EchoStar’s Spectrum Sale and Impairment Charge

- EchoStar (SATS) shares drop after the company reported a $16.5 billion impairment charge and agreed to sell more spectrum licenses to Elon Musk’s SpaceX for $2.6 billion as it works to unwind parts of its 5G wireless network.
- Elf Beauty (ELF) shares sink after the cosmetics company’s full-year outlooks for adjusted earnings per share and net sales both missed analysts’ estimates.
- CarMax (KMX) shares slump after the company terminated its chief executive over lagging sales and its' earnings missed analyst estimates.

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