The combined company would have more than 127 million customers and could create more formidable competition for the No.1 and No.2 wireless players, Verizon Communications Inc and AT&T Inc , amid a race to expand offerings in 5G, the next generation of wireless technology. T-Mobile majority-owner Deutsche Telekom and Japan's SoftBank Group Corp , which controls Sprint, are considering an agreement that would dictate how they exercise voting control over the combined company, two of the sources said.
According to the restaurant chain, it will be closing down the 500 stores as it looks for the best locations for its business. Subway notes that it will also be relocating some of its stores in an effort to maximize its potential in the U.S. Subway doesn’t yet have a list of the 500 U.S. stores that it will be closing. It has been struggling to overcome its competition and closed over 800 U.S. restaurants in 2017.
Amazon is increasing the price of its Prime membership from $99 to $119 starting on May 11. The company just announced the price increase on its first quarter earnings call, attributing the spike to the service's rising costs, and noting that this was its first price hike since March 2014. Amazon Prime, which has more than 100 million paid members worldwide, gives members free two-day shipping on lots of products, as well as access to exclusive TV shows, movies, and music. New users will have to pay $119 for Prime starting on May 11, though existing Prime members will have until June 16 to renew their membership at the current $99 price-point. The move comes only a few months after Amazon raised
American Airlines passenger Brittany Oswell died after a flight on which she suffered an embolism and went into cardiac arrest, according to a wrongful death lawsuit filed against the airline by Oswell's husband and parents. Attorney Brad Cranshaw claims a doctor on the flight examined Oswell and asked for an emergency landing multiple times. The flight crew allegedly didn't follow the doctor's request, and Oswell later died at Baylor Medical Center in Dallas.
Ford Motor Co. said Wednesday it will stop investing in sedans in North America, bowing to U.S. drivers’ seemingly never-ending zest for crossovers and pickup trucks. Ford F, +2.61% shifted focus on “building a winning portfolio” of vehicles, by which it meant no more of its slow-selling sedans at least for North America. U.S. drivers have gravitated to SUVs and pickup trucks for years, thanks in part to these vehicles’ relative fuel economy improvements and price drops. Many car buyers also report enjoying the high-riding seating position of an SUV or pickup truck. “Ford realized it can’t be everything to everyone, and in today’s market that could be OK,” said Jessica Caldwell, an analyst with
With the market in gridlock, Goldman Sachs has identified 30 stocks with big upside potential. Goldman says trade tensions and rate decisions “[have] made the environment difficult for stock pickers.” But don’t panic! For the best alpha generation opportunities, the firm recommends picking stocks that are more correlated with company specifics rather than general market forces. As a result, all the stocks here have a “Strong Buy” Street consensus rating based only on the last three months.
Advanced Micro Devices, Inc. (NASDAQ:AMD) reported fiscal first-quarter earnings results on Wednesday after close. Bears had previously attacked AMD stock on its valuation, but when the company began churning out gains rather than losses, the rhetoric turned to cryptocurrency fears. Earnings per share of 11 cents came in 2 cents per share ahead of expectations.
AT&T (T) shares are down sharply, falling 2.38, or 6.8%, to $32.82 today amid investor displeasure with the company’s earnings report yesterday. The report showed weaker than expected margins in the company’s wireless business and greater than expected subscriber losses in its satellite TV operations. The dividend yield on AT&T shares has moved above 6% today as the stock approaches a 52-week low reached last November. AT&T is now ninth-highest-yielding stock in the S&P 500 index—and the highest-yielding mega-cap stock in the index. The current yield is now 6.1%. The drop in AT&T shares is weighing on shares of Time Warner (TWX), which are off $2.52 to $93.76, because nearly half the consideration
Matt Maddox, Wynn Resorts CEO, talks about the company's mixed quarter and his vision for the company following a turbulent start to the year after sexual misconduct allegations where leveled at then chief executive Steve Wynn.
In the latest blow to beleaguered blue chip General Electric Co., Moody’s Investors Service on Wednesday revised its outlook on the company’s ratings to negative, meaning it could downgrade it in the medium term. The move “reflects the added headwinds to restoring GE’s credit profile as a result of the $1.5 billion reserve that GE recorded in relation to the investigation by the Department of Justice of possible violations of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (”FIRREA”) by WMC, GE Capital’s discontinued mortgage business,” the rating agency said in a note. Read now: Are you smart or foolish to buy GE stock right now? Don’t miss: Investors shouldn’t get ahead
Who wants to buy U.S. Treasuries at these levels? With the longest selloff in a year stalling, Citigroup strategists Jabaz Mathai and Jason Williams say go long duration by purchasing 10-year notes at about 3 percent. The median estimate among 57 analysts surveyed by Bloomberg is for the 10-year rate to climb gradually for the rest of 2018, to 3.14 percent by year-end.
After Philip Morris International Inc. (NYSE:PM) delivered disappointing first quarter numbers last week, Altria Group Inc (NYSE:MO) shareholders were tacitly waiting to hear their serving of quarterly bad news on Thursday morning. Altria’s gotten very, very good at keeping more and more plates spinning though, shrugging off a smoking cessation movement that’s just never going to go away. For the quarter ending in March, Altria earned an operating profit of 95 cents per share on revenue of $6.1 billion, up from a year-earlier top line of just a bit less than $6.1 billion, when it posted a profit of only 73 cents per share.
Western Digital Corp. WDC just released its latest quarterly financial results, posting earnings of $3.63 per share and revenues of $5 billion. Currently, WDC is a Zacks Rank #1 (Strong Buy), but that could change based on today’s results. Estimates have increased by 14 cents for the current year over the last two months, and the Zacks Consensus sits at $14.05 per share.
Qualcomm Inc's earnings call on Wednesday showed just how far the company is willing to go to preserve one of its core business practices of taking a cut of the selling price of phones. Qualcomm gave two indications on Wednesday it was prepared to accept lower revenue in exchange for maintaining the business structure and avoiding future customer disputes. On Wednesday, Qualcomm said it would cap the phone price that is the basis of the revenue calculation at $400.
Lisa Su, Advanced Micro Devices CEO, discusses the company's big quarterly beat, growth in gaming and her outlook on blockchain.
Southwest Airlines Co. said a drop in travel bookings that followed its first passenger fatality could cost the carrier as much as $100 million. The slide in ticket sales will drive revenue from each seat flown a mile, a gauge of pricing power, down by 1 percent to 3 percent in the current quarter, the discount carrier said in a statement Thursday. Southwest blamed as much as two percentage points of the decline on weak sales after an engine exploded in flight April 17, piercing the plane and killing a passenger. The sober outlook contrasted with those of rival airlines, which have predicted increases in the revenue gauge of as much as 5 percent. Southwest also faces pressures from aircraft retirements
Unquestionably, Alibaba Group Holding Ltd (NYSE:BABA) has been a standout performer. After a choppy start against its initial public offering, BABA stock decisively asserted itself in 2017. Notably, last year was the first one for President Trump’s administration.
Intel Corp. gave a better-than-projected second-quarter sales forecast, proving that for now the computer industry just can’t quit its products. Under Chief Executive Officer Brian Krzanich, Intel is increasingly touting its efforts beyond personal-computer processors, a business that’s long provided the company with the majority of income. The drive to lessen its reliance on an industry that hasn’t expanded for six years has been bolstered by massive spending on the servers that are the basic component of the data centers that run the Internet.
Feeling the need to improve its store fleet amid intense competition in the sandwich industry, Subway is planning to close 500 U.S. locations this year, according to Bloomberg News. Subway restaurants are small in size, but ubiquitous. The chain is the largest in the U.S. by store count of any quick-service chain with nearly 26,000 locations, well above the 14,000 McDonald’s mcd restaurants in this country.
SAN JOSE, Calif. (AP) _ Cypress Semiconductor Corp. (CY) on Thursday reported first-quarter net income of $9.1 million, after reporting a loss in the same period a year earlier. The San Jose, California-based company
Earnings per share reported by Bristol-Myers Squibb Co for the first quarter of 2018 was 94 cents. This is up from its earnings per share of 84 cents from the same time last year. It also beat out Wall Street’s earnings per share estimate of 85 cents for the period.
Apple just announced the end of production on its AirPort line of base stations, a list that includes the AirPort Express, AirPort Extreme and AirPort Time Capsule. "We’re discontinuing the Apple AirPort base station products,” says the spokesperson.
China's smartphone sales saw a record decline in the first quarter of 2018, according to a new report by independent analyst company Canalys. According to the report published Thursday, smartphone shipments in China saw a 21 percent decline annually to 91 million units, with eight of the top 10 vendors experiencing a fall in sales. Apple saw itself displaced once again from its No.4 position by local brand Xiaomi, which was the brand that saw the biggest growth in shipments — by 37 percent to 12 million units sold. (Apple had edged ahead of Xioami by a slim margin in the fourth quarter of 2017, according to Canalys.) Top spot holder Huawei, including its Honor brand, also managed to grow shipments
AT&T T reported mixed first-quarter 2018 results, with the top and the bottom lines missing the respective Zacks Consensus Estimate despite solid prepaid phone gains, record low first-quarter postpaid phone churn and continued DIRECTV NOW subscriber growth
General Motors' first-quarter net income fell 60 percent from a year ago, and its shares fell even though the numbers beat Wall Street estimates. GM says earnings and revenue fell because shipments to dealers dropped as factories were closed to retool for new full-size pickup trucks. Shares of GM tumbled 2.4 percent to $37.18 in Thursday midday training.