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August 2008 Satellite Stock Performance Roundup

By | September 4, 2008
      [Satellite News 09-02-08] A majority of satellite companies enjoyed a mid-August boost following the release of its second quarter financial reports. However, trends also show that many of those companies did not ride the wave provided by the boost.
          Satellite stock values dipped towards the end of the month, though some were saved by late announcements that kept its share gains in positive territory.
      of the industry. Here is our stock market round-up for August:

      Lockheed Martin Corp. (NYSE: LMT) enjoyed a slight climb in its value for August, starting at just under $105 per share and finishing at $116. Lockheed acquired the government business unit of Nantero Inc., a privately-held, Massachusetts-based company that has developed methods and processes for incorporating carbon nanotubes in next-generation electronic devices.

      Sirius XM Radio Inc. (Nasdaq: SIRI) dropped from $1.46 to $1.34 after a month of ups and downs. Sirius’ standalone second quarter results, released Aug. 7, showed revenue increasing to $283 million, up 25 percent from the previous year. The company cut its net loss to $83.9 million in the second quarter, down from a loss of $134.1 million in the second quarter of 2007.

      Alliant Tech Systems Inc. (NYSE: ATK) climbed mid-month to a high of $111 per share before dropping to $105 per share at the end of the month – an increase of $6 from Aug. 1. The gains were driven by a series of military-related announcements.

      DirecTV Group Inc. (Nasdaq: DTV) increased its share value by $1 in August to just more than $28. The company enjoyed a climb early in the month after it reported second quarter 2008 revenues of $4.8 billion, an increase of 16 percent from 2007, and strong growth in Latin American markets. The company’s value has leveled off since.

      Dish Network Corp. (Nasdaq: DISH) share value decreased by $1 in August, dropping sharply from $31.50  in the middle of the month to just more than $28 at the end of the month. The company reported that it had lost 25,000 subscribers in its second quarter but has tried to recover with new subscription packages for people who may be affected by the switch to digital TV scheduled for February.

      Globalstar Inc. (Nasdaq: GSAT) saw a slight upward swing in its value, as shares opened Aug. 1 at $2.70 and closed the month at $3.10. Interest in the shares jumped following the announcement that Thales Alenia Space began production, assembly and testing of Globalstar’s new second-generation satellites.

      Hughes Communications Inc. (Nasdaq: HUGH), like most other companies in the industry, saw a mid-month rise after announcing its second quarter results, but then leveled off and dropped toward the end of the month only to be boosted by a late August announcement that it was launching business broadband internet access plans. The company’s share value opened at $43 on Aug. 1 and closed at $44 by the end of the month.

      Integral Systems Inc. (Nasdaq: ISYS) appeared on several stock pick lists after a strong third quarter showing reported in late July. Following the trend, Integral saw its mid-month boost increase its stock value to $53. However, an announcement that the company was splitting its stock dropped the per share value to $45, down almost $3 for the month.

      Comtech Telecommunications Corp. (Nasdaq: CMTL) announced that Comtech EF Data joined with Radyne’s satellite earth station business Aug. 1, and the company’s value fell from $49 to just more than $46 in a period of four days. The mid-month boost brought that value back up to where it started the month, following the announcement from company executives that business would remain “as usual” for loyal Radyne customers. However, shared finished at just under $46.

      Orbital Sciences Corp. (NYSE: ORB) turned in a $1 increase to $26.50, reaching $27 briefly after a unveiling a series of executive moves towards the end of the month. Orbital was selected by Intelsat Aug. 21 to manufacture the Intelsat-18 satellite and also announced it was expanding its Southern California operations with a new engineering and technology center scheduled to open this fall.

      Loral Space And Communications Inc. (Nasdaq: LORL) rode out its mid-month boost to finish at $18.50 per share, $2.50 higher than it started Aug. 1. Loral reported revenues of $208.1 million in its second quarter results. That figure was down from $226 million in the same period in 2007. However, the company posted a profit of $52 million, up from $20.6 million in the same period due to a $64 million in one-time gains.

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