Want another stock for your index?
This is going to be big.
"Buy low, Sell high"
"You got to know when to hold them and know when to
fold them"
Shop At Home jumps on coming Net news
By David B. Wilkerson, CBS MarketWatch
Last Update: 11:17 AM ET Jan 29, 1999
NASHVILLE, Tenn. (CBS.MW) Shares of television-based retailer Shop At Home skyrocketed 25 percent Friday morning on news the company plans to unveil Internet expansion plans and partnerships during a live national broadcast Feb.10.
SATH
NASD
Last Chg.
16 1/8 +4 1/4
% Chg. Vol.
+35.79% 4,788,500
Day Lo. Day Hi.
14 1/8 16 1/8
Open Prev.
14 1/2 11 7/8
As of
Jan 29/99 12:10 pm ET
Last Trade
Jan 29/99 11:55 am ET
15 MIN. DELAY
The stock (SATH) rose 3 to 14 7/8 in recent trading.
Shop At Home, which already offers online shopping through its site at shopathomeonline.com, said after the market closed Thursday that the announcement will be seen on the Shop At Home Network and the Echostar DISH and Primestar satellite services.
It will also be simulcast on a new Web site launching Monday, sath.com.
The company will also release its fiscal second quarter earnings during the broadcast.
President and Chief Executive Kent Lillie said in a statement that Shop At Home chose to release the news this way "because our concept can best be presented in a multimedia format and because of the broad marketplace interest in our company and our plans."
Since mid-December, the stock has risen from the 5 level.
Shop At Home is seen in more than 60 million cable TV households across the U.S.
Thursday January 28, 5:37 pm Eastern Time
Company Press Release
Shop At Home Network to Unveil Internet Expansion Plans and Partnerships in National Broadcast on February 10
Second Quarter 1999 Earnings to be Released During Broadcast
NASHVILLE, Tenn.--(BUSINESS WIRE)--Jan. 28, 1999--Shop At Home, Inc. (Nasdaq:SATH - news), a diversified media company specializing in television and Internet shopping, today announced that it will unveil its Internet expansion plans and partnerships in a live national broadcast scheduled for February 10. The Company also plans to announce its second quarter 1999 earnings during the broadcast. The announcement will air from 7:30 a.m. to 8:00 a.m. EST on the Shop At Home Network as well as Echostar DISH Network and Primestar satellite services. The announcement will air locally in Nashville from 6:30 a.m. to 7:00 a.m. CST on Intermedia Channel 31.
The Company is creating a new site at www.sath.com to simulcast the announcement. The site will be available beginning Monday, February 1 so that individuals may download RealPlayer Plus G2 software, which is required to view the simulcast. The site will also provide a complete listing of local cable channels on which the announcement will air.
Shop At Home President and CEO Kent Lillie said, ''I believe this is the first time a company has released news to the market through a live national broadcast. We chose this medium to unveil our expansion plans because our concept can best be presented in a multimedia format and because of the broad marketplace interest in our company and our plans. We also wanted to give viewers the opportunity to ask questions about our plans, so we are setting up a toll-free question line and will devote a portion of the broadcast to answering call-in questions.''
Shop At Home is the country's second oldest and fastest growing home shopping network and 19th largest broadcaster. The Company reaches over 60 million full and part-time cable households for a portion of each day through its network of over 200 affiliated television and cable systems and its owned and operated stations. The Company currently provides online shopping at www.shopathomeonline.com.
''Safe Harbor'' Statement Under the Private Securities Litigation Reform Act of 1995 - This release contains forward-looking statements within the meaning of Section 27A of Securities act of 1933 and Section 21E of the Securities Exchange Act of 1934, including the statement regarding the expectation of continued revenue and earnings growth. Actual results may differ materially from those identified for a number of reasons as are discussed from time to time in Shop At Home's SEC reports, including but not limited to the report on Form 10-K for the year ended June 30, 1998 (Business and Management's Discussion and Analysis of Financial Condition and Results of Operations).
--------------------------------------------------------------------------------
Contact:
Shop At Home, Nashville
Kent E. Lillie or Dawn Woods, 615/263-8000
--------------------------------------------------------------------------------
More Quotes and News: Shop At Home Inc (Nasdaq:SATH - news)
Related News Categories: entertainment, internet, retail
This one you will probably like, but any stock that goes up you can make money on. |
