6.54 -0.04 (-0.61%)
After hours: 5:44PM EDT
|Bid||6.54 x 27000|
|Ask||6.57 x 3000|
|Day's Range||6.48 - 6.74|
|52 Week Range||5.44 - 8.06|
|Beta (3Y Monthly)||0.04|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 29, 2019 - Nov 4, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||6.81|
Wind turbines in Texas are set to generate 87 terawatt-hours of electricity in 2020, surpassing the roughly 84 terawatt-hours of electricity estimated from coal plants.
(Bloomberg Opinion) -- AT&T Inc. CEO Randall Stephenson seems to be coming around to the right idea that the wireless carrier would be better off without its shrinking DirecTV business. Oddly enough, his decision could hinge on a legal trial in December that has little to do with his company but everything to do with how far antitrust regulators can be pushed in the Trump administration.It was the $67 billion takeover of DirecTV four years ago that first turned AT&T into a diversified communications conglomerate. Stephenson overpaid and underestimated how quickly the satellite-TV service would lose subscribers to cheaper online alternatives. With AT&T now squarely focused on expanding its 5G wireless network and integrating HBO and the other WarnerMedia assets it acquired last year, the company is finally considering parting ways with DirecTV, the Wall Street Journal reported Wednesday, citing unidentified sources. The pivot comes as activist investor Elliott Management Corp. puts pressure on Stephenson and AT&T’s board to streamline its operations. I explained in January how a sale of DirecTV might help AT&T pay down its mountain of debt more quickly and remove a cloud over its stock price. AT&T also has far too many pay-TV products, and it’s already started to play down the DirecTV brand by changing the name of DirecTV Now, a skinny live-TV streaming platform, to AT&T TV Now:One option is spinning off the unit into a separate publicly traded entity, though it’s hard to see the appeal for investors of a stand-alone DirecTV. It wouldn’t have the same advantages AT&T gets through its scale and simultaneous control of popular programming. For example, HBO went dark on Dish Network Corp.’s satellite-TV services last year because of a carriage dispute between the companies, leaving many HBO fans the choice to either switch to DirecTV or subscribe to the HBO Now app for $15 a month — both properties of AT&T. DirecTV has also lost customers rapidly while turning to desperate price increases to shore up profit margins.AT&T’s other option for unloading DirecTV is to combine the business with Dish, which is beset by the same industry challenges. Charlie Ergen, the billionaire who controls Dish, said in an interview in July that he sees “industrial logic” for putting the two together. They could substantially cut costs, and the added cash flow would aid Ergen in his efforts to build a nationwide wireless network.Regulatory friction is seen as the biggest obstacle to a DirecTV-Dish merger, with Reuters reporting Wednesday that the companies aren’t discussing a deal for that reason. But the way I see it, Stephenson and Ergen may just be awaiting the outcome of T-Mobile US Inc.’s attempt to buy Sprint Corp., as I wrote in June. Should that deal proceed, it would set a precedent for allowing the merger of two direct competitors in a highly concentrated market. So far, T-Mobile and Sprint — the No. 3 and No. 4 U.S. wireless carriers, respectively, behind AT&T and Verizon Communications — have received clearance from both the U.S. Department of Justice’s antitrust division and the Federal Communications Commission. However, 18 state attorneys general — and counting — have joined a lawsuit to block the transaction on the grounds that it will lead to higher prices for consumers, discourage industry innovation and hurt workers. The trial is set to begin Dec. 9.(1) A triumph by the companies may embolden Stephenson and Ergen. They could even argue that the pay-TV market isn’t as concentrated, with numerous new streaming-TV apps posing competition to the traditional distributors. Walt Disney Co. has constructed a $13-a-month bundle for Disney+, Hulu and ESPN+ that almost rivals denser cable-TV packages in content, and certainly does in price. The wild card, of course, is President Donald Trump. It’s been reported that he tried meddling in AT&T’s takeover of Time Warner, a unit now called WarnerMedia, because of personal grievances with the news network CNN, one of the assets AT&T inherited in the deal. As for DirecTV and Dish, “the biggest ‘regulatory’ obstacle may be the president and his undying desire to punish CNN,” analysts for New Street Research wrote in a report Thursday. Stephenson said in December 2016, when AT&T was integrating the DirecTV purchase, “We did DirecTV not because we love satellite technology, but because it gave us access to some premium content.” It’s a refrain both he and his deputy and heir apparent, John Stankey, have repeatedly recited. But the subsequent $102 billion acquisition of WarnerMedia gave AT&T all the premium content it needs. DirecTV is just a distraction now. (1) Ergen also plays a key role in the T-Mobile-Sprint merger trial. The carriers were required by the Justice Department to divest certain assets to Dish so that it can enter the wireless market and foster competition.To contact the author of this story: Tara Lachapelle at email@example.comTo contact the editor responsible for this story: Daniel Niemi 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 the business of entertainment and telecommunications, as well as broader deals. 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.
OVERLAND PARK, Kan. and KANSAS CITY, Mo., Sept. 19, 2019 /PRNewswire/ -- As schools across the nation kick off a new school year, the 1Million Project Foundation is collaborating with Teach For America to help reach more high school students who need access to reliable internet at home. Beginning in July, the two organizations set off with a goal of reaching up to 10,000 students, a portion of the 115,000 high school students the foundation plans to enroll during the 2019-2020 school year. In the United States there are more than 5 million families that do not have reliable internet connectivity at home.
In order to be a more sustainable company, Sprint (S) signs agreement with Duke Energy Renewables for a new 182 megawatts wind power project in Texas.
It's easy to predict that a recession will come eventually. They always do. The trick is in the when - and even the most experienced experts take a lot of swings without making contact.But more strategists and economists are increasing their odds of a forthcoming recession. An August survey by the National Association for Business Economics showed that three of four economists expect a recession by 2021. It could come sooner than that. Also in August, Bank of America analysts said there's a greater-than-30% chance of a recession within 12 months. In a June interview, economist Gary Shilling said, "I think we're probably already in a recession."There are plenty of potential catalysts. Numerous international central banks are easing their policies to battle slowing economic growth. America's Federal Reserve is no exception - it just announced the second cut in its benchmark interest rate this year. The U.S.-China trade war is exacerbating things, with a salvo of tariffs weighing on consumers here and abroad. This has been reflected in the Treasury yield curve, which has inverted several times in 2019 - a recessionary warning sign.Don't look to these five stocks for recession protection. Many businesses surely will feel the pinch of an economic pullback. But these five better-known names - while fine companies in some respects - have issues such as high debt levels and struggling growth despite the economic expansion that might make a downturn more painful for them than others. SEE ALSO: The Pros Say No: 7 Large-Cap Stocks to Sell or Avoid
The type of agreement involved in this project has become more common in the renewable energy industry as corporate customers have become bigger buyers in the market.
OVERLAND PARK, Kan. and CHARLOTTE, N.C., Sept. 18, 2019 /PRNewswire/ -- Sprint (NYSE:S) and Duke Energy Renewables, a commercial business unit of Duke Energy (DUK), today announced a 12-year virtual power purchase agreement (VPPA) for 173.3 megawatts (MW) of new wind energy.
As the wireless industry rolls out the 5G technology, the latest network deployment is triggering demand for tower leasing which looks encouraging for the days ahead.
The media business has always been about frenemies and evolving alliances which makes for tricky navigation even in quiescent times.
OVERLAND PARK, Kan., Sept. 12, 2019 /PRNewswire/ -- Sprint today announced it will offer the latest products from Apple, including iPhone 11 Pro and iPhone 11 Pro Max, a new pro line for iPhone, as well as the new dual camera iPhone 11. Sprint will also offer Apple Watch Series 5 with Always-On Retina display and the new seventh-generation iPad.
Company searching for startups focused on innovative applications, products, services and technology using the power of Sprint True Mobile 5G OVERLAND PARK, Kan. , Sept. 12, 2019 /PRNewswire/ -- Sprint ...
OVERLAND PARK, Kan. , Sept. 10, 2019 /PRNewswire/ -- Sprint will offer the latest products from Apple, including iPhone 11 Pro and iPhone 11 Pro Max, a new pro line for iPhone that delivers advanced performance, ...
A group of T-Mobile employees sent a letter to Deutsche Telekom CEO Timotheus Höttges during his recent visit to the company's Bellevue headquarters.
'Curiosity Lab at Peachtree Corners' Grand Opening: Real-world smart city infrastructure and 5G connectivity enable companies to better test cloud AI, robots, autonomous vehicle tech and more OVERLAND ...
Many value investors had a difficult time during the Great Recession. Tried-and-true methods sometimes produced poor results. What made the crash so different and what can we learn from it? Continue reading...
Sprint Drive now provides impact detection, estimates for repairs, maintenance reminders and full Spanish language support Sprint Drive also offers real-time vehicle tracking and diagnostics, 24/7 roadside ...
Delta Air Lines says robotic vehicles could help customers make tight connections across airports, deliver delayed baggage to travelers or transport aircraft parts to airports.
Altice's (ATUS) new nationwide mobile service will likely deliver superior connectivity and simplify customer experiences, at an unbeatable value.
A federal appeals court on Thursday threw out a $26.9 million award in favor of Sprint Corp, in a setback to the company's years-long campaign to stop what it calls cellphone trafficking. In a 3-0 decision, the 4th U.S. Circuit Court of Appeals in Richmond, Virginia, said Sprint's contracts with customers who bought "upgraded" phones did not unambiguously prohibit those customers from reselling their phones to third parties. The court overturned a June 2018 judgment against Wireless Buybacks LLC.
(Bloomberg Opinion) -- T-Mobile US Inc. is trying to make the case that Sprint Corp. is on its deathbed, and that T-Mobile alone can save it. That’s rich coming from the company that happily helped put Sprint there. It’s also a misleading prognosis for Sprint. A Sprint pity party is one way T-Mobile is defending against a multi-state lawsuit that seeks to prevent the wireless carrier from taking over its weaker rival, and it used that reasoning in a court filing last week. Even though the deal already has the backing of the U.S. Department of Justice and Federal Communications Commission, 17 state attorneys general – who represent more than half the U.S. population – are challenging the transaction because of concerns that it will lead to higher prices, discourage innovation and hurt workers. Illinois, Oregon and Texas were the latest to join the now-bipartisan suit, whose trial date is set for Dec. 9. State officials are right to be concerned. T-Mobile and Sprint are the third- and fourth-biggest carriers, respectively, in a mainly four-carrier market. Lower prices and new features from them in recent years did a lot of good for customers, forcing industry leaders Verizon Communications Inc. and AT&T Inc. to offer more competitive data plans. But without Sprint, there isn’t as much incentive for T-Mobile to keep prices down. In fact, for T-Mobile to close its profit-margin gap with the larger carriers, it more likely would need to do just the opposite. The DOJ is looking to wireless market newbie Dish Network Corp. to help preserve some equilibrium, putting Dish on the receiving end of the concessions that T-Mobile and Sprint are required to make. However, Dish is still years and multiple billions of dollars away from becoming a formidable competitor to fill the hole Sprint will leave behind. As such, the DOJ and the FCC may not be fulfilling their duties to promote competition and ensure that corporate tie-ups serve the public interest. T-Mobile’s argument is that if its deal gets blocked, Sprint is going to go away anyway. That’s a half-truth. I’ve written time and again about Sprint’s financial troubles and strategic missteps, including this series of charts showing just how ugly Sprint looks as a stand-alone. The data are almost sympathetic to T-Mobile’s case. But a merger between T-Mobile and Sprint doesn’t save Sprint. It does rescue an investment turned sour for many shareholders, especially a billionaire named Masayoshi Son. He’s the leader of SoftBank Group Corp., Sprint’s Japanese controlling shareholder, and he wants to remove any trace of his misguided optimism about Sprint from SoftBank’s balance sheet, equity valuation and image. SoftBank is retaining a 27% economic interest in the new T-Mobile, a superior operator on healthier footing.T-Mobile is casting itself as Sprint's savior, but T-Mobile CEO John Legere has been dancing on Sprint’s grave for years. Legere, a shameless yet successful self-promoter, often crossed the line in these instances beyond healthy competition, tweeting mean-spirited jokes about his rival going out of business. There were times he called Sprint “a melting ice cube,” said the company may have to resort to raising money on Kickstarter, and asked for “any guesses on what Sprint will fruckup today” (a swipe at Sprint’s “framily plan” promotion for friends and family). He used the hashtag SprintLikeHell. I’m not pointing this out for the sake of it or to say Legere is a big ole meanie. It’s more about this: While Legere was dissing Sprint, he continued to boast to investors that T-Mobile was actually posing serious competition for Verizon and AT&T – something he promises a combined T-Mobile-Sprint will also do. Except the data paint a slightly different picture. For years, T-Mobile regularly disclosed so-called porting ratios, which tell how many customers T-Mobile lost to another carrier and vice versa. For example, starting in 2013, its porting ratio with Sprint mostly held above 2 and at times went above 4 and higher, meaning that for every subscriber T-Mobile lost to Sprint, it gained four Sprint customers. T-Mobile will say that the overwhelming majority of its “porting” has come from Verizon and AT&T, but that’s explained by the fact that those companies have larger subscriber bases than Sprint does. The reality is that T-Mobile inflicted far more damage on Sprint than to what it calls “the duopoly,” as this chart shows:To be fair, T-Mobile isn’t the predominant reason Sprint is in such a desperate state now. Its problems date back to Sprint’s ill-advised merger 14 years ago with Nextel, a network that became a money pit for the company. And Sprint was never able to dig its way out from a mountain of debt, largely deal-related. Meanwhile, in 2011, regulators stopped AT&T from buying T-Mobile, a move that set T-Mobile up for a turnaround and to become the fastest-growing member of the industry. Had that deal gone through, consumers’ bills may have looked very different in the subsequent years.Going forward, if Sprint were to get any cheaper, other deep-pocketed buyers outside of the industry would likely surface, such as Charter Communications Inc., Comcast Corp. and others. The idea of a cable giant owning Sprint might not seem like a better outcome, but it preserves a competitor in the wireless market and many more jobs. As the industry gears up for ultra-fast 5G wireless networks, there’s simply no way T-Mobile is the sole company interested in Sprint’s spectrum assets and subscriber base, even if its brand is beyond repair. So when T-Mobile tells a courtroom that Sprint needs it, you have to laugh.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 the business of entertainment and telecommunications, as well as broader deals. 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.
While Sprint (S) partners with Ericsson (ERIC) to offer improved video analytics solution, AT&T (T) collaborates with Starz for enriched video content for subscribers.