Iridium, Planet Labs, and Ziff Davis Shares Skyrocket, What You Need To Know

What Happened?

A number of stocks jumped in the afternoon session after the Dow Jones Industrial Average climbed more than 300 points and briefly touched a fresh all-time high above 50,700 as market sentiment improved amid falling yields. 

Business services revenue moves with corporate confidence: when CFOs feel good, they greenlight the consulting, staffing, and outsourcing contracts they had been sitting on. Cooling Treasury yields also reduce financing costs for the mid-sized clients these firms serve, which usually translates into faster contract awards. 

Furthermore, the Iran peace deal progress removed a major geopolitical overhang, encouraging corporations to release the project backlogs they had paused during the conflict. Business services companies recognize revenue over multi-quarter project timelines, so today's macro relief shows up in tomorrow's earnings.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Satellite Telecommunication Services company Iridium (NASDAQ:IRDM) jumped 4.1%. Is now the time to buy Iridium? Access our full analysis report here, it’s free.
• Data & Business Process Services company Planet Labs (NYSE:PL) jumped 4.4%. Is now the time to buy Planet Labs? Access our full analysis report here, it’s free.
• Digital Media & Content Platforms company Ziff Davis (NASDAQ:ZD) jumped 4.4%. Is now the time to buy Ziff Davis? Access our full analysis report here, it’s free.

Zooming In On Ziff Davis (ZD)

Ziff Davis’s shares are quite volatile and have had 19 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The biggest move we wrote about over the last year was 3 months ago when the stock gained 65.4% after it announced an agreement to sell its Connectivity division to Accenture for $1.2 billion in cash. 

The division included well-known brands such as Ookla, Speedtest, and Downdetector. In the previous year, this business unit generated $231 million in revenue, which accounted for approximately 16% of Ziff Davis' total revenues. The company's CEO, Vivek Shah, called the sale a "transformative deal" that represented a "significant realization of value" for shareholders. Ziff Davis stated that the proceeds from the sale were expected to be used for general corporate purposes and capital allocation. The deal allows the company to concentrate its focus on its other businesses, including enthusiast websites like IGN and Mashable.

Ziff Davis is up 29.2% since the beginning of the year, and at $43.93 per share, it is trading close to its 52-week high of $48.23 from April 2026. Despite the year-to-date gain, investors who bought $1,000 worth of Ziff Davis’s shares 5 years ago would now be looking at only $344.24.

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