The Daily Stock Double: ICO Global Communications (ICOG, BA)

By Douglas A. McIntyre Updated Apr 28, 7:02AM EDT · Published Oct 22, 8:00AM EDT

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Space_launch_image_from_ico_2 ICO Global Communications (NASDAQ: ICOG) is indicated to open up more than 100% this morning after announcing a major court win. The small cap mobile satellite services company was awarded "at least $371 million" in its litigation with The Boeing Company (NYSE: BA) and Boeing Satellite Systems. This company’s market cap was only $153 million as of yesterday’s close.

The award was composed of $279 million for a breach of contract andfraud regarding satellite pricing and $91.6 million for fraud regardinglaunches. The company was also awarded $91.6 million against BSSI’sparent company for tortious interference, but this additional amount issubject to further proceedings.

ICO Global has been beaten lately as shares closed yesterday at $0.74.Its 52-week trading range was also $0.12 to $4.83. The woes of latemay be about to change drastically.

We have only seen about 6,600shares trade hands but the stock has traded up more than 100%pre-market. The last print was $1.41, up 90% from yesterday’s close.

Jon C. Ogg
October 22, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.