Viasat stock falls after earnings but Wall Street stays put
Viasat shares struggled again Monday, dropping 9.63% to $72.86 after Friday’s 7.0% loss, leaving the stock down almost 16% over two days. A new Lockheed Martin subcontract and a price target bump from Needham didn’t stop the bleeding for the satellite communications name. Viasat shares opened lower as investors questioned if the company’s recent space-and-spectrum gains got ahead of what it can deliver on earnings in the near term. The SPDR S&P 500 ETF was quoted about 0.2% above its last close in early trading, so Viasat’s move looked to be tied to the stock rather than the broader market.
