Globalstar rises on report of Amazon's talks to acquire satellite telecom firm

Globalstar

14/04/2026 11:41

** Shares of satellite telecom firm Globalstar GSAT.O climb 13.7% to $82.87 premarket

** Bloomberg News reports Amazon AMZN.O is in advanced talks to acquire the firm

** The report, citing people familiar with the matter, says a transaction could be announced as soon as Tuesday and would bolster the tech major's push to build its own satellite operation

** Average rating of 4 analysts on the stocks is a "buy"; median PT at $70.50 - data compiled by LSEG

** As of last close, GSAT stock down 19.4% YTD

(Reporting by Tharuniyaa Lakshmi in Bengaluru)

((tharuniyaa@thomsonreuters.com))