CRACKED DISH?

Shares of satellite-TV provider DISH Network continued to slide in early trading today (Wednesday) after falling to a 52-week low on Tuesday. Shares were trading at $10.14 at midday on the NASDAQ, down from a 52-week high of $50.80. Earlier this month DISH chief Charlie Ergen indicated that his strategy was to "tread water" during the current economic turbulence. But some analysts are not convinced that's a sensible approach. In a message to clients, Sanford C. Bernstein analyst Craig Moffett said, "Hope springs eternal, but there are few tangible signs in DISH's third-quarter results that signal a turn is near." Other analysts are more optimistic, saying they expect DISH to turn around in the long haul. Banc of America Securities analyst Bryan Kraft wrote, "While valuation is very attractive, given DISH's operational challenges, it could take a year for the stock to work."

19/11/2008