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Short Take: Globalstar loses 12 satellites

Shares in Globalstar Telecommunications plunged after a rocket carrying a dozen of its satellites malfunctioned during launch, leading to the loss of all 12 of the spacecraft, which were valued at $15 million apiece, MSNBC reported. Globalstar, which is 42-percent owned by Loral Space & Communications and has a number of other major telecommunications investors, said it is assessing its options regarding its future launch schedule.

    Shares in Globalstar Telecommunications plunged after a rocket carrying a dozen of its satellites malfunctioned during launch, leading to the loss of all 12 of the spacecraft, which were valued at $15 million apiece, MSNBC reported. Globalstar, which is 42-percent owned by Loral Space & Communications and has a number of other major telecommunications investors, said it is assessing its options regarding its future launch schedule.