Dish Taking Steps to Swoop Into Wireless Market

On the tail of two disappointing quarters of more than 100,000 subscriber losses, Dish Network (NASDAQ:DISH) announced that it is now seeing positive results. CEO Joe Clayton told Reuters, “I think you’ll see good fourth quarter results from us, and they will clearly show we’ve turned the corner.”  Clayton also said that his company is very serious about getting into the wireless arena.

Dish has already spent nearly $3 billion on wireless spectrum and assets in the past year, and now they are trying to further position themselves to enter the market. Currently the company is in a holding pattern while they wait for the ruling on the AT&T (NYSE:T) and T-Mobile merger. Reuters quoted Clayton, who said, “The FCC and the government, if the merger goes through, is going to dictate and demand a new carrier so there’s a minimum of four (carriers) and we believe we are going to be one of those and that’s what our plan is.”

Clayton also said his company would consider a partnership with T Mobile if the merger doesn’t go through. Dish would still need to acquire a wireless license from the FCC in order for that to take place. Dish would also need a partner if they were to venture into telephone services as well. But Clayton was quick to point out that Dish is not abandoning the TV market. Reuters quoted the CEO, who said, “Pay TV is going to generate tons of cash, $1.5 billion cash this year to help us fund the future. We think we are well-positioned with the Blockbuster acquisition, plus the wireless spectrum we have…The building blocks are already in place to evolve.”

Here’s how satellite and wireless stocks are trading now:

Dish Network Corp. (NASDAQ:DISH): DISH shares recently traded at $25.92, down $0.33, or 1.26%. They have traded in a 52-week range of $17.95 to $32.56. Volume today was 937,263 shares versus a 3-month average volume of 3,801,580 shares. The company’s trailing P/E is 7.95, while trailing earnings are $3.26 per share. Get the most recent company news and stock data here >>

AT&T, Inc. (NYSE:T): T shares recently traded at $28.87, down $0.17, or 0.59%. They have traded in a 52-week range of $27.20 to $31.94. Volume today was 4,603,116 shares versus a 3-month average volume of 28,641,200 shares. The company’s trailing P/E is 14.65, while trailing earnings are $1.97 per share. Get the most recent company news and stock data here >>

DIRECTV (NASDAQ:DTV): DTV shares recently traded at $45.61, down $0.38, or 0.83%. They have traded in a 52-week range of $39.12 to $53.40. Volume today was 806,851 shares versus a 3-month average volume of 6,636,040 shares. The company’s trailing P/E is 14.22, while trailing earnings are $3.21 per share. Get the most recent company news and stock data here >>

Verizon Communications Inc. (NYSE:VZ): VZ shares recently traded at $38.06, down $0.2, or 0.52%. They have traded in a 52-week range of $32.28 to $38.95. Volume today was 3,307,611 shares versus a 3-month average volume of 15,501,600 shares. The company’s trailing P/E is 15.30, while trailing earnings are $2.49 per share. Get the most recent company news and stock data here >>

Sprint Nextel Corp. (NYSE:S): S shares recently traded at $2.35, down $0.04, or 1.67%. They have traded in a 52-week range of $2.10 to $6.45. Volume today was 4,822,983 shares versus a 3-month average volume of 60,412,100 shares. The company’s trailing earnings are $-0.84 per share. Get the most recent company news and stock data here >>

EchoStar Corp. (NASDAQ:SATS): SATS shares recently traded at $21.40, down $0.65, or 2.95%. They have traded in a 52-week range of $20.22 to $38.47. Volume today was 22,097 shares versus a 3-month average volume of 186,680 shares. The company’s trailing P/E is 10.02, while trailing earnings are $2.14 per share. Get the most recent company news and stock data here >>

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