Why Intelsat Stock Just Popped 8%
This is the day that Intelsat (NYSE: I) shareholders have waited for. At long last, Intelsat stock is going up for a reason that investors can easily understand: earnings.
This morning, shares of the satellite communications concern jumped 8% (as of 11:55 a.m. EST) in response to fiscal fourth-quarter earnings results that exceeded expectations. Admittedly, Intelsat exceeded those expectations as it lost money -- but at least it lost less than expected.
"Hey, Houston! Did Intelsat just say it might get more money?" Image source: Getty Images.
Source Fool.com
