Latest News
The Satellite News Financial Ticker
|
Week of Oct. 31 – Nov. 6, 2003
|
Percentage Change
|
|||||
|
Symbol
|
Nov. 6 Price
|
One Week
|
One Month
|
Three Month
|
Year to Date
|
|
| Operators | ||||||
| APT SATELLITE HLDGS | ATS |
2.72
|
24.8
|
36.0
|
(2.9)
|
58.1
|
| ASIASAT TELECOM | SAT |
17.90
|
–
|
22.6
|
7.5
|
57.2
|
| BRITISH SKY BROADCASTING | BSY |
44.30
|
0.3
|
2.8
|
(2.3)
|
10.6
|
| ECHOSTAR COMM -CL A | DISH |
36.63
|
(6.0)
|
(8.5)
|
4.0
|
64.6
|
| HUGHES ELEC (GM -CL H) | GMH |
16.47
|
3.7
|
13.0
|
23.2
|
53.9
|
| LORAL SPACE & COMM | LOR |
0.36
|
14.5
|
36.5
|
63.2
|
(91.7)
|
| NEWS CORP | NWS |
37.17
|
4.4
|
11.1
|
24.4
|
41.6
|
| NEW SKIES SATELLITES | NSK |
6.53
|
5.8
|
11.6
|
17.2
|
57.3
|
| PANAMSAT | SPOT |
21.07
|
0.3
|
38.1
|
27.9
|
43.9
|
| PASIFIK SATELIT NUSANTARA | PSNRY |
0.07
|
(62.2)
|
(63.2)
|
(54.8)
|
(53.3)
|
| PEGASUS COMMUNICATIONS | PGTV |
17.27
|
(7.1)
|
21.6
|
(51.7)
|
31.8
|
| SES GLOBAL | SESF.LU |
8.02
|
4.8
|
22.3
|
30.0
|
25.3
|
| SIRIUS SATELLITE RADIO | SIRI |
2.36
|
0.4
|
26.2
|
21.0
|
268.8
|
| XM SATELLITE RADIO | XMSR |
21.71
|
11.7
|
37.2
|
54.5
|
707.1
|
| Operators’ Average | 100.00 |
(0.3)
|
14.8
|
11.5
|
91.1
|
|
|
Manufacturers
|
||||||
| ANDREW | ANDW |
13.40
|
1.8
|
1.7
|
34.4
|
30.4
|
| BALL | BLL |
56.21
|
(0.5)
|
0.8
|
16.3
|
9.8
|
| BOEING | BA |
38.91
|
1.1
|
8.5
|
24.6
|
17.9
|
| COM DEV INTL | *CDV |
3.25
|
29.0
|
53.3
|
132.1
|
228.3
|
| EMS TECHNOLOGIES | ELMG |
21.22
|
17.2
|
20.2
|
29.0
|
36.3
|
| GARMIN | GRMN |
51.33
|
(1.4)
|
18.4
|
37.3
|
75.2
|
| GILAT SAT NETWORKS | GILTF |
4.75
|
(1.9)
|
0.6
|
1.5
|
(39.1)
|
| GLOBECOM | GCOM |
5.12
|
24.6
|
29.0
|
42.2
|
36.5
|
| HARRIS | HRS |
38.29
|
4.1
|
6.6
|
22.9
|
45.6
|
| HONEYWELL | HON |
30.39
|
3.1
|
12.4
|
9.3
|
26.6
|
| KVH | KVHI |
30.60
|
6.2
|
13.4
|
54.9
|
255.8
|
| LOCKHEED MARTIN | LMT |
46.36
|
(1.2)
|
1.4
|
(7.6)
|
(19.7)
|
| LUCENT TECHNOLOGIES | LU |
3.27
|
8.6
|
47.3
|
91.2
|
159.5
|
| MOTOROLA | MOT |
14.00
|
0.9
|
14.0
|
51.7
|
61.8
|
| NERA | NERAY |
2.07
|
(1.6)
|
(5.0)
|
(6.4)
|
91.2
|
| ORBITAL SCIENCES | ORB |
9.61
|
1.4
|
(0.2)
|
17.9
|
127.7
|
| QUALCOMM | QCOM |
46.79
|
(1.5)
|
6.4
|
29.9
|
28.6
|
| RAYTHEON | RTN |
26.94
|
1.1
|
(3.6)
|
(10.4)
|
(12.4)
|
| ROCKWELL COLLINS | COL |
27.99
|
2.4
|
9.0
|
9.6
|
20.3
|
| SCIENTIFIC-ATLANTA | SFA |
29.90
|
(0.3)
|
(11.0)
|
1.9
|
152.1
|
| SKY FRAMES | SKYU |
0.82
|
17.1
|
(31.7)
|
(18.0)
|
(89.8)
|
| TITAN | TTN |
21.22
|
0.4
|
1.6
|
40.3
|
104.0
|
| TRIMBLE NAVIGATION | TRMB |
29.40
|
6.1
|
21.2
|
13.9
|
135.4
|
| VIASAT | VSAT |
21.06
|
6.2
|
12.7
|
55.9
|
82.5
|
| Manufacturers’ Average |
100.00
|
5.1
|
9.5
|
28.1
|
65.2
|
|
|
Nasdaq Composite Index
|
||||||
| Nasdaq | comp |
1,976.37
|
2.1
|
5.1
|
18.1
|
48.0
|
| SP 500 | sp50 |
1,058.05
|
0.9
|
2.7
|
9.6
|
20.3
|
| SN Stock Price Average |
100.00
|
3.1
|
11.4
|
22.0
|
74.7
|
|
Wall Street Analysis
By Tom Watts, SG Cowen Securities
XM Satellite Radio’s [Nasdaq: XMSR] new XM Direct product could undermine rival Sirius Satellite Radio’s [Nasdaq: SIRI] original equipment manufacturer (OEM) distribution strategy. XM Direct enables any satellite-ready head unit, whether it is designed for XM or Sirius, to tune into XM using existing in-dash stereo controls. Our understanding is that XM’s new product would provide a converter to sit between the Sirius-ready head unit and an XM satellite receiver. A third party distributor will provide digital cable adapters and will package the product for both consumers and automobile dealers.
The XM Direct product will enable XM to target the large number of Sirius-ready vehicles being shipped by Sirius’ exclusive OEM partners DaimlerChrysler [NYSE: DCX], Ford [NYSE: F], and BMW. It also will give an automotive dealer, who previously could offer only Sirius, the opportunity to sell either Sirius or XM service. Further, it may encourage dealers not to order factory-installed Sirius systems, but to receive the Sirius-ready vehicles so the customer could have an XM or Sirius choice.
XM Direct further highlights the importance for Sirius to move to a factory-install basis rather than its current dealer-install basis. Sirius already is making strides in this direction. By year-end 2003, Sirius should be available in about 27 car models, up from about 20 currently. In 2004, factory installs should expand to 47 models, representing 2.8 million vehicles. The challenge, though, will be to get dealers to order the factory-installed units. Relying on this “pull” factor, rather than XM’s “push” strategy, where the automakers mandate how many vehicles will have XM, could represent a chink in Sirius’ new factory-install armor. XM Direct could be just the weapon to take advantage of that chink by encouraging Ford, DaimlerChrysler and BMW dealers to offer XM, as well as Sirius.
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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