Companies to Watch: Barnes & Noble going private, Facebook overhauls teams, AT&T reviews streaming services
Here are the companies Yahoo Finance is watching today.
There's a new chapter for the future of Barnes & Noble (BKS). New York Hedge Fund, Elliott Management, is buying the book store chain and taking it private. The deal is worth $683 million, including debt. The book store has lost a billion dollars in market value over the last five years. Expect to see the deal close some time in the third quarter.
Facebook (FB) is overhauling its defense team as it takes on increased anti-trust threats. Over the past year, the social network has changed the leadership of its legal, policy and communications teams. Some analysts believe the move will help the company, since these employees were not at Facebook during the Cambridge Analytica data breach scandal. Facebook has been under increased scrutiny by the FTC and lawmakers over security and privacy concerns.
AT&T's (T) Warner Media is in talks to create its own streaming service. The new streaming service is expected to include HBO, sister channel Cinemax and its wide collection of Warner Brothers TV series and movies. The cost is between $16 and $17 a month. The beta form of the service will roll out later this year.
It looks like Snapchat (SNAP) is back in favor with the "in-crowd." Shares of the social media company's parent, Snap, are up 180% from their December lows. Pivotal Research upgraded Snap to a Buy and raised its price target to $17.25 a share. This comes as more teens engage with Snapchat's augmented reality features and growth in users.
Amazon (AMZN) says it plans to spend billions of dollars on building its network of thousands of satellites to provide broadband Internet service, according to CEO Jeff Bezos. Bezos said the project is "a very good business for Amazon” because it requires a big capital expenditure. He added that broadband is quote "close to a fundamental human need."
