Dish Network stock soars after WSJ report of talks to sell wireless plans on Amazon

Shares of Dish Network Corp.
DISH,
+13.72%
soared 15.7% in premarket trading Thursday, after The Wall Street Journal reported that the pay-TV services company is in talks to sell wireless plans for its new mobile phone service through Amazon.com Inc.’s
AMZN,
-0.65%
website. Citing people familiar with the matter, the WSJ report said details of the new plans sold through Amazon could be announced as soon as June. The financial details of the deal could not be learned, the WSJ said. The report noted that Federal regulators have set a June 14 deadline for Dish to meet certain network coverage milestones, and not reaching those milestones could lead to financial penalties. Dish’s stock had closed Wednesday at $6.23, or 1.1% above the 24-year closing low of $6.16 on May 12. It has plunged 53.1% over the past three months through Wednesday, while Communication Services Select Sector SPDR exchange-traded fund
XLC,
+0.22%
has rallied 14.4% and the S&P 500
SPX,
+0.60%
has gained 3.7%.