T-Mobile, Sprint negotiations continue
Negotiations between T-Mobile (TMUS) and Sprint (S) reportedly continue, and the two wireless giants are expected to reach an agreement by mid November, according to CNBC. Wall Street was initially expecting a deal between T-Mobile and Sprint to be announced during their earnings results this month. Bloomberg reported last week that the two companies may delay the announcement of an all-stock merger. T-Mobile released third-quarter earnings ahead of the bell today that beat profit expectations and issued strong full-year guidance. Sprint is scheduled to report earnings Wednesday, October 25.
Hasbro warns holiday sales could take a hit
Hasbro (HAS) topped third-quarter earnings expectations, but the stock’s under pressure after warning that the Toys ‘R’ Us bankruptcy could hit holiday sales. The toymaker now expects fourth- quarter revenues to increase in a range of 4% to 7%, short of the 11% growth analysts’ were expecting. Hasbro shares were last trading down 8.3% at $90.05 a share
AT&T, Time Warner extend deadline for merger
AT&T (T) and Time Warner (TWX) have extended the deadline “for a short period of time” as the companies wait for regulatory approval for their pending $85 billion merger. In a filing with the SEC, AT&T said it has obtained all required merger approvals outside of the United States. AT&T did not reveal how long the extension was for but said that it still expects the transaction to close by the end of the year.