EchoStar Corp. SATS
In its first earnings release since the completion of its Reverse Morris Trust with DISH Network Corp. (DISH), EchoStar Corp. (SATS) has demonstrated the benefits of separating the BSS business and focusing on its more lean Hughes operations. Additional joint ventures in Brazil and Israel have been bolstered with the fresh acquisition of Helios Wire Corp., a satellite-enabled IoT connectivity company with huge potential for SATS.
13 November 2019
We continue with EchoStar (SATS) and Ensign’s (ENSG) Spinoff, Pennant Group (PNTG, to be listed), as ideas for this week with an update of our analysis on Nuance Communications (NUAN) and Prudential Plc (PRU LN) out shortly ahead of their Spins. Also, Danaher’s Dental IPO, Envista Holdings (NVST), has started strong +8% since its listing last week (Spin by Q1 2020). However, in our Spinoff Screener, NMRK and ARLO also had a strong first week post-IPO before showing heavy losses.
23 September 2019
Recapping last week’s Spins, EchoStar (SATS) jumped +6% since its Spin after removing its declining asset while Naspers (NPN SJ) created history by listing the second largest consumer internet company in Europe, Prosus (PRX NA), and its stock price leapt +26% on its first day of trading. With SATS a Model Portfolio holding and PRX exited to book profits, we turn our attention to Ensign Group (ENSG) and Nuance Communications (NUAN) as they both look break-up at the end of the month.
16 September 2019
Having experienced a subpar performance last year, yesterday’s (Sep 11th) Reverse Morris Trust (RMT) marked the catalyst needed for EchoStar Corp. (SATS), which allowed the company to Spinoff its declining BSS segment and merging it with DISH Network (DISH) and helping to create a leaner balance sheet (leverage at 0.1x) for SATS and allowing the management to focus on its core profitable segment (Hughes) with healthy top-line growth. Click here for more.
12 September 2019
As mentioned last week, both EchoStar Corp (SATS) and $100bn giant Naspers Ltd. (NPN SJ) will be breaking up this week starting from tomorrow (Sep 10) in order to create value for shareholders. With a significant discount in the when-issued trading for SATS and NPN creating the largest EU listed consumer internet company on the Euronext Amsterdam (primary listing), we encourage our client partners to send any questions over ahead of the split. Click here for more.
09 September 2019
Next week, global satellite provider EchoStar Corp (SATS) and $100bn giant Naspers Ltd. (NPN SJ) will both be breaking up in order to create value for shareholders. SATS will be removing its performance hampering segment while NPN will be creating the largest EU listed consumer internet company and its second Spinoff for 2019. For analysis and more on these situations, click here.
03 September 2019
Back in 2008, Dish Network Corp. (DISH) was Spun off from Parent EchoStar Corp. (SATS). In that transaction, DISH became a standalone cable broadcasting business while SATS continued to operate the satellites used by DISH and other partners, as well as the high-growth Hughes satellite internet business. Now, over a decade later, DISH will regain direct control of its nine satellites in a Reverse Morris Trust, leaving SATS with two leasable satellites and the Hughes segment.
30 August 2019
For those who missed the recent release of the Idea Generator, please see the attached PDF. Two new ideas will be released this week ahead of Labor Day weekend, one on global satellite provider EchoStar Corp (SATS) as well as our view on home healthcare business, The Ensign Group, Inc. (ENSG). Both these names will be broken-up within the next two months, along with Naspers (NPN SJ) and Nuance Communications (NUAN).
27 August 2019
Two new ideas will be released this week ahead of Labor Day weekend, one on global satellite provider EchoStar Corp (SATS) as well as our view on home healthcare business, The Ensign Group, Inc. (ENSG). Both these names will be broken-up within the next two months, along with Naspers (NPN SJ) and Nuance Communications (NUAN). For more on these names and more, click here.
26 August 2019
With the pending earnings/clarity around the Spinoff on Madison Square Garden (MSG) coming up tomorrow (Aug 20) and Perspecta’s (PRSP) recent blow-away results, the current top ideas remain for this week’s Idea Generator. You can also click in to see the newly announced Spins released last week (x4) and the upcoming US Spin by mid-September.
19 August 2019