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In the world of wireless communication, first to market often means success. Just look at the iPhone and its quantum leap forward for smartphones. All of a sudden, keyboards disappeared, leaving more real estate for screen space. Soon, every phone maker followed suit and the smartphone as we know it was born. Being faster and more efficient than the competition bodes well for any company, which is why Verizon was so enthusiastic to beat AT&T in a bidding war for Straight Path. The company’s huge supply of 28 and 39 GHz millimeter wave spectrum used in mobile communications would give a massive head start to the winner in the race to 5G. But lost in all the uproar is the real winner in this bidding war; T-Mobile…..
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SAUDIS REPORTEDLY PLAN TO INVEST $40 BILLION IN U.S. INFRASTRUCTURE
Saudi Arabia plans to make a $40 billion investment in one of President Donald Trump's pet projects, U.S. infrastructure development, according a media report. The announcement may coincide with Trump's visit to the kingdom next week, sources familiar with the matter told Bloomberg News. However, they cautioned that no final decision had been made and the announcement could be delayed. Saudi Arabia has been telegraphing its eagerness to invest in the United States for months.
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ACTING FBI DIRECTOR MCCABE CONTRADICTS TRUMP IN SENATE TESTIMONY THURSDAY
President Donald Trump on Thursday called ousted FBI chief James Comey a “showboat” and “grandstander,” but its acting leader contradicted the president and promised the agency's probe into possible Trump campaign ties to Russia would proceed with vigor. Trump, facing Democratic accusations that he fired Comey on Tuesday to hinder the FBI investigation into alleged meddling by Russia in the 2016 U.S. presidential election, said he would have taken the action even without a recommendation to do so by the two top Justice Department officials. That ran counter to previous administration explanations of Comey's dismissal. The Republican president also gave further details of his account that Comey informed him three times that he was not under investigation.
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Closing Bell
– Thursday, May 11th
Markets Dip DOWN on Retail Woes
Big Insider Trades
– Comcast Corp. (CMCSA) Senior EVP Stephen Burke Sells $10m
– Opko Health, Inc. (OPK) CEO Phillip Frost MD Buys $7.8m
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