FITZPATRICK THOMAS sold $11.2M of IRDM

SpaceX acquired T-Mobile's 800 MHz licenses for $3.6B, pending regulatory approval. SpaceX reported Q3 revenue of $14.6B, up 161%. T-Mobile, Verizon, and AT&T also reported earnings, with T-Mobile raising guidance. Shares fell sharply on October 9.

Iridium Communications (IRDM) reported Q3 2026 earnings, beating estimates with $0.98 EPS on $245.7M revenue, driven by its Aireon acquisition. Rocket Lab (RKLB), which is acquiring Iridium, saw its stock rise 4.5% post-earnings. Analysts expect Iridium to contribute significantly to Rocket Lab's profitability in 2027.

Iridium Communications reported Q3 2026 revenue of $245.7M, up 8% YoY, with service revenue growing 13% due to Aireon acquisition. Total billable subscribers increased 6% YoY to 2.7M, driven by commercial IoT. Commercial service revenue was $159.9M, up 16% YoY, while government service revenue grew 2% to $27.6M.

Rocket Lab (RKLB) shares rose 3.9% in pre-market trading on Wednesday, ahead of its Q3 2026 earnings report on November 9. The company also updated investors on its NASA spacecraft mission and its proposed $8B acquisition of Iridium (IRDM), which received 99.6% shareholder approval. Rocket Lab's stock had previously fallen over 20% after delaying its Neutron rocket launch to 2027.

Rocket Lab (RKLB) stock rose 3.9% in pre-market trading after announcing Q3 2026 earnings release on November 9. Analysts noted upside potential from current levels. The company's NASA spacecraft rehearsed a Mars maneuver, and Iridium Communications, its acquisition target, reported strong Q3 2026 results, with 99.6% approval for the deal. The broader market also gained, with the Nasdaq up 0.7% and the S&P 500 up 0.3%.

Iridium Communications reported Q3 revenue growth of 8% YoY, driven by service expansion after acquiring Aireon. Net income benefited from a $103.9M acquisition gain, while OEBITDA remained nearly unchanged. The company also secured stockholder approval for the Rocket Lab acquisition.