Latest News
The Satellite News Financial Ticker
|
Week of June 4 – 10, 2004
|
Percentage Change
|
|||||
|
Symbol
|
June 10 Price
|
One Week
|
One Month
|
Three Month
|
Year to Date
|
|
|
Operators
|
||||||
| APT SATELLITE HLDGS | ATS |
1.91
|
14.4
|
4.4
|
(18.4)
|
(19.7)
|
| ASIASAT TELECOM | SAT |
15.90
|
(2.2)
|
(2.8)
|
(20.1)
|
(16.2)
|
| BRITISH SKY BROADCASTING | BSY |
46.65
|
5.1
|
0.0
|
(10.8)
|
(8.4)
|
| ECHOSTAR COMM -CL A | DISH |
31.68
|
0.8
|
0.2
|
(7.6)
|
(6.8)
|
| THE DIRECTV GROUP | DTV |
17.25
|
(1.2)
|
0.8
|
6.5
|
4.2
|
| LORAL SPACE & COMM | LOR |
0.15
|
(9.4)
|
(74.1)
|
(81.2)
|
(54.0)
|
| NEWS CORP | NWS |
36.01
|
(1.5)
|
(1.6)
|
(1.3)
|
(0.2)
|
| NEW SKIES SATELLITES | NSK |
7.67
|
(5.1)
|
2.3
|
15.3
|
7.1
|
| PANAMSAT | SPOT |
23.21
|
0.4
|
1.3
|
(1.4)
|
7.7
|
| PASIFIK SATELIT NUSANTARA | PSNRY |
0.14
|
(36.4)
|
(36.4)
|
(44.0)
|
180.0
|
| PEGASUS COMMUNICATIONS | PGTV |
17.32
|
12.9
|
(4.3)
|
(53.6)
|
(38.3)
|
| SES GLOBAL | SESF.LU |
7.33
|
12.9
|
1.0
|
(1.9)
|
(8.4)
|
| SIRIUS SATELLITE RADIO | SIRI |
3.16
|
(0.3)
|
(0.6)
|
8.2
|
–
|
| XM SATELLITE RADIO | XMSR |
23.60
|
(4.4)
|
2.6
|
(7.7)
|
(10.2)
|
| Operators’ Average | 100.00 |
(1.0)
|
(7.7)
|
(15.6)
|
2.6
|
|
|
Manufacturers
|
||||||
| ANDREW | ANDW |
19.74
|
2.3
|
15.8
|
13.2
|
70.3
|
| BALL | BLL |
69.79
|
2.6
|
13.8
|
5.3
|
17.2
|
| BOEING | BA |
48.75
|
4.3
|
12.3
|
17.0
|
15.7
|
| COM DEV INTL | *CDV |
3.25
|
(0.9)
|
37.7
|
27.5
|
12.8
|
| EMS TECHNOLOGIES | ELMG |
19.99
|
(12.1)
|
6.3
|
1.2
|
(2.7)
|
| GARMIN | GRMN |
34.54
|
0.3
|
17.2
|
(18.5)
|
(36.6)
|
| GILAT SAT NETWORKS | GILTF |
6.26
|
10.4
|
4.7
|
(15.4)
|
28.0
|
| GLOBECOM | GCOM |
5.33
|
(2.7)
|
(19.4)
|
(11.6)
|
12.2
|
| HARRIS | HRS |
46.32
|
1.1
|
6.0
|
1.6
|
22.1
|
| HONEYWELL | HON |
35.40
|
5.1
|
4.4
|
4.2
|
5.9
|
| KVH | KVHI |
13.34
|
2.5
|
(0.6)
|
(15.7)
|
(51.6)
|
| LOCKHEED MARTIN | LMT |
50.95
|
2.0
|
4.9
|
13.3
|
(0.9)
|
| LUCENT TECHNOLOGIES | LU |
3.40
|
(0.3)
|
2.1
|
(12.8)
|
19.7
|
| MOTOROLA | MOT |
19.90
|
(0.6)
|
6.2
|
13.8
|
42.1
|
| ORBITAL SCIENCES | ORB |
13.09
|
1.9
|
6.6
|
6.7
|
8.9
|
| QUALCOMM | QCOM |
69.86
|
2.8
|
10.5
|
9.6
|
29.5
|
| RAYTHEON | RTN |
34.36
|
2.4
|
7.2
|
10.9
|
14.4
|
| ROCKWELL COLLINS | COL |
31.71
|
3.0
|
1.6
|
3.2
|
5.6
|
| SCIENTIFIC-ATLANTA | SFA |
34.29
|
(1.2)
|
8.2
|
2.0
|
25.6
|
| SKY FRAMES | SKYU |
0.01
|
–
|
(90.0)
|
(90.0)
|
(90.0)
|
| TITAN | TTN |
18.63
|
(2.6)
|
(0.6)
|
(2.7)
|
(14.6)
|
| TRIMBLE NAVIGATION | TRMB |
26.88
|
(2.0)
|
4.3
|
23.5
|
8.3
|
| VIASAT | VSAT |
23.93
|
2.8
|
6.4
|
(12.9)
|
25.0
|
| Manufacturers’ Average | 100.00 |
0.9
|
2.9
|
(1.2)
|
7.3
|
|
|
Nasdaq Composite Index
|
||||||
| Nasdaq | comp |
1,999.87
|
0.5
|
4.3
|
0.2
|
(0.2)
|
| SP 500 | sp50 |
1,136.47
|
1.0
|
3.4
|
(0.4)
|
2.2
|
| SN Stock Price Average |
100.00
|
0.2
|
(1.1)
|
(6.6)
|
5.5
|
|
Wall Street Analysis
By Paul Dykewicz, Senior Analyst/Senior Editor
DirecTV gained another legal victory in its battle with Pegasus Satellite Television last week when a federal judge in the U.S. bankruptcy court in Portland, Maine, entered an order that allows the largest U.S. satellite TV service provider to sell to customers in territories previously exclusively served by Pegasus.
The decision adds to the momentum that DirecTV has gathered in the marketplace by topping rival EchoStar Communications [DISH] in subscriber gains during recent quarters. DirecTV also helped itself by striking a deal with the National Rural Telecommunications Cooperative (NRTC) on June 1 to shore up the company’s rural marketing and sales efforts (SN, June 7). That agreement ended the NRTC’s exclusive DirecTV service distribution contract, effective immediately. Under that deal, the NRTC’s separate pacts letting its members and affiliates sell DirecTV in selected territories would be terminated Aug. 31, 2004. As the largest member of the NRTC, Pegasus Satellite Television was hurt by the new agreement between the NRTC and DirecTV. Pegasus, a unit of Pegasus Communications [PGTV], responded the following day by filing for Chapter 11- bankruptcy court protection June 2, along with certain of its subsidiaries.
Until the contract terminations take effect effective Aug. 31 for Pegasus and the other NRTC members, DirecTV will provide services through the NRTC to its members and to Pegasus on a non-exclusive basis.
Pegasus appears to be facing a difficult decision about how best to proceed with the loss of its non-exclusive territorial rights. Thomas Eagan, a satellite analyst with Oppenheimer, questioned the company’s strategy of filing for bankruptcy, as he doubts the move would protect Pegasus from losing its right or preventing its owner from avoiding legal claims against it if its business unit cannot pay.
Uncertainty about Pegasus continues to mount, and no answers appear to be at hand.
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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