MDA gains as customer Globalstar to be bought by Amazon

Globalstar

14/04/2026 17:30

** Shares of Canadian satellite manufacturer MDA Space MDA.TO rise 4.7% to $32.77

** Amazon.com AMZN.O said on Tuesday it will acquire Globalstar GSAT.O in an $11.57 billion deal, bolstering its fledgling satellite business Leo

** MDA is the primary contractor for Globalstar's next-generation constellation

** "We believe MDA's strong pipeline should allow it to sustain healthy long-term growth even in the absence of follow-on business from GSAT/AMZN once the current contracts are completed" - BMO Capital Markets

** Up to last close, MDA has risen ~62% this year

 (Reporting by Akash Sriram in Bengaluru)

 ((Akash.Sriram@thomsonreuters.com))