Latest News
The Satellite News Financial Ticker
|
Week of May 9 – 15, 2003
|
Percentage Change
|
|||||
|
|
Symbol
|
May 15 Price
|
One Week
|
One Month
|
Three Month
|
Year to Date
|
|
Operators
|
||||||
| APT SATELLITE HLDGS | ATS |
1.66
|
27.7
|
38.3
|
0.9
|
(3.5)
|
| ASIASAT TELECOM | SAT |
14.59
|
3.5
|
8.4
|
17.2
|
28.1
|
| BRITISH SKY BROADCASTING | BSY |
44.43
|
1.7
|
11.4
|
14.8
|
10.9
|
| ECHOSTAR COMM -CL A | DISH |
31.60
|
(6.0)
|
11.0
|
25.9
|
42.0
|
| GENERAL ELECTRIC | GE |
28.47
|
(1.3)
|
2.6
|
26.6
|
16.9
|
| GILAT COMMUNICATIONS | GICOF |
0.07
|
(39.1)
|
–
|
(60.0)
|
(53.3)
|
| GLOBALSTAR TELECOM | GSTRF |
0.05
|
11.1
|
(20.0)
|
(4.8)
|
(3.8)
|
| HUGHES ELEC (GM -CL H) | GMH |
12.60
|
(1.0)
|
16.1
|
25.4
|
17.8
|
| IRIDIUM WORLD COMM | IRIDF |
0.16
|
6.7
|
23.1
|
52.4
|
45.5
|
| LORAL SPACE & COMM | LOR |
0.35
|
(20.5)
|
16.7
|
(5.4)
|
(18.6)
|
| NEWS CORP | NWS |
29.95
|
3.6
|
9.5
|
15.9
|
14.1
|
| NEW SKIES SATELLITES | NSK |
7.00
|
35.8
|
56.3
|
57.0
|
68.7
|
| PANAMSAT | SPOT |
18.44
|
2.7
|
14.8
|
38.9
|
26.0
|
| PASIFIK SATELIT NUSANTARA | PSNRY |
0.16
|
–
|
(40.4)
|
(3.1)
|
3.3
|
| PEGASUS COMMUNICATIONS | PGTV |
29.75
|
(6.9)
|
52.3
|
114.4
|
127.1
|
| SES GLOBAL | SES.LU |
5.17
|
(0.2)
|
1.4
|
7.7
|
(19.2)
|
| SIRIUS SATELLITE RADIO | SIRI |
1.40
|
26.1
|
115.4
|
86.7
|
118.8
|
| XM SATELLITE RADIO | XMSR |
10.05
|
(8.6)
|
58.0
|
166.6
|
273.6
|
| Operators’ Average |
100.00
|
2.0
|
20.8
|
32.0
|
38.6
|
|
|
Manufacturers
|
||||||
| ANDREW | ANDW |
9.78
|
8.3
|
60.3
|
8.5
|
(4.9)
|
| BALL | BLL |
54.00
|
(3.9)
|
(6.0)
|
3.0
|
5.5
|
| BOEING | BA |
30.09
|
6.0
|
10.4
|
(0.2)
|
(8.8)
|
| COM DEV INTL | *CDV |
0.40
|
8.1
|
–
|
(21.6)
|
(33.3)
|
| GILAT SAT NETWORKS | GILTF |
4.36
|
(0.5)
|
(9.2)
|
(42.6)
|
(44.1)
|
| GLOBECOM | GCOM |
2.95
|
1.7
|
13.5
|
(9.3)
|
(21.3)
|
| HARRIS | HRS |
29.66
|
3.1
|
8.4
|
(1.1)
|
12.8
|
| HONEYWELL | HON |
25.16
|
4.1
|
12.5
|
8.4
|
4.8
|
| KVH | KVHI |
17.26
|
10.4
|
26.2
|
56.9
|
100.7
|
| LOCKHEED MARTIN | LMT |
49.36
|
0.4
|
10.9
|
4.1
|
(14.5)
|
| LUCENT TECHNOLOGIES | LU |
2.25
|
0.4
|
50.0
|
32.4
|
78.6
|
| MOTOROLA | MOT |
9.07
|
13.1
|
13.7
|
8.0
|
4.9
|
| NERA | NERAY |
1.26
|
7.1
|
38.8
|
25.9
|
16.0
|
| NII NORSAT INTL | NSATF |
0.91
|
(1.1)
|
15.2
|
3.4
|
(8.5)
|
| ORBITAL SCIENCES | ORB |
5.78
|
(1.4)
|
8.4
|
9.1
|
37.0
|
| QUALCOMM | QCOM |
30.34
|
(5.0)
|
(8.2)
|
(12.6)
|
(16.6)
|
| RAYTHEON | RTN |
32.11
|
6.5
|
14.8
|
10.8
|
4.4
|
| ROCKWELL COLLINS | COL |
22.54
|
0.7
|
20.5
|
9.2
|
(3.1)
|
| SCIENTIFIC-ATLANTA | SFA |
20.10
|
24.4
|
35.9
|
55.8
|
69.5
|
| STM WIRELESS | STMI |
0.00
|
(95.0)
|
–
|
(99.8)
|
(99.8)
|
| TITAN | TTN |
8.16
|
(3.4)
|
15.7
|
(26.2)
|
(21.5)
|
| TRIMBLE NAVIGATION | TRMB |
24.15
|
2.6
|
17.4
|
47.7
|
93.4
|
| VIASAT | VSAT |
11.87
|
(1.6)
|
(0.7)
|
15.0
|
2.9
|
| Manufacturers’ Average |
100.00
|
(0.7)
|
15.2
|
3.7
|
6.7
|
|
| Nasdaq Composite Index | COMP |
1,551.38
|
3.0
|
12.0
|
18.4
|
16.2
|
| S & P 500 | SP50 |
946.61
|
1.8
|
6.9
|
13.4
|
7.6
|
| SN Stock Price Average |
100.00
|
0.5
|
17.6
|
16.1
|
20.7
|
|
Wall Street Analysis
By Tom Watts, SG Cowen Securities
Last week, Sirius Satellite Radio [Nasdaq: SIRI] took two important steps to transform itself into a viable competitor to industry front runner XM Satellite Radio [Nasdaq: XMSR]. With two able-bodied operators now vying to develop the U.S. satellite radio industry, we expect penetration to accelerate and both stocks to rise.
First, Sirius announced it plans to introduce two transportable “plug and play” units to compete with XM’s best-selling SkyFi unit. By the end of the first quarter, XM had sold 65,000 SkyFi units, more than any other aftermarket satellite radio product. Sirius has two plug & play units coming out – Kenwood’s unit should be ready this June and Audiovox’s should be on the market in mid-July. Retailers have already placed orders for 150,000 Sirius units.
Market research indicates Sirius garnered 26 percent of aftermarket sales in the first quarter. We expect Sirius’ share to rise with the introduction of the transportable units. Sirius plans to introduce additional “plug and play” products from other manufacturers by year-end.
Second, Sirius and Ford [NYSE: F] announced Ford’s plans to offer Sirius satellite radio equipment and service as an option in 65 models for the 2004 model year. Sirius has exclusive arrangements with the following OEMs to offer its equipment as a factory-installed option: Chrysler (16 models), Mercedes Benz (7 models), Ford (10 models), and BMW (5 models). Sirius has non-exclusive deals with Audi (4 models), Infiniti (6 models), and Nissan (2 models). The number of car models that offer Sirius equipment is approaching the number of models that offer XM’s equipment under exclusive deals with General Motors and Honda. While we do not expect Sirius to reach XM’s OEM levels this year or next, the expanded number of models should enable Sirius to begin narrowing XM’s lead in total subscribers.
Tom Watts is a managing director and satellite analyst at SG Cowen Securities. He can be reached by phone at 212/278-4260 or by e-mail at [email protected]. Readers should assume that SG Cowen Securities Corp. and/or its affiliates intend to offer services in investment banking to the above referenced companies within the next three months, and to seek compensation for such services.
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