Gogo stock pops on news of strategic review, cost-cutting [MarketWatch]
Gogo Inc. (GOGO)
Last gogo inc. earnings: 3/13 07:00 am
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Source: MarketWatch
Gogo stock pops on news of strategic review, cost-cutting Gogo Inc. GOGO, +5.01% shares jumped about 7% in after-hours trading Thursday, when the in-flight Wi-Fi company said it was reviewing potential "strategic alternatives" and looking to cut costs. Gogo said it was looking to reduce cash burn by $100 million in 2019 and an additional $100 million in 2020, and looking to cut spending on its commercial-aviation business by nearly 20% by the end of 2020. Gogo said it hopes to break even on a free cash flow basis in 2020, and was "reviewing multiple options" on convertible debt that becomes current in March of 2019. The company also said it would consider strategic and financial alternatives suggested by "various strategic and financial parties," including splitting its commercial- and business-focused segments. Gogo stock has been slammed amid financial troubles that led to the CEO's departure earlier this year ; he was replaced by the company's largest investor. Gogo shares have
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GOGO
News
- Gogo Inc. to Report First Quarter 2024 Financial Results on May 7, 2024PR Newswire
- Gogo Inc. (NASDAQ: GOGO) had its price target lowered by analysts at Morgan Stanley from $15.00 to $12.00. They now have an "equal weight" rating on the stock.MarketBeat
- Gogo Secures FCC Regulatory Approval for Gogo Galileo TerminalsPR Newswire
- GOGO to Transform In-Flight Connectivity for Business Aviation [Yahoo! Finance]Yahoo! Finance
- Gogo Galileo Global Broadband Coming to European OperatorsPR Newswire
GOGO
Earnings
- 2/28/24 - In-Line
GOGO
Sec Filings
- 4/4/24 - Form 4
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- GOGO's page on the SEC website