It would be very nice. I would like for it to happen. But you can’t plan for it. So therefore, we’re going after really targeted opportunities, which we think are going to give us above-market growth.”

      If Wright proves as savvy a market forecaster this year as he has been in the past, do not expect Intelsat to report any really encouraging signs of an upturn.

      One bright spot is that U.S. transponder sales for broadcasting seem to be strengthening, Wright said. Until Intelsat’s purchase of Loral’s assets is complete, Intelsat will need to wait to benefit from that uptick.

      Paul Dykewicz is senior editor and senior analyst of SATELLITE NEWS. He can be reached at 301/354-1769 or at [email protected].

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