3.4000 +0.08 (2.41%)
After hours: 7:43PM EDT
|Bid||3.2500 x 900|
|Ask||3.3300 x 1800|
|Day's Range||3.1200 - 3.4398|
|52 Week Range||1.3300 - 7.2300|
|Beta (5Y Monthly)||1.25|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Nearly everyone who's visited a U.S. airport has come across the services of Gogo (NASDAQ: GOGO). The company's specialty is in-flight, high speed internet services. Gogo said that late last week, its services were available on over 3,000 daily flights.
The in-flight broadband service provider will now have to share Delta as a client with its rivals. Management kept a stiff upper lip, but investors were not happy.
(Bloomberg) -- Delta Air Lines Inc. and Wi-Fi supplier Gogo Inc. agreed to shorten their contract on some aircraft by as much as seven years, opening the door for the carrier to consider other providers as it works toward offering free on-board connectivity. Gogo shares fell the most in two months.The agreement, disclosed by Gogo in a regulatory filing Thursday, covers 13 aircraft types in Delta’s fleet, and accelerates expiration dates to Nov. 1 to June 2, 2022. The original agreement was to run through 2027, Gogo has said. Gogo is Delta’s only in-flight Wi-Fi provider.The agreement may help Delta Chief Executive Officer Ed Bastian achieve his pledge to offer free onboard Wi-Fi by allowing the Atlanta-based carrier to enlist providers that use different technology. The airline has said there’s not sufficient Ku band satellite capacity over North America to meet its “user experience expectations for free Wi-Fi service on its desired timeline,” Gogo’s filling said.“We’ve accelerated our plans to reimagine onboard Wi-Fi,” said Kathryn Steele, a Delta spokeswoman. “As part of this, we need added flexibility to work closely with partners –- including Gogo –- to leverage the right technologies for our fleet and deliver the best experience possible.”Gogo dropped 18% to $2.47 at 2:13 p.m. in New York amid a broad market rout. The stock earlier tumbled to as low as $2.45 for the sharpest decline since April 3. Delta slid 12% to $28.“Though we do not relish the idea of having a competitor join us at Delta, this amendment gives us time to complete our 2Ka offering and add capacity to our 2Ku network, and will enable us to compete effectively for the fleets in question,” Google CEO Oakleigh Thorne said in the filing.Gogo’s current agreement to provide 2Ku online access covers 575 predominantly single-aisle, mainline jets that fly routes in North America. The company also has contracts for about 694 additional Delta aircraft, consisting of twin-aisle jets that fly international routes using Ku satellite capacity and a mix of older mainline aircraft and regional jets flying domestic routes, Gogo said. 2Ku is the company’s satellite-based broadband service.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Gogo (GOGO) delivered earnings and revenue surprises of -16.22% and 3.48%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
With the amicable settlement of the litigation process, AT&T (T) is likely to focus more on the upcoming launch of the HBO Max streaming service this Spring.
AT&T (T) collaborates with Deloitte to foster digital transformation, virtual learning and development opportunities by deploying 5G solutions and MEC in the latter's university campus.
Today we found three 'cheap' tech stocks trading under $10 per share with the help of our Zacks Stock Screener that investors might want to buy heading into 2020...
The radical restructuring process is likely to feature an "operational spin-off", whereby Telefonica (TEF) will create two separate business entities, namely Telefonica Tech and Telefonica Infra.
AT&T (T) provides revamped 5G solutions in collaboration with Microsoft's Azure cloud platform to foster networking capabilities and edge computing solutions for an agile data infrastructure.
The portfolio of advanced communications and solutions is likely to boost the mission-critical ecosystem of Motorola (MSI) and render fast response times to effectively mitigate operating risks.
Omni is likely to enable Sprint (S) to either bundle Omni with other compatible products and services or offer it as a standalone service to medium and small-sized businesses.
CenturyLink (CTL) enhances edge computing services with new Content Delivery Network to create a dynamic and customized web experience for app developers.
Intelsat (I) shares tank 56.6% in the past two days as investors resort to panic selling with the telecom regulatory authority dismissing its plans for private auctioning of C-Band spectrum.