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Good morning. Today is Thursday, May 16th. I'm Julie Morgan.

AT&T partners with AST Space Mobile.

NEO is making changes based on new U.S. tariffs,

and Peloton is looking to refinance its debt.

AT&T said on Wednesday that it had entered into a deal with satellite network company

AST Space Mobile.

The goal is to bring satellite internet connectivity to phones, providing a potential

alternative to SpaceX's Starlink.

Shares of AST Mobile surge 60% and after hours trading on Wednesday.

Pre-market today, ASTS is up 43%.

The Commercial Agreement will provide a space-based broadband network direct to everyday cell phones and last until 2030.

AT&T has been working with AST since 2018 to build the technology.

AST Space Mobile plans to deliver its first commercial satellites to Cape Canaveral for

launch into low-Earth orbit this summer.

These initial five satellites will enable the satellite to cell phone service.

AT&T is an investor in AST Space Mobile along with Google and Vodafone.

Of course, AT&T is not alone in its efforts to bring satellite internet connectivity to phones in the

U.S. T-Mobile has a similar deal with SpaceX.

Verizon also has a deal with Amazon's

low-Earth Orbit Satellite Network program,

and Apple has been offering satellite

...