|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||122.90 - 124.30|
|52-week range||106.76 - 133.93|
|PE ratio (TTM)||24.89|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
America’s second-biggest carrier, AT&T (T), has been on an acquisition spree lately. After its recent acquisition of media giant Time Warner for $85 billion, it acquired ad-tech company AppNexus for $2 billion.
Last month, the board of Twenty-First Century Fox (FOXA) decided to go ahead with the Walt Disney Company’s (DIS) deal to sell most of its media and entertainment assets for $71.3 billion. The move has put rival bidder Comcast (CMCSA) under pressure to either hike its bid or move away from the deal. Disney initially made an all-stock bid of $52.4 billion in December 2017 and then raised its offer to $71.3 billion in cash and stock on June 20.
Netflix (Xetra: 552484 - news) shares plunged in after-hours trading in New York after the company's latest results signalled it was facing stronger competition for customers. The video streaming service's stock lost 14% of its value after it confirmed that global subscription growth from April to June had missed management's targets by more than one million. It meant that Netflix, whose shares have more than doubled in value in the year to date amid a strong run for subscriber growth, was on course for the biggest drop in its market value in four years ahead of the stock exchange opening on Tuesday.
Netflix (Xetra: 552484 - news) shares plunged in after-hours trading in New York after the company's latest results signalled it was facing stronger competition for customers. The video streaming service's stock lost 14% of its value after it reported that world subscription growth during the April to June quarter came in more than one million down on what the market was expecting. It meant that Netflix, whose shares have more than doubled in value in the year to date amid a strong run for subscriber growth, was on course for the biggest drop in its market value in four years ahead of the market open on Tuesday.
Now let’s take a look at T-Mobile’s (TMUS) technical indicators and compare them to those of its rivals in the US telecommunications space. On July 11, T-Mobile stock was trading at $60.18, ~0.2% above its 20-day moving average of $60.08, ~3.4% above its 50-day moving average of $58.20, and ~0.1% above its 100-day moving average of $60.15.
On July 11, T-Mobile’s (TMUS) stock price closed at $60.18. The telecommunications company’s stock price has fallen ~1.7% in the trailing year.
Netflix Inc. has broken HBO’s 17-year streak of leading TV networks in Emmy nominations. For the first time in Emmy history, Netflix (NFLX) led all other networks and platforms in award nominations. The streaming giant nabbed 112, compared to HBO’s 108.
The news last Thursday that the Department of Justice had decided to appeal the June 12 decision to allow AT&T (T) to merge with Time Warner sent AT&T shares skidding some 1.7% on Friday. Unless something dramatic changes, this appeal of an embarrassing defeat for the DOJ looks more like political posturing than an existential threat. For one thing, the DOJ has said nothing about what it will argue in its appeal.
JPMorgan Chase second-quarter profits rise by 18 percent from a year ago, as the bank continues to benefit from higher interest rates and a lower tax bill following last year's passage of President Donald ...
AT&T Inc. Chief Executive Randall Stephenson said his company won’t alter its plans for running Time Warner’s media assets despite a Justice Department appeal of the court decision that allowed the transaction. “We think the likelihood of this thing being reversed or overturned is really remote,” Mr. Stephenson told CNBC Friday in an interview at Allen & Co.’s annual Sun Valley, Idaho, media conference.
The Justice Department wants to keep fighting AT&T’s merger with Time Warner, and maybe it feels it must save face after the singeing rebuke by federal Judge Richard Leon last month. Because the vertical merger combines two businesses that don’t directly compete, the government must prove the deal would harm consumers and reduce competition. AT&T argued that marrying content with targeted advertising would help it compete with vertically integrated tech giants like Google and Facebook, which gobble up 60% of digital ad revenues.
For a moment, it was the biggest antitrust suit in 20 years, a high-stakes attempt to block an $85 billion mega-deal that would create a media and telecommunications giant. Now the merger that President Donald Trump has so publicly opposed -- the marriage of AT&T Inc. and Time Warner Inc., the home of CNN -- is once again in the sights of Trump’s Justice Department. The turnabout underscores fundamental questions about antitrust enforcement in the Trump era that have lingered ever since the AT&T case last year, including the big one: Could this pro-business administration, which has given corporate America lower taxes and looser regulation, tighten the screws on certain mergers?
Shares of AT&T fell 1.7 percent to close at $31.67 on Friday after U.S. officials signalled they would appeal a federal judge's approval last month of the $85.4 billion deal. Speaking on CNBC, Stephenson said the original court decision was well reasoned. The merger, first announced in October 2016, was opposed by U.S. President Donald Trump.
Shares of AT&T fell 1.7 percent to close at $31.67 on Friday after U.S. officials signaled they would appeal a federal judge's approval last month of the $85.4 billion deal. Speaking on CNBC, Stephenson said the original court decision was well reasoned. The merger, first announced in October 2016, was opposed by U.S. President Donald Trump.
Stocks that moved substantially or traded heavily on Friday: Wells Fargo & Co., down 67 cents to $55.36 The bank's profit disappointed investors as a scandal over fraudulent accounts continued to affect ...
The news on Thursday afternoon that the Department of Justice had decided to appeal the June 12 decision to allow AT&T to merge with Time Warner sent AT&T shares skidding some 1.4% in late trading, and another 2% by midday Friday. The possibility that the government would suddenly reverse an $85 billion merger that had long been stalled by litigation, was both head-scratching and a little shocking. But investors shouldn’t sweat this one too much—and not just because AT&T (T) CEO Randall Stephenson said not to worry. Unless something dramatic changes, this appeal of an embarrassing defeat for the DOJ looks more like political posturing than an existential threat.
The Trump administration renewed its battle against the AT&T-Time Warner deal. It's a big gamble for the Justice Department https://bloom.bg/2uknUfN #tictocnews (Source: Bloomberg)
Judge Kavanaugh has opposed government efforts to block mergers and with his nomination he will stop hearing cases on the U.S. Court of Appeals for the D.C. Circuit, where the appeal will be heard. In the two most prominent merger appeals over the last 10 years, when Anthem was trying to merge with Cigna and when Whole Foods sought to buy Wild Oats, Judge Kavanaugh ruled against the government’s case to block the deals.
The way antitrust law works in the U.S. is that when two companies want to merge, they file a notice with the authorities, and the authorities have some time to figure out whether to challenge the merger. Because while it is a big disruptive pain to abandon a merger agreement that has been signed and announced, it is far more disruptive to abandon a merger that has already been closed. The selling shareholders have been cashed out, the legal entities have been merged, the stationery has been changed, the trade secrets have been shared, the egg can’t really be unscrambled.
In the previous article, we examined Wall Street analysts’ latest recommendations for the top telecom (telecommunications) stocks. Now let’s take a look at the technical indicators of the top telecom stocks.
Friday, July 13: Senators widely expect Trump SCOTUS nominee Brett Kavanaugh to be pro-guns; DOJ is appealing the approval of the AT&T-Time Warner merger; McDonalds and other chains agree to kill off “no-poaching” jobs rules. Yahoo Finance’s Dan Roberts ushers you into the weekend.