Stocks end the session mixed after Nordstrom and J.C. Penney become the latest retail names to report on a weak quarter.
Interest in the satellite communications company has grown following the bidding war that erupted over Straight Path, which also owned wireless spectrum.
Companies with niche wireless spectrum holdings are in demand as Verizon, AT&T and others look to speed up their wireless networks. Investors are adjusting expectations Thursday.
A bidding war for Straight Path's valuable wireless spectrum has led its shares to more than quintuple in the last month.