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Iridium To Present At June Investor Conferences

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MCLEAN, Va., May 29, 2021 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium") today announced that Company executives would participate at two investor conferences in June:

Iridium Communications Inc. (PRNewsfoto/Iridium Communications Inc.)
Iridium Communications Inc. (PRNewsfoto/Iridium Communications Inc.)

  • The William Blair 41st Annual Growth Stock Conference on Wednesday, June 2, 2021 at 3:00 p.m. ET.

  • The Sidoti Virtual Investors Conference on Wednesday, June 23, 2021 – see website for presentation time.

Presentations from each conference will be webcast on the Investor Relations section of Iridium's website at http://investor.iridium.com/events. Each webcast will be archived at the same location for seven days.

About Iridium Communications Inc.
Iridium® is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. In 2019, the company completed a generational upgrade of its satellite network and launched its new specialty broadband service, Iridium Certus. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the Nasdaq Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services and partner solutions, visit www.iridium.com.



Investor Contact:

Press Contact:



Kenneth Levy

Jordan Hassin

Iridium Communications Inc.

Iridium Communications Inc.

+1 (703) 287-7570

+1 (703) 287-7421

ken.levy@iridium.com

jordan.hassin@iridium.com

Cision
Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/iridium-to-present-at-june-investor-conferences-301302016.html

SOURCE Iridium Communications Inc.

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    (Bloomberg) -- AMC Entertainment Holdings Inc. capped its best trading session in four months, pushed higher by eager retail investors who celebrated vaulting the company’s market value to a record $13 billion on social media.Shares soared 36% to $26.52 as 691 million shares changed hands, in the busiest day since January for the Leawood, Kansas-based company. The four-day rally more than doubled its stock price, pushing its year-to-date gains to 1,150%.AMC’s revival has been fueled by individual investors eager to save the movie theater industry after it raised more than $1 billion in financing to avoid bankruptcy over recent months.Chief Executive Officer Adam Aron has embraced the Reddit-fueled rally and talked to new retail investors on conference calls. The stock has roughly tripled since AMC reported quarterly results on May 6, adding $9 billion in value. Thursday’s milestone stands out against a market value bottom of $216.8 million which was hit in April 2020.While Chad Beynon, an analyst with Macquarie Securities, is waiting for AMC to continue to shed debt and lease obligations before getting more constructive on shares, he acknowledged the mania individual investors can create.“The Reddit crowd is strong, the volumes have been off the charts lately, so there’s clearly demand that wasn’t there pre-Covid,” he said by phone. The company’s ability to raise cash at over $10 a share earlier in the month “marked the first time the company was able to financially benefit from the Reddit rally,” he said.The cash AMC has raised through the sales of hundreds of millions of additional shares is a key driver for the massive run-up in market value despite the stock actually trading down more than 25% from a 2015 peak. More than 490 million shares of AMC are currently available for trading, data compiled by Bloomberg show, almost ten-times the 52 million shares outstanding at the start of last year.More CapitalDebt tied to AMC has rallied alongside shares, setting new highs in recent days. The company’s bonds, which were trading at a low of 5 cents in November, are inching close to par, according to Trace trading data. That debt carries a hefty coupon of 12% for the notes due 2026.AMC’s bonds were among the top performers in the U.S. high-yield market on Thursday, extending gains from earlier in the week.The company said previously it might seek more financing, and some investors have suggested it sell more shares to pay down or look to refinance its more than $10 billion debt load.The cinema chain “will carefully examine the raising of additional capital in whatever form we think is most attractive” and is focused on de-leveraging, Aron said on a call to discuss fourth-quarter results in March.The company’s latest resurgence at the hands of individual investors has pushed the market value to more than double its April 2017 peak of $4.17 billion prior to this year’s trading. Put a different way, AMC has consistently added more than $1 billion in each of the last three sessions -- more than double its value at the start of the year.Mark-to-market losses for investors betting against the movie theater chain topped $1 billion this week alone, data compiled by S3 Partners shows.The movie theater company’s ability to post strong box office numbers as it reopens in key markets like New York and California will be important, B. Riley Securities analyst Eric Wold said by phone. Wold downgraded shares to neutral from buy on Wednesday citing valuation concerns.(Updates with details on shorts in second to last paragraph. A previous version corrected trading volume, company location in second paragraph.)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Credit Suisse Loses Four Financial Institutions Bankers to Jefferies

    (Bloomberg) -- Credit Suisse Group AG’s top financial services banker is leaving the firm for Jefferies Financial Group Inc. along with at least three colleagues, as departures accelerate at the scandal-plagued firm.Alejandro Przygoda, global head of financial institutions, is joining Jefferies along with Carlos Marque, Fitzgerald Woolcott and Henry Kong, according to people familiar with the matter, who asked to not be identified because the matter isn’t public.The departures follow a wave of exits from Credit Suisse in the wake of debacles involving Archegos Capital Management and supply-chain finance firm Greensill Capital. The financial-institutions group has seen at least four senior exits in recent weeks, with defections to Barclays Plc, Bank of America Corp. and Goldman Sachs Group Inc.Representatives for Credit Suisse and Jefferies declined to comment. The bankers didn’t respond to requests for comment.Przygoda, who focuses on deals in the insurance sector, joined Credit Suisse in 2011 from Greenhill & Co. Prior to that he had worked at UBS Group AG and Donaldson, Lufkin & Jenrette, according to the Financial Industry Regulatory Authority.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • National Bank Declines After Earnings Underwhelm Investors

    (Bloomberg) -- National Bank of Canada shares fell the most in four months after its fiscal second-quarter results underwhelmed investors following a week of blowout earnings from its peers.While National Bank’s profit topped analysts’ estimates, four of its Canadian banking peers also posted earnings that beat projections this week. National Bank, which generates a bigger portion of revenue from capital-markets activities than any of the country’s six biggest banks, also was hampered by a slowdown in that unit following a strong quarter for trading a year earlier.National Bank shares fell as much as 3% in Toronto on Friday, the biggest intraday decline since Jan. 29. The stock had climbed 35% this year through Thursday, the largest increase among Canada’s Big Six banks.“National ran up a lot into the quarter -- the bank has been the best performer year-to-date -- so the expectations were really high entering the quarter,” Scott Chan, an analyst at Canaccord Genuity Group Inc., said in an interview. “But, all in all, National had pretty strong results across the board.”While net income from National Bank’s financial-markets unit rose 50% to C$238 million ($197 million), the gain was driven by a lower provision for credit losses. Revenue in the unit slipped 5.2% from a year earlier, when pandemic-roiled markets fueled a surge in trading activity.Still, this year’s climbing equity markets helped the bank’s wealth division, with profit in that business rising 17% to C$165 million last quarter, the Montreal-based company said Friday.Overall net income more than doubled to C$801 million, or C$2.25 a share, in the three months through April. That compared with analysts’ C$1.94-a-share average estimate.Helping net income was a big decrease in provisions for credit losses. The lender set aside C$5 million for potential bad loans, down from C$504 million a year earlier and less than analysts’ C$81.9 million average projection.Profit in the personal and commercial banking business, which is focused on Quebec, increased more than fivefold to C$321 million in the second quarter. Revenue in the unit rose 6.6% last quarter, and the value of mortgages in the unit swelled 9.4% from a year earlier to C$72 billion.The bank’s balance of commercial loans also gained from both a year earlier and the previous quarter, helped by its strength in Quebec as well as an emphasis on specialized sectors outside the province, including creative industries, real estate, health care and technology, Chief Executive Officer Louis Vachon said.“In terms of customer acquisition, we’ve had pretty consistent growth,” Vachon said in an interview. “We’ve been a consistent player in the mortgage market, where we’ve had pretty steady growth over the last quite a few years, and same thing on the commercial side.”(Updates with CEO’s comments in last two paragraphs.)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.