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AST SpaceMobile Launches 3 Communications Satellites Into Orbit

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AST SpaceMobile (ASTS) said Wednesday its BlueBird 8, 9, and 10 satellites successfully launched into orbit from Cape Canaveral Space Force Station aboard a Falcon 9 rocket.

The 2,400-square-foot arrays are designed to enable cellular broadband data directly to ordinary smartphones at peak speeds of nearly 200 Mbps, the company said.

The system is designed to work with standard 4G and 5G mobile devices and integrate with terrestrial mobile networks, and the company has commercial agreements with nearly 60 mobile operators worldwide, AST SpaceMobile said.

Shares of the company were up 4.3% in Wednesday premarket trading.

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Thor Industries Keeps Quarterly Dividend at $0.52 a Share, Payable July 15 to Holders of Record July 1

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Sector Update: Consumer

Consumer stocks edged up late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) each fractionally higher.In corporate news, Rivian Automotive (RIVN) laid off hundreds of employees, or under 2% of its workforce, Tuesday, the Wall Street Journal reported, citing a company spokesperson. The layoffs affected workers in the electric-vehicle maker's service and customer organization, the report said. Rivian shares fell 4.3%.

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