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The Satellite News Financial Ticker

By Staff Writer | February 2, 2004

      Week of Jan. 23 – 29, 2004
      Percentage Change
      Symbol
      Jan. 29 Price
      One Week
      One Month
      Three Month
      Year to Date
      Operators
      APT SATELLITE HLDGS ATS
      2.63
      (7.1)
      12.9
      17.9
      10.5
      ASIASAT TELECOM SAT
      19.01
      (6.3)
      (2.2)
      4.5
      0.2
      BRITISH SKY BROADCASTING BSY
      55.24
      (2.4)
      9.0
      26.3
      8.4
      ECHOSTAR COMM -CL A DISH
      36.55
      1.9
      7.3
      (6.3)
      7.5
      HUGHES ELEC (GM -CL H) GMH
      16.69
      (4.6)
      1.8
      5.0
      0.8
      LORAL SPACE & COMM LOR
      0.84
      (6.6)
      147.1
      147.1
      166.7
      NEWS CORP NWS
      36.56
      (3.8)
      5.2
      3.8
      1.3
      NEW SKIES SATELLITES NSK
      6.88
      (3.5)
      1.9
      11.0
      (3.9)
      PANAMSAT SPOT
      21.26
      3.8
      0.7
      3.5
      (1.4)
      PASIFIK SATELIT NUSANTARA PSNRY
      0.12
      (38.5)
      140.0
      (35.1)
      140.0
      PEGASUS COMMUNICATIONS PGTV
      45.49
      (9.3)
      47.9
      143.8
      62.0
      SES GLOBAL SESF.LU
      8.75
      10.8
      7.6
      16.7
      9.4
      SIRIUS SATELLITE RADIO SIRI
      2.75
      (9.1)
      17.1
      21.3
      (12.9)
      XM SATELLITE RADIO XMSR
      22.84
      (11.7)
      (6.0)
      20.3
      (13.1)
      Operators’ Average
      100.00
      (6.2)
      27.9
      27.1
      26.8
      Manufacturers
      ANDREW ANDW
      16.62
      (1.7)
      46.3
      26.1
      43.4
      BALL BLL
      61.22
      4.3
      3.7
      8.7
      2.8
      BOEING BA
      42.27
      (3.1)
      1.9
      17.3
      0.3
      COM DEV INTL *CDV
      3.15
      (3.1)
      5.7
      26.0
      9.4
      EMS TECHNOLOGIES ELMG
      21.67
      (12.2)
      8.9
      19.1
      5.5
      GARMIN GRMN
      53.14
      (7.8)
      (1.6)
      18.2
      (2.5)
      GILAT SAT NETWORKS GILTF
      7.50
      9.9
      52.1
      72.0
      53.4
      GLOBECOM GCOM
      5.99
      12.6
      19.8
      41.9
      26.1
      HARRIS HRS
      48.13
      (2.6)
      27.4
      32.3
      26.8
      HONEYWELL HON
      35.95
      (0.9)
      9.6
      21.3
      7.5
      KVH KVHI
      19.21
      (1.5)
      (27.7)
      (29.3)
      (30.3)
      LOCKHEED MARTIN LMT
      49.15
      (4.3)
      (3.1)
      8.0
      (4.4)
      LUCENT TECHNOLOGIES LU
      4.37
      (1.1)
      53.9
      51.2
      53.9
      MOTOROLA MOT
      16.78
      (0.2)
      21.9
      25.3
      19.9
      NERA NERAY
      2.35
      –
      17.8
      15.0
      13.3
      ORBITAL SCIENCES ORB
      12.80
      (4.8)
      5.5
      41.4
      6.5
      QUALCOMM QCOM
      57.43
      (2.3)
      8.3
      22.2
      6.5
      RAYTHEON RTN
      31.00
      (3.3)
      3.3
      18.8
      3.2
      ROCKWELL COLLINS COL
      33.51
      3.3
      14.2
      23.4
      11.6
      SCIENTIFIC-ATLANTA SFA
      33.29
      (5.5)
      20.7
      15.2
      21.9
      SKY FRAMES SKYU
      0.01
      900.0
      (90.0)
      (98.9)
      (90.0)
      TITAN TTN
      21.76
      (0.2)
      (0.2)
      3.6
      (0.2)
      TRIMBLE NAVIGATION TRMB
      36.98
      (11.6)
      1.4
      73.0
      (0.7)
      VIASAT VSAT
      23.21
      (4.1)
      23.1
      16.1
      21.3
      Manufacturers’ Average
      100.00
      35.8
      9.3
      19.5
      8.5
      Nasdaq Composite Index
      Nasdaq comp
      2,068.23
      (3.5)
      4.8
      7.0
      3.2
      SP 500 sp50
      1,134.11
      (1.2)
      3.5
      8.3
      2.0
      SN Stock Price Average
      100.00
      20.4
      16.1
      22.3
      15.3

       

      Wall Street Analysis

      By Paul Dykewicz

      Watch for DirecTV to unveil new technology that will enhance its personal video recorders (PVRs) in an effort that could pay off with additional subscribers and reduced churn.

      Conventional wisdom is that DirecTV would need to choose between TiVo [Nasdaq: TIVO] and NDS in the PVR arena, but that may not happen, according to a report last week by Thomas Eagan, a satellite and cable analyst with Oppenheimer. NDS held a meeting with Wall Street analysts last week that left Eagan with the impression DirecTV may go with both companies. TiVo might be used for DirecTV’s PVRs, while NDS middleware could be deployed for standard set-top boxes that currently lack PVR functionality, he wrote in a research note to his clients Thursday.

      Hughes Network Systems, acquired along with DirecTV by News Corp [NYSE: NWS] last December, stands a good chance of manufacturing both boxes. HNS currently makes the TiVo-DirecTV box, he added. Any need for DirecTV to choose either TiVo or NDS exclusively would be a “negative” for the satellite TV service provider, Eagan said. The reasoning is that DirecTV would lose cost savings that NDS technology could provide if it chose TiVo or risk losing the 750,000 customers who currently use TiVo-DirecTV PVR services.

      Vijay Jayant, a satellite and cable analyst with Lehman Brothers, expects DirecTV to invest in new advanced set-top technology and absorb higher subscriber acquisition costs in the near-term with the intent to boost its base of higher-paying, more loyal subscribers for the long-term. If so, DirecTV would be setting the pace for technology advances and rival EchoStar Communications [Nasdaq: DISH] certainly should be expected to respond with the introduction of new advanced set-top box equipment of its own.

      Competition between satellite TV and cable TV operators has been intensifying and the recent decisions by both DirecTV and EchoStar to raise their prices indicates that the battleground for subscriber gains and retention likely will focus on PVRs, advanced services, and the availability of high-definition TV programming.

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

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