5.503 +0.02 (0.34%)
After hours: 4:11PM EST
|Bid||5.480 x 94500|
|Ask||5.490 x 81400|
|Day's Range||5.430 - 5.630|
|52 Week Range||5.420 - 9.650|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|
Sprint Corp.'s primary owner may end its buying spree soon, as it nears its 85 percent ownership threshold. Since it began buying up Sprint shares (NYSE: S) on Nov. 6, SoftBank Group Corp.'s stake in the company has increased to 84.77 percent . SoftBank previously stated it does not intend to pass 85 percent , which could require SoftBank to buy out Sprint.
SoftBank Group Corp.’s recent purchases of Sprint Corp. stock are nearing half a billion dollars. Sprint’s primary owner began gobbling up shares after Nov. 6, when it stated that it would invest more in the company as Sprint (NYSE: S) and T-Mobile US Inc. formally ended merger talks. Since then, Japan-based SoftBank has bought up more than 72.9 million shares of Sprint, for a total of $425.82 million.
Sprint Corp (NYSE:S) finds itself actively struggling for its survival. Sprint remains a weak company in one of the country’s most competitive industries. Competition with the likes of Verizon Communications Inc. (NYSE:VZ), AT&T Inc. (NYSE:T), and T-Mobile US Inc (NASDAQ:TMUS) has left the company with dwindling market share and weak pricing power.
Sprint Corp.’s newest executive hire said the company is well prepared for the Internet of Things through its relationship with SoftBank Group Corp. Ivo Rook, Sprint’s senior vice president of IoT, joined the company Jan 1. In his previous role, he oversaw Vodaphone’s $1 billion IoT business.
There’s no denying Snapchat, owned and operated by parent company Snap Inc (NYSE:SNAP), is a clever and fun little app that lets users embellish and send pictures to their friends. Rival Facebook Inc (NASDAQ:FB) was first, and to the extent Facebook alone wasn’t enough to compete with Snapchat head-to-head, Facebook’s acquisition of Instagram in 2012 still put it out in front of Snapchat. In the meantime, Facebook has essentially copied Snapchat’s every feature as it was added, never letting the younger rival even have a chance of gaining any real market share.
Previously in this series, we learned about AT&T’s (T) anticipated prepaid customer net additions in 4Q17. In this part, we’ll take a look at AT&T’s churn rate in its combined domestic wireless operations. Wall Street analysts expect AT&T’s postpaid phone churn rate to increase significantly due to growing competition in the postpaid space bringing strong promotional offers from competitors.
Previously, we discussed expectations for AT&T’s (T) postpaid phone customer additions in 4Q17. Wall Street analysts expect AT&T to see 400,000 prepaid customer net additions in 4Q17 due to intense competition in the prepaid market. In 3Q17, AT&T gained a total of 324,000 prepaid subscribers, compared with 304,000 in 3Q16, with strength coming from the Cricket and AT&T Prepaid brands.