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The Satellite News Financial Ticker
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Week of April 9 – 15, 2004
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Percentage Change
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Symbol
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April 15 Price
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One Week
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One Month
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Three Month
|
Year to Date
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|
|
Operators
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| APT SATELLITE HLDGS | ATS | 1.94 | (1.0) | (10.2) | (28.9) | (18.5) |
| ASIASAT TELECOM | SAT | 17.00 | (5.6) | (8.4) | (13.3) | (10.4) |
| BRITISH SKY BROADCASTING | BSY | 49.60 | (1.8) | (3.3) | (12.7) | (2.6) |
| ECHOSTAR COMM -CL A | DISH | 33.02 | (0.2) | (4.4) | (7.7) | (2.9) |
| THE DIRECTV GROUP | DTV | 17.19 | 5.7 | 11.8 | 2.5 | 3.9 |
| LORAL SPACE & COMM | LOR | 0.48 | (14.3) | (21.3) | 2.1 | 52.4 |
| NEWS CORP | NWS | 36.90 | (3.1) | 5.3 | (1.3) | 2.2 |
| NEW SKIES SATELLITES | NSK | 6.95 | (0.6) | 8.8 | (4.3) | (2.9) |
| PANAMSAT | SPOT | 25.44 | 3.8 | 9.3 | 25.7 | 18.0 |
| PASIFIK SATELIT NUSANTARA | PSNRY | 0.22 | – | (10.2) | 15.8 | 340.0 |
| PEGASUS COMMUNICATIONS | PGTV | 25.66 | (26.5) | (23.6) | (39.0) | (8.6) |
| SES GLOBAL | SESF.LU | 7.34 | 4.9 | 1.9 | (7.1) | (8.3) |
| SIRIUS SATELLITE RADIO | SIRI | 3.76 | (2.1) | 25.8 | 20.1 | 19.0 |
| XM SATELLITE RADIO | XMSR | 27.20 | (8.1) | 6.7 | 0.4 | 3.5 |
| Operators’ Average | 100.00 | (3.5) | (0.8) | (3.4) | 27.5 | |
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Manufacturers
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||||||
| ANDREW | ANDW |
19.90
|
(4.2)
|
18.5
|
15.1
|
71.7
|
| BALL | BLL |
69.59
|
(0.5)
|
7.2
|
21.0
|
16.8
|
| BOEING | BA |
41.93
|
1.4
|
5.4
|
(2.6)
|
(0.5)
|
| COM DEV INTL | *CDV |
2.71
|
(1.5)
|
5.0
|
(9.7)
|
(5.9)
|
| EMS TECHNOLOGIES | ELMG |
19.33
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(11.1)
|
4.2
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(25.2)
|
(5.9)
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| GARMIN | GRMN |
40.19
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(5.6)
|
0.9
|
(30.1)
|
(26.2)
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| GILAT SAT NETWORKS | GILTF |
8.09
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(8.6)
|
3.7
|
22.0
|
65.4
|
| GLOBECOM | GCOM |
5.30
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(2.6)
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(10.5)
|
2.1
|
11.6
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| HARRIS | HRS |
47.67
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(5.0)
|
6.7
|
18.7
|
25.6
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| HONEYWELL | HON |
34.84
|
0.5
|
6.9
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(4.5)
|
4.2
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| KVH | KVHI |
13.10
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(8.6)
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(7.6)
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(30.8)
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(52.5)
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| LOCKHEED MARTIN | LMT |
47.22
|
(0.7)
|
6.5
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(7.8)
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(8.1)
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| LUCENT TECHNOLOGIES | LU |
4.16
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(6.5)
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7.5
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(6.9)
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46.5
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| MOTOROLA | MOT |
16.68
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(8.1)
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2.1
|
2.3
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19.1
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| ORBITAL SCIENCES | ORB |
12.20
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(5.3)
|
4.0
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(7.1)
|
1.5
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| QUALCOMM | QCOM |
65.18
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(3.3)
|
3.8
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8.8
|
20.9
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| RAYTHEON | RTN |
31.95
|
0.2
|
5.6
|
1.7
|
6.4
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| ROCKWELL COLLINS | COL |
32.69
|
1.4
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7.6
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(0.1)
|
8.9
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| SCIENTIFIC-ATLANTA | SFA |
31.45
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(7.9)
|
1.9
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(5.6)
|
15.2
|
| SKY FRAMES | SKYU |
0.10
|
–
|
–
|
9,900.0
|
–
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| TITAN | TTN |
19.50
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(0.3)
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(2.7)
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(10.4)
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(10.6)
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| TRIMBLE NAVIGATION | TRMB |
23.32
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(3.5)
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9.1
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(16.3)
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(6.1)
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| VIASAT | VSAT |
23.66
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(8.1)
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(6.7)
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(2.4)
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23.6
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| Manufacturers’ Average |
100.00
|
(3.8)
|
3.4
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427.5
|
9.6
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|
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Nasdaq Composite Index
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||||||
| Nasdaq | comp |
1,991.88
|
(3.0)
|
2.7
|
(5.6)
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(0.6)
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| SP 500 | sp50 |
1,130.73
|
(0.8)
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2.4
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(0.1)
|
1.7
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| SN Stock Price Average |
100.00
|
(3.7)
|
1.8
|
264.5
|
16.4
|
|
Wall Street Analysis
By Paul Dykewicz, PBI Media LLC
Cablevision’s [CVC] Rainbow DBS satellite TV business unit began providing commercial service in February, and it slowly is beginning to emerge as a legitimate competitor in the U.S. multi-channel video marketplace. The service, known as VOOM, is picking up subscribers through its Sears [S] retail distributors and via its own direct sales. VOOM’s subscriber base stood at 1,627 at the end of February, and its growth should accelerate as the service signs up additional retailers to distribute its programming. The service’s key selling point is an unparalleled 35 channels of HDTV programming.
VOOM should gain further sales traction due to its recent reduction in the price of its satellite TV receiving equipment to roughly $400 from nearly $750. Subscribers also will be given the option to rent a set-top box for $9.50 a month, on top of the monthly subscription fee that starts at $39.90 per month. VOOM’s willingness to subsidize the rollout of the service, combined with a growing U.S. demand for HDTV, also should aid its sales. Past drags on the growth of HDTV, including a lack of available programming and a dearth of HDTV-capable TV sets, also are becoming less problematic.
In addition, Cablevision appears to be on track to file a registration statement with the Securities and Exchange Commission in the coming weeks to spin off its Rainbow DBS unit. Such a move would unlock Rainbow DBS from Cablevision, and it would help the satellite TV company develop as an independent entity. Thomas Eagan, a satellite and cable analyst at Oppenheimer, cited several of these trends in a research note about VOOM and Cablevision.
The market currently does not give Cablevision much value for its national cable networks or the potential of its Rainbow DBS business, Eagan said in a phone interview with Satellite News Friday. Rainbow DBS ultimately may carve out an enhanced valuation on its own through its unprecedented original HDTV programming and whatever subscription satellite TV service revenues it develops, he added. In addition, a spin-off of Rainbow DBS would allow its debt to be refinanced to speed growth.
Those who think VOOM is a non-entity that will not impact either DirecTV or EchoStar Communications [DISH] ultimately may be surprised. VOOM is a service that is worth watching for more than just its unique programming.
Paul Dykewicz is senior editor and senior analyst of Satellite News. He can be reached at 301/354-1769 or at [email protected].
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