Stocks to Watch: Oblong, EchoStar, Blackstone

By Connor Hart

Oblong said in an SEC filing on Friday that it received about $593,000 in net proceeds from the exercise of 188,933 common warrants at a price of $3.41 each. The Denver-based provider of collaboration solutions sold the warrants between Tuesday and Thursday in exchange for 188,933 shares of common stock. Shares rise 9.8%, to $4.14, in after-hours trading.

EchoStar said the Federal Communications Commission approved its 5G network buildout framework. The telecommunications company, which merged with Dish Network at the end of last year, said the updated framework would allow it to enhance the building out of its 5G boost mobile network. By the end of 2024, EchoStar's boost mobile network will cover 80% of the U.S. population. Shares rise 4.8%, to $27.29, in post-market trading.

Blackstone will sell Motel 6 to India-based hotel giant Oyo for $525 million, The Wall Street Journal reported. The acquisition is part of Oyo's plan for ramping up its expansion into U.S., the company said. The sale is expected to close in the fourth quarter. The New York investment firm first acquired the lodging brand in 2012. Shares are flat, at $158.12, in after-hours trading.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

September 20, 2024 18:44 ET (22:44 GMT)

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