Why Intelsat Stock Jumped 20% (More) This Morning
Here we go again, folks. Yesterday, nearly one month to the day after investment banker Jefferies & Co. predicted that satellite telecommunications company Intelsat (NYSE: I) would boldly go to $5 (it was trading at $4 a share at the time), the stock has been there and done that.
Yesterday, Intelsat stock jumped 11% in response to news (out of a conference in Scottsdale, Ariz.) that the company was going to team up with Intel (NASDAQ: INTC) to lobby the Federal Communications Commission to permit "co-primary" operations in the radio frequency bands 3700 and 4200 MHz. Today, Intelsat stock is up another 12.3% (as of 1 p.m. EDT), and was up as much as 20% at one point.
Intelsat stock is lighting up the stock markets again today. Image source: Getty Images.
Source: Fool.com
Intel Corp. Stock
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