Echostar Corp is a global provider of satellite communication solutions, specializing in the development and operation of satellite systems and data networks that enable the distribution of video, broadband internet, and a range of other telecommunications services. The company designs and manufactures satellite-related technologies, including communication satellites and ground equipment, and offers comprehensive service solutions to both consumer and commercial markets. In addition to its satellite offerings, Echostar also engages in the provision of managed network services, supporting a variety of applications and industries that require reliable and high-capacity communication infrastructure. With a focus on innovation and connectivity, Echostar plays a significant role in advancing satellite technology and expanding access to critical communication services. Read More
Gigs announced a strategic alliance with AT&T, allowing tech companies to offer mobile connectivity in their apps. Fintech Klarna is the first to launch on AT&T's network.
A number of stocks fell in the afternoon session after markets pulled back, reversing early gains, as investor sentiment remained cautious despite a softer-than-expected inflation reading.
Tech stocks bounced back Monday, lifted by easing bond yields and major deals like EchoStar’s ($SATS | +18.0%) $17 billion spectrum sale to SpaceX. Meanwhile, investors remain on edge ahead of this week’s pivotal inflation data, which could shift the Fed’s next move.
AST SpaceMobile shares were down more than 9% in Monday’s midday trade after SpaceX agreed to acquire spectrum from EchoStar in a deal valued at $17 billion.
The US market is yet to commence its session on Monday, but let's get a preview of the pre-market session and explore the top gainers and losers driving the early market movements.
EchoStar is selling AWS-4 and H-block spectrum to SpaceX for $17 billion, funding debt payments and expanding 5G services with Starlink Direct to Cell.
