SFA news:
Scientific-Atlanta shares advance
Analyst ups 1999, 2000 earnings estimates
By David B. Wilkerson, CBS MarketWatch
Last Update: 2:10 PM ET May 11, 1999 Cable TV Index
Media Report
ATLANTA (CBS.MW) -- Shares of set-top box maker Scientific-Atlanta rose 4.2 percent Tuesday after SoundView Telecommunications analyst Truc Do upped his fiscal 1999 and 2000 earnings estimates on the company.
SFA
NYSE
Last Chg.
34 3/16 +1 5/16
% Chg. Vol.
+3.99% 744,000
Day Lo. Day Hi.
33 5/8 34 7/16
Open Prev.
33 7/8 32 7/8
As of
May 11/99 2:41 pm ET
Last Trade
May 11/99 2:18 pm ET
20 MIN. DELAY
Do raised his fiscal 1999 forecast to 73 cents per share from 71 cents, and his 2000 view to $1.19 from $1.15. He maintained his "strong buy" recommendation on the shares.
Scientific-Atlanta (SFA: news, msgs) shares rose 1 3/16 to 34 1/16 in recent trading. The stock is just short of its 52-week high of 35, set Feb. 24.
The analyst told CBS.MarketWatch.com he sees "increased demand" for digital set-top boxes, along with "interesting interactive applications that ... will drive set-top deployment even further."
Do also said Time Warner (TWX: news, msgs) is "well-prepared" to roll out set-top-box based services nationwide, which bodes well for Scientific-Atlanta.
Scientific-Atlanta and rival General Instrument (GIC: news, msgs) are also viable takeover targets for "given that cable broadband technology is becoming the key cornerstone" companies like AT&T (T: news, msgs) and Microsoft (MSFT: news, msgs).
Scientific-Atlanta's boxes can or will soon be used by cable operators to offer such services as video-on-demand, online shopping, e-mail, enhanced broadcasting, targeted advertising, Web browsing and home networking, as well as traditional cable television.
On Monday, the company announced a video-on-demand pact with privately-held SkyConnect. Financial terms weren't disclosed. See press release.
David B. Wilkerson is a reporter for CBS MarketWatch.
cbs.marketwatch.com |
