Meltdown for SES; boost for Intelsat
February 13, 2018
The world’s two largest satellite operators made very different impacts on their local stock exchanges on February 12th.
SES was hammered as a result of its worrying change of CEO and CFO. While some observers and analysts welcomed the news as representing a clean sweep at the top of the company, the market voted with its feet. SES’s share price crashed to a five-year record ‘low’ price of just €11.37, tumbling €1.44 (11.2 per cent).
SES will introduce the new CEO and CFO at the end-of-year results announcement on February 23rd.
Arch-rival Intelsat, in comparison, rocketed by 9.65 per cent to $2.84, and helped by last week’s announcement that Intelsat and SES would join Intel in a scheme to see some of their C-band frequencies used over the USA to help boost 5G take-up and connectivity.
Intelsat’s share price has been extremely volatile these past months and ranging in price from $7.32 as recently as October 12th but sliding down recently to just $2.48 on February 6th. In other words, Intelsat might be slowly climbing back to better days.
Intelsat will update the market with its latest results on February 26th.