Iridium Communications Inc. (NASDAQ:IRDM) announced the pricing of its offering of 7,377,050 shares of its common stock at a price to the public of $6.10 per share and 500,000 shares of its new 6.75% series B cumulative perpetual convertible preferred stock at a price to the public of $250 per share. The gross proceeds to Iridium from the offerings are expected to be approximately $170 million, before deducting underwriting discounts and commissions, and other estimated offering expenses payable by Iridium. Both offerings are expected to close on or about May 14, 2014. Iridium Communications Inc. (NASDAQ:IRDM) net profit margin is 14.50% and weekly performance is 3.18%. On last trading day company shares ended up $7.47. Analysts mean target price for the company is $8.50. Iridium Communications Inc. (NASDAQ:IRDM) distance from 50-day simple moving average (SMA50) is 3.83%.
Sky-mobi Limited (ADR) (NASDAQ:MOBI) a leading mobile application store in China, announced that the Company plans to release its financial results for the fourth quarter and full fiscal year 2014 ended March 31, 2014 on Tuesday, May 27, 2014 before market open.Sky-mobi Ltd (ADR) (NASDAQ:MOBI) shares advanced 11.35% in last trading session and ended the day on $6.77. MOBI Gross Margin is 31.40% and its return on assets is 3.90%. Sky-mobi Ltd (ADR) (NASDAQ:MOBI) quarterly performance is 49.45%.
Mandalay Digital Group, Inc. (NASDAQ:MNDL)a leading provider of mobile technology solutions, announced that it will host an investor day in New York City on Wednesday, July 9, 2014 from 3p.m. – 6p.m. ET, followed by a cocktail reception. Mandalay Digital Group Inc (NASDAQ:MNDL) shares moved up 8.62% in last trading session and was closed at $3.53, while trading in range of $3.24 – $3.55. Mandalay Digital Group Inc (NASDAQ:MNDL) year to date (YTD) performance is 34.73%.
On May 9, GTT Communications, Inc (NYSEMKT:GTT), a cloud networking service provider offering Tier 1 IP and Ethernet network solutions to multinational enterprises, announced its financial results for the first quarter ended March 31, 2014. Net loss of $0.41 per share includes $0.37 per share loss related to other non-cash expense of $7.2 million for the mark-to-market of warrants and other non-cash expense of $1.6 million related to the final nLayer earn-out both due to significant stock price appreciation in the quarter. GTT Communications Inc (NYSEMKT:GTT) ended the last trading day at $10.05. Company weekly volatility is calculated as 13.52% and price to cash ratio as 41.21. GTT Communications Inc (NYSEMKT:GTT) showed a negative weekly performance of -11.76%.