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Technology Stocks : Orbital science (ORB)
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To: Gerald Walls who wrote (1837)7/3/1998 9:25:00 AM
From: Mohan Marette  Read Replies (2) of 2394
 
'The delay is good move for Orbcomm' says Paul Nisbet JSA Research.

Here is an article from The Wahsington Post on Orbcomm IPO delay.

Excerpts.

The decision to delay the IPO will not affect those launches, Cover said. In a statement yesterday, the partners reaffirmed plans to support the venture.

"We have some launches coming up this month and later this summer," she said "By the end of the summer, we will have 28 [satellites] up. The additional eight were always planned for 1999 anyway."

Analyst Paul H. Nisbet of JSA Research Inc. in Newport, R.I., said the delay was a good move for Orbcomm.

"It is just not a very favorable market for these telecom stocks. . . . They are all languishing from where they were," he said. "There is no reason to give away a good portion of the company for below-value price."

washingtonpost.com
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