Overview of Important Developments on May 10th at Noon

Sources say Southwest Airlines is considering adopting the Boeing 787 model to expand its international long-haul route business.

SpaceX rose nearly 3% after hours as the company acquired low-frequency spectrum, targeting US wireless carriers.

TD Bank has received approval to carry out a share repurchase program with a maximum amount of 10 billions Canadian dollars. This approval reflects TD Bank’s strong confidence in its own long-term fundamentals, and the bank will flexibly arrange the specific pace of the repurchase based on factors such as market conditions and its own operations.

SpaceX (SPCX.US) announced on Thursday that it has reached an agreement to acquire a portfolio of low-frequency spectrum licenses covering the entire United States, enabling it to directly compete with traditional wireless communication giants nationwide. 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. This move accelerates Elon Musk’s ambitious plan to bypass traditional wireless infrastructure and deliver cellular network connectivity directly to smartphones from Earth’s orbit. The deal involves acquiring 100% of a nationwide 800 MHz spectrum portfolio owned by private equity firm Grain Management, and is still subject to regulatory approval by the Federal Communications Commission (FCC). In addition, the FCC this week approved Starlink Mobile’s application for a second-generation satellite constellation, authorizing SpaceX to deploy 15,000 satellites worldwide optimized for the 2 GHz band. Following the announcement, shares of US telecom companies fell in after-hours trading, while SpaceX (SPCX.US) shares rose by over 1.7%.