9 stories mentioning GSAT
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Globalstar (GSAT) said Tuesday its HIBLEO-4 replenishment satellites will launch on a SpaceX Falcon 9 rocket on Sunday from Cape Canaveral Space Force Station in Florida.The satellites, which are designed to help replenish Globalstar's existing low Earth orbit constellation, will launch during a 14-minute window that opens at 8:50 am ET, the company said.Price: $82.10, Change: $-0.15, Percent Change: -0.18%
The Nasdaq Composite extended its winning streak to a tenth consecutive session on Tuesday as oil prices tumbled amid optimism that the US and Iran could revive peace talks.The Nasdaq climbed 2% to 23,639.1. The S&P 500 rose 1.2% to 6,967.4, while the Dow Jones Industrial Average added 0.7% to 48,536.Most sectors were in the green, led by communication services' 3.2% jump, while energy saw the steepest decline.West Texas Intermediate crude oil was last down 7% at $92.12 per barrel, while Brent lost 4.2% to $95.24.The US and Iran could resume talks later this week, possibly in Pakistan, news outlets reported, citing US President Donald Trump.Trump continues to be open to resuming in-person negotiations soon if he believes Iran is ready to submit to his demands, CNN reported, citing people familiar with the matter.Over the weekend, US-Iran peace negotiations in Pakistan ended without a deal. Following that setback, the US navy started a blockade of Iranian ports in the crucial Strait of Hormuz. A two-week ceasefire between the US and Iran, however, still holds.The International Energy Agency on Tuesday forecast global oil demand to turn negative this year due to the Middle East conflict, penciling in the sharpest consumption decline in the second quarter since the COVID-19 pandemic.The International Monetary Fund lowered its global economic growth expectations for 2026 due to the Middle East conflict, cautioning that a prolonged war could drive a further slowdown.US Treasury yields were lower, with the 10-year rate last down four basis points at 4.25% and the two-year rate dropping three basis points to 3.75%.In company news, Amazon.com (AMZN) agreed to buy mobile satellite services operator Globalstar (GSAT) as the e-commerce giant aims to add direct-to-device services to its Leo satellite network. Amazon shares jumped 3.8%, the top gainer on the Dow, while Globalstar jumped 9.6%.Johnson & Johnson (JNJ) lifted its full-year outlook as the healthcare products conglomerate's first-quarter results surpassed Wall Street's expectations. The company's shares rose 0.9%.JPMorgan Chase (JPM) and Citigroup's (C) first-quarter results topped the Street's expectations, while Wells Fargo's (WFC) revenue missed market views.Wells Fargo shares tumbled 5.7%, among the steepest declines on the S&P 500. JPMorgan shares fell 0.8%, while Citigroup rose 2.7%."The earnings season arrives against a backdrop where market attention has drifted away from fundamentals like earnings growth and towards geopolitical risks," Wells Fargo Investment Institute said in a report e-mailed to. "Recent volatility reflects a repricing driven by risk sentiment and geopolitics, not a deterioration in fundamentals."In economic news, US producer prices growth steadied in March as wholesale costs of energy surged amid volatility stemming from the Iran war."A sizable increase in the PPI underscores the material effects of higher energy prices and the broader inflationary impact of a global price shock on the domestic economy," Stifel said in a note. "Such pressures are furthermore likely to intensify in the coming months as upstream costs work their way down the production pipeline."Gold was last up 2.1% at $4,869.10 per troy ounce, while silver advanced 5.3% to $79.68 per ounce.
Tech stocks rose late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) advancing 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 2.2%.The Philadelphia Semiconductor index added 2%.In corporate news, IonQ (IONQ) shares surged 19% after the company said it has been awarded a contract in the Defense Advanced Research Projects Agency's Heterogeneous Architectures for Quantum program.Microsoft (MSFT) will rent data center capacity from Nscale at a campus in Narvik, Norway, first intended for OpenAI, Bloomberg reported. Microsoft will rent 30,000 additional Nvidia (NVDA) Vera Rubin chips at the site, building on a prior $6.2 billion commitment, after OpenAI failed to reach an agreement with Nscale to run its workloads at the campus under its Stargate initiative, the report said. Microsoft shares were up 2.1%.Amazon (AMZN) agreed to buy mobile satellite services operator Globalstar (GSAT) as it aims to add direct-to-device services to its Leo satellite network. Amazon shares rose 3.9%, and Globalstar jumped 9%.Nvidia (NVDA) shares rose 3.6% after the company said Tuesday it is launching a family of quantum AI models, Ising, designed to allow companies to build quantum processors that will be able to run useful applications.
US benchmark equity indexes rose intraday, while oil prices fell amid optimism that Washington and Iran could revive peace talks.The Nasdaq Composite was up 1.8% at 23,610.3 after midday Tuesday, while the S&P 500 rose 1.1% to 6,962.8. The Dow Jones Industrial Average added 0.6% to 48,572.3. Among sectors, communication services paced the gainers with a 3.1% jump, while energy saw the steepest decline.West Texas Intermediate crude oil tumbled 7.2% to $91.71 per barrel, while Brent lost 4.4% to $95.03.The US and Iran could resume talks later this week, possibly in Pakistan, news outlets reported, citing US President Donald Trump.Trump continues to be open to resuming in-person negotiations soon if he believes Iran is ready to submit to his demands, CNN reported, citing people familiar with the matter.Over the weekend, US-Iran peace negotiations in Pakistan ended without a deal. Following that setback, the US navy started a blockade of Iranian ports in the crucial Strait of Hormuz. A two-week ceasefire between the US and Iran, however, still holds.The International Energy Agency on Tuesday forecast global oil demand to turn negative this year due to the Middle East conflict, penciling in the sharpest consumption decline in the second quarter since the COVID-19 pandemic.US Treasury yields were lower intraday, with the 10-year rate down 4.3 basis points at 4.25% and the two-year rate dropping three basis points to 3.75%.In company news, Amazon.com (AMZN) agreed to buy mobile satellite services operator Globalstar (GSAT) as the e-commerce giant aims to add direct-to-device services to its Leo satellite network. Amazon shares were up 5.1% intraday, the top gainer on the Dow, while Globalstar jumped 10%.Johnson & Johnson (JNJ) lifted its full-year outlook as the healthcare products conglomerate's first-quarter results surpassed Wall Street's expectations. The company's shares were up 1.4%, among the best performers on the Dow.JPMorgan Chase (JPM) and Citigroup's (C) first-quarter results topped the Street's expectations, while Wells Fargo's (WFC) revenue missed market views.Wells Fargo shares were down 4.6% intraday, among the steepest declines on the S&P 500. JPMorgan shares were down 0.7%, while Citigroup rose 3.4%.In economic news, US producer prices growth steadied in March as wholesale costs of energy surged amid volatility stemming from the Iran war."A sizable increase in the PPI underscores the material effects of higher energy prices and the broader inflationary impact of a global price shock on the domestic economy," Stifel said in a note. "Such pressures are furthermore likely to intensify in the coming months as upstream costs work their way down the production pipeline."Gold was up 2% at $4,863.10 per troy ounce, while silver advanced 5% to $79.42 per ounce.
Tech stocks rose Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) advancing 1% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 1.2%.The Philadelphia Semiconductor index added 1%.In corporate news, Amazon (AMZN) agreed to buy mobile satellite services operator Globalstar (GSAT) as it aims to add direct-to-device services to its Leo satellite network. Amazon shares rose 4.2%, and Globalstar jumped nearly 10%.Nvidia (NVDA) shares rose 2.9% after the company said Tuesday it is launching a family of quantum AI models, Ising, designed to allow companies to build quantum processors that will be able to run useful applications.Bloom Energy (BE) said it will provide up to 2.8 gigawatts of its fuel cell systems to Oracle (ORCL) under an expanded partnership to support the software giant's AI infrastructure buildout. Oracle shares gained 5.7%.High Roller Technologies (ROLR) shares surged 60% after it said Tuesday it has signed an agreement with Crypto.com Derivatives North America to launch an event-based prediction markets offering, initially in the US.
Tech stocks were higher Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 1.2%.The Philadelphia Semiconductor index added 1%.In corporate news, Amazon (AMZN) agreed to buy mobile satellite services operator Globalstar (GSAT) as it aims to add direct-to-device services to its Leo satellite network. Amazon shares rose 4.2%, and Globalstar jumped 10%.
All three major US stock indexes were up in late-morning trading Tuesday, as many of the big banks revealed their earnings results.In company news, Wells Fargo (WFC) reported Q1 earnings Tuesday of $1.60 per diluted share, up from $1.39 a year earlier and above the FactSet consensus of $1.58. First-quarter revenue was $21.45 billion, up from $20.15 billion a year ago but below the FactSet consensus of $21.79 billion. Wells Fargo shares were down 5.2% around midday.Amazon (AMZN) said Tuesday it has agreed to acquire Globalstar (GSAT) in a deal valuing the company at $90 per share. The acquisition, which is expected to close in 2027, will strengthen Amazon's low-Earth orbit network, Amazon Leo, enabling direct-to-device services that will expand cellular coverage, the company said. Amazon shares were up 3.3%, while Globalstar shares were up 10.5%.JPMorgan Chase (JPM) reported Q1 earnings Tuesday of $5.94 per diluted share, up from $5.07 a year earlier and above the FactSet consensus analyst estimate of $5.45. First-quarter net revenue was $49.84 billion, up from $45.31 billion a year ago and above the FactSet consensus of $49.13 billion. JPMorgan shares were down 0.5%.Citigroup (C) reported Q1 net income Tuesday of $3.06 per diluted share, up from $1.96 a year earlier and above the FactSet consensus of $2.63. First-quarter revenue was $24.63 billion, up from $21.60 billion a year ago and above the FactSet consensus of $23.53 billion. Citigroup shares were up 2.5%.Lucid (LCID) said Tuesday it will receive new investments from an affiliate of Saudi Arabia's Public Investment Fund and Uber Technologies (UBER). Shares of Lucid were down 4.4%, while Uber shares were up 0.3%.Price: $312.52, Change: $-1.16, Percent Change: -0.37%
Amazon.com (AMZN) agreed to buy mobile satellite services operator Globalstar (GSAT) as the e-commerce giant aims to add direct-to-device services to its Leo satellite network, the companies said Tuesday.Globalstar's investors may opt to receive $90 in cash for every share owned, or 0.3210 shares of Amazon with a $90 valuation cap. Total cash elections can't exceed 40% of Globalstar's shares. The total consideration may be adjusted downward by up to $110 million if Globalstar fails to meet certain operational milestones, according to the joint statement.Globalstar had a market capitalization of $9.37 billion as of Monday, according to FactSet data. Its shares were up 9% intraday, while Amazon's rose 2.8%."By combining Globalstar's proven expertise and strong foundation with Amazon's customer-obsession and innovation, customers can expect faster, more reliable service in more places," Panos Panay, senior vice president of devices and services at Amazon, said.Upon completion, Amazon Leo will be able to provide D2D services via its low Earth orbit satellite network and extend cellular coverage beyond the reach of terrestrial networks, the companies said. The plan is to deploy Amazon Leo's own D2D satellite system beginning in 2028."(Amazon) is effectively solving its (Federal Communications Commission) deadline problem by acquiring a functioning satellite operator while also leapfrogging into D2D connectivity, a market SpaceX's Starlink has been targeting," Wedbush Securities analyst Michael Piccolo said in a note e-mailed to.SpaceX is a private company owned by Elon Musk, CEO of Tesla (TSLA).The transaction, which requires regulatory approvals, is anticipated to complete in 2027."The combination with Amazon Leo will advance innovations in digital connectivity that will benefit our customers and advance us toward a more intelligent, continuously connected world," Globalstar Chief Executive Paul Jacobs said.Amazon said that it agreed to provide satellite connectivity for Apple's (AAPL) current and future iPhone and its smartwatch features. Currently, Globalstar provides satellite service that powers iPhone 14 or newer models, as well as Apple Watch Ultra 3."Apple and Amazon have a long and proven track record of working together through Amazon's core infrastructure services, and we look forward to building on that collaboration with Amazon Leo," Greg Joswiak, senior vice president of worldwide product marketing at Apple, said.Price: $246.78, Change: $+6.89, Percent Change: +2.87%
(Updates with the most recent stock move in the headline and last paragraph)Amazon.com (AMZN) is in advanced discussions to acquire satellite operator Globalstar (GSAT), Bloomberg reported Tuesday, citing unnamed people familiar with the matter.The sources told the news outlet that a deal could be announced as soon as Tuesday, though negotiations are ongoing and may still fall through.The potential acquisition would support Amazon's push to build out its low-Earth orbit satellite network, known as Amazon Leo, which is being developed to deliver broadband internet to underserved areas, according to Bloomberg.Amazon and Globalstar did not immediately respond to' request for comment.Globalstar shares rose over 15% in premarket activity Tuesday.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $84.00, Change: $+11.11, Percent Change: +15.24%