Friday, June 7, 5:54 PM
The FCC is investigating allegations Intelsat (I -1.6%) and other satellite service providers are intentionally limiting their network capacity (by failing to upgrade/replace satellites) to prevent rivals from having enough capacity to lease, and inflating prices for the capacity that is available. Harris' (HRS) CapRock Communications unit is among the disgruntled parties.
Monday, May 13, 1:50 PM
Recent IPO Intelsat (I +6.1%) moves higher today after announcing earlier that it's commenced a solicitation of consents from holders of its 8.5% Senior Notes due 2019. Also, its subsidiary will issue a notice of redemption for its 11.25% Senior Notes due 2017. It intends to redeem the notes on June 12.
Comment![On the Move, Tech]
Thursday, April 18, 11:35 AM
After a lowered price and rough start to trading, Intelsat (I) is turning in a respectable, though unspectacular, IPO day performance. Shares opened at $17 after being priced at $18 (below a prior range of $21-$25), but have since rallied to $18.75, good for a 4.2% gain. That gives the leading satellite service provider, which sold 19.3M shares, a valuation of $1.97B. Intelsat posted 2012 revenue of $2.61B (+1% Y/Y), and a net loss of $149.5M. Free cash flow was -$45M, and total debt stood at $15.9B at year's end. (previous) (F-1)
Comment![Tech, On the Move]
Wednesday, August 29, 2012, 3:31 PM
Facebook wins approval from California to issue stock for its purchase of Instagram. The deal - made up of $300M cash and nearly 23M FB shares - is valued at about $730M now vs. roughly $1B when announced in April. "(I) realize there's upside and downside to all public markets," says Instagram founder Kevin Systrom. "We still firmly believe in the long-term value of Facebook."
3 Comments[M&A, Tech]