Streetbeat News

ASTS

AST SpaceMobile, Inc.

Industry

Communication Equipment

AST SpaceMobile, Inc. operates space-based cellular broadband network for mobile phones. Its SpaceMobile service provides mobile broadband services for users traveling in and out of areas without terrestrial mobile services on land, at sea, or in flight. The company is headquartered in Midland, Texas.

Open

25.55

Mkt cap

6.9B

Volume

919K

High

26.11

P/E Ratio

-10.86

52-wk high

39.08

Low

24.48

Div yield

N/A

52-wk low

1.97

Investors are watching several stocks as U.S. futures trade mixed. Travelers Companies (TRV) is expected to report earnings of $5.07/share on $9.99 billion revenue. PPG Industries (PPG) reported better-than-expected Q4 earnings and provided EPS guidance for Q1 and FY24. Schlumberger (SLB) is anticipated to post earnings of 84 cents/share on $8.96 billion revenue. AST SpaceMobile (ASTS) announced a $100 million stock offering and strategic investment from AT&T (T), Alphabet (GOOG, GOOGL), and Vodafone, causing its shares to dip. State Street (STT) is expected to report earnings of $1.83/share on $2.95 billion revenue.

Portfolio Pulse from Avi Kapoor

January 19, 2024 | 7:51 am

AST SpaceMobile has priced its public offering of 32,258,064 Class A common shares at $3.10 each, with potential gross proceeds of $100M, or $115M if the underwriter's option is fully exercised. The funds are intended for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 7:26 am

AST Space Mobile is reportedly planning a share offering priced between $3.00 and $3.50, according to a source.

Portfolio Pulse from Charles Gross

January 18, 2024 | 10:07 pm

AST SpaceMobile Inc (NASDAQ:ASTS) experienced volatility after announcing a $155 million strategic investment from AT&T Inc (NYSE:T), Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), and Vodafone, followed by a $100 million common stock offering. The investment aims to support the commercial rollout of AST SpaceMobile's network, with the new investors also expanding strategic and commercial ties. The stock surged in after-hours trading but pulled back after the stock offering announcement.

Portfolio Pulse from Adam Eckert

January 18, 2024 | 9:59 pm

AST SpaceMobile, Inc. (NASDAQ:ASTS) has announced a public offering of $100,000,000 of its Class A common stock. The company will also provide a 30-day option for the underwriter to purchase an additional $15,000,000 of shares. The net proceeds will be used for general corporate purposes. UBS Investment Bank and Barclays are the joint book-running managers, with Deutsche Bank Securities, B. Riley Securities, and Scotiabank also serving as joint book-runners.

Portfolio Pulse from Charles Gross

January 18, 2024 | 9:41 pm

AST SpaceMobile has announced new financing of up to $206.5M in gross proceeds, with investments from major companies including AT&T, Google, and Vodafone. This capital infusion is aimed at advancing AST SpaceMobile's mission to deliver space-based mobile broadband services.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 9:12 pm

SpaceX, led by Elon Musk, has launched its first set of direct-to-cell Starlink satellites, partnering with T-Mobile US to potentially enter the telecommunications market. The technology aims to provide mobile phone connectivity anywhere on Earth, especially in areas with limited connectivity. SpaceX plans to offer text messaging this year and voice and data services by 2025, pending further FCC approvals. The move could increase SpaceX's customer base and compete with similar initiatives by Apple, Amazon's Project Kuiper, and AST SpaceMobile.

Portfolio Pulse from Chris Katje

January 05, 2024 | 10:01 pm

AST SpaceMobile Inc (NASDAQ:ASTS) shares rose after the company announced progress in fundraising efforts and securing initial ground infrastructure orders from two customers. The company is working on a space-based cellular broadband network accessible by smartphones. There's no certainty of transaction completion.

Portfolio Pulse from Adam Eckert

January 03, 2024 | 1:59 pm

AST SpaceMobile has updated its fundraising progress, indicating that it now aims to close and fund a previously disclosed strategic investment with multiple parties in January 2024.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 9:32 pm

Rivian Automotive (RIVN) reported lower-than-expected delivery figures for Q4 2023, causing its shares to drop 9.1%. Other stocks also moved lower, including Corcept Therapeutics (CORT) after a court decision, Anavex Life Sciences (AVXL) following a program update, and MiMedx Group (MDXG) after receiving an FDA warning letter. Several companies faced downgrades or negative financial updates, contributing to declines in their stock prices.

Portfolio Pulse from Avi Kapoor

January 02, 2024 | 4:47 pm

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