Viasat (VSAT) lost 12% in post-market trade after reporting a $0.24 loss per share (non-GAAP). Revenue increased by 72.6% Y/Y to $1.15 billion. The market’s reaction is opposite to that of AST SpaceMobile (ASTS), whose stock gained 87.65% in a week. ASTS stock rose after the firm announced a satellite deal with AT&T (T).
Viasat said that it faced a decline in fixed broadband declines, offset by growth in mobility services revenue.
In retail, Urban Outfitters (URBN) added 5% last night after posting Q1 profits and sales rising by 7.8% to $1.2 billion. The retailer benefited from strong sales in the Anthropologie and Free People segments. Gross margin increased thanks to higher initial merchandise markups. Marketing costs and higher payroll costs increased costs, as SG&A expenses increased by 11.3%.
In the de-SPAC stock world, Trump Media & Technology (DJT) lost 8.66%. The firm posted an operating loss of $327.6 million. Trump owns 60% of the firm. This gives the former president a stake that is worth a massive $3.6 billion. As Trump sells shares, DJT stock risks losing significant value. The stock closed at $4.19 on Tuesday.
In the cryptocurrency sector, watch Ethereum (ETH-USD) and Bitcoin (BTC-USD) gain in value. The market is waiting for the SEC to approve an ETF for the Ethereum coin.