Rocket Lab Is Buying Iridium, and Guess What? Iridium Just Beat Earnings!
Iridium Communications (NASDAQ: IRDM) announced its Q3 2026 earnings Tuesday morning, Oct. 20. Shares of the satellite communications company are basically flat since — they cost $44.18 Monday evening before earnings, and they cost $44.25 at Wednesday’s close. Rocket Lab (NASDAQ: RKLB) stock, on the other hand, is up a healthy 4.5% since Iridium reported its earnings.
Why is that?
It’s because it doesn’t really matter much anymore — or soon won’t — how well Iridium does. Rocket Lab is buying Iridium, you see (in an $8 billion deal). And for this reason, Iridium’s good news is actually really Rocket Lab’s good news.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.