Proposed low-Earth-orbit (LEO) operators Globalstar and Iridium fell over 5% and 8%, respectively, versus a week ago. Globalstar and Iridium have slid 18% and 31%, respectively, during the past month due largely to Iridium's satellite failures and doubts about its Sept. 23 commercial start. The DBS operators, on the other hand, did not fare so badly, with Echostar actually up over 2% and TCI Satellite Entertainment gaining more than 8%.
Diversified companies such as Loral Space & Communications and Orbital Sciences were down over 8% and 2%, respectively, in the past week. That dip actually marked a slowing in the deterioration of both stock prices during the past month when Loral and Orbital lost over 16% and 22%, respectively.
One stock that rebounded late last week was CD Radio, which jumped 5 points in one day. The hike was spurred by a positive report by Bear Stearns. But we advise prudence in this sector.
An index of satellite-related stocks prepared for SATELLITE NEWS by CIBC Oppenheimer. Commentary by analyst Marc Crossman (212/667-7042).
| THE SATELLITE NEWS FINANCIAL TICKER | ||||||
| Week of Aug. 3-7 | Percentage Change | |||||
|
|
Symbol |
Aug. 6 Price |
On Week |
One Month |
Three Month |
Year to Date |
| Operators | ||||||
| AMERICAN MOBILE SAT | SKYC | 7-1/4 | (14.7) | (28.0) | (31.8) | 3.6 |
| APT SATELLITE HLDGS | ATS | 6 | (25.2) | (32.1) | (48.4) | (49.5) |
| ASIASAT TELECOM | SAT | 16 | (0.4) | (12.3) | (11.7) | (4.8) |
| BOATRACS | BTRK | 4-2/3 | 0.0 | (1.3) | 7.1 | 92.3 |
| BRITISH SKY BROADCASTING | BSY | 41 | (4.8) | (5.5) | (2.8) | (7.7) |
| CD RADIO | CDRD | 28 | (2.0) | (24.2) | (2.0) | 64.9 |
| COMSAT -SER 1 | CQ | 30 | (1.6) | (3.2) | (25.9) | 24.0 |
| ECHOSTAR COMM -CL A | DISH | 25-5/8 | 2.5 | 2.5 | (0.5) | 53.0 |
| GENERAL ELECTRIC | GE | 88-4/5 | (2.7) | (3.3) | 6.9 | 21.0 |
| GILAT COMMUNICATIONS | GICOF | 8-3/8 | 3.1 | (15.2) | (11.8) | 13.6 |
| GLOBALSTAR TELECOM | GSTRF | 22 | (5.4) | (18.1) | (36.2) | (10.4) |
| IRIDIUM WORLD COMM | IRIDF | 41-3/8 | (8.6) | (31.5) | (41.1) | 13.4 |
| MCI COMMUNICATIONS | MCIC | 64 | (4.5) | 5.7 | 30.7 | 49.3 |
| NEWS CORP. | NWS | 27-4/9 | (8.0) | (14.9) | 0.2 | 23.0 |
| PANAMSAT | SPOT | 48-3/4 | (3.0) | (15.0) | (12.0) | 13.0 |
| PASIFIK SATELIT NUSANTARA | PSNRY | 10-3/4 | (4.4) | (22.9) | (27.4) | (30.1) |
| QUALCOMM | QCOM | 59-1/3 | (4.4) | 7.8 | 6.4 | 17.5 |
| TCI SAT ENTERTAINMENT | TSATA | 5-2/7 | 8.3 | (2.9) | (32.7) | (23.2) |
| US SAT BROADCST -CL A | USSB | 8-4/5 | (2.1) | (16.1) | (13.5) | 11.0 |
|
UNITED VIDEO SAT GP -CL A |
UVSGA | 35 | 0.0 | (11.1) | (18.6) | 21.7 |
| Operators Index |
|
157-1/3 | (3.2) | (5.4) | 6.6 | 22.9 |
| Manufacturers | ||||||
| ANDREW | ANDW | 16-1/4 | (6.5) | (11.3) | (24.9) | (32.3) |
| BALL | BLL | 41-3/4 | (4.6) | (2.8) | 9.5 | 18.0 |
| BOEING | BA | 37 | (5.3) | (23.8) | (26.3) | (24.3) |
| "CALIFORNIA MICROWAVE1,2" | CMIC | 15-1/2 | 2.5 | (11.7) | (32.2) | (20.0) |
| COM DEV INTL | *CDV | 7 | (6.0) | (24.1) | (72.4) | (76.7) |
| "GILAT SAT NETWORKS1,2" | GILTF | 37-1/4 | (3.2) | 8.8 | (1.0) | 30.1 |
| GLOBECOM | GCOM | 7-2/3 | (2.4) | (9.6) | (34.2) | (32.4) |
| HARRIS | HRS | 37-5/8 | (7.8) | (13.9) | (27.2) | (18.0) |
| HONEYWELL | HON | 82 | (1.7) | (3.4) | (9.4) | 19.6 |
| HUGHES ELEC (GM -CL H) | GMH | 44-3/8 | 0.9 | NM | NM | 20.1 |
| KVH | KVHI | 2-7/8 | 12.2 | 27.8 | (23.3) | (43.2) |
| LITTON | LIT | 52-3/4 | (8.0) | (12.6) | (12.0) | (8.3) |
| -- LOCKHEED MARTIN | LMT | 94-7/8 | (6.0) | (9.8) | (16.3) | (3.7) |
| LORAL SPACE & COMM | LOR | 25-4/9 | (8.7) | (16.3) | (17.4) | 18.7 |
| LUCENT TECHNOLOGIES | LU | 92 | (3.3) | 6.6 | 29.9 | 130.5 |
| MOTOROLA | MOT | 52-1/2 | 1.4 | (2.0) | (5.8) | (8.2) |
| NERA | NERAY | 2-1/8 | (8.1) | (10.5) | (34.6) | (61.4) |
| NEXTLEVEL SYSTEMS | NLV | 28 | 3.0 | (2.0) | 14.3 | 56.6 |
| NII NORSAT INTL | NSATF | 1 | (10.7) | (18.3) | (38.0) | (11.8) |
| ORBITAL SCIENCES | ORBI | 27-3/8 | (2.2) | (22.3) | (36.3) | (8.0) |
| ORTEL | ORTL | 18-4/9 | (6.1) | 15.2 | 34.1 | 17.1 |
| RAYTHEON | RTN | 55 | (0.7) | (5.1) | (2.3) | 8.8 |
| ROCKWELL INTL | ROK | 39-4/7 | (3.1) | (16.0) | (31.8) | (24.3) |
| SCIENTIFIC-ATLANTA | SFA | 24 | (4.0) | (8.8) | 2.1 | 42.9 |
| SSE TELECOM | SSET | 2-1/3 | (14.0) | (15.9) | (40.3) | (51.3) |
| "STANFORD TELECOM1,2" | STII | 11-3/8 | (4.2) | (18.8) | (29.5) | (32.8) |
| STM WIRELESS1 | STMI | 7-1/2 | (14.3) | (25.0) | (45.9) | (11.8) |
| TITAN | TTN | 5-1/2 | (4.3) | (16.2) | (30.2) | (12.0) |
| TRIMBLE NAVIGATION | TRMB | 11-1/2 | (8.0) | (28.1) | (37.6) | (47.3) |
| TRW | TRW | 52-2/3 | (4.9) | (6.3) | (0.7) | (1.3) |
| VERTEX | VTEX | 23 | 2.2 | (1.6) | (6.6) | (4.7) |
| "VIASAT1,2" | VSAT | 17-1/4 | (4.2) | (4.8) | 7.8 | 26.6 |
| Manufacturers Index |
|
161-1/6 | (3.2) | (4.1) | (2.3) | 24.6 |
| Nasdaq Composite Index | COMP | 1829-1/2 | (4.7) | (4.2) | (1.5) | 41.7 |
| S & P 500 | SP50 | 1089-5/8 | (4.7) | (5.8) | (1.4) | 47.1 |
| SN Financial Ticker Index* |
|
163.84 | (3.2) | (4.9) | 2.6 | 23.6 |
|
* A composite index; all indices are capitalization-weighted, with a base value of 100 on 1/2/96. 1. CIBC Oppenheimer or one of its affiliate companies makes a market in the securities of this company. 2. CIBC Oppenheimer or one of its affiliate companies managed or co-managed a public and/or private offering of securities for this company within the last three years. |
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