Japanese Yen: Choppy trade inside defined range – UOB

Harshita Mary Varghese, Reuters, October 9 - SpaceX SPCX.O has agreed to acquire a portfolio of low-band spectrum licenses covering the entire United States, in a deal reportedly valued at $8 billion. The company is seeking to expand its business beyond satellite internet and become a major competitor in the U.S. mobile market. SpaceX revealed its plans to enter the mobile service sector during its first earnings call in August. This announcement briefly weighed on the company’s stock price, and shares of the three major U.S. wireless carriers—AT&T, T-Mobile, and Verizon—were also affected as investors assessed the potential competitive threat. What is low-band spectrum? Low-band spectrum refers to radio waves that travel further and penetrate buildings better compared to higher frequencies, making them suitable for wide-area mobile network coverage. In contrast, mid-band and high-band spectrums can transmit more data at faster speeds but have a smaller coverage area. SpaceX has agreed to purchase up to 14 MHz of paired 800 MHz low-band spectrum licenses from Grain Management and plans to develop a hybrid architecture for Starlink Mobile, combining terrestrial infrastructure with satellite connectivity. How is the U.S. spectrum licensing system structured? Commercial spectrum is a scarce resource in the U.S., regulated by the Federal Communications Commission (FCC), which typically allocates licenses for specific frequencies and geographic areas via auctions or other authorization processes. License holders must comply with technical rules and deployment requirements, and transfers of licenses usually require regulatory approval before obligations are fulfilled. The spectrum license deal recently struck by SpaceX is pending FCC approval. Which low-band spectrum do the three major carriers hold? AT&T’s low-band spectrum includes the 700 MHz and 850 MHz bands, as well as 600 MHz spectrum licenses acquired this July through the purchase of EchoStar. Verizon holds spectrum in the 700 MHz and 850 MHz bands, while T-Mobile’s low-band holdings include 600 MHz and 700 MHz spectrum. What are the plans for STARLINK MOBILE? The company plans to integrate these spectrum licenses into its next-generation satellite system, while also deploying terrestrial radio equipment and antennas on communication towers and rooftops. The FCC this week approved Starlink Mobile’s application for its second-generation (Gen2) satellite constellation, authorizing SpaceX to launch 15,000 satellites globally optimized for the 2 GHz spectrum.

Query string for tracking individual stock trends: STXBZ "Today's Outlook" newsletter: https://refini.tv/3LI4BU7 "Morning News Briefing": https://refini.tv/3dKUyB8 Reuters, October 9 – On Friday, U.S. stock indices are expected to open higher, boosted by falling oil prices as concerns over Middle East supply ease, although telecom stocks remain under pressure amid worries of increased industry-wide competition following SpaceX's spectrum acquisition. ** T-Mobile US Inc TMUS.O: In Discussion – European telecom stocks fell after SpaceX's spectrum deal nL6N45V0EH ** SpaceX SPCX.O: In Focus – Shares rose after reaching an agreement to acquire a nationwide low-band spectrum portfolio nL4N45V0KP ** Humana Inc HUM.N: In Focus – Shares rose on the back of an upgraded rating for its “Federal Medicare Advantage Plan” [nL4N45V0LU ** Definium Therapeutics Inc DFTX.O: Market Watch – Stock rose after JPMorgan rated its LSD-based therapies as “Overweight” nL4N45V0NH ** UnitedHealth Group Inc UNH.N: Market Update – TD Cowen lowered its price target ahead of UnitedHealth’s Q3 financials nL4N45V0OU ** Newmont Corporation NEM.N: ** Gold Fields Ltd GFI.N: ** Harmony Gold Mining Company HMY.N: ** AngloGold Ashanti AU.N: Market Update – Gold miner stocks rose modestly as gold prices moved up on weaker dollar nL4N45V0PG ** Delta Air Lines DAL.N: Market Flash – Shares dropped after sharply cutting its full-year profit guidance nL4N45V0RA ** Apple AAPL.O: In Focus – Shares fell on reports of iPhone production cuts nL4N45V0SB ** Crescent Energy CRGY.N: Market Update – Shares dropped after it raised $1 billion to acquire Devon Energy nL6N45V0J4 ** Medtronic MDT.N: ** Tandem Diabetes Care Inc TNDM.O: ** PROCEPT BioRobotics Corp PRCT.O: ** Insulet Corporation PODD.O: Market Update – Leerink says industry-wide growth concerns for med-tech may outweigh Q3 results nL4N45V0YE (For the convenience of non-English speakers, Reuters automates translation of its reports into several languages. Because automated translations may contain errors or fail to capture the intended context, Reuters does not guarantee the accuracy of these texts and provides them solely for reader convenience. Reuters assumes no liability for any damages or losses resulting from the use of automated translation features.)