GSAT News & Events

Apple (AAPL) has endorsed the $11.6B acquisition of Globalstar (GSAT) by Amazon (AMZN), noting that it has a "proven track record" with Amazon infrastructure, Bloomberg's Mark Gurman reports. Apple will get a partner in satellite communications, helping the company expand its offerings in the market, and Amazon's Leo satellite system will support Apple's emergency messaging service, Gurman says, noting that the deal will give Apple access to an expanding constellation, helping its in-house services better compete. "We look forward to building on that collaboration with Amazon Leo," Apple marketing chief Greg Joswiak said in a statement. Apple holds a roughly 20% stake in Globalstar.

Following Amazon's (AMZN) announcement of a deal to acquire Globalstar (GSAT), Rosenblatt sees Amazon "leaning in meaningfully to compete aggressively with Starlink, which is the core profit generator of Elon Musk's SpaceX." If the market confers at some point a SpaceX style multiple to Amazon's nascent space business that "could be helpful," but otherwise Amazon is so big that this "doesn't move the financial needle, at least for the next few years," the analyst added. The firm keeps a Buy rating on Amazon shares.

The major averages closed broadly higher as investors shift from escalation fears to tentative optimism around renewed U.S.-Iran diplomacy. Crude slipped back below the $100 level as signals emerge that both sides are considering another round of negotiations, easing immediate supply fears tied to the Strait of Hormuz. The New York Times has reported that Pakistan is seeking to organize a second round of U.S.-Iran talks this week.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:AmazonGlobalstarfor $90 per share in cash or sharesWells Fargoreported, while big bank rivals Citiand JPMorganboth reported upbeat quarterly earnings and revenueJohnson & Johnsonprovided areport for Q1 and raised its quarterly dividend 3.1%CarMaxreported, noting it plans to open four new stores in FY27Microsoftintends tofor its datacenter in Cheyenne, Wyoming in partnership with Black Hills2. WALL STREET CALLS:Teslato Neutral from Sell at UBSDeutsche BankGeneral Motorsto Buy following pullbackFordto Buy from Neutral at UBSGFL Environmentalto Underweight at JPMorganCraig-HallumFastlyto Hold3. AROUND THE WEB:United AirlinesCEO Scott Kirby has floated the idea of a possible tie-up with American Airlines, Bloomberg reportsDelta Airlineshas removed a pair of key environmental sustainability targets from its web page, deleting its pledge to use sustainable aviation fuel for 10% of its jet fuel by 2030 and rephrased its quest to achieve net-zero emissions by 2050 as an "aspiration," not a goal, Bloomberg reportsAnthropic hired Ballard Partners, a lobbying firm with strong ties to the Trump administration days after the DOD designated the startup a supply chain risk, Bloomberg saysNetflix'shostility to cinematic releases has long since damaged its relationships with theater owners, but co-CEO Ted Sarandos is trying to recover them, NY Times saysU.S. President Donald Trump is pitching the idea of a U.S. naval blockade of the Strait of Hormuz as an opportunity for American oil-and-gas exporters, but the squeeze on supplies will likely poorly impact gas prices at the pump, WSJ says4. MOVERS:Avanoswas higher after announcing itby American Industrial Partners for $25.00 per shareTravere Therapeuticsincreased after announcingBloom Energygained afterwith OracleLucidwas lower after, providing guidance for Q1, and announcing $300M stock offeringAdobe, Figma, and GoDaddyall fell after The Informationthat Anthropic is working on an AI design tool5. EARNINGS/GUIDANCE:Rent The Runwayand provided guidance for Q1 and FY26Albertsons, with EPS beating consensusUnity Bancorp, with CEO James Hughes commenting, "We are pleased to report another strong quarter for Unity Bancorp, highlighted by solid profitability"BlackRock, with EPS and revenue beating consensusBlaizeprovidedand backed its guidance for FY26INDEXES:The Dow rose 317.74, or 0.66%, to 48,535.99, the Nasdaq gained 455.35, or 1.96%, to 23,639.08, and the S&P 500 advanced 81.14, or 1.18%, to 6,967.38.