ViaSat Inc. (VSAT) shares are lagging behind the broader market rally on Wednesday, likely due to a new short report by The Bear Cave. The report claims Elon Musk’s SpaceX is rapidly gaining market share in the satellite internet market at the expense of ViaSat, citing customer reviews, dwindling subscriber base, and potential pressure from Donald Trump’s return to the White House.
Viasat has launched its Enhanced LAISR service, providing a significant upgrade to its L-band network. This service offers highly available and adaptable connectivity for airborne, maritime, and land-based users worldwide, meeting the growing demand for reliable satellite communication in government and commercial applications.
Viasat, a global leader in satellite communications, has appointed Gary Chase as its new Chief Financial Officer, effective September 16, 2024. Chase brings extensive experience in financial management and strategic leadership from his previous role at Delta Air Lines, where he served as Senior Vice President of Operational Finance. His appointment marks a significant leadership change for Viasat as it focuses on growth and innovation in the satellite communications industry.
US stock futures are mixed this morning, with the Dow futures falling around 50 points. On Holding AG, the parent company of On Running, saw its shares drop sharply in pre-market trading after reporting mixed second-quarter financial results. The company missed earnings estimates but beat sales expectations. Several other stocks are also experiencing losses in pre-market trading, including Viasat, UTime Limited, Tencent Music Entertainment Group, Hudbay Minerals, Genmab, and Lumen Technologies.
Viasat and Airbus Defence and Space have partnered to equip the Spanish Ministry of Defence’s new Airbus C295 Maritime Patrol Aircraft (MPA) with advanced satellite communication technology. Viasat’s GAT-5530 dual-band broadband terminal will provide robust, flexible broadband SATCOM capabilities, enhancing command and control, intelligence, surveillance, and reconnaissance (ISR) operations.
NexusWave is a fully managed connectivity service from Inmarsat Maritime that seamlessly integrates multiple high-speed networks, including Global Xpress (GX) Ka-band, low-Earth orbit (LEO) services, and coastal LTE service, with an additional layer of L-band for resilience. This ensures fast, always-on connectivity for maritime vessels anywhere in the world. NexusWave is also designed to meet evolving customer needs, supporting digitalization and crew welfare initiatives, transforming ships into floating offices and homes for an unparalleled experience.
