The FCC is prepping its upcoming auction of frequencies known as AWS-3, scheduled to begin on Nov. 13. The auction is expected to raise at least $10B and will include airwaves previously occupied by multiple federal users.
A total of 80 entities submitted initial applications, including Dish Network (NASDAQ:DISH) and three of the four largest U.S. wireless carriers - Verizon (NYSE:VZ), AT&T (NYSE:T) and T-Mobile (NYSE:TMUS).
Sprint (NYSE:S) is planning sit out on the auction to save firepower for a major sale of low-frequency airwaves scheduled for next year.
"About time to unveil the D and something else," tweets Tesla's TSLA Elon Musk with an accompanying photo displaying an Oct. 9 date.
Just what either of those entail is still unknown, although Musk has previously suggested that the third generation of Teslas would involve both the long-awaited "budget" sedan and an SUV smaller than the Model X.
With carriers turning cautious amid slowing subscriber growth and intense price pressure, R$5.8B ($2.4B) was spent during a closely-watched auction for Brazilian 4G spectrum, far less than the R$8B the government was hoping to raise.
America Movil (NYSE:AMX) bought a chunk of the airwaves, as did Telefonica's (NYSE:TEF) Vivo (NYSE:VIV) and Telecom Italia's (NYSE:TI) TIM Participacoes (NYSE:TSU). Oi (NYSE:OIBR), looking to strengthen its balance sheet follow the Portugal Telecom deal, decided to pass.
All 4 carriers have been the subject of M&A intrigue in recent months. Oi has reportedly been looking to merge with TIM, while TI is believed to have mulled a takeover of Oi. AMX says it's interested in partnering with Oi on a bid for TIM, and Telefonica has struck a deal to buy Brazilian wireline carrier GVT.
Railcar makers sold off today after railroad and oil lobbyists asked the government to delay the imposition of new rules that would require the use of safer railcars for hauling crude oil: GBX -10.2%, TRN -7.7%, ARII -5.9%, RAIL -4.2%.
Jim Cramer sees a potentially "disastrous" situation for the railcar companies, warning that extended battle could weigh on earnings expectations.
UBS analyst Eric Crawford says it should not have come as a surprise that the users of railcars want more time, as it indicates how important the transportation of crude by rail has become; it also shows there is not an oversupply of tank cars, and the lobbyists' position should lessen worries that railcar orders are at risk of being cancelled.
A Delaware jury has ruled Philips (PHG -2.2%) should pay Masimo (MASI +12.9%) $466M for infringing patents related to fingertip devices that measure blood oxygen and pulse rates. It also cleared Masimo of infringing a Philips patent.
Philips will almost certainly appeal the ruling, which has led Masimo shares to soar.
Masimo originally sued Philips in 2009. Philips has been arguing Masimo's patents are invalid due to the obviousness of the technology, and because the patent filings were poorly written.
The improved financial targets come as CP says it hit a number of its financial and operational objectives two years earlier than expected.
The four-year plan is the second long-term road map put forth by Hunter Harrison since he became CEO in 2012; Under Harrison, CP's operating ratio has improved to the mid-60% range and its share price has tripled.
Bio-Rad Laboratories (BIO +0.8%) Clinical Diagnostics Group President John Goetz promoted to COO responsible for the global operations of the business including Clinical Diagnostics and Life Science. Global ERP head John Hertia succeeds him as President of Clinical Diagnostics.
Ms. Shannon Hall promoted to EVP and President of Life Sciences from her former position of VP and GM of the Lab Separations Division of Life Sciences.