26.97 0.00 (0.00%)
After hours: 4:48PM EDT
|Bid||26.97 x 800|
|Ask||28.22 x 1100|
|Day's Range||26.58 - 27.41|
|52 Week Range||14.49 - 27.74|
|Beta (3Y Monthly)||1.01|
|PE Ratio (TTM)||61.72|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The strategic deal will offer Optimum and Suddenlink users of Altice (ATUS) an immediate complimentary access to CuriosityStream content.
Today we will run through one way of estimating the intrinsic value of Altice USA, Inc. (NYSE:ATUS) by estimating the...
Simcoe Capital Management was founded in 2003 by Jeffrey Jacobowitz. He remained the fund’s Managing Partner and Portfolio Manager, and is also the manager and founder of Simcoe Partners. Mr. Jacobowitz holds a BA in Economics from the University of Maryland (UMBC). Before launching his own fund, Jacobowitz worked as a senior accountant at Deloitte & […]
(Bloomberg) -- Altice USA Inc., the cable-television provider that spun off from Patrick Drahi’s Altice NV last year, is no longer in talks to sell a minority stake in its Lightpath fiber unit to Stonepeak Infrastructure Partners, according to people with knowledge of the matter.Shares of Altice USA reversed earlier gains on Thursday, falling as much as 1.5%. The company had a market value of $17.4 billion in trading at 1:26 p.m. in New York. The shares had been up more than 60% over the past 12 months.Talks between Altice USA and the U.S. infrastructure firm centered on a deal that would value the unit at about $3 billion, Bloomberg reported on July 24. The transaction has fallen apart, said the people, who requested anonymity because the discussions were private. A representative for Altice USA declined to comment while a representative for Stonepeak didn’t respond to requests for comment.The potential deal was being discussed as Altice USA attempts to streamline its portfolio of businesses while sparking growth in broadband and video services.“We continue to review our strategic alternatives,” Chief Executive Officer Dexter Goei said last week on an earnings conference call, describing the process as an “opportunistic” situation. “This is not a must-do in all respects,” he added.Goei had previously said the company could use proceeds from a sale to repurchase shares or pay down debt. Altice USA had about $24 billion in debt as of June 30, according to data compiled by Bloomberg.Lightpath, with a network of about 375,000 miles of fiber, provides internet, telephone, data transport and other services to businesses in and around New York City, according to Altice USA’s annual report.(Updates with shares falling in second paragraph.)To contact the reporters on this story: Gillian Tan in New York at email@example.com;Gerry Smith in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Alan Goldstein at email@example.com, Josh Friedman, Dan ReichlFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
CBS Corp. said Monday that it has reached a content carriage deal with Altice USA Inc. to carry CBS content on Altice's Optimum and Suddenlink cable services. Financial terms of the agreement were not disclosed. The "comprehensive, multi-year" pact covers the carriage of Showtime, CBS Sports Network, Pop TV and Smithsonian Channel, and the re-transmission consent for CBS-owned stations. The deal also allows Altice to offering Showtime digital streaming to its cable customers. CBS's stock rose 0.3% in morning trading and Altice USA shares tacked on 0.1%. Over the past three months, shares of CBS have gained 0.5% and Altice have surged 11.9%, while the S&P 500 has edged up 2.7%.
These days it's easy to simply buy an index fund, and your returns should (roughly) match the market. But investors...
(Bloomberg) -- Altice USA Inc., the cable television provider that spun off from Patrick Drahi’s Altice NV last year, is in advanced talks to sell a minority stake in its Lightpath fiber unit to Stonepeak Infrastructure Partners, according to people familiar with the matter.The New York-based private equity firm is nearing a deal that would value the unit at about $3 billion, said the people, who asked to not be identified because the matter isn’t public. A transaction could be announced as early as next week, one of the people said. Altice USA would keep a majority stake. No decision has been finalized and talks could still fall through, the people said.Representatives for Altice USA and Stonepeak declined to comment.Altice USA rose 1% to $26 at 2:31 p.m. in New York trading, giving the company a market value of about $17.3 billion. The shares have risen about 55% in the past year.The potential deal comes as Altice USA looks to streamline its portfolio of businesses while sparking growth in broadband and video services.Altice USA may use proceeds from a potential sale of Lightpath to repurchase shares or pay down debt, Chief Executive Officer Dexter Goei said in a conference call discussing earnings in May. The company had about $23.5 billion debt at March 31, according to data compiled by Bloomberg.Lightpath, with a network of about 375,000 miles of fiber, provides Internet, telephone, data transport and other services to businesses in and around New York City, according to Altice USA’s annual report.Stonepeak, founded in 2011, invests in power, utilities transportation and communications businesses, according to its website.The firm closed its most recent fund with $7.2 billion in 2018.To contact the reporters on this story: Kiel Porter in Chicago at firstname.lastname@example.org;Gillian Tan in New York at email@example.com;Gerry Smith in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Liana Baker at email@example.com, ;Alan Goldstein at firstname.lastname@example.org, Matthew Monks, Michael HythaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Altice USA (ATUS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Altice USA (ATUS) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank 2 (Buy).
Altice USA, Inc. (NYSE:ATUS) saw a double-digit share price rise of over 10% in the past couple of months on the NYSE...
(Bloomberg) -- Dish Network Corp. is in talks to pay at least $6 billion for assets that T-Mobile US Inc. and Sprint Corp. are unloading to win regulatory approval for their merger, according to people familiar with the matter.Dish could announce a deal as soon as this week for assets including wireless spectrum and Sprint’s Boost Mobile brand, said the people, who asked to not be identified because the matter isn’t public. The deal hasn’t been finalized and talks could still fall through, said the people.The potential divestitures are aimed at appeasing the Justice Department, which wants T-Mobile and Sprint to sell enough assets to ensure that the U.S. maintains at least four viable wireless players.Representative for Dish and the Justice Department declined to comment. Representatives for T-Mobile and Sprint didn’t respond to requests for comment.Dish rose 1.9% to $39.74 at 1:16 p.m. in New York trading, giving the Englewood, Colorado-based company a market value of about $18.6 billion. Sprint gained about 2.3% while T-Mobile rose 1.3%.T-Mobile agreed to buy Sprint in April 2018 for $26.5 billion, betting that together the carriers can build a next-generation wireless network to better compete with industry leaders Verizon Communications Inc. and AT&T Inc.Dish, co-founded by billionaire Charlie Ergen, had been on a shortlist of bidders for T-Mobile and Sprint assets favored by the Justice Department, people familiar with the matter said this month. Charter Communications Inc. and Altice USA Inc. were also on the list.T-Mobile and Sprint have already promised to sell Boost to get approval from the Federal Communications Commission. They also have to win over the Justice Department, which is concerned about the merger reducing the number of major U.S. wireless carriers to three.The companies are negotiating with the Justice Department after nine states and the District of Columbia sued to block the deal last week on antitrust grounds.(Updates companies’ share prices in fifth paragraph; adds background in seventh.)To contact the reporters on this story: David McLaughlin in Washington at email@example.com;Scott Moritz in New York at firstname.lastname@example.org;Nabila Ahmed in New York at email@example.comTo contact the editors responsible for this story: Elizabeth Fournier at firstname.lastname@example.org, ;Sara Forden at email@example.com, ;Nick Turner at firstname.lastname@example.org, Matthew MonksFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Shares of Kinder Morgan Inc. slipped 0.2% in premarket trade Monday, after the oil and gas pipeline operator was downgraded at Stifel Nicolaus, citing concerns over valuation. Analyst Selman Akyol cut his rating to hold, after being at buy for more than three years. He kept his stock price target at $22, which is 7.2% above Friday's closing price; Stifel defines a hold rating as a total return of -5% to +10% over the next 12 months. The stock has soared 33.5% year to date, while the S&P 500 has gained 15%. Akyol said he continues to view Kinder Morgan favorably, given its more moderate leverage, high coverage and dividend growth, but he said the valuation already reflects the positive catalysts. Kinder Morgan's dividend yield at Friday's closing price was 4.87%, which was above the SPDR Energy Select Sector's payout of 3.39% and the S&P 500's implied yield of 1.99%, according to FactSet.
Shares of Sotheby's soared 60% toward an 11-month high in premarket trading Monday, after the auction house announced a deal to be acquired by BidFair USA, which is owned by telcom and media entrepreneur and art collector Patrick Drahi, in a deal valued at $3.7 billion. Under terms of the deal, Sotheby's shareholders will receive $57 in cash for each Sotheby's stock they own, which is 61% above Friday's closing price of $35.39 and represents a market capitalization of $2.66 billion. Drahi is Chairman and controlling shareholder of Altice USA Inc. . The deal is expected to close in the fourth quarter. "This acquisition will provide Sotheby's with the opportunity to accelerate the successful program of growth initiatives of the past several years in a more flexible private environment," said Sotheby's Chief Executive Tad Smith. "It positions us very well for our future and I strongly believe that the company will be in excellent hands for decades to come with Patrick as our owner." Sotheby's stock has dropped 40% over the past 12 months through Friday, while the Dow Jones Industrial Average has gained 4%.
The acquisition of Cheddar perfectly complements Altice's (ATUS) hyperlocal and global news offerings, while Ciena's (CIEN) second-quarter fiscal 2019 earnings improve year over year.
Hedge funds and other investment firms that we track manage billions of dollars of their wealthy clients' money, and needless to say, they are painstakingly thorough when analyzing where to invest this money, as their own wealth also depends on it. Regardless of the various methods used by elite investors like David Tepper and David […]
Through the acquisition of ROCCAT, Turtle Beach (HEAR) aims to expand from being the leader in console gaming headsets into becoming a top gaming accessory brand for all platforms.