$TU

AST SpaceMobile (ASTS) rose 3% to $60.14 after U.S. and Japan backed its Rakuten partnership and TELUS completed a test. Planet Labs (PL) gained 4% to $18.07, Rocket Lab (RKLB) up 2% to $74.55. ASTS is down 17% YTD, awaiting a launch schedule.

TRAI proposed a framework to support satellite and direct-to-device services in India, aiming to boost investment and connectivity. TELUS and AST SpaceMobile completed a test for satellite-to-smartphone connectivity, targeting remote areas. MTN Ghana invested $202 million in spectrum licenses for 5G expansion, securing 700 MHz and 3 GHz bands for broader coverage.

TELUS Communications and AST SpaceMobile completed their first integration test, enabling smartphones to connect directly to satellites. This collaboration aims to extend cellular broadband coverage to remote areas in Canada, with services expected to launch within a year. The technology will allow TELUS customers to access data, voice, and text services beyond traditional cell towers, enhancing emergency services and connectivity for remote workers.

Ooma, Inc. is focusing on AI and POTS growth, with TELUS selecting AirDial for Canadian deployments. AI products show early success, with Pro Plus doubling take rates. The company targets $333M revenue and $48M adjusted EBITDA for the fiscal year, aiming to double revenue and reach 20-25% EBITDA margins long-term.

Telus (T) stock rose 2.8% to CA$11.90, rebounding from a 52-week low, ahead of its first reduced dividend payment. The company's restructuring plan aims for CA$1.8B in free cash flow this year and a net debt-to-EBITDA ratio below 3.0 by 2028. The broader market rally also supported the move.

S&P Global Ratings revised Telus Corp.'s outlook to stable from positive, citing higher leverage expectations. The company's new management lowered its 2026 guidance, including flat to 2% declining revenue and higher capital expenditure. S&P expects Telus' leverage to reach 4.0x by 2026, up from previous assumptions. The rating agency also tightened the downside leverage threshold to 4.0x due to competitive pressures in the Canadian telecom market.

Telus Corp. CEO Victor Dodig announced plans to refocus on core telecom and data centre businesses, divesting from non-core sectors like healthcare. The company is in talks to sell parts of Telus Health and has halted acquisitions. Dodig aims to improve profitability, customer service, and invest in fibre networks and data centres, with further details expected in November. Telus also reduced its dividend and adjusted guidance in July.

TELUS Corporation's stock has fallen to its lowest level since 2017, dropping from $25.6 to $12.6. The company cut dividends and eliminated its DRIP plan to preserve cash, reporting a net loss of $1.83 billion due to a $2.1 billion goodwill impairment in its Digital division. Operating expenses rose 32%, while revenue fell 2%. Management plans to spend $2.6 billion this year. Technical analysis suggests further declines.

TelevisaUnivision (TU) seeks a $32.7 million default judgment against pirate IPTV operators, including Thunder TV and Tele Latino, for copyright and trademark infringement. The broadcaster obtained a preliminary injunction in Florida, which has already expanded to cover hundreds of domains and intermediaries. TU is requesting a permanent injunction with self-expanding powers to add new defendants and services. The case is pending before Judge Kathleen Williams.

Telus is suing a former employee for over $1 million, alleging misuse of company credit cards to purchase 2,500 items, including appliances and electronics, from 2020 to 2023. The employee was terminated in August 2023, and the company is seeking damages. The allegations are unproven in court.