Corporate Webpages Direc-TV Group Inc.
Direc-TV is an alternative to Dish Network or your local cable
company. News on this El Segundo-based company is very hard to
obtain. Part of this is due to its former association with
Hughes Electronics Corp. which made tracking somewhat difficult
and caused some of our major information sources to overlook the
stock altogether. It has had very strong technical performance
recently. But while our two favorite researchers, Market Grader
and Street.Com agree it is a "buy," almost no other research
group agrees with them except "the analysts." It has a bad
Zenith Index and as we tried to evaluate why, we found it had a
very low book value, high debt, a lot of institutional control
where institutions appear to be dumping the stock, and a stock
trading volume which we felt was out of proportion to company size.
It does appear to be taking market share away from both the
cable companies and Dish Network. Our own investigation
indicated the company had a greater diversity of satelites than
Dish which helped position it for foreign sources of income,
particularly in Latin America.
Its association with Hughes Aircraft/Aerospace was of particular interest
to us. Hughes was once consider "the jewel" of the aerospace
companies because the average length of stay for an employee was
seven years (considered high by aerospace standards.) Howard
Hughes was often criticized by us as an example of "too big to
fail" where crazy decisions by him did not totally sink his
various enterprises. One of the odd decisions was to run Hughes
Aircraft tax free by donating it to a non-profit organization,
Hughes Medical Institute. After Hughes' death in 1974, the
company was plagued by lack of quality control, cost overruns,
and an Air Force refusal to accept delivery of missiles produced
there. Further, accounting abuses caused loss of tax-exempt
status, and to settle with the IRS, the Medical Institute put
Hughes up for sale in 1984. This was an opportunity for
General Motors to gobble it up, but it had already gobbled up
Electronic Data Systems a year earlier, and was starting to get
top heavy with aerospace-type researchers such as were at Hughes
Research Laboratories, part of the deal. GM issued GM Class H
stock (now worthless along with the rest of GM stock) as part of
the deal.
The one bright spot in the deal was the satellite business. GM's
earnings began to plunge starting in the 1990's, and eventually
it divested itself of the lucrative satellite business in 1996
in order to focus on its automobile business. Direc-TV was at
that time a subsidiary of Hughes Electronics which included four
other subsidiaries. GM still maintained substantial interest in
Hughes.
News Corp. eventually bought Hughes Electronics after
substantial portions of the company were unloaded by GM. In
March, 2004 Hughes Electronics changed its name to The Direc-TV
Group, Inc. Wheeling and dealing continued throughout the
first decade of the 2000's and eventually Direc-TV severed all
ties with GM in 2006 by buying back $1.6 billion worth of stock.
In all the spinoffs, stock transactions, mergers, and buyouts associated with this
company, the ghost of GM-Hughes lingers on. GM Class H stock shareholders
always seemed to get the worst of each deal, and transactions were not made
with their best interests in mind. The company still pays no dividends, does not
appear to have much of an investor PR department, although it does heavy advertising
for its satellite TV service. Zenith sees a long history of disregard for shareholders
in both Hughes and GM histories. Some of the same corporate moguls are still
hanging around in the company from earlier days, and even News Corp. seems
have briefly had a controlling interest. It is hard for us to put our prejudices aside
regarding that fact, as vertically-integrated News Corp. is controlled by Rupert Murdoch,
and he is famous for Fox News distortions related to anything to do with Democrats,
so-called "liberals," or the Obama Administration to the point of ad nauseum. Fox commentators
are disgusting at best, and do not represent true professional journalism. Hopefully, News Corp.
is well out of the picture at Direc-TV by now having wheeled and dealed their way out of it.
Some researchers have found difficulty classifying it as a true broadcast network industry
group member and consider it more of an electronic equipment manufacturer.
12-23-2009: Direc-TV Group Inc. (DTV): A Checkered History of Various Owners
(WAIT FOR PAGE TO LOAD COMPLETELY BEFORE LINKS WORK.)
Company Profile
Company History
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Comparison with Peers
Bond Issue
Zenith Index
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Scout Stock Rating
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Research Reports
Analysts' Opinions
Insider Activity
Institutional Activity
Sentiment
Short Interest
Stock Report
Management's Discussion
Moving Average Chart
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Channel Potential
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Company Profile |
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Comparison |
Similar Companies Performance:
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Zenith Index |
DIRECTV Group, Inc. (DTV ) Sector: Technology
2230 East Imperial Highway Industry: Communication Equipment
El Segundo, CA 90245 Exchange: Nasdaq
The DIRECTV Group, Inc. provides digital television entertainment in
the United States and Latin America. It operates in two segments,
DIRECTV U.S. and DIRECTV Latin America. The DIRECTV U.S. segment
provides direct-to-home (DTH) digital television services, as well
as multi-channel video programming distribution services in the
United States. As of June 30, 2009, the segment had approximately
18.3 million subscribers with access to channels of digital-quality
video pictures and CD-quality audio programming. It distributes
approximately 2,000 digital video and audio channels, including
basic entertainment and music channels, premium movie channels,
regional and specialty sports networks, Spanish and other foreign
language special interest channels, pay-per-view movie and event
choices, and national high-definition television channels. This
segment also provides premium professional and collegiate sports
programming, such as the NFL SUNDAY TICKET package, which allows
subscribers to view the NFL games. The DIRECTV Latin America segment
provides DTH digital television services in Latin America and the
Caribbean, including Puerto Rico. As of June 30, 2009, PanAmericana
and Sky Brazil had approximately 4.17 million subscribers and Sky
Mexico had approximately 1.79 million subscribers. The DIRECTV
Group, Inc. has a strategic partnership agreement with Qwest
Communications International Inc. to offer DIRECTV services to
residential customers. The company was founded in 1977 and is based
in El Segundo, California.
Last Trade: 33.84 52-Week Range: 33.96 - 18.81
Trade Date: 12-21 Avg. Volume: 16,264,700 Shares
Index Membership: S&P 500 Employees: 18,300
Corporate Governance:
DIRECTV Group, Inc.'s Corporate Governance Quotient (CGQ-«) as of
1-Dec-09 is better than 20.2% of S&P 500 companies and 86% of Media
companies.
EPS: 1.29 Dividend Amount: $ 0.00 Yield: 0.00%
Ex-Dividend Date: 12-Aug-94 Mkt Cap: $ 32,380,000K
Payout Ratio: 0.00%
Last Split Factor (new for old): N/A Split Date: N/A
Key Statistics:
Enterprise Value: $ 35,480,000K Revenue (ttm) : $ 20,900,000K
Gross Profit: $ 9,740,000K
Earnings before Income Tax, Depreciation and Amortization: $ 5,070,000K
Enterprise Value/Revenue (ttm): 1.70 Revenue per Share: $ 20.67
Enterprise Value/EBITDA (ttm): 7.00 Qtrly Rev Growth (y to y): 9.70%
P/E Ratio (fwd projected): 15.31 P/E Ratio (current): 26.27
P/E Growth Ratio (5 yr expected): 1.15 Operating Margin: 11.55%
Price/Sales Ratio: 1.51 Profit Margin: 6.25%
Price/Book Value: 7.73 Book Value: $ 4.27/sh.
Return on Assets: 8.59% Net Income Avl to Common: $ 1,300,000K
Return on Equity: 25.95% Diluted Earnings/Share: $ 1.29
Qrtly Earnings Growth (yoy): 0.80%
Balance Sheet Items : Cash Flow Items (ttm):
(most recent qrtr) (trailing 12 mo.)
Total Cash: $ 3,290,000K Operating Cash Flow:$ 4,290,000K
Total Debt: $ 7,160,000K Lvgd Free Cash Flow:$ 1,950,000K
Total Debt/Equity: 0.00
Total Cash/Share: $ 3.44
Current Ratio: 1.28
Share Statistics: Stock Price History:
Shares Outstanding: 956,860K Stk 52-Week Change: 57.41%
Float: 954,980K S&P 500 52-Wk Chng: 24.17%
Sh. Short % of Float: 8.80% 50-Day Moving Avg: 30.87
Short Ratio: 1.90 200-Day Moving Avg: 26.55
% Held by Institutions: 53.70% Beta: 0.88
% Held by Insiders: 57.35%
Analysts' Estimates: Cur. Qtr Next Qtr Cur. Year Next Year
___________________________ Dec-09 Mar-10 Dec-09 Dec-10
Average Earnings Estimate 0.42 0.42 1.38 2.21
Average Revenue Estimate 5,930M 5,440M 21,510M 23,580M
Factors Comparing This Company to Its Industry Leader (1.0 = Average):
Long Term EPS Growth Rate (5 yr): 0.000 EPS Growth (Qrtly YoY): 0.005
PEG Ratio (ttm, 5 yr expected): 0.019 P/E Ratio (ttm): 0.103
Revenue Growth (Qrtly YoY): 0.000
Annual Income Statements: All numbers in thousands)
Period Ending 31-Dec-08 31-Dec-07 31-Dec-06
Total Revenue 19,693,000 17,246,000 14,755,500
Cost of Revenue 9,948,000 8,909,000 7,597,800
Gross Profit 9,745,000 8,337,000 7,157,700
Operating Expenses:
Research & Development 0 0 0
Selling, General & Administrative 4,730,000 4,167,000 3,884,200
Non-Recurring Expenses 0 0 -117,700
Other Operating Expenses 2,320,000 1,684,000 1,034,400
Total Operating Expenses 0 0 0
Operating Income or Loss 2,695,000 2,486,000 2,356,800
Income from Continuing Operations:
Total Other Income/Expenses Net 136,000 137,000 187,500
Earnings Before Interest & Taxes 2,831,000 2,623,000 2,544,300
Interest Expense 360,000 235,000 245,700
Income Before Taxes 2,471,000 2,388,000 2,298,600
Income Tax Expense 864,000 943,000 865,500
Minority Interest -92,000 -11,000 -13,000
Net Income from Continuing Op.s 1,515,000 1,434,000 1,420,100
Non-recurring Events:
Discontinued Operations 6,000 17,000 0
Extraordinary Items 0 0 0
Effect of Accounting Changes 0 0 0
Other Items 0 0 0
Net Income 1,521,000 1,451,000 1,420,100
Preferred Stock & Other Adjustmnts 0 0 0
Net Income Avail To Common Shares 1,521,000 1,451,000 1,420,100
Quarterly Income Statements: All numbers in thousands)
Period Ending 30-Sep-09 30-Jun-09 31-Mar-09 31-Dec-08
Total Revenue 5,465,000 5,218,000 4,901,000 5,314,000
Cost of Revenue 2,764,000 2,559,000 2,461,000 2,826,000
Gross Profit 2,701,000 2,659,000 2,440,000 2,488,000
Operating Expenses:
Research & Development 0 0 0 0
Selling, General & Adminis. 1,353,000 1,278,000 1,350,000 1,264,000
Non-Recurring Expenses 0 0 0 0
Other Operating Expenses 663,000 679,000 666,000 645,000
Total Operating Expenses 0 0 0 0
Operating Income or Loss 685,000 702,000 424,000 579,000
Income from Continuing Operations:
Total Other Income/Expenses Net 19,000 60,000 13,000 43,000
Earnings Before Int. & Taxes 704,000 762,000 437,000 622,000
Interest Expense 101,000 102,000 101,000 112,000
Income Before Taxes 603,000 660,000 336,000 510,000
Income Tax Expense 219,000 242,000 124,000 152,000
Minority Interest -18,000 -22,000 0 -32,000
Net Income from Continuing Op.s 366,000 396,000 212,000 326,000
Non-recurring Events:
Discontinued Operations 0 0 0 6,000
Extraordinary Items 0 0 0 0
Effect of Accounting Changes 0 0 0 0
Other Items 0 0 0 0
Net Income 366,000 396,000 212,000 332,000
Preferred Stock & Other Adj.s 0 11,000 -11,000 0
Net Income Avail To Common Shs 366,000 407,000 201,000 332,000
Annual Balance Sheets: All Numbers in Thousands
Period Ending 31-Dec-08 31-Dec-07 31-Dec-06
Current Assets:
Cash & Cash Equivalents 2,005,000 1,083,000 2,499,000
Short Term Investments 0 10,000 170,200
Net Receivables 1,491,000 1,625,000 1,511,200
Inventory 192,000 193,000 147,900
Other Current Assets 356,000 235,000 227,300
Total Current Assets 4,044,000 3,146,000 4,555,600
Long-Term Investments 923,000 838,000 806,700
Property, Plant & Equipt 6,647,000 5,833,000 4,453,200
Goodwill 3,753,000 3,669,000 3,515,000
Intangible Assets 1,172,000 1,577,000 1,810,600
Accumulated Amortization 0 0 0
Other Assets 0 0 0
Deferred Long Term Asset Charges 0 0 0
Total Assets 16,539,000 15,063,000 15,141,100
Current Liabilities:
Accounts Payable 3,115,000 1,400,000 2,815,900
Short/Current Long Term Debt 108,000 48,000 220,400
Other Current Liabilities 362,000 1,986,000 286,200
Total Current Liabilities 3,585,000 3,434,000 3,322,500
Long Term Debt 6,267,000 3,390,000 3,441,800
Other Liabilities 1,085,000 1,146,000 1,089,000
Deferred LT Liability Charges 646,000 780,000 544,800
Minority Interest 103,000 11,000 62,200
Negative Goodwill 0 0 0
Total Liabilities 11,686,000 8,761,000 8,460,300
Stockholder Equity:
Misc. Stocks Options Warrants 0 0 0
Redeemable Perferred Stock 0 0 0
Preferred Stock 0 0 0
Common Stock 8,540,000 9,318,000 9,836,200
Retained Earnings -3,559,000 -2,995,000 -3,106,700
Treasury Stock 0 0 0
Capital Surplus 0 0 0
Other Stockholder Equity -128,000 -21,000 -48,700
Total Stockholder Equity 4,853,000 6,302,000 6,680,800
Net Tangible Assets -72,000 1,056,000 1,355,200
Quarterly Balance Sheets: All Numbers in Thousands
Period Ending 30-Sep-09 30-Jun-09 31-Mar-09 31-Dec-08
Current Assets:
Cash & Cash Equivalents 3,293,000 2,272,000 2,105,000 2,005,000
Short Term Investments 0 0 0 0
Net Receivables 1,506,000 1,460,000 1,394,000 1,491,000
Inventory 234,000 222,000 198,000 192,000
Other Current Assets 443,000 328,000 338,000 356,000
Total Current Assets 5,476,000 4,282,000 4,035,000 4,044,000
Long-Term Investments 871,000 836,000 923,000 923,000
Property, Plant & Equipt 4,153,000 6,505,000 6,619,000 6,647,000
Goodwill 3,811,000 3,774,000 3,760,000 3,753,000
Intangible Assets 952,000 1,014,000 1,069,000 1,172,000
Accumulated Amortization 0 0 0 0
Other Assets 2,364,000 0 0 0
Deferred LT Asset Charges 526,000 393,000 383,000 362,000
Total Assets 17,627,000 16,411,000 16,406,000 16,539,000
Current Liabilities:
Accounts Payable 3,171,000 3,093,000 3,059,000 3,115,000
Current Portion LT Debt 572,000 183,000 120,000 108,000
Other Current Liabilities 0 0 0 0
Total Current Liabilities 4,269,000 3,669,000 3,562,000 3,585,000
Long Term Debt 6,591,000 5,604,000 5,696,000 6,267,000
Other Liabilities 1,625,000 1,701,000 1,743,000 1,085,000
Deferred LT Liab. Charges 723,000 543,000 562,000 646,000
Minority Interest 325,000 325,000 325,000 103,000
Negative Goodwill 0 0 0 0
Total Liabilities 13,533,000 11,842,000 11,888,000 11,686,000
Stockholder Equity:
Misc. Options, WarrantS 0 0 0 0
Redeemable Perferred Stock 0 0 0 0
Preferred Stock 0 0 0 0
Common Stock 7,834,000 8,100,000 8,225,000 8,540,000
Retained Earnings -3,665,000 -3,408,000 -3,578,000 -3,559,000
Treasury Stock 0 0 0 0
Capital Surplus 0 0 0 0
Other Stockholder Equity -75,000 -123,000 -129,000 -128,000
Total Stockholder Equity 4,094,000 4,569,000 4,518,000 4,853,000
Net Tangible Assets -669,000 -219,000 -311,000 -72,000
Annual Cash Flow: All Numbers in Thousands
Period Ending 31-Dec-08 31-Dec-07 31-Dec-06
Net Income 1,521,000 396,000 1,420,100
Operating Activites:
Depreciation 2,216,000 1,586,000 1,034,400
Adjustments to Net Income 255,000 467,000 670,400
Changes in Accounts Recv'bls 95,000 -166,000 -282,800
Changes in Liabilities -15,000 327,000 159,800
Changes in Inventories 18,000 -45,000 139,000
Changes in Other Op'ing Actv's 0 25,000 21,100
Total Cash Flow fr Operations 3,910,000 3,645,000 3,162,000
Investing Activities:
Capital Expenditures -2,101,000 -2,692,000 -1,976,100
Investments 0 160,000 836,100
Other Cash Flows fr Investing -287,000 -290,000 -396,200
Total Cash Flows fr Investing -2,388,000 -2,822,000 -1,536,200
Financing Acitivies:
Dividends Paid 0 0 0
Sale or Purchase of Stock -2,909,000 -1,907,000 -2,720,000
Net Borrowings 2,301,000 -339,000 -109,600
Other Cash Flows fr Financing 8,000 7,000 1,500
Total Cash Flows fr Financing -600,000 -2,239,000 -2,828,100
Effect of Exchange Rate Change 0 0 0
Change in Cash & Cash Equiv.s 922,000 0 1,416,000
Quarterly Cash Flow: All Numbers in Thousands
Period Ending 30-Sep-09 30-Jun-09 31-Mar-09 31-Dec-08
Net Income 366,000 396,000 212,000 332,000
Operating Activites:
Depreciation 653,000 669,000 648,000 616,000
Adjustments to Net Income 245,000 40,000 79,000 28,000
Changes in Accounts Recv'bls -48,000 -23,000 101,000 -42,000
Changes in Liabilities 95,000 -34,000 -88,000 261,000
Changes in Inventories -11,000 -23,000 0 55,000
Changes in Other Oper'g Acts -160,000 -3,000 44,000 -161,000
Total Cash Flow f Operations 1,158,000 1,044,000 996,000 1,089,000
Investing Activities:
Capital Expenditures -515,000 -494,000 -539,000 -529,000
Investments 0 0 0 0
Other Cash Flows fr Investing -17,000 1,000 -3,000 0
Total Cash Flows fr Investing -532,000 -493,000 -542,000 -650,000
Financing Acitivies:
Dividends Paid 0 0 0 0
Sale or Purchase of Stock -943,000 -320,000 -317,000 -1,379,000
Net Borrowings 1,350,000 -60,000 -46,000 -43,000
Other Cash Flows fr Financing 0 -4,000 9,000 0
Total Cash Flows fr Financing 395,000 -384,000 -354,000 -1,422,000
Effect of Exchange Rate Chg 0 0 0 0
Change in Cash & Cash Equiv. 1,021,000 167,000 100,000 -983,000
DTV DIRECTV Group, Inc. [Indices near +3.0 or near zero,
or < zero bear special attention.]
P/E Ratio Tests:
Current P/E Ratio < 28? 1.0659 P/E Ratio > 5? 1.0000
P/E Ratio Vs Growth Rate: 1.4500 Forward P/E Ratio < 28? 1.8289
Sales Tests:
Price/Sales Ratio < 2.3? 1.5232 Inventory/Sales < 5%? 3.0000
Sales < $1 billion? 0.0508 Operating Margin < 7.5%? 0.6494
Balance Sheet Tests:
Debt/Equity < 0.40? 1.0000 Long-Term Debt Service: 0.7744
LTD Being Reduced? 1.8000 Short-Term Debt Service: 3.0000
Current Ratio > 2? 0.6415 Working Capital >= 1.5? 1.5592
Leverage Ratio < 20%? 0.5512 Debt / Assets < 1? 2.6391
Quick Ratio > 1? 1.1242 Inventory Turnover > 1? 0.1161
Shares Out Decreasing? 1.8000 Market Cap.> 1.5 Billion? 0.0463
Profit Margin > 7.5%? 0.8333
Income Tests:
Dividend Yield > 2.0%? 0.0000 EPS Annual Growth > 10%? 0.0000
Enterprise Value/Revenue: 1.1333 EPS 5-yr Growth > 20%? 0.0000
Enterprise Value/EBITDA: 1.0004 EPS Growth Consistent? 1.8000
EPS Qrtly Growth > 10%? 0.0800 Collection < 45 days? 1.6284
Rev. Qtrly Growth > 15%? 1.4550 Gross Pft/Cur. LTD < 1? 3.0000
EPS Annual Growth > 10%? 0.0000 Borrowing Int. Rate< 6%? 1.6735
Stock Performance Tests:
Volatility > 25%? 2.2968 % Held by Insiders < 5%? 0.0872
Beta > 1.25? 0.7040 % Held by Institut. < 50? 0.9311
50 Da MA > 200 Da MA? 0.3830 % Held by Institut. > 30? 1.7900
52-Wk Change vs. S&P 500: 1.6114 Short Ratio > 5? 0.3800
Price/Book Value < 3? -3.0000 Short % of Float > 20? 0.4400
Return on Assets > 17%? 0.5053 Average Volume > 100,000? 3.0000
Cash Flow Tests:
Oper. C.F. > Lever'd C.F: 2.2000 Positive Free Cash Flow? 1.0000
Positive Oper. Cash Flow? 1.0000 Price to C.F./sh. Ratio: 1.1861
Cash Flow / Assets >.10? 1.1063
DTV DIRECTV Group, Inc. Overall Zenith Index: 1.1009
Financial Statements |
Financial Ratios |
. . . . . . . . . . . . 1 = Highest , 10 = Lowest
Market Grader |
Intrinsic Value |
Intrinsic Value by Discounted Cash Flow Method:
No information was available for this stock.
Intrinsic Value by Projected Earnings Growth Method:
Stock Scout |
We find "Scout" to be a bit biased toward the high end, so anything under a 6 is considered a negative, 6 and above, positive.
Projected Earnings |
Research Reports |
Analysts' Opinions |
Insider Activity |
Institutional Activity |
Institutional Orders to Buy or Sell:
Sentiment |
Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.
Short Interest Ratio |
As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.
Stock Report |
Management's Discussion of Results of Operations Excerpts |
Moving Average Chart |
Right Time Study |
Channeling Potential |
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility. Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.
Results for Direc-TV Group:
Symbol? DTV
Total Months Available: 69
Months in Cycle? 4
Months Covered by Periods: 12
Period 1 Period 2 Period 3
H1 L1 H2 L2 H3 L3
26.00 18.81 26.50 21.13 33.69 24.20
RANGE = 33.69 TO 18.81 Close = 33.04
CHANNEL = 26.00 TO 24.20 Degree = 1
Volatility = 5.45% Index = 0
Intraday Chart |
20 Days:
Stock Fetcher |
Point & Figure Chart |
Wall Street Analyzer |
Marketspace Chart |
Time Series Forecast |
Neural Network Prediction |
"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."
Ultimate Trading Systems |
The corresponding trades for the above chart are shown in tabular form below.
Recommendation |
| Factors | Weighted Points |
|---|---|
| News | + 1 |
| Comparison | - 1 |
| Industry | + 1 |
| Bond Issue | + 1 |
| Zenith Index | - 1 |
| GAAP vs. non-GAAP Earnings < 1% | - 1 |
| Cash Flow | + 1 |
| Ratios | - 1 |
| Market Grader | + 1 |
| Intrinsic Value DCF | 0 |
| Intrinsic Value DDM | - 1 |
| Stock Scout | 0 |
| Projected Earnings | + 1 |
| Research Reports | - 1 |
| Analysts | + 1 |
| Executive Perquisites | + 1 |
| Insider Activity | - 1 |
| Institutional Activity | - 1 |
| Management Reporting | + 1 |
| Short Interest | + 1 |
| Sentiment | + 1 |
| Standard & Poor's | - 1 |
| Moving Average | - 1 |
| Right Time Study | + 1 |
| Stock Fetcher | - 1 |
| Point & Figure | + 1 |
| Wall Street Analyzer | + 1 |
| Marketspace Chart | + 1 |
| Time Series Chart | + 1 |
| Neural Network | + 1 |
| Stock Options | + 1 |
| Ultimate Trading Systems | - 1 |
| Total | + 6 |
Place 890 shares of Direc-TV Group (DTV) on the Active List.
