Former Los Angeles Deputy Sheriff Sentenced to Over 5 Years in Prison for Assisting Cryptocurrency Fraudster in Extortion

Reuters, October 8 – SpaceX reached an agreement on Thursday to acquire a nationwide portfolio of low-frequency spectrum, enabling Elon Musk’s satellite business to mount direct orbital competition against traditional U.S. wireless telecom giants. While Starlink Mobile’s existing global 2 GHz mid-band spectrum will provide high bandwidth capacity, this new spectrum will allow its signals to penetrate obstacles. The financial terms of the deal have not been disclosed. This move accelerates billionaire Musk’s ambitions to bypass traditional wireless infrastructure and provide direct cellular network connections to smartphones from orbit. Low-frequency bands are highly valued in telecommunications for their ability to travel longer distances and penetrate dense structures such as walls and tree cover, thereby overcoming a major technical barrier previously faced by satellite mobile networks. The transaction involves the acquisition of 100% of the nationwide 800 MHz spectrum portfolio held by private equity firm Grain Management and is still subject to regulatory approval from the U.S. Federal Communications Commission (FCC). Telecom stocks fell as investors feared competition from SpaceX could trigger a fierce price war and erode their market share in the already saturated U.S. wireless market. The shares of T-Mobile US, Verizon, and AT&T all dropped more than 5% in after-hours trading. The FCC this week also approved Starlink Mobile’s application for a second-generation satellite constellation, authorizing SpaceX to launch 15,000 satellites worldwide optimized for the 2 GHz band. (For the convenience of non-native English speakers, Reuters automatically translates its reports into several other languages. As automated translation may contain errors or may lack required context, Reuters does not guarantee the accuracy of automated translation texts; they are provided solely for readers’ convenience. Reuters assumes no responsibility for any damages or losses resulting from the use of automated translation features.)

This article was automatically generated using Dow Jones technology. Shares of iShares Russell 1000 Growth ETF dropped 1.3% to $127.11 Thursday on what proved to be an overall negative trading session for the U.S. stock market, with the S&P 500 Index falling 0.5% to 7,765.36. This was the fund's second consecutive day of losses. The fund's underlying index, the Russell 1000 Growth Index, fell 1.3%. The ETF's shares closed 2.1% below the 52-week high of $129.80 seen on October 6, 2026. Trading volume was 4,726,199, compared to the 65-day average trading volume of 3,881,173. As of October 7, the fund's net asset value totaled $128.81 per share. Data source: Dow Jones Market Data, FactSet (END) Dow Jones Newswires October 08, 2026 16:36 ET (20:36 GMT)

This article was automatically generated by Dow Jones using technology from Automated Insights. Shares of FactSet Research Systems Inc. advanced 5.0% to $286.52 on what proved to be an all-around mixed trading session for the stock market, with the Dow Jones Industrial Average rising 0.1% to 51,231.64 and the S&P 500 Index falling 0.5% to 7,765.36. This was the stock's second consecutive day of gains. FactSet Research Systems Inc. closed 10.6% below its 52-week high of $320.48, which the company achieved on September 3rd. The stock outperformed some of its peers, as Alphabet Inc. Cl C fell 0.7% to $344.86, Alphabet Inc. Cl A fell 0.6% to $348.29, and S&P Global Inc. rose 1.91% to $402.73. Trading volume totaled 1.1 million, compared to the 50-day average of 847,281. Data source: Dow Jones Market Data, FactSet (END) Dow Jones Newswires October 08, 2026 16:34 ET (20:34 GMT)