Iridium Communications is trading 4.1% down today at $45.70, giving back a portion of its recent post-earnings and M&A-driven rally.
- The company suspended its financial guidance and quarterly conference calls following the announcement of a planned $8 billion merger with Rocket Lab.
- While total revenue and equipment sales exceeded analyst forecasts in the Q2 report, the stock is under pressure due to an EPS miss and underwhelming service revenue growth.