Group 1: Market Overview - The war in Iran has led to relatively calm markets, with the S&P 500 closing flat and the Nasdaq Composite up 0.15% [1] - Traders stepped in to buy on the dip, indicating some level of market resilience despite geopolitical tensions [1] Group 2: Gogo (GOGO) Stock Performance - Gogo's stock gained 12.29% with trading volume double its 30-day average, indicating increased volatility [2] - The catalyst for this gain was the company's Q4 2025 revenue report, which was released before the market opened [3] - Despite a nearly 6% loss on the previous Friday, Gogo's shares are up nearly 2% in 2026 [3] Group 3: Financial Performance and Projections - Gogo's free cash flow is projected to reach $150 million in 2025, a significant increase from $45 million in 2024 [5][6] - The company delivered $41.9 million in free cash flow for 2024, falling short of its target by $3.1 million, and achieved $89.2 million in 2025, which is 41% below its target [6] - The ambitious free cash flow target was impacted by the acquisition of Satcom Direct for $375 million in cash and additional stock and earnout considerations [7]