Why Intelsat Stock Jumped 11% Today
One month ago, nearly to the day, analysts at Jefferies & Co. made the bold prediction that shares of satellite-communications company Intelsat (NYSE: I), then trading for about $4 a share, would hit $5 within a year. After jumping 11% in a matter of hours Tuesday, Intelsat stock has already met that goal -- and beaten it.
What sent Intelsat stock soaring today? It's hard to be 100% certain, but here's an educated guess.
Intelsat management presented at Deutsche Bank's 25th Annual Leveraged Finance Conference in Scottsdale, Ariz., on Tuesday. That same day, FierceWireless reported (possibly reporting directly from the conference, though the article didn't say so specifically ) that Intelsat and Intel (NASDAQ: INTC) are teaming up to petition the Federal Communications Commission "to allow co-primary terrestrial mobile operations in the 3700-4200 MHz band through commercial agreements between terrestrial mobile players and primarily affected fixed-satellite service operators."
Source: Fool.com
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