Why EchoStar Shares Are Soaring Today

The company has a deal that should solve its regulatory and cash concerns.EchoStar (SATS 76.42%) has a deal to sell wireless spectrum licenses to AT&T (T -1.72%) for $23 billion, a deal that would clear up a lot of the uncertainty surrounding the telecommunications company. Investors are celebrating the announcement, sending EchoStar shares up more than 75% as of 10 a.m. ET. Switching focus as pressure buildsEchoStar is a satellite television and communications company currently focused on growing its Boost ...