As Iridium Communications (IRDM) Market Valuation Rose, Shareholder Arrowpoint Asset …

… MSG Networks, Iridium Communications, ACI Worldwide, Central Garden & Pe; 30/03/2018 – SPACEX LAUNCHES FALCON 9 ROCKET WITH 10 …

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Arrowpoint Asset Management Llc decreased its stake in Iridium Communications Inc (IRDM) by 12.01% based on its latest 2018Q3 regulatory filing with the SEC. Arrowpoint Asset Management Llc sold 122,000 shares as the company’s stock rose 5.02% while stock markets declined. The institutional investor held 893,515 shares of the telecommunications equipment company at the end of 2018Q3, valued at $20.10 million, down from 1.02 million at the end of the previous reported quarter. Arrowpoint Asset Management Llc who had been investing in Iridium Communications Inc for a number of months, seems to be less bullish one the $2.19B market cap company. The stock increased 0.72% or $0.14 during the last trading session, reaching $19.71. About 674,045 shares traded. Iridium Communications Inc. (NASDAQ:IRDM) has risen 73.03% since January 21, 2018 and is uptrending. It has outperformed by 73.03% the S&P500. Some Historical IRDM News: 16/03/2018 – lridium Communications Inc. Prices Offering of Senior Unsecured Notes; 26/04/2018 – Iridium Communications Sees 2018 Total Service Rev Growth 10% to 12%; 16/03/2018 – IRIDIUM COMMUNICATIONS INC – PRICED $360 MLN IN AGGREGATE PRINCIPAL AMOUNT OF ITS SENIOR UNSECURED NOTES DUE 2023; 09/03/2018 – S&PGR Rates Iridium Comms ‘B-‘; Otlk Neg; Unscd Nts Rated; 02/05/2018 – Detailed Research: Economic Perspectives on NewMarket, MSG Networks, Iridium Communications, ACI Worldwide, Central Garden & Pe; 30/03/2018 – SPACEX LAUNCHES FALCON 9 ROCKET WITH 10 IRIDIUM SATELLITES; 30/03/2018 – SpaceX is set to launch Friday morning from the central coast of California, in an attempt to send Iridium NEXT satellites into orbit on a previously-flown Falcon 9 rocket; 09/03/2018 Iridium Communications Inc. Announces Proposed Private Offering; 09/03/2018 – Moody’s assigns B2 corporate family rating to lridium; 22/05/2018 – SpaceX Flies Satellites for Iridium, NASA in 10th Launch of 2018

River Road Asset Management Llc decreased its stake in Chevron Corporation (CVX) by 8.26% based on its latest 2018Q3 regulatory filing with the SEC. River Road Asset Management Llc sold 26,289 shares as the company’s stock rose 0.40% while stock markets declined. The institutional investor held 292,081 shares of the integrated oil company at the end of 2018Q3, valued at $35.72 million, down from 318,370 at the end of the previous reported quarter. River Road Asset Management Llc who had been investing in Chevron Corporation for a number of months, seems to be less bullish one the $218.54 billion market cap company. The stock increased 2.15% or $2.41 during the last trading session, reaching $114.37. About 9.38M shares traded or 26.45% up from the average. Chevron Corporation (NYSE:CVX) has declined 3.92% since January 21, 2018 and is downtrending. It has underperformed by 3.92% the S&P500. Some Historical CVX News: 25/04/2018 – Chevron evacuates Venezuela executives following staff arrests; 05/04/2018 – Cal EMA Spills: SPILL Report – Chevron – 04/05/2018 06:05 PM; 07/03/2018 – FOCUS-Exxon CEO struggles to reverse Tillerson’s legacy of failed bets; 19/04/2018 – Oil major Total will not give up on Venezuela, says Total CEO; 05/03/2018 – North Sea Crude-Forties weakens, Chevron restarts Alba; 06/03/2018 – CHEVRON CEO WIRTH SPEAKS IN CNBC INTERVIEW; 13/03/2018 – Port Authority: 52402 13-Mar-2018 Supply and Deliver Chevron Springs as Manufactured by Kawasaki Rail Car, Inc. or Vulcanite fo; 20/04/2018 – Moody’s assigns a definitive Ba3 rating to Star Energy’s senior secured notes; 21/05/2018 – MEDIA-Glencore is said to near $1 bln Chevron Southern Africa deal- Bloomberg; 09/03/2018 – SA’S COMPETITION TRIBUNAL – SINOPEC MERGER WITH CHEVRON SA IS SUBJECT TO CERTAIN CONTRACTUAL PROVISIONS

Since August 20, 2018, it had 0 insider buys, and 21 sales for $9.28 million activity. Shares for $5.90M were sold by DESCH MATTHEW J on Monday, November 19.

More notable recent Iridium Communications Inc. (NASDAQ:IRDM) news were published by: Benzinga.com which released: “Raymond James Bullish On Iridium (NASDAQ:IRDM) As Satellite Maker Shifts From SpaceX To Sales – Benzinga” on January 14, 2019, also Nasdaq.com with their article: “IRDM Crosses Above Average Analyst Target – Nasdaq” published on October 17, 2018, Fool.com published: “Iridium Communications Scores a Key Victory For Its New Network – The Motley Fool” on June 05, 2018. More interesting news about Iridium Communications Inc. (NASDAQ:IRDM) were released by: Nasdaq.com and their article: “IRDM Makes Notable Cross Below Critical Moving Average – Nasdaq” published on December 21, 2018 as well as Nasdaq.com‘s news article titled: “Satellite and Communication Industry Outlook: Prospects Solid – Nasdaq” with publication date: January 08, 2019.

Investors sentiment increased to 1.23 in Q3 2018. Its up 0.07, from 1.16 in 2018Q2. It improved, as 18 investors sold IRDM shares while 52 reduced holdings. 27 funds opened positions while 59 raised stakes. 90.99 million shares or 0.07% more from 90.93 million shares in 2018Q2 were reported. Brown Brothers Harriman &, New York-based fund reported 2,500 shares. Fmr Lc holds 0% in Iridium Communications Inc. (NASDAQ:IRDM) or 1.22M shares. Signaturefd Limited owns 70 shares or 0% of their US portfolio. Private Wealth Ptnrs Lc has 12,000 shares for 0.04% of their portfolio. Pnc Financial Svcs Grp Incorporated reported 12,281 shares. Bnp Paribas Arbitrage stated it has 0% of its portfolio in Iridium Communications Inc. (NASDAQ:IRDM). Manufacturers Life Insur The holds 0% or 62,181 shares in its portfolio. Comerica National Bank owns 93,375 shares. Moreover, Brahman has 0.52% invested in Iridium Communications Inc. (NASDAQ:IRDM) for 459,949 shares. Blackrock has 0.01% invested in Iridium Communications Inc. (NASDAQ:IRDM) for 14.03 million shares. Skylands Ltd Liability reported 74,977 shares or 0.22% of all its holdings. Thompson Davis And Inc owns 0.02% invested in Iridium Communications Inc. (NASDAQ:IRDM) for 300 shares. Mackenzie Finance Corp reported 19,000 shares. Moreover, Retail Bank Of Montreal Can has 0.01% invested in Iridium Communications Inc. (NASDAQ:IRDM). Baldwin Brothers Inc Ma accumulated 0.01% or 1,600 shares.

Among 7 analysts covering Iridium Communications (NASDAQ:IRDM), 4 have Buy rating, 1 Sell and 2 Hold. Therefore 57% are positive. Iridium Communications had 8 analyst reports since August 31, 2017 according to SRatingsIntel. The company was maintained on Friday, October 27 by Wells Fargo. The firm earned “Hold” rating on Friday, October 27 by Northland Capital. The firm has “Neutral” rating given on Monday, August 27 by Sidoti. The firm has “Strong Buy” rating by Raymond James given on Wednesday, October 10. As per Monday, September 10, the company rating was downgraded by Northland Capital.

Analysts await Iridium Communications Inc. (NASDAQ:IRDM) to report earnings on February, 28. They expect $-0.16 earnings per share, down 300.00% or $0.24 from last year’s $0.08 per share. After $-0.13 actual earnings per share reported by Iridium Communications Inc. for the previous quarter, Wall Street now forecasts 23.08% negative EPS growth.

Arrowpoint Asset Management Llc, which manages about $5.56 billion and $11.94 billion US Long portfolio, upped its stake in Msc Indl Direct Inc (NYSE:MSM) by 241,417 shares to 2.05 million shares, valued at $180.32 million in 2018Q3, according to the filing. It also increased its holding in Ritchie Bros Auctioneers (NYSE:RBA) by 311,543 shares in the quarter, for a total of 2.50M shares, and has risen its stake in Nektar Therapeutics (Call) (NASDAQ:NKTR).

Since September 13, 2018, it had 0 insider buys, and 5 selling transactions for $3.35 million activity.

River Road Asset Management Llc, which manages about $10.26B and $4.81 billion US Long portfolio, upped its stake in Cna Financial Corporation (NYSE:CNA) by 154,381 shares to 692,376 shares, valued at $31.61M in 2018Q3, according to the filing. It also increased its holding in Discovery Inc. Class C (NASDAQ:DISCK) by 76,268 shares in the quarter, for a total of 1.48 million shares, and has risen its stake in General Motors Company (NYSE:GM).

Analysts await Chevron Corporation (NYSE:CVX) to report earnings on February, 1 before the open. They expect $2.06 earnings per share, up 182.19% or $1.33 from last year’s $0.73 per share. CVX’s profit will be $3.94B for 13.88 P/E if the $2.06 EPS becomes a reality. After $2.11 actual earnings per share reported by Chevron Corporation for the previous quarter, Wall Street now forecasts -2.37% negative EPS growth.

Investors sentiment increased to 1.05 in 2018 Q3. Its up 0.02, from 1.03 in 2018Q2. It increased, as 49 investors sold CVX shares while 648 reduced holdings. 121 funds opened positions while 611 raised stakes. 1.18 billion shares or 1.47% less from 1.19 billion shares in 2018Q2 were reported. Deprince Race & Zollo reported 375,639 shares stake. Affinity Advsr Limited Liability Com reported 141,314 shares. Barry Advisors Lc reported 0.11% of its portfolio in Chevron Corporation (NYSE:CVX). Banced has invested 1.8% in Chevron Corporation (NYSE:CVX). Sawgrass Asset Limited Liability Co holds 17,316 shares. 12,904 were reported by Partnervest Advisory Lc. Intrust Retail Bank Na has invested 1.19% in Chevron Corporation (NYSE:CVX). Qv Incorporated stated it has 111,147 shares or 1.44% of all its holdings. Old Natl Bancorporation In has 0.73% invested in Chevron Corporation (NYSE:CVX). Moreover, Ferguson Wellman Cap Mngmt has 2.27% invested in Chevron Corporation (NYSE:CVX). Artemis Llp holds 25,450 shares. Dean Assocs Ltd holds 1% in Chevron Corporation (NYSE:CVX) or 58,669 shares. Barr E S & stated it has 15,154 shares or 0.18% of all its holdings. Phocas Fin Corp stated it has 0.08% in Chevron Corporation (NYSE:CVX). Piedmont Invest Advsr Incorporated invested in 0.64% or 124,824 shares.

Iridium Communications Inc. (NASDAQ:IRDM) Institutional Positions Chart

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SpaceX launches final batch of next-gen satellites

Iridium selected SpaceX in March 2010 to be the sole launch partner for the Iridium NEXT. The companies signed a contract, worth $448 million, …

Following two years of launches, SpaceX completed a major upgrade to a key telecommunications satellite network on Friday.

A Falcon 9 rocket built by Elon Musk’s space venture managed to launch the final ten satellites of a 75-piece constellation for Iridium (IRDM), a satellite operator, just after 7.30am from California’s Vandenberg Air Force Base, reported CNN.

Dubbed Iridium NEXT, the second-generation satellite network aims to offer improved satellite-based internet and phone services as well as marine and air traffic monitoring.

Iridium later on confirmed that all 10 new satellites had “successfully communicated” with ground systems.

However, the company is not quite over the finishing line yet, Iridium CEO Matt Desch said in a statement, “…there is still some work to do to put these satellites into operation,” adding, “Once that’s complete, our future will be in place. I’m just incredibly proud of our team right now.”

Iridium selected SpaceX in March 2010 to be the sole launch partner for the Iridium NEXT. The companies signed a contract, worth $448 million, for seven launches. An eighth launch, for which SpaceX was paid $61.9 million, was added later.

SpaceX launched the first group of Iridium NEXT satellites on January 14, 2017, and has delivered a batch of Iridium satellites into orbit every few months since then.

The $3 billion Iridium NEXT network promises quicker connections.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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SpaceX launches ten new Iridium NEXT satellites into space

SpaceX has launched a constellation of ten new Iridium NEXT satellites into space from Vandenberg Air Force Base in the US. The constellation …

SpaceX has launched a constellation of ten new Iridium NEXT satellites into space from Vandenberg Air Force Base in the US.

The constellation represents the eighth and final units of Iridium NEXT satellite in a series of 75 next-generation communications satellites owned and operated by Iridium.

Around one hour and 12 minutes after the launch, a SpaceX Falcon 9 rocket deployed all the satellites into a low-Earth orbit (LEO).

After the deployment, the first stage of the rocket landed back on the ‘Just Read the Instructions’ drone-ship positioned in the Pacific Ocean.

“Our gratitude to SpaceX for helping bring this new generation of satellites to orbit, so flawlessly every time is beyond words.”

Last September, SpaceX used the first stage of the Falcon 9 rocket to launch the Iridium-8 mission.

Iridium CEO Matt Desch said: “Our gratitude to SpaceX for helping bring this new generation of satellites to orbit, so flawlessly every time is beyond words.

“However, for Iridium, we’re not quite across the finish line yet, as there is still some work to do to put these satellites into operation.

“Once that’s complete, our future will be in place.”

The Iridium NEXT satellites are designed to create a communications network that provides pole-to-pole communication coverage of the Earth.

The network includes six polar orbiting planes, each of which features 11 crosslinked satellites totalling 66 in the operational constellation.

The newly launched satellites are part of the orbital plane three.

Thales Alenia Space designed the Iridium NEXT satellites as system prime contractor, while Thales’ subcontractor Northrop Grumman integrated the probes.

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Musk’s SpaceX is downsizing

Elon Musk’s SpaceX, a private American aerospace manufacturer and space transportation services company, is looking to lay off around 10 per cent …

Musk’s SpaceX is downsizing

January 15, 2019 • Company News, Satellite Communications, Top Stories

Musk's SpaceX is downsizing Musk's SpaceX is downsizing

Musk’s SpaceX is downsizing

Elon Musk’s SpaceX, a private American aerospace manufacturer and space transportation services company, is looking to lay off around 10 per cent of its workforce in an attempt at better managing costs.

This news comes shortly after the company’s first successful launch of 2019 on January 11, sending the Falcon 9 rocket into orbit to complete the Iridium NEXT satellite network.

In a statement to TechCrunch, SpaceX explained that it aims to become a “leaner company” and that these layoffs are necessary to prepare for “the extraordinarily difficult challenges ahead.” These layoffs will affect the positions of more than 577 employees, including those of production managers, machinists, avionics and propulsion technicians, and inventory specialists.

Eric Berger, senior space editor at Ars Technica tweeted a statement on the matter:

SpaceX will reduce its workforce by 10 percent. Statement below. Story later tonight. pic.twitter.com/AxFaz53LI8

— Eric Berger (@SciGuySpace) January 11, 2019

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Falcon 9 returns to Port of Los Angeles 2 days after launch from Vandenberg AFB

The rocket returned to the port of Los Angeles Sunday after successfully delivering 10 Iridium satellites to low-earth orbit, SpaceX tweeted.

The Falcon 9 rocket that launched from Vandenberg Air Force Base last week is now back in California.

The rocket returned to the port of Los Angeles Sunday after successfully delivering 10 Iridium satellites to low-earth orbit, SpaceX tweeted.

Successful deployment of 10 @IridiumComm NEXT satellites to low-Earth orbit confirmed. pic.twitter.com/LADsDoHsNm

— SpaceX (@SpaceX) January 11, 2019

The rocket landed on the Just Read the Instructions drone ship located in the Pacific Ocean.

Friday morning’s launch, the first this year from Vandenberg, delivered the eighth set of satellites in a series of 75 that SpaceX has launched.

Falcon 9 lands on the Just Read the Instructions droneship after delivering 10 @IridiumComm satellites to low Earth orbit and returns to the Port of Los Angeles ahead of its next flight. pic.twitter.com/2X9GKg77Sg

— SpaceX (@SpaceX) January 13, 2019

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