Iridium Communications Inc. (IRDM) dropped 8.94 percent to $21.13 on Thursday after releasing its first quarter results. Total revenue rose to $214.9 million from $203.9 million a year earlier, while net income increased to $30.4 million from $19.7 million year over year.
The stock opened at $22.50 and touched a low of $19.92 before partially recovering. Volume reached 2.5 million shares, well above the daily average of 1.4 million.
Iridium is now trading at the low end of its 52-week range of $19.92 to $35.85.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.