Why Iridium Stock Just Blasted 11% Higher

Iridium Communications (IRDM 11.27%) stock soared 11.1% through 12:05 p.m. ET Tuesday after the company reported a big earnings beat despite missing slightly on sales this morning. Iridium earnings were terrific, not only beating estimates but reversing the company's year-ago loss of $0.24 per share. True, the company explained that "net income primarily benefited from a year-over-year decrease in depreciation expense associated with the extension of the estimated useful lives of the Company's satellites an ...