On June 10, Viasat fell 5.45% in regular trading, trading at $61.61/share, with trading volume of $58.17 million. The decline reflects continued fallout from the company's fourth fiscal quarter revenue miss and broad weakness across the communication equipment sector.
Viasat reported Q4 revenue of $1.171 billion, falling short of the $1.20 billion consensus estimate. The company also issued conservative full-year guidance projecting only mid-single-digit revenue growth and flat-to-slightly-higher adjusted EBITDA. Although the company was recently selected by Lockheed Martin to provide a hybrid satellite communications platform for NOAA's next-generation aircraft program, the resulting stock bounce failed to sustain momentum as bulls continued to exit positions built during the prior rally driven by SwiftBroadband-Safety milestones and analyst upgrades.
At the industry level, the communication equipment sector experienced broad-based selling pressure. Among sector peers, Applied Optoelectronics fell 16.76%, Lumentum fell 11.43%, Ciena fell 9.0%, Nokia fell 8.4%, and Cisco fell 4.65%, amplifying downward pressure on Viasat through sector-wide correlation.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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