The Satellite News Financial Ticker
Week of May 21-27, 2004
|
Percentage Change
|
|||||
Symbol
|
May 27 Price
|
One Week
|
One Month
|
Three Month
|
Year to Date
|
|
Operators
|
||||||
APT SATELLITE HLDGS | ATS |
1.85
|
3.4
|
(10.2)
|
(26.6)
|
(22.3)
|
Operators | ||||||
APT SATELLITE HLDGS | ATS |
1.75
|
0.6
|
(4.4)
|
(24.9)
|
(26.5)
|
ASIASAT TELECOM | SAT |
15.33
|
(1.1)
|
(8.2)
|
(20.1)
|
(19.2)
|
BRITISH SKY BROADCASTING | BSY |
45.22
|
2.0
|
(10.1)
|
(16.6)
|
(11.2)
|
ECHOSTAR COMM -CL A | DISH |
32.63
|
6.7
|
(5.3)
|
(11.8)
|
(4.0)
|
THE DIRECTV GROUP | DTV |
17.81
|
4.1
|
(0.8)
|
5.1
|
7.6
|
LORAL SPACE & COMM | LOR |
0.13
|
(56.7)
|
(77.2)
|
(79.7)
|
(58.7)
|
NEWS CORP | NWS |
36.84
|
3.0
|
(2.3)
|
(1.5)
|
2.0
|
NEW SKIES SATELLITES | NSK |
8.01
|
14.9
|
11.7
|
16.9
|
11.9
|
PANAMSAT | SPOT |
23.21
|
0.9
|
0.3
|
0.9
|
7.7
|
PASIFIK SATELIT NUSANTARA | PSNRY |
0.22
|
–
|
–
|
(6.4)
|
340.0
|
PEGASUS COMMUNICATIONS | PGTV |
16.51
|
30.3
|
(21.6)
|
(46.0)
|
(41.2)
|
SES GLOBAL | SESF.LU |
6.73
|
1.2
|
(13.9)
|
(10.9)
|
(15.9)
|
SIRIUS SATELLITE RADIO | SIRI |
3.06
|
(3.8)
|
(14.3)
|
2.0
|
(3.2)
|
XM SATELLITE RADIO | XMSR |
24.74
|
5.6
|
(9.9)
|
0.4
|
(5.9)
|
Operators’ Average | 100.00 |
0.6
|
(11.1)
|
(13.7)
|
13.1
|
|
Manufacturers
|
||||||
ANDREW | ANDW |
19.52
|
11.4
|
(5.1)
|
12.1
|
68.4
|
BALL | BLL |
67.08
|
3.9
|
(3.9)
|
4.6
|
12.6
|
BOEING | BA |
46.20
|
6.5
|
6.8
|
8.9
|
9.6
|
COM DEV INTL | *CDV |
2.44
|
5.6
|
4.3
|
(9.0)
|
(15.3)
|
EMS TECHNOLOGIES | ELMG |
21.99
|
17.3
|
22.0
|
(4.3)
|
7.1
|
GARMIN | GRMN |
34.34
|
11.2
|
(11.2)
|
(25.5)
|
(37.0)
|
GILAT SAT NETWORKS | GILTF |
5.73
|
8.5
|
(25.3)
|
(19.9)
|
17.2
|
GLOBECOM | GCOM |
5.90
|
9.3
|
(2.2)
|
14.3
|
24.2
|
HARRIS | HRS |
45.67
|
6.4
|
(4.4)
|
(4.6)
|
20.3
|
HONEYWELL | HON |
33.71
|
1.3
|
(3.0)
|
(3.5)
|
0.8
|
KVH | KVHI |
13.09
|
4.3
|
(15.2)
|
(21.0)
|
(52.5)
|
LOCKHEED MARTIN | LMT |
49.88
|
5.2
|
7.3
|
7.2
|
(3.0)
|
LUCENT TECHNOLOGIES | LU |
3.58
|
12.9
|
(6.0)
|
(15.0)
|
26.1
|
MOTOROLA | MOT |
19.80
|
2.3
|
(2.3)
|
9.5
|
41.4
|
ORBITAL SCIENCES | ORB |
12.77
|
4.2
|
(1.2)
|
0.5
|
6.2
|
QUALCOMM | QCOM |
66.76
|
5.0
|
0.9
|
4.8
|
23.8
|
RAYTHEON | RTN |
33.32
|
1.0
|
4.3
|
10.4
|
10.9
|
ROCKWELL COLLINS | COL |
30.03
|
0.9
|
(8.9)
|
(4.4)
|
–
|
SCIENTIFIC-ATLANTA | SFA |
34.02
|
3.8
|
(5.7)
|
5.3
|
24.6
|
SKY FRAMES | SKYU |
0.01
|
(90.0)
|
(90.0)
|
(90.0)
|
(90.0)
|
TITAN | TTN |
18.74
|
(2.3)
|
(3.7)
|
(11.0)
|
(14.1)
|
TRIMBLE NAVIGATION | TRMB |
27.30
|
13.2
|
20.0
|
21.3
|
10.0
|
VIASAT | VSAT |
23.01
|
2.2
|
(4.0)
|
(14.5)
|
20.2
|
Manufacturers’ Average | 100.00 |
1.9
|
(5.5)
|
(5.4)
|
4.9
|
|
Nasdaq Composite Index
|
||||||
Nasdaq | comp |
1,984.50
|
4.5
|
(2.6)
|
(2.4)
|
(0.9)
|
SP 500 | sp50 |
1,121.26
|
3.0
|
(1.3)
|
(2.1)
|
0.8
|
SN Stock Price Average | 100.00 |
1.4
|
(7.6)
|
(8.5)
|
8.0
|
|
Wall Street Analysis
The DirecTV Group [DTV] of El Segundo, Calif., seems to be waffling over whether it will pursue the SpaceWay satellite broadband system its Germantown, Md.- based Hughes Network Systems business unit is nearly ready to launch. Market rumors, media reports and speculation from Wall Street analysts suggest DirecTV is considering using the birds to supplement existing capacity of its DirecTV satellite TV service, selling the assets at a loss to reap a quick tax write-off or attempting to pursue video and broadband applications simultaneously.
The SpaceWay satellites are designed to provide Ka-band broadband services, and they are not well-suited technically to offer satellite TV. William Kidd, a satellite analyst with New York-based media research company Vintage Research, said Friday morning during a phone interview that he was skeptical a “technically feasible” video application could be found for the yet-to-be launched SpaceWay satellites. In Kidd’s view, DirecTV subscribers would need to use a new antenna and set-top box to gain any benefit from the satellites.
“Broadband in Ka-band is less problematic because an IP packet can always be resent, whereas video is simply lost,” Kidd wrote to his clients. Kidd questioned whether The DirecTV Group management wants to take on the challenge they inherited with SpaceWay when News Corp [NWS] bought Hughes Electronics (since renamed The DirecTV Group) last December to gain control of the largest U.S. satellite TV service. The high financial risk of the $1.9 billion SpaceWay project is compounded by the presence of other proposed Ka-band satellite services in the market place that have been restructured to reduce their cost bases, Kidd noted. A change in the plans for SpaceWay could allow its new owners to write down the value of the assets to more quickly gain tax loss advantages.
However, the SpaceWay satellites could be used to provide DirecTV subscribers with local channels through onboard spot beams. Despite this potential application, financial considerations and not technical capabilities will determine SpaceWay’s fate.
Paul Dykewicz is senior editor and senior analyst of Satellite News. He can be reached at 301/354-1769 or at [email protected].