EchoStar jumps after report Trump urged spectrum licenses deal

Shares of satellite communications company EchoStar SATS.O rise 50.5% to $25.35 after the bell

U.S. President Donald Trump has intervened to push SATS and Federal Communications Commission Chairman Brendan Carr to resolve a dispute over company's valuable spectrum licenses - Bloomberg reports

FCC, in May, notified SATS it was investigating the company's compliance with certain federal obligations to provide 5G service in the U.S., questioning company's buildout extension and mobile-satellite service

Last week, WSJ reported SATS considering a Chapter 11 bankruptcy filing as it vies to shield its cache of wireless spectrum licenses from the threat of revocation by federal regulators

As of last close, stock down 26.5% YTD