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☆ Billionaire Charlie Ergen merging Dish and EchoStar to expand mobile and satellite telecom empire
▼ + stars: | 2023-08-08 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Billionaire Charlie Ergen is consolidating his telecom empire, merging his satellite and broadband services companies Dish Network and EchoStar in an all-stock deal. "This is a strategically and financially compelling combination that is all about growth and building a long-term sustainable business," Ergen, chairman of both Dish and EchoStar, said in a statement. The deal reunites two businesses that have been separate for about 15 years, as Ergen spun EchoStar out of Dish in 2008. The merger will exchange 2.85 shares of Dish common stock for each share of EchoStar stock, a 12.9% premium for EchoStar shareholders as of the July 5 trading close. EchoStar CEO Hamid Akhavan will continue on as part of the combined company, as President and CEO.

Persons: Charlie Ergen, Ergen, EchoStar, Hamid Akhavan, Erik Carlson, Akhavan, CNBC's David Faber Organizations: Dish Network

☆ Billionaire Charlie Ergen on merging Dish and EchoStar to expand mobile and satellite telecom empire
▼ + stars: | 2023-08-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBillionaire Charlie Ergen on merging Dish and EchoStar to expand mobile and satellite telecom empireDish and EchoStar chairman Charlie Ergen, and EchoStar CEO Hamid Akhavan join 'Squawk on the Street' to discuss Ergen's decision to merge Dish and EchoStar, how much the company will need to build out its wireless business, and more.

Persons: Charlie Ergen, Hamid Akhavan

☆ Watch CNBC's full interview with Dish's Charlie Ergen and EchoStar's Hamid Akhavan
▼ + stars: | 2023-08-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Dish's Charlie Ergen and EchoStar's Hamid AkhavanDish and EchoStar chairman Charlie Ergen, and EchoStar CEO Hamid Akhavan join 'Squawk on the Street' to discuss Ergen's decision to merge Dish and EchoStar, how much the company will need to build out its wireless business, and more.

Persons: Dish's Charlie Ergen, EchoStar's Hamid, Charlie Ergen, Hamid Akhavan

☆ Satellite reunion creates a bit of breathing space
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

Dish Network Chairman Charlie Ergen speaks during Google's annual developers conference in San Francisco, California May 20, 2010. Dish Network Corp, the No. Some 15 years after the 70-year-old billionaire initially cleaved his satellite empire, he unveiled an all-stock deal Tuesday to reunite Dish Network (DISH.O), the $4.5 billion pay-TV operator, with the smaller EchoStar (SATS.O) infrastructure business. Dish shareholders, who will own 69% of the enlarged entity, are issuing stock at a rock-bottom price for the privilege. If nothing else, though, the modest 13% premium they’re offering to EchoStar shareholders buys some valuable time.

Persons: Charlie Ergen, It’s, Jeffrey Goldfarb, Peter Thal Larsen, Sharon Lam Organizations: Dish, Dish Network Corp, Sprint Nextel Corp, Reuters, Nasdaq, Twitter, Siemens, Thomson Locations: San Francisco , California

☆ Stocks making the biggest moves premarket: UPS, Lucid, Beyond Meat, Novo Nordisk and more
▼ + stars: | 2023-08-08 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

The company reported an adjusted $2.11 per share on revenue of $8.31 billion, while analysts polled by Refinitiv forecasted $1.98 and $7.58 billion. Analysts surveyed by Refinitiv had penciled in a loss of 33 cents per share on $175 million of revenue. Palantir Technologies — Palantir Technologies slid 3.4% after the data analytics company reported its second-quarter results. Beyond Meat reported an adjusted loss of 83 cents per share on $102.1 million in revenue, while Refinitiv forecasted 86 cents and $108.4 million. Paramount Global — The media conglomerate's shares climbed more than 2% in premarket trading after the company reported a quarterly earnings and revenue beat.

Persons: Goldman Sachs, NASH, Banks, Moody's, Eli Lilly, EchoStar, Charlie Ergen, Refinitiv, Lucid, Palantir, Hims, Simon & Schuster, Yun Li, Samantha Subin, Sarah Min, Pia Singh, Jesse Pound Organizations: Sagimet, Goldman, T Bank, Citizens Financial, Bank of New York Mellon, Truist, JPMorgan Chase, Telsey, Refinitiv, Novo Nordisk —, Dish, United Parcel Service, behemoth, UPS, Palantir, Paramount Global, Paramount, KKR Locations: New York, Banks —

☆ Stocks making the biggest moves midday: Beyond Meat, Chegg, PNC Financial, Dish & more
▼ + stars: | 2023-08-08 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

The health care company reported earnings per share of $1.31. Organon posted $1.61 billion in revenue, beating analysts' expectations of $1.57 billion. Beyond Meat — The plant-based meat company fell 16% during midday trading after missing on second-quarter revenue, citing weak U.S. demand. The fragrance and cosmetics company reported revenue of $2.93 billion, falling shorter than analysts' estimates of $3.07 billion, according to StreetAccount. See Corp. — Shares of the packaging company lost 7% after See missed revenue expectations for the second quarter.

Persons: Moody's, Goldman Sachs, JPMorgan Chase, Organon, StreetAccount, Chegg, Charlie Ergen, EchoStar, Eli Lilly —, Eli Lilly, Palantir, —, Samantha Subin, Jesse Pound, Alex Harring, Hakyung Kim Organizations: PNC Financial, Citizens, T Bank —, T Bank, Webster, PNC, JPMorgan, Nordisk —, Technologies, Refinitiv . Fox Corp, Corp, —

☆ Charlie Ergen Nears Deal to Merge Dish, EchoStar
▼ + stars: | 2023-08-07 | by ( Lauren Thomas | Drew Fitzgerald | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Raymond James says this satellite stock can jump 40% and could even double
▼ + stars: | 2023-08-07 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Raymond James sees big gains ahead for satellite services company EchoStar . He set a base case price target of $28, which implies more than 44% upside from Friday's close. S-band refers to a frequency level critical to radars and satellite communication, used by shipping, aviation and space industries. EchoStar has S-band holdings worldwide that could generate significant revenue starting 2027, according to Prentiss. The analyst also set a bull case price target of $46, suggesting shares could rally up to 137% in an optimistic S-band expansion scenario.

Persons: Raymond James, Ric Prentiss, Prentiss, —, Michael Bloom Organizations: U.S . Locations: Prentiss

☆ Here are Monday's biggest analyst calls: Apple, Amazon, Cinemark, Nvidia, Meta, Berkshire Hathaway & more
▼ + stars: | 2023-08-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Monday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's sticking with its overweight rating after Apple's quarterly 10-Q report. Morgan Stanley upgrades Laureate to overweight from equal weight Morgan Stanley said the education company is a beneficiary of nearshoring. Morgan Stanley reiterates Palo Alto Networks as overweight Morgan Stanley said the company has a "differentiated" and "disruptive" platform. " UBS reiterates Berkshire Hathaway as buy UBS said it's standing by its buy rating on shares of Berkshire after its earnings report Saturday. Morgan Stanley reiterates Cinemark as overweight Morgan Stanley said it's standing by its overweight rating on Cinemark as the success of "Barbie" and "Oppenheimer" has "squashed" the theatrical bear case.

Persons: Morgan Stanley, Apple, DA Davidson, Andy Jassy, Wells, Holley, it's, Raymond James, Charles Schwab, Schwab, EchoStar, Guggenheim, Berkshire Hathaway, Cinemark, Oppenheimer, Truist, Piper Sandler, Piper, MNST, Wright Organizations: UBS, Meta, Facebook, Bank of America, Nvidia, U.S ., Networks, Alto Networks, United Airlines, Berkshire, Comcast, CNBC, Monster Beverage Locations: WhatsApp, nearshoring, United, Berkshire, NBCUniversal

☆ Dish Network enters dangerous financial orbit
▼ + stars: | 2023-07-31 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

Billionaire Charlie Ergen staked Dish Network’s (DISH.O) future on wireless spectrum, a decision looking worse by the day. The satellite operator has spent some $25 billion since 2008 acquiring the finite resource used to carry data. In January, Dish issued $1.5 billion of senior notes, secured by spectrum, with an 11.75% coupon. The satellite operator said on July 17 that its 5G network covered nearly three-quarters of the U.S. population. Dish must meet additional thresholds in 2025 or it could face up to $2.2 billion in fines and might be forced to forfeit wireless spectrum.

Persons: Charlie Ergen, Morgan Stanley, Semafor, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, Dish, New, Research, Dish Network, Amazon.com, U.S . Federal Communications Commission, Thomson Locations: EBITDA

☆ SpaceX aims to break a 56-year rocket record with back-to-back launches
▼ + stars: | 2023-07-27 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

SpaceX on Thursday night may break a record that's stood for over half a century, with back-to-back launches set to fly from Florida's Space Coast. ET for the launch of its Falcon 9 rocket from the Space Force's Space Launch Complex 40 (SLC-40), carrying Starlink satellites. SpaceX said the Falcon Heavy launch window opens at 11:04 p.m. SLD 45 noted in social media posts on Thursday that the pair of SpaceX launches may break a record set by the Gemini 11 mission in September 1966. That NASA mission used an Atlas-Agena D rocket and a modified Titan II rocket, which launched 1 hour, 37 minutes and 25 seconds apart.

Persons: Kennedy Organizations: SpaceX, Kennedy Space Center, Canaveral's, Falcon, U.S . Space Force, Gemini, NASA Locations: Cape Canaveral , Florida, U.S, Cape Canaveral

☆ Dish's Charlie Ergen looks to merge Dish and EchoStar, Semafor reports
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] Dish Network Chairman Charlie Ergen attends the Google's annual developers conference in San Francisco, California May 20, 2010. REUTERS/Robert Galbraith/File PhotoJuly 6 (Reuters) - Dish Network (DISH.O) Chairman Charlie Ergen is considering merging the two halves of his telecom empire, Dish and EchoStar (SATS.O), news publication Semafor reported on Thursday, citing people familiar with the matter. Dish and EchoStar did not immediately respond to Reuters' requests for comments. Dish's shares were 5% lower in afternoon trade while EchoStar's stock was down 3.4% amid weaker broader market. In 2008, EchoStar Communications, which was founded by Ergen as a satellite television equipment distributor in 1980, changed its name to Dish Network and spun off its technology arm as a new company named EchoStar Corp.

Persons: Charlie Ergen, Robert Galbraith, Yuvraj Malik, Sriraj Organizations: Dish, REUTERS, EchoStar Communications, Ergen, Dish Network, EchoStar Corp, Thomson Locations: San Francisco , California, Bengaluru

☆ Investing in Space: Here are the rockets chasing to compete with SpaceX's Falcon 9
▼ + stars: | 2023-06-08 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +14 min

SpaceXCNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. Overview: Chasing the FalconNo rocket has been better-described as a "workhorse" than SpaceX's Falcon 9. Aside from Blue Origin's New Glenn, the early theme is rockets that are close to the capability of Falcon 9 and less expensive. – CNBC, which the lawsuit says were used for NASA projects including the International Space Station and the Space Launch Systems rocket. – Firefly Aerospace: The rocket builder says the deal will bolster its launch, spacecraft, and lunar lander businesses.

Persons: CNBC's Michael Sheetz, Phil Smith, SpaceX's, Glenn, Smith, –, Smith doesn't, CNBC ULA, Tory Bruno, Jeff Bezos, ULA, – Read, Shepard, Bob Smith, Jim Free, Artemis, HawkEye, – Hydrosat, Leonardo DiCaprio, – Momentus, Westinghouse EchoStar's Hughes, – EchoStar, Iris Lan, Sumara Thompson, King, Lan, – NASA Celeste Ford, Ford, – SpiderOak Melissa Quinn, Quinn Organizations: SpaceX CNBC's, SpaceX, Falcon, Boeing, NASA, CNBC, CNBC Department of Defense, Ukraine, Starlink, Pentagon, –, Space Station, Systems, CNBC SpaceX, Cargo, International Space, FAA, Intelsat, Japan Airlines, Embraer, – Intelsat, Rocket, ONE, Washington, Spaceflight, Aerospace, Aerospace Spacecraft, York, MaC Venture Capital, Broom Ventures, Veto, TechCrunch Viasat, Air Force, Viasat, Westinghouse, U.S . Department of Justice, – NASA, Ford, Stellar Solutions Locations: Florida, China, Russia, Colorado, Ukrainian, Bellevue , Washington, Cortado, Cornwall

☆ Investing in Space: Is SpaceX's Starlink growing satellite internet market share, or taking it?
▼ + stars: | 2023-05-18 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +4 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. Just over two and a half years after SpaceX's Starlink first rolled out its beta service, the satellite internet company now has more than 1.5 million subscribers. Starlink "introduced a service that leapfrogs the capability, although not quite the cost," of existing satellite and terrestrial competitors. Brazil, he noted, is the most dramatic example of Starlink taking share from incumbent satellite providers, where Starlink has added nearly the same amount of customers that Hughes has lost. With Starlink going after nearly every market vertical – from consumers to governments and everything in between – Prokosh noted customers are often just adding Starlink to existing options.

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