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BusinessThe Street•16 minutes agoWhat a Merged Sprint and T-Mobile Would Look Like
Sprint (S) Chairman Masayoshi Son has had his eye on T-Mobile (TMUS) for five years or more, and could finally realize his goal of creating a revved up competitor to AT&T (T) and Verizon (VZ) . The carrier might bear a stronger resemblance to T-Mobile than to Son's Sprint, however. "I would look at is almost as a super T-Mobile that is within striking distance of AT&T and Verizon," said Roger Entner of wireless consultancy Recon Analytics. "Knowing [T-Mobile CEO] John Legere's mantra of 'we will not stop' I don't think he would relent." T-Mobile parent Deutsche Telekcom AG reportedly aims to have control of the merged company. If it ends up with control, Entner says to expect the surviving telecom
BusinessThe Street•16 hours agoAmazon Has the Worst-Looking Chart on the Planet
From a technical perspective, there isn't a whole lot more that could be going wrong on the Amazon (AMZN) weekly chart. A cluster of bearish indications in time and price have weighed on the stock the last several months. Key support in the $950 area is breaking down at this point in the Monday session. That could trigger an intermediate-term move that could take the stock down 20% from its July high. Let's catalog the technical damage and look for potential areas of support on the downside. View Chart » View in New Window » Amazon had been trading in a rising triangle pattern for the last two years and last week a bearish engulfing candle formed that broke the triangle uptrend line on a closing
- BusinessBloomberg•21 hours ago
Permian ‘Super Basin’ Holds Up to $3.3 Trillion in Untapped Oil
The Permian Basin of Texas and New Mexico holds 60 billion to 70 billion barrels of yet-to-be pumped crude oil, according to a study by IHS Markit Ltd. The Permian region’s so-called recoverable resources would be enough to supply every refinery in the U.S. for 12 years and have a market value of about $3.3 trillion at current prices for West Texas Intermediate oil, the domestic benchmark. “The Permian Basin is America’s super basin in terms of its oil and gas production history and for operators it presents a significant variety of stacked targets that are profitable at today’s oil prices,” Prithiraj Chungkham, director of unconventional resources for IHS, said in the statement.
