T-Mobile, Sprint close to reaching a deal – Reuters
Reuters is reporting Sprint (S) and T-Mobile (TMUS) are close to reaching a deal. If the two companies reach an agreement, the merger would combine the third and fourth largest U.S. wireless carriers. According to sources who spoke with Reuters, T-Mobile majority owner Deutsche Telekom will own a majority stake. The deal is expected by the end of October.
Finish Line shares rebound
Finish Line (FINL) shares are rebounding in mid-day trading after the stock initially tumbled following disappointing sales and weak guidance. The company posted a 4.5% drop in comparable sales for the second quarter and said it expects sales to fall in the range of 3% to 5% for the remainder of the fiscal year. Finish Line CEO Sam Sato said the retailer is “planning for a challenging retail environment in the near-term” and said its second-quarter results were “shaped by a very promotional marketplace for athletic footwear.” Finish Line shares were up 7.8% as of 11:15 a.m. ET Friday after falling to a low of $8.14 in early trading.
New Apple products hit store shelves
Apple (AAPL) users are getting their hands on the iPhone 8, iPhone 8 Plus, Apple Watch 3 and Apple 4K TV today as the products hit store shelves and begin shipping. The hype doesn’t seem too strong though, with lines and crowds smaller than previous years. Many consumers are waiting to see what Apple does about its new watch following reports this week that the device was having cellular connectivity issues. Apple’s stock is down 1.2% as of 11 a.m. ET.
Walmart tests in-home delivery service
Walmart (WMT) is partnering with smart lock maker August Home to test in-home delivery of packages and groceries to customers with August smart home devices. The home owners will give delivery drivers a one-time pass code allowing them to enter their homes. The service is being tested in Silicon Valley with select August Home customers.