Macquarie Says Gogo (GOGO), Global Eagle (ENT) Reaction on Verizon (VZ) News Overdone

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Go back to Macquarie Says Gogo (GOGO), Global Eagle (ENT) Reaction on Verizon (VZ) News Overdone

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Shares of Twitter (NYSE: TWTR) are getting slammed Thursday (-19.3%) amid reports overnight from Re/Code that the market's ideal suitor, Google (NASDAQ:... More

UPDATE: Gogo (GOGO) Falls After Verizon (VZ) Sets Path Forward for Airborne LTE Operations

October 6, 2016 10:04 AM EDT

(Updated - October 6, 2016 10:06 AM EDT)

Weakness in Gogo (NASDAQ: GOGO) Thursday morning was tied to a press release from Verizon Communications (NYSE: VZ).

Press release:

The internet of things (IoT) is taking flight at Verizon. The company today announced its strategy to drive innovation and wide-spread adoption for in-flight wireless connectivity through its Airborne LTE Operations (ALO) initiative. Two years in the making, Verizon's plan... More