Iridium's L-band spectrum, PNT and acquired Aireon still have substantial value, despite stalled growth and rising leverage. Third-quarter revenue rose 8% to $245.7 million and subscribers grew 6%; reported net income nearly tripled to $106.9 million, with the attached results attributing much of that gain to the Aireon acquisition. x.com 

Viasat looks attractive because its earlier selloff showed textbook accumulation alongside inefficient selling. The stock was 25% below its swing high after about 100 days when that pattern was flagged; the bullish view still favors adding. x.com 

The EU's planned split of expiring 2 GHz S-band rights among new uses leaves Viasat at high risk of getting nothing. Its current 15+15 MHz allocation expires in May 2027; one 10+10 MHz block is expected for IRIS2, another for a European carrier venture working with AST SpaceMobile, and the open block is likelier to go to SpaceX despite political concerns. No future awards have been made. x.com  x.com 

Rocket Lab's growing Space Systems business positions it to provide more than launches for the space economy. It generated $189.5M in Q2, 81% of revenue; if its pending Iridium acquisition closes, it would gain a global satellite communications network. At about $51, this is one of the most compelling long-term opportunities in the space sector over 3-5 years, provided it keeps executing. Neutron's launch has slipped to 2027, and execution risks remain. x.com  x.com  x.com 

Viasat may be a spectrum-sale or takeover candidate. Heavy call flow over the last few weeks suggests someone is positioning for either outcome, which fits the recent Iridium and Globalstar buyouts. x.com 

Rocket Lab's record Q2 and Iridium deal show it becoming an end-to-end space and defense platform that can capture more value than a launch-only company. Q2 revenue hit a record $234M, up 62%, and backlog a record $2.36B after over $1B of new contracts. Iridium adds over $870M of annual L-band revenue tied to government and enterprise. Launch revenue fell 30% sequentially largely because more HASTE defense work is recognized over time; Mynaric integration weighs on near-term margins. x.com 

Rocket Lab's 58% drop from its high on the Iridium deal financing is the entry for a five-year hold. The $8B Iridium acquisition adds a 66-satellite constellation with over $870M of annual revenue, turning a launch company into an end-to-end space business. Revenue grew 62% to $234M last quarter, backlog rose 137% to $2.36B with a record 90+ launches booked, Electron is 13 for 13 this year, and Neutron is targeted for the pad in Q4. x.com 

AST SpaceMobile's direct-to-phone satellite network makes it an extremely bullish long-term space-economy bet. Partnerships with more than 60 mobile operators representing over 3 billion potential subscribers and about $1.3 billion in contracted revenue backlog support the case. It targets initial, intermittent broadband coverage in five countries before end-2026; its market cap is roughly half Rocket Lab's, though both face significant execution risks. x.com 

Viasat could be a takeover target for its roughly 68MHz of scarce global L-band spectrum after Rocket Lab's Iridium deal began a revaluation of space-communications firms. The spectrum suits direct-to-device, IoT and military use, which SpaceX and Amazon need. Viasat is far larger and more indebted than Iridium, so a partial sale or alliance is likelier than a full buyout. Odds are about 40-50% for SpaceX and 20-30% for Amazon, low near term; Barclays and Barron's speculation drove the rally. … Show more

Rocket Lab's Iridium deal should be great for the company if it maintains Iridium's revenue and takes out some costs. A pro forma analysis on consensus estimates shows Iridium improves Rocket Lab's margins and profitability in exchange for slower top-line growth. Per the proxy, Street consensus appears to have baked in and discounted Iridium's projections including Aireon, though the pro forma figures exclude the $367M paid to NAV Canada. x.com  x.com