|Bid||7.47 x 28000|
|Ask||7.48 x 800|
|Day's Range||7.16 - 7.50|
|52 Week Range||5.28 - 7.90|
|Beta (3Y Monthly)||0.34|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 30, 2019 - Aug 5, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||6.27|
Jun.18 -- 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. Bloomberg's Nabila Ahmen has more on "Bloomberg Markets: The Close."
Southwest Airlines, Dish, CBS, PG&E and Tesla are the companies to watch.
NEW YORK, June 19, 2019 -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of Sprint Corporation,.
Investment bank Goldman Sachs Group Inc , which is advising T-Mobile, the third largest U.S. wireless carrier, on selling prepaid brand Boost Mobile as part of the company’s concession to gain regulatory approval to buy Sprint Corp, is expected to send out books to prospective buyers in two weeks, one source familiar with the matter said. While satellite television provider Dish Network remains the front-runner to acquire the Boost assets, Goldman has told prospective buyers as late as Tuesday that it is preparing for an upcoming auction of Boost. Another source characterized the process being run by Goldman as moving slowly.
LOS ANGELES, CA / ACCESSWIRE / June 19, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Sprint Corporation ("Sprint" or "the Company") (NYSE: S) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's shares between January 31, 2019 and April 16, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before June 21, 2019.
On Friday, Sprint (NYSE:S) and T-Mobile U.S. (NASDAQ:TMUS) stocks jumped higher on reports that the Department of Justice would give the green light to their merger. Sprint stock rallied toward $7. TMUS stock initially ripped higher too, although it's cooled off already. Both stocks moved higher on Tuesday on news that Dish Network (NASDAQ:DISH) could be involved in the asset sale that's needed to get the deal done.Source: Shutterstock Many investors are wondering what Sprint stock price and T-Mobile stock will do going forward. * 7 Value Stocks to Buy for the Second Half The argument for a Sprint/T-Mobile tie-up is that the new entity will be better able to compete with Verizon (NYSE:VZ) and AT&T (NYSE:T). For ages, VZ and T have had a tight grip over the wireless sector. Because of their dominance, it's easy to see why a stronger third player in the telecom space would benefit consumers. That said, one can see why going from four competitors to three is worrisome to regulators.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut the Justice Department wants to be more certain that the deal will benefit consumers. For that reason, Sprint is looking to offload its Boost Mobile prepaid business. There were rumors that Amazon (NASDAQ:AMZN) may be interested in Boost, which temporarily sank the stocks of wireless carriers like AT&T and Verizon. However, Boost now looks to be going to Dish rather than Amazon. Now that we're on the cusp of a Sprint-T-Mobile deal, what's likely to happen to the companies going forward? Sprint and T-MobileWhile it's hard to imagine a tie-up between S and TMUS hurting consumers, that doesn't mean it's been easy for them to get the deal approved. For instance, ten state attorneys general have opposed the deal, filing a lawsuit against it. That lawsuit should be headed to pretrial soon, where the plaintiffs will look to convince a judge to grant a temporary restraining order. If they succeed, the deal will be pushed back by another several months. Good grief.However, that lawsuit could be scrapped if the Department of Justice gives the deal the green light, according to recent reports. To get that approval, S and T-Mobile will need to shed several assets that will allow a fourth competitor to emerge in the wireless carrier space. The duo has since approached Dish, Charter (NASDAQ:CHTR) and Altice USA (NYSE:ATUS) about buying their Boost Mobile business.Current reports now suggest Dish is close to paying $6 billion for the assets that Sprint and TMUS need to unload to get their merger approved. Those assets are expected to include Boost Mobile, as well as spectrum.At the time the deal was announced -- now more than a year ago -- it was valued at $26.5 billion. The all-stock transaction is based on pricing from April 2018, with 0.10256 shares of T-Mobile being swapped for each share of Sprint, or 9.75 shares of Sprint for each share of T-Mobile. At the time, it valued Sprint stock at $6.62 per share.T-Mobile will be the name of the combined company if the deal is complete. T-Mobile parent company Deutsche Telekom will hold a 42% stake in the combined entity, while Sprint parent company SoftBank (OTCMKTS:SFTBY) will hold a 27% stake. Trading Sprint Stock Click to EnlargeBased on each investor receiving .10256 shares of TMUS for every 9.75 shares of S stock they own, Sprint stock would currently be valued at around $7.70 per share, provided the deal goes through.On the surface, that level is the point to which S stock can rise. That level is also above short-term range resistance near $7.20. Worth noting is that Sprint stock price is now over this level too, near $7.40, after the Dish news. On the downside, $6.60 has buoyed Sprint stock. However, make no mistake about this setup now: It is very much a binary event. Either the deal gets done or it doesn't. If it does, S stock can instantly rise. If it doesn't, Sprint stock will get hammered.While investors can make a case for owning TMUS stock without a deal, Sprint really needs this acquisition to go through. Both companies want this deal to get done, but one of them really needs it, and that's Sprint.So while investors can map out upside and downside levels, they won't matter. All that matters now is whether the deal gains approval. If it does, then the next consideration is T-Mobile's share price. That will determine Sprint's share price, since it's an all-stock deal.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long T, AMZN. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Value Stocks to Buy for the Second Half * 7 Hot Stocks to Buy for a Seemingly Sleepy Summer * 6 Chip Stocks Staring At Big Headwinds in 2019 Compare Brokers The post What's in Store for Sprint Stock? appeared first on InvestorPlace.
Sprint (S) stock has risen close to 3.4% since the beginning of June. On June 17, Sprint closed at $7.10, which was 1.3% higher than its previous closing price.
Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the links provided. Class Period: on behalf of all persons who purchased or otherwise acquired Bloom Energy common stock pursuant or traceable to Bloom Energy’s July 2018 IPO.
(Bloomberg) -- SoftBank Group Corp. founder Masayoshi Son is trying harder than ever to convince investors of the potential for his many technology investments.At a general shareholders’ meeting in Tokyo on Wednesday, Son shared some predictions that were eye-popping even by the standards of the outspoken Japanese billionaire. The value of SoftBank’s investment portfolio could grow 33-fold to 200 trillion yen ($1.8 trillion) in 20 years, he said. That’s an annual growth rate of 19%. The numbers were so outlandish that Son had to add a caveat.“Let me be clear that this is not a business plan,” he said. “It’s a tall tale.”The gathering was SoftBank’s 39th shareholders meeting, with about 2,000 investors present. Son’s remarks drew laughs and even feigned outrage from directors. Fast Retailing Co. CEO Tadashi Yanai, who sits on SoftBank’s board and is Japan’s richest man, urged shareholders to look out for Son “or he will go out of control.”The billionaire’s projections include investments by the Vision Fund. But even bullish analysts have much more modest projections for that portfolio. Chris Lane of Sanford C. Bernstein recently estimated the net present value of the current and future funds at $50 billion to $85 billion.Son then reminded shareholders how 15 years ago at the very same auditorium he presented another seemingly improbable target -- SoftBank with 1 to 2 trillion yen in profit. At the time, the company booked over 100 billion yen in losses. Annual net income has exceeded 1 trillion yen for the past three years.Over that period of time, Son has expanded into wireless operations with the acquisition of Vodafone Group Plc’s Japan unit, acquired Sprint Corp. in the U.S. and launched the $100 billion Vision Fund to transform SoftBank into a technology investment juggernaut. Still, the company trades at a deep discount to the worth of its holdings. The total value of the conglomerate’s publicly traded shareholdings is around 21 trillion yen, while SoftBank’s market cap is roughly 10.7 trillion yen. By the company’s own estimation, there is a discount of about 50%.Son’s message to investors is that when it comes to technology, he is ahead of the curve. He was early to recognize the value of e-commerce and invest in Alibaba Group Holding Ltd. SoftBank was also first to introduce Apple Inc.’s iPhone in Japan. Now Son believes the world is on the verge of another technological shift, driven by artificial intelligence that will transform every industry. He argues that the company’s portfolio of unicorns from Uber Technologies Inc. to WeWork Cos. positions SoftBank to reap the most benefits from that disruption.“I wish I had the money to make tons of investments at the start of the internet revolution. I could see it coming,” Son said. “We started the Vision Fund at the very beginning of the AI revolution.”At least a few of the investors present took him at his word.“Son may talk big, but just look at what he has actually accomplished,” said Yasuhiro Suzuki, a SoftBank shareholder of about 20 years. “I have been to many of these meetings, but today Son seemed especially in high spirits.”Key Insights:The Vision Fund is nearing the end of its investment cycle and SoftBank is in the process of raising a second one of equal size, Son said. The two funds will be successive. SoftBank is in talks with limited partners in the first fund to renew their investments.The company is increasing staff at the fund to 1,000 people, from 415 now.To contact the reporters on this story: Pavel Alpeyev in Tokyo at firstname.lastname@example.org;Takahiko Hyuga in Tokyo at email@example.comTo contact the editors responsible for this story: Peter Elstrom at firstname.lastname@example.org, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg Opinion) -- T-Mobile US Inc. may have found a way to salvage its takeover of Sprint Corp., but it comes at a cost, and leaves one to wonder whether its single-minded focus on sealing the deal is clouding its judgment. It certainly wouldn’t be the first company to let that happen in M&A. T-Mobile is in talks to sell assets, including wireless spectrum and Sprint’s Boost Mobile prepaid brand, to satellite-TV provider and known spectrum-hoarder Dish Network Corp. for at least $6 billion, Bloomberg News reported Tuesday, citing people familiar with the matter. This is being done in an effort to appease the U.S. Department of Justice, which is concerned about the impact that T-Mobile’s $59 billion acquisition of Sprint will have on consumers’ wallets.The DOJ is said to want T-Mobile to lay the foundation for the emergence of a viable No. 4 competitor in the U.S. wireless market to help fill the hole that buying Sprint would leave behind. Dish could, in theory, be that new fourth competitor, and that’s likely the motivation behind the reported arrangement. But given the strategic needs of all involved, the logic of this workaround is puzzling. Let’s start with Dish. While it doesn’t have a wireless network, it already owns lots of mid-band spectrum licenses. These valuable assets have underpinned the company’s $18 billion market capitalization, even as its core satellite-TV business has lost droves of subscribers. Charlie Ergen, the billionaire chairman of Dish, has vaguely laid out plans for using the company’s spectrum to build a nationwide network to service the “internet of things,” ostensibly a step toward later launching a 5G network. Despite what he says, many investors and analysts have expected (or hoped) to see Ergen just sell the spectrum, rather than spending years entangled in a costly network build-out and as a latecomer to the 5G race at that. In any case, the last thing Dish would seem to need is more spectrum. Taking on Boost’s prepaid customers also wouldn’t seem to give Dish much of a leg up in the wireless space, and their bases don’t really overlap. What Dish does need is a partner with the ability to help build its network. If the Sprint deal were to collapse, T-Mobile could be said partner. (After all, Dish has been one of the biggest opponents of the T-Mobile-Sprint merger, at least until now it seems.) Or what about Amazon?A couple of years ago, Ergen reportedly discussed a partnership of sorts with Amazon.com Inc. – and that has to make T-Mobile a little nervous. It’s hard to see how buying Sprint and potentially providing an entry point for Amazon is a better outcome for T-Mobile than the status quo of competing with Sprint, a far weaker rival. Gaining Sprint’s spectrum is also one of the biggest reasons for doing the merger in the first place, so it’s surprising that T-Mobile is willing to divest some of it. And a forced seller isn’t known to get the best price. This is why I wrote last week that it wouldn’t be a surprise if at this point T-Mobile decided to walk away from the deal, on account of disagreeable concessions and a lawsuit by a group of state attorneys general seeking to block the transaction. It may not be a stretch to think that may have been part of the DOJ’s angle in pushing for such divestitures. But if the DOJ and T-Mobile can come to this simple of an agreement – sell spectrum and Boost – then I’m left with two questions: Were regulators really not taking a hard line? Or are executives at T-Mobile and its German parent company, Deutsche Telekom AG, so resolved to get the merger done that they’ll do it even if the merits are spoiled in the process? Craig Moffett, an analyst at MoffettNathanson LLC, put it this way in a note to clients on Monday: “At the end of the day, a bad deal is worse than no deal at all.” That’s true – unless you’re Sprint, in which case no deal is the worst outcome. But T-Mobile shouldn’t feel that same desperation.To contact the author of this story: Tara Lachapelle at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering deals, Berkshire Hathaway Inc., media and telecommunications. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
On June 11, ten states filed an antitrust suit to block the proposed Sprint (S) and T-Mobile (TMUS) merger. The lawsuit alleges that the deal could harm competition and raise costs for consumers. It's believed that the US Department of Justice is nearing a final decision.
The U.S. Federal Communications Commission will vote in July on whether to auction a key band of largely unused 2.5 GHz spectrum to help advance next-generation 5G wireless networks and scrap requirements that it be used for education, the agency said on Tuesday. The FCC in May 2018 voted to consider releasing additional key 2.5 GHz mid-band spectrum reserved in the 1960s for what is now known as the Educational Broadband Service. FCC Chairman Ajit Pai said in a statement the proposal would give existing users more flexibility in how they use the spectrum.
Satellite TV provider Dish Network Corp is in talks to buy the wireless assets of T-Mobile US Inc and Sprint Corp for at least $6 billion, Bloomberg reported on Tuesday, citing 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, the Bloomberg report https://bloom.bg/2XkyT8I said, adding that it hasn't been finalized and talks could still fall through. The U.S. Justice Department had wanted Sprint and T-Mobile to sell off additional assets including some wireless spectrum to create a new wireless competitor before agreeing to approve their $26.5 billion merger.
Dish could announce a deal as soon as this week for assets including wireless spectrum and Sprint's Boost Mobile brand, the Bloomberg report https://bloom.bg/2XkyT8I said, adding that it hasn't been finalized and talks could still fall through. The U.S. Justice Department had wanted Sprint and T-Mobile to sell off additional assets including some wireless spectrum to create a new wireless competitor before agreeing to approve their $26.5 billion merger.
LOS ANGELES, CA / ACCESSWIRE / June 18, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Sprint Corporation ("Sprint" or "the Company") (NYSE: S) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's shares between January 31, 2019 and April 16, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before June 21, 2019.
(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.
Apple (AAPL) is expected to launch 5G-supported iPhones in 2020, much later than other prominent smartphone manufacturers like Samsung, LG, Huawei and Motorola.
Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Sprint Corporation (NYSE:S) from January 31, 2019 through April 16, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages Sprint investors under the federal securities laws. If you wish to serve as lead plaintiff, you must move the Court no later than June 21, 2019.
Dish Network Corp. shares are rising in Monday trading after the company was reported to be the leading bidder for the assets that Sprint Corp. and T-Mobile US Inc. would likely have to sell to score regulatory approval for their pending merger.
Trump Promises Mass Roundup of Millions of Undocumented Immigrants The low-end of the US economy could be on the verge of a serious conflagration. United States President Donald Trump has promised, via tweet as is his wont, that ICE agents will start “removing the millions of illegal aliens who have illicitly found their way into […]The post Market Morning: Trump Immigrant Roundup, Gold Threatens, Google Goes Pharma appeared first on Market Exclusive.
LOS ANGELES, CA / ACCESSWIRE / June 17, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Sprint Corporation ("Sprint" or "the Company") (NYSE: S) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's shares between January 31, 2019 and April 16, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before June 21, 2019.