Stocks News Recap: Globalstar, Inc. (NYSEMKT:GSAT), Hologic, Inc. (NASDAQ:HOLX)

On Monday, Shares of Globalstar, Inc. (NYSEMKT:GSAT), subtract -0.42% and closed at $0.860 in the last trading session. The last trading range of the stock ranges between $0.83 and $0.89. 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.”

Hologic, Inc. (NASDAQ:HOLX), dropped -0.79% and closed at $36.45 in the last trading session. The last trading range of the stock ranges between $36.27 and $36.91. The company’s Market capitalization is $9.88 Billion with the total Outstanding Shares of 277.07 million. Hologic, Inc. (HOLX) declared recently that holders of the 2.00% Convertible Exchange Senior Notes due 2037 (CUSIP No. 436440 AB7) issued November 23, 2010 have the right to surrender their notes for repurchase by the Company.  This right is following the put option under the base indenture governing the notes dated December 10, 2007, as supplemented by the second supplemental indenture dated November 23, 2010 (collectively, the indenture).

The put option entitles each holder of the notes to require the Company to repurchase in cash all or part (in principal amounts equal to $1,000 or multiples thereof) of the notes on December 15, 2016 (the put option repurchase date) at a price equal to 100% of the original principal amount of the notes, plus accrued and unpaid interest, if any, upon the terms and subject to the conditions set forth in the indenture and the notes. Unless the Company defaults on the payment, interest on notes surrendered for repurchase will cease to accrue on and after December 15, 2016. As of November 9, 2016, there was $8,436,000 aggregate principal amount of the Notes outstanding.

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