Dj Cfo Clary Acquires 5144 Of Globalstar Inc >Gsat

What Happened?

A number of stocks jumped in the afternoon session after renewed enthusiasm for Alphabet reinvigorated the artificial intelligence trade, propelling a market rebound heading into the Thanksgiving holiday. The Nasdaq index jumped 2.6% and the S&P 500 gained 1.6%, driven by a 5% rally in Alphabet following the announcement of its upgraded Gemini 3 AI model. This optimism spilled over into the broader tech sector, lifting shares of Broadcom, Micron, and Palantir significantly. The rally built on momentum from the previous trading session, sparked by the New York Fed president keeping the door open for a December interest rate cut.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Electronic Components & Manufacturing company Amphenol jumped 4.7%. Is now the time to buy Amphenol? Access our full analysis report here, it’s free for active Edge members.
• Digital Media & Content Platforms company Rumble jumped 12.7%. Is now the time to buy Rumble? Access our full analysis report here, it’s free for active Edge members.
• Electronic Components & Manufacturing company Coherent jumped 8.7%. Is now the time to buy Coherent? Access our full analysis report here, it’s free for active Edge members.
• Electronic Components & Manufacturing company TTM Technologies jumped 9.2%. Is now the time to buy TTM Technologies? Access our full analysis report here, it’s free for active Edge members.
• Satellite Telecommunication Services company Globalstar jumped 6.6%. Is now the time to buy Globalstar? Access our full analysis report here, it’s free for active Edge members.

Zooming In On Rumble (RUM)

Rumble’s shares are extremely volatile and have had 53 moves greater than 5% over the last year. But moves this big are rare even for Rumble and indicate this news significantly impacted the market’s perception of the business.

The previous big move we wrote about was 3 days ago when the stock gained 6.8% on the news that comments from a key Federal Reserve official hinted at a potential interest rate cut in December. 

John Williams, president of the Federal Reserve Bank of New York, signaled he was open to lowering the fed funds rate—the key interest rate that banks charge each other for overnight loans—to support the job market. Speaking at an event, Williams stated that he sees “room for a further adjustment” for interest rates, which immediately shifted market expectations. Following his remarks, the perceived likelihood of an interest rate cut at the Federal Reserve's December meeting flipped from unlikely to more likely than not. The prospect of lower borrowing costs sent a wave of optimism through the markets, leading to a rally in major indices like the S&P 500, Dow Jones Industrial Average, and the Nasdaq Composite.

Rumble is down 47.5% since the beginning of the year, and at $6.51 per share, it is trading 60% below its 52-week high of $16.27 from December 2024.

Looking back on telecommunication services stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including Iridium and its peers.

The sector is a tale of two cities. Satellite telecommunication is generally buoyed by rising global demand for connectivity in costly-to-connect and remote areas. On the other hand, terrestrial telecommunication companies face an uphill battle, as they mostly sell into a deflationary market, where the price of moving a bit tends to decrease over time with better technology. Despite the differences in demand drivers, companies across the entire industry must contend competition from larger telecom conglomerates and hyperscalers expanding their own networks as well as newer entrants such as SpaceX's StarLink.

The 5 telecommunication services stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 4.7%.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 17.2% since the latest earnings results.

Best Q3: Iridium

With a constellation of 66 low-earth orbit satellites providing coverage to every inch of the planet, Iridium Communications operates a global satellite network that provides voice and data services to customers in remote areas where traditional telecommunications are unavailable.

Iridium reported revenues of $226.9 million, up 6.7% year on year. This print exceeded analysts’ expectations by 1.7%. Overall, it was an exceptional quarter for the company with a beat of analysts’ EPS estimates and a decent beat of analysts’ revenue estimates.

"We continue to execute with discipline, focusing efforts on growth markets where our unique network delivers a competitive advantage, specifically in government, regulated industries, and critical infrastructure," said Matt Desch, CEO of Iridium.

Unsurprisingly, the stock is down 18.1% since reporting and currently trades at $16.11.

Is now the time to buy Iridium? Access our full analysis of the earnings results here, it’s free for active Edge members.

Lumen

With approximately 350,000 route miles of fiber optic cable spanning North America and the Asia Pacific, Lumen Technologies operates a vast fiber optic network that provides communications, cloud connectivity, security, and IT solutions to businesses and consumers.

Lumen reported revenues of $3.09 billion, down 4.2% year on year, outperforming analysts’ expectations by 0.9%. The business had an exceptional quarter with a beat of analysts’ EPS estimates and a narrow beat of analysts’ revenue estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 26.9% since reporting. It currently trades at $7.65.

Is now the time to buy Lumen? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q3: Array

Operating as a majority-owned subsidiary of Telephone and Data Systems since its founding in 1983, Array (NYSE:Array) is a regional wireless telecommunications provider serving 4.6 million customers across 21 states with mobile phone, internet, and IoT services.

Array reported revenues of $47.12 million, up 83.1% year on year, exceeding analysts’ expectations by 15.7%. Still, it was a slower quarter as it posted a significant miss of analysts’ EPS estimates.

As expected, the stock is down 3.7% since the results and currently trades at $45.91.

Read our full analysis of Array’s results here.

Cogent

Operating a massive network spanning 20,000 miles of fiber optic cable and connecting to over 3,200 buildings worldwide, Cogent Communications provides high-speed Internet access, private network services, and data center colocation to businesses and bandwidth-intensive organizations across 54 countries.

Cogent reported revenues of $241.9 million, down 5.9% year on year. This result came in 1.7% below analysts' expectations. Taking a step back, it was still a strong quarter as it logged a beat of analysts’ EPS estimates.

Cogent had the weakest performance against analyst estimates and slowest revenue growth among its peers. The stock is down 55.2% since reporting and currently trades at $17.16.

Read our full, actionable report on Cogent here, it’s free for active Edge members.

Globalstar

Known for powering the emergency SOS feature in newer Apple iPhones, Globalstar operates a network of low-earth orbit satellites that provide voice and data communications services in remote areas where traditional cellular networks don't reach.

Globalstar reported revenues of $73.85 million, up 2.1% year on year. This print beat analysts’ expectations by 7.1%. It was a very strong quarter as it also produced an impressive beat of analysts’ revenue estimates and full-year revenue guidance beating analysts’ expectations.

The stock is up 17.9% since reporting and currently trades at $56.89.

Read our full, actionable report on Globalstar here, it’s free for active Edge members.

Let’s dig into the relative performance of Iridium and its peers as we unravel the now-completed Q3 telecommunication services earnings season.

The sector is a tale of two cities. Satellite telecommunication is generally buoyed by rising global demand for connectivity in costly-to-connect and remote areas. On the other hand, terrestrial telecommunication companies face an uphill battle, as they mostly sell into a deflationary market, where the price of moving a bit tends to decrease over time with better technology. Despite the differences in demand drivers, companies across the entire industry must contend competition from larger telecom conglomerates and hyperscalers expanding their own networks as well as newer entrants such as SpaceX's StarLink.

The 5 telecommunication services stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 4.7%.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 18.4% since the latest earnings results.

Best Q3: Iridium

With a constellation of 66 low-earth orbit satellites providing coverage to every inch of the planet, Iridium Communications operates a global satellite network that provides voice and data services to customers in remote areas where traditional telecommunications are unavailable.

Iridium reported revenues of $226.9 million, up 6.7% year on year. This print exceeded analysts’ expectations by 1.7%. Overall, it was an exceptional quarter for the company with a beat of analysts’ EPS estimates and a decent beat of analysts’ revenue estimates.

"We continue to execute with discipline, focusing efforts on growth markets where our unique network delivers a competitive advantage, specifically in government, regulated industries, and critical infrastructure," said Matt Desch, CEO of Iridium.

Unsurprisingly, the stock is down 19.2% since reporting and currently trades at $15.90.

Is now the time to buy Iridium? Access our full analysis of the earnings results here, it’s free for active Edge members.

Globalstar

Known for powering the emergency SOS feature in newer Apple iPhones, Globalstar operates a network of low-earth orbit satellites that provide voice and data communications services in remote areas where traditional cellular networks don't reach.

Globalstar reported revenues of $73.85 million, up 2.1% year on year, outperforming analysts’ expectations by 7.1%. The business had a very strong quarter with an impressive beat of analysts’ revenue estimates and full-year revenue guidance beating analysts’ expectations.

The market seems happy with the results as the stock is up 17.4% since reporting. It currently trades at $56.65.

Is now the time to buy Globalstar? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q3: Array

Operating as a majority-owned subsidiary of Telephone and Data Systems since its founding in 1983, Array (NYSE:Array) is a regional wireless telecommunications provider serving 4.6 million customers across 21 states with mobile phone, internet, and IoT services.

Array reported revenues of $47.12 million, up 83.1% year on year, exceeding analysts’ expectations by 15.7%. Still, it was a slower quarter as it posted a significant miss of analysts’ EPS estimates.

As expected, the stock is down 5.2% since the results and currently trades at $45.20.

Read our full analysis of Array’s results here.

Cogent

Operating a massive network spanning 20,000 miles of fiber optic cable and connecting to over 3,200 buildings worldwide, Cogent Communications provides high-speed Internet access, private network services, and data center colocation to businesses and bandwidth-intensive organizations across 54 countries.

Cogent reported revenues of $241.9 million, down 5.9% year on year. This number missed analysts’ expectations by 1.7%. In spite of that, it was a strong quarter as it put up a beat of analysts’ EPS estimates.

Cogent had the weakest performance against analyst estimates and slowest revenue growth among its peers. The stock is down 56.4% since reporting and currently trades at $16.68.

Read our full, actionable report on Cogent here, it’s free for active Edge members.

Lumen

With approximately 350,000 route miles of fiber optic cable spanning North America and the Asia Pacific, Lumen Technologies operates a vast fiber optic network that provides communications, cloud connectivity, security, and IT solutions to businesses and consumers.

Lumen reported revenues of $3.09 billion, down 4.2% year on year. This print topped analysts’ expectations by 0.9%. Overall, it was an exceptional quarter as it also produced a beat of analysts’ EPS estimates and a narrow beat of analysts’ revenue estimates.

The stock is down 28.7% since reporting and currently trades at $7.47.

Read our full, actionable report on Lumen here, it’s free for active Edge members.

What Happened?

A number of stocks fell in the afternoon session after markets faded the Nvidia rally in the morning session, as investors remained uncertain about future rate cuts. 

While the trading day began with significant enthusiasm, pushing the Dow Jones Industrial Average up more than 700 points and the Nasdaq Composite up 2.6%, momentum quickly evaporated as the session wore on. The primary catalyst for this sharp reversal was a stronger-than-expected jobs report, which reduced the implied odds of a December interest rate cut to less than 40%.This macroeconomic anxiety overshadowed stellar corporate performance. Nvidia initially surged 5% on blockbuster earnings and CEO Jensen Huang's bullish outlook on "off the charts" demand for Blackwell chips. However, the stock eventually turned negative, acting as a heavy weight that dragged the broader indices into the red. The sell-off partly reflects a deepening caution regarding high-flying tech valuations in a "higher-for-longer" rate environment. 

Consequently, investors appeared to rotate capital away from volatile growth sectors and toward defensive staples, evidenced by Walmart's 6% gain following its own earnings beat. Ultimately, the market could not sustain the morning's euphoria, as traders prioritized rate realities over AI potential.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Hardware & Infrastructure company Pure Storage fell 3.7%. Is now the time to buy Pure Storage? Access our full analysis report here, it’s free for active Edge members.
• Electronic Components & Manufacturing company Jabil fell 2.9%. Is now the time to buy Jabil? Access our full analysis report here, it’s free for active Edge members.
• Specialized Technology company Mirion fell 3.7%. Is now the time to buy Mirion? Access our full analysis report here, it’s free for active Edge members.
• Satellite Telecommunication Services company Globalstar fell 3.4%. Is now the time to buy Globalstar? Access our full analysis report here, it’s free for active Edge members.
• Specialized Technology company Cognex fell 3.1%. Is now the time to buy Cognex? Access our full analysis report here, it’s free for active Edge members.

Zooming In On Pure Storage (PSTG)

Pure Storage’s shares are very volatile and have had 24 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 7 days ago when the stock dropped 5.1% on the news that investors continued to question how much more the superstar stocks can add to their already spectacular gains. 

The main story? Investors are cashing in on a good run and feeling a bit cautious.After a fantastic run, many of those high-flying AI and technology stocks saw investors take profits: selling shares to lock in their gains. This is often called a "market rotation." Money is moving out of the red-hot tech sector (which some worry has become too expensive) and into other parts of the market that investors may currently deem more stable or reasonably-priced.There's a secondary reason for the cautious mood: The long government shutdown came to an end. Though it's typically interpreted as good news, it also means a flood of delayed economic reports will be released. For weeks, investors were "flying blind" without key updates on the economy's health, like inflation data and the jobs report. In typical "sell the news" fashion, investors may also be taking profits and selling in anticipation that the new data would potentially give the Federal Reserve reasons to slow or even pause future rate cuts.

Pure Storage is up 26% since the beginning of the year, but at $78.73 per share, it is still trading 20.2% below its 52-week high of $98.70 from October 2025. Investors who bought $1,000 worth of Pure Storage’s shares 5 years ago would now be looking at an investment worth $4,174.