In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
Last week, EchoStar released its 10-K’s for DBS, Dish Networks, and Hughes. With these filings, we can see all the movements of cash between entities in the fourth quarter, and most of the shuffling in the first quarter. In this note, we review these cash transfers as well as the internal spectrum sale that helped fund Networks through the first quarter.
EBITDA results were better than we feared. It appears that most of the EBITDA pressure anticipated in the S-4 was due to non-cash impairment charges. FCF was as we expected despite this (worse than consensus). Management anticipates negative FCF for 2024, which is worse than we thought (though we don’t know what they are assuming for capex). They don’t have resources to meet November 2024 maturities.
EchoStar (previously Dish) is hosting a conference call on Friday at noon to discuss 4Q23 results (details). Consensus estimates appear to be a mess with not all analysts updating for the merger close. We do our best to make sense of expectations in light of how we think the Company will report results in this brief note. The key areas of focus will be funding maturities in late 2024, prospects for new debt exchanges, subscriber growth at Boost, and savings from moving Boost traffic on networ...
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
We continue to see strong upside in satellite internet provider EchoStar Corp. (SATS) and increase our Model Portfolio holding accordingly. The company has seen increased network demand in this challenging time as more people are staying home due to either lockdown or working from home as a health precaution, and SATS is strategically poised to benefit from this ongoing environment. The Edge View... For the full earnings alert in May, please see here. While major businesses are globally facing ...
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
We see strong upside in satellite internet provider EchoStar Corp. (SATS) as the company sees its network demand increased in this challenging time. As more people are staying home due to either lockdown or working from home as a health precaution, the need for reliable data connection is made apparent and SATS' services are seen as critical to sustain the current working environment. SATS Increases Subscriber Base Even in Current Economic Environment 39,000 New Subscribers / Reaches New Total ...
GREATER CHINA Economics PMI: Aftermath of COVID-19 pandemic could be prolonged. Sector Aviation: 1Q20: Steep losses in 1Q20 not a surprise. Scaling back of emergency security response on COVID-19 should aid domestic traffic recovery. Results China Yongda Auto Services Holdings (3669 HK/BUY/HK$7.86/Target: HK$10.00):1Q20: Results slightly miss estimates, but businesses are recovering strongly. Maintain BUY. Target price: HK$10.00. Gree Electric Appliances (000651 CH/HOLD/Rmb54.77/Target: Rmb52.0...
GREATER CHINA Results China Mengniu Dairy (2319 HK/BUY/HK$26.60/Target: HK$32.50): 2019: Results beat expectations slightly; COVID-19 outbreak to weigh down 1H20. Haidilao International (6862 HK/SELL/HK$30.45/Target: HK$25.00): 2019: Earnings miss forecast; pressure on table turnover rates and margins. Huifu Payment (1806 HK/BUY/HK$2.53/Target: HK$3.60): 2019: The worst is over; digital transformation paying off. INDONESIA Update Erajaya Swasembada (ERAA IJ/SELL/Rp885/Target: Rp700): 2020 net p...
Relief measures aimed at the aviation sector should lead to an estimated cost savings of S$35m for SATS in FY21. More importantly, SATS’ key customer will be thrown a lifeline and this will reduce SATS’ risk profile. We estimate flight movements at Changi will dive 92% yoy in 1QFY21 and then gradually improve. If so, SATS could still be profitable in FY21. Upgrade to BUY. Target price: S$3.96.
KEY HIGHLIGHTS Strategy 2020 Supplementary Budget: Assisting sectors hard hit by COVID-19, as well as lower-income households and individuals. Update CapitaLand Mall Trust (CT SP/BUY/S$1.86/Target: S$2.72): Potential beneficiary of stimulus spending. SATS (SATS SP/BUY/S$3.32/Target: S$3.96): SATS to benefit from government’s wage support and likely capital infusion into SIA; upgrade to BUY. TRADERS’ CORNER Yangzijiang Shipbuilding (YZJSGD SP): Trading Buy Mapletree Industrial Trust (MIN...
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