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DISH miscalculates profits from new customer acquisitions – CLWR & S



Northern, WI 02/21/2013 (usmarketbuzz) – DISH Network Corp (NASDAQ:DISH) is America’s second largest satellite-television provider. The Englewood, Colorado-based company reported that it had not reached its projected profit margins as customer acquisition costs were on the rise and the company saw it’s net income falling from last years $313 million to $209 million. This missed market analyst estimates by a shocking $240.4 million. It’s sales also slid to $3.59 billion by 1.1% which again was higher than the estimated $3.56 billion.  Several factors led to this- there had been an increase in programming costs, higher gross additions due to an increase in customer acquisition costs as well as one-off incidental costs that included some litigation settlements.

The changing face of Dish

There isn’t too much of clarity in the DISH Network Corp (NASDAQ:DISH) market projection for 2013 either as the company may eventually end up offering its wireless services through a partnership with Sprint Nextel Corporation (NYSE:S) that is still in the pipeline. It plans on providing bundling services to its satellite TV customers. On the other hand it has pitted itself as a buyer against Sprint by putting forth a $3.30 per share buy-out rate for  Clearwire Corporation (NASDAQ:CLWR) stock, who had almost agreed to a takeover by Sprint Nextel Corporation (NYSE:S)  when the dish offer came in. If Clearwire Corporation (NASDAQ:CLWR) seals the DISH Network Corp (NASDAQ:DISH) deal, the latter may still move into a partnership with Sprint as planned.

Several plans up its sleeve

Charlie Ergen the Chairman said that even if the Clearwire deal falls through, the company will still be looking at prospective partnerships with existing wireless networks as it is keen on offering its customers new services. He also said that irrespective of whether Clearwire Corporation (NASDAQ:CLWR) happens or not, selling his spectrum is just a possibility and not an eventuality. DISH Network Corp (NASDAQ:DISH) lost customers in the 2nd and 3rd quarters of last year and as a lure tactic launched the Hopper set-top box. The device won top prize at the consumer electronics show that was held last month. Its 183,000 satellite broadband customers brought in revenue of $95 million in 2012.

Shares of DISH Network Corp (NASDAQ:DISH) were down by 0.17% to close at $36.03

Shares of Sprint Nextel Corporation (NYSE:S) were down by 1.86% to close at $5.79

Shares of Clearwire Corporation (NASDAQ:CLWR) were down by 0.95% to close at $3.12.


Top 3 Gainers: Zynga (NASDAQ:ZNGA), Eros International (NYSE:EROS), Borqs Technologies’ (BRQS)




Zynga (NASDAQ:ZNGA) is up 2.5% after Benchmark reiterated its Buy rating in a look-ahead at Q2 earnings. The firm’s expecting a beat and solid guidance for Q3, and it’s raising its guidance for the fiscal year.

Tailwinds from the pandemic won’t dissipate easily, Benchmark suggests, and the videogame maker’s acquisition of Peak (and with it new “forever franchises” in Toon Blast and Toy Blast) will drive audience, bookings, margins and free cash flow, it says. The firm has an $11 price target, now implying 14% upside.

Eros International (NYSE:EROS) is up 5.8% today, making up the last week’s lost ground, after news that its streaming service Eros Now is partnering with Sony India (SNE +2.3%).

That will mean Eros Now’s app is pre-installed on selected Sony smart televisions in India, along with availability on a large base of existing models (Bravia E series and newer).

The country over the past year has seen a 25% growth in demand for smart TVs, fueled by overall industry growth of 15%, to a record 15M units/year.

Borqs Technologies’ (BRQS) personal safety tracker sees strong market with increased orders from the electronics retail chain in the US.

The boost in product demand comes ahead coronavirus pandemic that provides company to expect delivery of 250K units this year. It reflects over 3x the volume delivered in 2019, the year of its launch.

Borqs’ mobile personal safety devices designed particularly for senior citizens come with panic button, location tracking, and fall detection.

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Biotech movers: Pfizer Inc. (PFE), Celgene Corporation (CELG)



Pfizer Inc. (PFE) said on Thursday it received a request for documents as part of a U.S. investigation related to quality issues involving the manufacture of auto-injectors at its Meridian Medical Technologies site.

Pfizer, in a regulatory filing, said it would be producing records in response to the civil investigative demand from the U.S. Attorney’s office for the Southern District of New York.

Why ASDN Could Massively Outperform PFE in 2019

Meridian, a unit of Pfizer that manufactures EpiPen injectors used to deliver an emergency allergy antidote, has been hit by a series of manufacturing problems in recent years. Mylan NV, which markets EpiPens, has recalled tens of thousands of the devices after complaints that some had failed to activate.

Bristol-Myers Squibb has been meeting with shareholders in Boston and New York over the last two weeks to try to salvage its $74 billion purchase of cancer drugmaker Celgene Corporation (CELG), the biggest acquisition announced so far this year.

Why Investors Are Calling ASDN the CELG of the Sky!

The deal, announced in January, was hard sell to Bristol shareholders from the start. The acquisition adds about $32 billion in fresh debt to Bristol’s balance sheet while assuming $20 billion in Celgene’s debt, the companies said at the time. After factoring in debt, the acquisition was the largest health-care deal on record, according to data compiled by Refinitiv.

Now, hedge funds Wellington Management and Starboard Value say the deal doesn’t sit well with them. Bristol has sent executives to New York to meet with institutional investors several times over the last two weeks and met with investors in Boston on Wednesday and Thursday, according to a person who briefed on the meetings.

Bristol-Myers declined to comment.

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Big Losers: Corbus Pharmaceuticals Holdings, Inc. (CRBP), Petróleo Brasileiro S.A. – Petrobras (PBR)



Corbus Pharmaceuticals Holdings, Inc. (CRBP)’s shares slumped as much as 16% to $6.94 on huge volume. The stock has been showing intense sell off suddenly after a bearish article on by Alpha Exposure.

The article stated that Corbus has ties to investors convicted of or alleged to have committed securities fraud. We believe lenabasum has failed its major trials in SSc and CF. Lenabasum was also denied Breakthrough Therapy Designation in SSc. We believe lenabasum will fail in its pivotal SSc and Phase 2b CF trials. We are short Corbus with a price target of $0.50.

Wow the future of Autonomous flight is finally here with the launch of ASDN passenger drone Elroy

Petróleo Brasileiro S.A. – Petrobras (PBR) is expanding its ambitious divestment program and has “bold” plans for sales, the Brazilian state-run oil company’s chief executive said after the firm posted its first annual profit in five years.

On a conference call with analysts to discuss fourth-quarter results, CEO Roberto Castello Branco said selling non-core assets will be key to deleveraging.

Petrobras, as the company is known, can reduce its ratio of net debt to earnings before interest, taxes, depreciation and amortization, or EBITDA, to 1.5 or even to 1, he added.

The University of Chicago-educated CEO, who took the reins in early January, has long been vocal about the need to slim down the sprawling firm and focus on core activities such as exploration and production. Thursday’s comments were some of his most assertive on the matter.

Why Investors Are Calling ASDN the TPC of the Sky!

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