On Wednesday, Shares of Globalstar, Inc. (NYSEMKT:GSAT), subtract -4.13% and closed at $0.790 in the last trading session. The last trading range of the stock ranges between $0.78 and $0.82. Globalstar, Inc. (NYSE MKT:GSAT) recently declared its financial results for the quarter ended September 30, 2016.
Jay Monroe, Chairman and CEO of Globalstar, commented, “Total revenue raised 8% during the third quarter as we continue to grow our subscriber base and improve ARPU. Service revenue, up 12% from the third quarter of 2015, contributed meaningfully to the improvement in our operating margin. Net income reduced from the third quarter of 2015 because of lower non-cash derivative valuation gains, but Adjusted EBITDA improved significantly because of raised service revenue as our costs were down slightly. On the business development front, we were happy to declare the execution of a planned partnership with Carmanah Technologies Corporation, whereby Carmanah will design and manufacture a new solar powered M2M satellite product and use our satellite constellation for remote connectivity of Carmanah products. We are pursuing additional opportunities for this type of innovation and believe Globalstar is well positioned to provide reliable connectivity as IoT and satellite technology converge. Finally, we continue to work on our FCC proceeding every day to seek a favorable outcome. As we have formerly stated, given the current status of our proceeding and in deference to the Commission’s deliberative process, we will not provide additional comment on that subject at this time.”
T-Mobile US Inc (NASDAQ:TMUS), dropped -1.37% and closed at $52.73 in the last trading session. The last trading range of the stock ranges between $52.13 and $52.94. The company’s Market capitalization is $44.05 Billion with the total Outstanding Shares of 824.02 Billion. Deutsche Telekom (DTEGn.DE) is ‘not in the mood’ to sell T-Mobile US (TMUS.O), its chief executive said on Wednesday, although it is watching for any change in the U.S. regulatory environment under Donald Trump’s administration.
Deutsche Telekom, which owns 65 percent of T-Mobile US, has twice tried to sell in the past five years. Both attempts foundered on regulatory objections.
Since then T-Mobile has made a turnaround and is growing every quarter, overtaking Sprint (S.N) as the third-leading wireless operator in the U.S.
That has transformed Deutsche Telekom’s position, CEO Tim Hoettges said.
“We are not in the mood of selling the business. We are not in the mood of: ‘Oh where is the partner we need?'” he told shareholders at the Morgan Stanley annual TMT conference.
T-Mobile US is now almost as big as Deutsche Telekom’s German business, bringing in 2.156 billion euros in adjusted EBITDA, just below the 2.25 billion Germany generated in the third quarter.
Last month T-Mobile US again raised its forecast for customer additions for the year after adding 969,000 postpaid customers in the third quarter ended Sept. 30, up from 890,000 in the second quarter.
Analysts have suggested T-Mobile US is Deutsche Telekom’s only opportunity to grow.
“We are now open to how we could create something beyond our execution, which is creating value,” Hoettges said.
Repeating what he told shareholders last week at Deutsche Telekom’s third-quarter earnings but using stronger language, Hoettges said he was hoping the political landscape would change and make a deal possible.Source Reuter