Comtech Telecommunications Corp is trading 6.3% up at $2.93 as investors digest a $157.5 million strategic divestiture following the company's Q3 earnings report.
- The company announced the sale of its Satellite and Space Communications business to a Gilat affiliate for $157.5 million, with proceeds earmarked to reduce debt and support a pivot toward public safety technologies.
- The after-hours recovery follows a significant 42.96% drop during the regular session on June 15, triggered by a Q3 net loss and revenue miss that initially fueled leverage concerns.