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Globalstar Receives FCC Authorization for C-3 MSS System
Globalstar announced that the United States Federal Communications Commission, or FCC, issued an order granting Globalstar nationwide authority to operate its previously announced third-generation C-3 MSS System. With this authorization, Globalstar's C-3 satellites will be able to communicate with hundreds of millions of mobile earth terminals located in the United States, including direct-to-device connectivity to smartphones. This authorization also permits Globalstar's ground station antennas located in Alaska, Hawaii, Nevada, Texas, Florida and Puerto Rico to communicate with its C-3 satellites. Notified to the ITU by the Republic of France under the name AST-NG-C-3, the C-3 System will comprise 48 low Earth orbit satellites operating at an altitude of 1414 kilometers along with 6 in-orbit spares, supported by approximately 90 six-meter ground station antennas installed around the world to usher in a next generation of global D2D connectivity. The C-3 System will be commanded and controlled from Globalstar's dedicated satellite operations control centers in Toulouse, France and at Globalstar's corporate headquarters in Covington, Louisiana.
Globalstar Completes Ground Station Expansion in Nemea, Greece
Globalstar announces the completion of construction at its expanded ground station in Nemea, Greece. Commissioning of the new infrastructure is now underway. Construction at Nemea began in September 2025 and added three new six-meter tracking antennas and associated infrastructure to the three antennas Globalstar previously deployed at the site, doubling the size of Globalstar's ground station infrastructure at the Nemea teleport. The completed expansion represents tangible progress in Globalstar's global infrastructure program, which includes approximately 90 new tracking antennas across approximately 35 ground stations in 25 countries and territories.
Major Averages Decline as Bond Yields Surge
The major averages were broadly lower as a surge in sovereign bond yields arrives amid concerns around inflation and higher oil prices. Semiconductor weakness also appears to be weighing on the broader market, with big chip stocks such as Western Digital, SanDisk, Marvell, and Seagate are all slipping.Meanwhile, the Federal Reserve's July meeting minutes, due Wednesday, are another catalyst. After the recent weak labor-market data and relatively benign inflation reports, investors have been looking for evidence that policymakers are becoming more comfortable with eventual rate cuts. However, the renewed rise in oil prices and long-term Treasury yields could complicate that outlook.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Home Depotreportedand reiterated its outlook for FY26Baidureported downbeatTeslais preparing for an August launch of its Cybercab,KKRhas offered to acquire UGI Corporationfor $9B,Anthropic is seeking to expand its pre-IPO credit facility beyond $10B,2. WALL STREET CALLS:DA DavidsonDuolingoto Buy from NeutralBath & Body Worksto Buy at Citi on a favorable risk/rewardMizuhoNorwegian Cruise Lineto Neutral from OutperformCraig-HallumGlobalstarto Hold from BuyAutohometo Underperform at BofA3. AROUND THE WEB:Disney'sABC is suing the FCC, arguing that its efforts to challenge ABC's broadcast licenses and regulate The View are unconstitutional attempts to suppress speech, WSJ reportsGoldman Sachswill pay as much as $410M to buy LCN Capital Partners, a commercial real estate investor, Bloomberg reportsParamount Skydanceasked a U.S. judge to require states challenging the acquisition of Warner Bros.to post a $1.88B bond to address the costs caused by the delays, Reuters reportsCostcoplans to soon rollout Costco-branded Medicare plans, working with SCAN Group, WSJ saysInvestors are concerned about Mark Walter selling Carvana, Bloomberg reports4. MOVERS:Amylyxgains after announcing its Lucidity Phase 3 trialWeaveincreases after announcing itfor $7.40 per share in cashDuos Technologieshigher afterand backing its outlook for FY26Klarnafalls after, lowering its guidance for FY26, and announcing planned executive transitionsiQiyilower in New York after5. EARNINGS/GUIDANCE:Amer Sportsand raised its outlook for FY26, with CEO James Zheng commenting, "Our global momentum continued through the second quarter with over 30% revenue growth and strong operating margin expansion"Pony AI, with EPS beating consensusDocGoand narrowed its guidance for FY26Fabrinet, with EPS and revenue beating consensusYalla, with EPS lower year-over-yearINDEXES:The Dow fell 116.38, or 0.22%, to 53,343.40, the Nasdaq lost 355.20, or 1.33%, to 26,289.71, and the S&P 500 declined 53.30, or 0.69%, to 7,691.76.
Major Averages Decline as Bond Yields Surge
The major averages were broadly lower near noon as a surge in sovereign bond yields arrives amid concerns around inflation and higher oil prices. Semiconductor weakness also appears to be weighing on the broader market, with big chip stocks such as Western Digital, SanDisk, Marvell, and Seagate are all slipping.Meanwhile, the Federal Reserve's July meeting minutes, due Wednesday, are another catalyst. After the recent weak labor-market data and relatively benign inflation reports, investors have been looking for evidence that policymakers are becoming more comfortable with eventual rate cuts. However, the renewed rise in oil prices and long-term Treasury yields could complicate that outlook.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Home Depotreportedand reiterated its outlook for FY26Baidureported downbeatTeslais preparing for an August launch of its Cybercab,KKRhas offered to acquire UGI Corporationfor $9B,Disney'sABC is suing the FCC, arguing that its efforts to challenge ABC's broadcast licenses and regulate The View are unconstitutional attempts to suppress speech,2. WALL STREET CALLS:DA DavidsonDuolingo (DUOL) to Buy from NeutralBath & Body Worksto Buy at Citi on a favorable risk/rewardMizuhoNorwegian Cruise Lineto Neutral from OutperformCraig-HallumGlobalstarto Hold from BuyAutohometo Underperform at BofA3. AROUND THE WEB:Metaand BlackRock'snew $14bn data center in El Paso, Texas has secured hundreds of millions of dollars of insurance coverage, but the purchase leaves the facility exposed to billions of dollars in losses above those caps on insurance coverage, FT saysGoldman Sachswill pay as much as $410M to buy LCN Capital Partners, a commercial real estate investor, Bloomberg reportsThe Vineland Planning Board voted to approve Phase 2 of Nebius'sdata center already under construction in the South Jersey, NBC saysParamount Skydanceasked a U.S. judge to require states challenging the acquisition of Warner Bros.to post a $1.88B bond to address the costs caused by the delays, Reuters reportsCostcoplans to soon rollout Costco-branded Medicare plans, working with SCAN Group, WSJ says4. MOVERS:Amylyxgains after announcing its Lucidity Phase 3 trialWeaveincreases after announcing it will befor $7.40 per share in cashDuos Technologieshigher afterand backing its outlook for FY26Klarna (KLAR) falls after, lowering its guidance for FY26, and announcing planned executive transitionsiQiyilower in New York after5. EARNINGS/GUIDANCE:Amer Sports (AS)and raised its outlook for FY26, with CEO James Zheng commenting, "Our global momentum continued through the second quarter with over 30% revenue growth and strong operating margin expansion"Pony AI, with EPS beating consensusDocGoand narrowed its guidance for FY26Fabrinet, with EPS and revenue beating consensusYalla (YALA), with EPS lower year-over-yearINDEXES:Near midday, the Dow was down 111.93, or 0.21%, to 53,347.85, the Nasdaq was down 294.51, or 1.11%, to 26,350.40, and the S&P 500 was down 41.37, or 0.53%, to 7,703.69.
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