NEW YORK (TheStreet) -- Shares of Gogo Inc. (GOGO) are higher by 7.15% to $16.27 in early afternoon trading on Thursday, as American Airlines (AAL) announces that it is adding Gogo's inflight wireless services to all of its two-class regional jets.
Gogo is a company that provides in-flight connectivity and wireless in-cabin digital entertainment solutions.
Almost 250 American Airlines' regional aircraft will have in-flight wireless Internet service installed by 2016. American Airlines said the move is designed to enhance its customers' travel experience.
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American said the addition of Gogo's service will allow the company to deliver "a regional product that's better than our competitors."
Separately, TheStreet Ratings team rates GOGO INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate GOGO INC (GOGO) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, disappointing return on equity, generally high debt management risk, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."