Dish Network Corp (DISH)

Shares of DISH Network Corporation (DISH) dropped by 37.43% from $5.49 to $3.44 in the trading on Monday, November 6, 2023. The reasons why DISH down include:

• Profit Miss and CEO Resignation: DISH missed profit expectations by a significant margin. CEO Erik Carlson's unexpected resignation, with Hamid Akhavan from EchoStar taking over, led to a stock drop as markets reacted to the leadership change.
• Revenue and Subscriber Decline: DISH's revenue for the second quarter dropped to $3.7 billion from $4.1 billion the previous year, missing the consensus estimate. The company also lost 64,000 subscribers, reflecting broader industry trends. DISH ended the quarter with 8.84 million pay-TV subscribers, including 6.72 million for Dish TV and 2.12 million for Sling TV. Its wireless business also faced challenges, losing 225,000 subscribers in the third quarter.
• Bottom-Line Loss and Asset Sale: DISH reported a per-share loss of $0.26, contrasting sharply with the previous year's per-share profit of $0.65 and the expected profit of $0.04. To raise cash, the company announced the sale of spectrum assets in Puerto Rico and the U.S. Virgin Islands for $256 million.
• Uncertain Future: With a CEO change, declining subscribers in both pay-TV and wireless segments, and increasing losses, DISH faces significant challenges. While the merger with EchoStar may offer potential, the road to recovery appears challenging. Investors should exercise caution due to the uncertainties surrounding DISH's future performance.

Shares of Dish Network Corporation (DISH) dropped by 7.87% from $5.59 to $5.15 in the trading on Tuesday October 3, 2023. The reasons why stock DISH is down today includes:

• FCC $150,000 penalty: On Monday, the Federal Communications Commission (FCC) imposed a $150,000 penalty on Dish, citing the Colorado-based company's failure to appropriately dispose of its discontinued direct broadcast satellite, EchoStar-7. This settlement with Dish represents the inaugural fine ever imposed on a company for space debris, according to FCC officials.
• Merger agreement update: The announcement on October 2nd regarding Dish Network's formal involvement in a revised and updated merger agreement with EchoStar and EAV Corp left investors perplexed. While this development may offer potential opportunities, it also presents significant challenges for the company, given that investors were disheartened by the stock's performance.

Shares of DISH Network Corporation declined 7.44% to $5.72 after T-Mobile pressured US Government over the delay by Dish in purchasing $3.5 billion worth of airwaves.

https://www.msn.com/en-us/money/other/t-mobile-pressures-us-government-over-dish-s-delayed-3-5b-airwaves-purchase/ar-AA1hi11v

DISH's stock fell 12.18% following the report of the company's struggling to sell assets to fulfill its commitment of achieving 70% coverage of the U.S. with its 5G network by the end of June.

https://www.marketwatch.com/story/dish-stock-tumbles-to-lead-s-p-500-decliners-2582abaa

The company DISH experienced a significant decline in subscribers for both its pay TV and prepaid wireless services after a cyber incident. In total, 552,000 net pay TV customers were lost, with 318,000 in DISH TV and 234,000 in Sling TV. Additionally, prepaid wireless phone subscribers declined by 81,000. The company's revenue declined by 8.5% to $3.96 billion, and earnings per share nearly halved to $0.35, missing analysts' expectations.

https://www.fool.com/investing/2023/05/09/why-dish-networks-plunged-today/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article