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Two seemingly different issues — the ongoing 5G network rollout and the coronavirus — are causing confusion and disappointment for many tech investors this earnings season so far and they are now becoming intertwined.
Scientists are excited about the potential for artificial intelligence, improved connectivity, and other technological advancements to make robotic surgery more accurate and accessible.
WarnerMedia is reuniting its "Friends" cast for an untitled, unscripted special for its upcoming streaming service, HBO Max, the company said on Friday. AT&T Inc's WarnerMedia said https://pressroom.warnermediagroup.com/na/media-release/hbo-max/one-where-they-got-back-together series stars Jennifer Aniston, Courteney Cox, Lisa Kudrow, Matt LeBlanc, Matthew Perry and David Schwimmer will return to the hit comedy's original soundstage, Stage 24, on the Warner Bros studio lot in Burbank, California.
The abandonment of a show as big as Mobile World Congress stings economically for the host city, mobile industry and entrepreneurs from across the globe who attend in hopes of doing deals. And it could just be the beginning.
AT&T’s John Stankey, one of the world’s most powerful media executives, weighs in on 5G, HBO Max, the fate of DirecTV, and why having quality content is more important than connectivity speed.
(Bloomberg) -- T-Mobile US Inc. and Sprint Corp. agreed to new terms for their pending merger that take account of the slide in Sprint shares since the transaction was first agreed, putting the industry-altering deal a step closer to completion.T-Mobile owners will get roughly 11 shares of Sprint for each of their stock, the companies said Thursday. That’s an increase from a ratio of 9.75 previously and is more favorable for T-Mobile’s German owner Deutsche Telekom AG.The equity value of the amended deal is about $37 billion compared with the original agreement of $26.5 billion, according to Bloomberg Intelligence analyst Erhan Gurses. The higher valuation partly reflects the 62% gain in T-Mobile shares since the all-stock transaction was announced almost two years ago, despite the deterioration in Sprint’s business.Getting one of the biggest U.S. wireless mergers ever over the finish line would be a boon for Deutsche Telekom as it will reduce its reliance on Europe, where carriers are struggling to grow amid fierce competition. T-Mobile makes up more than half of Deutsche Telekom’s sales, up from about a third in 2014. A completed deal will also benefit Sprint owner SoftBank Group Corp. by allowing its chairman, Masayoshi Son, to better focus on his technology investments and the $100 billion Vision Fund.The combined company, which will operate under the T-Mobile name, will have a regular monthly subscriber base of about 80 million -- in the same league as AT&T Inc., which has 75 million subscribers, and Verizon Communications Inc., which has 114 million.When the transaction closes, which could happen as soon as April 1, Deutsche Telekom is expected to keep 43% of the merged entity, while SoftBank has 24%. The rest will be held by public shareholders.Deutsche Telekom shares fell 1.3% to trade at 16.41 euros in Frankfurt. Sprint shares were up 5% to $9.96 at 11:01 a.m. in New York, while T-Mobile was down 1.8% to $97.73.The original accord, which united the third- and fourth-largest U.S. wireless carriers, was forged in April 2018. That pact lapsed on Nov. 1, and the companies didn’t initially renew the terms while they fought for government approval. When a federal judge rejected a state lawsuit to block the transaction earlier this month, that put the talks on the front burner.Along the way, Sprint’s condition has worsened. That added pressure to redraw the agreement so that it was more favorable to Deutsche Telekom.SoftBank agreed to surrender 48.8 million T-Mobile shares that it will acquire in the merger to the combined company immediately after the transaction closes. But those shares could be reissued to SoftBank by 2025 if the new company’s stock stays above $150 for a period of time.That arrangement -- having SoftBank relinquish the stock after the deal closes -- was structured so that the deal wouldn’t have to go before another shareholder vote.Sprint investors other than SoftBank will still get the original ratio of 0.10256 T-Mobile shares for each Sprint share -- the equivalent of about 9.75 Sprint shares for each T-Mobile share.Sprint’s monthly churn -- a closely watched measure of how many customers leave -- has risen to nearly 2%. That means roughly a quarter of its subscriber base is quitting the carrier each year. And the company isn’t making up for the decline by charging more: Average revenue per customer has fallen 5% since the deal was announced.Analysts such as LightShed Partners’ Walt Piecyk said the merger’s exchange ratio should be closer to 12, given Sprint’s deteriorated business.(Updates with valuation detail in third paragraph, updates share prices.)To contact the reporters on this story: Scott Moritz in New York at email@example.com;Stefan Nicola in Berlin at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, Jennifer RyanFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
AT&T is the latest major tech company to pull out of the cybersecurity event on concerns about the potential spread of novel coronavirus.
Verizon built its powerful brand around the quality of its wireless network. If Verizon stock is going to retain bragging rights with 5G wireless services, it's going to need more bandwidth.
Fundamental and technical analysis raise issues in buying Verizon stock, usually a dividend play. Potential 5G wireless growth and T-Mobile's purchase of Sprint also matter for VZ stock.
Investors looking for income from their investments generally want that income to be paid regularly throughout the year, suggests Beth Piskora, vice president of editorial at CFRA Research in the firm's industry-leading newsletter The Outlook.
FiscalNote continues to have a strong product line, but it faced some financial struggles in 2019, according to several sources familiar with the company. Here's what its founder and CEO says is next for the D.C. startup.
T-Mobile stock popped following a federal judge's ruling approving the Sprint merger. Here is what fundamental and technical analysis says about buying T-Mobile ahead of the merger closing.
The merger between T-Mobile US and Sprint is within reach, the head of its main owner Deutsche Telekom said, forecasting that the combined business would quickly close a valuation gap on market leaders AT&T and Verizon. Highlighting the positive market reaction after a New York judge last week dismissed a lawsuit brought by more than a dozen U.S. states trying to block the deal, CEO Tim Hoettges said the 'new' T-Mobile would have a market value of around $120 billion.
As described on the earnings call on January 29, 2020, AT&T (NYSE: T) ("AT&T") continues to add preferred equity to its capital structure, providing investors another alternative to invest in AT&T. AT&T announced today the issuance of €2,000,000,000 aggregate liquidation preference of its Fixed Rate Reset Perpetual Preferred Securities, Series B (20,000 shares, €100,000 liquidation preference per Preferred Security). AT&T also announced the issuance of $1,750,000,000 aggregate liquidation preference of its 4.750% Perpetual Preferred Stock, Series C (70,000,000 depositary shares, with a liquidation preference equivalent to $25.00 per depositary share). Proceeds from the issuances will be used for general corporate purposes.
Oliver, born in the U.K. but an American citizen, spent most of his return from break this weekend in support of Medicare-for-all, which has been a central platform for candidates Bernie Sanders and Elizabeth Warren.
If you look at its fundamentals, Dish Network (NASDAQ:DISH) may seem a dumb place to park new money.Source: Jonathan Weiss / Shutterstock.com A few months ago, so was Sprint (NYSE:S).By that I mean that, if you want to buy DISH stock, you buy it as an arbitrage play. While Dish is a dying business, facing mammoth capital requirements, it could easily be bought by this time next year.InvestorPlace - Stock Market News, Stock Advice & Trading TipsDISH stock opened for trade Feb. 18 at $39.89 per share. That's a year-to-date gain of 16%. It has a market capitalization of $21.5 billion. But it's 6% below its most recent peak -- one it hit in July 2019. Five years ago, Dish was trading at $75 per share. What's the Deal?Dish Network began life in the 1980s as EchoStar Communications. It was one of two direct satellite broadcasters. The other is DirecTV, now part of AT&T (NYSE:T).As consumers began rejecting satellite, and other forms of cable, for streaming services, Dish rolled out Sling TV, a "cable-lite" package delivered online, in 2015. Since 2015, Dish has continued to shed customers, but Sling has hung in there, gaining 214,000 subscribers in the third quarter of 2019. * 9 Food and Restaurant Stocks to Dine In On But that's not the point, my friend. Dish has been a regular entrant in the Federal Communications Commission spectrum auctions throughout the decade. It has put $20 billion into wireless spectrum now estimated to be worth $30 billion.For years, however, Dish has been a "spectrum hoarder," refusing to build out services on what it owns. Early in its fight to buy Sprint, T-Mobile (NASDAQ:TMUS) even urged the FCC to take the spectrum away from Dish for that reason.But the two companies are now on better terms. That's because in July, Dish agreed to pay $5 billion for key T-Mobile assets, including Boost, Sprint's re-sale business. The deal helped pave the way for T-Mobile's merger with Sprint to be completed. Is Dish for Sale?Dish Network CEO Charles Ergen may be the richest man you never heard of. His stake in Dish was estimated to be worth $10.5 billion last year.Ergen is litigious, and often gets into arguments with his union. He may have also bit off more than he can chew with T-Mobile.Dish still hasn't built out its spectrum, which will cost $10 billion. If it doesn't get that done by 2025 it faces fines of $2.2 billion. Ergen is also 66 years old, young for a presidential candidate but old for a CEO. Which is why many feel the next step for Dish should be its sale.Who would buy it? Comcast (NASDAQ:CMCSA) has gotten nowhere with its Xfinity wireless service, which is based on the side bands of its own customers' WiFi signals. Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) is a re-seller of T-Mobile and Sprint services with its Google Fi. It could buy Dish for what amounts to seat cushion money. So could Apple (NASDAQ:AAPL).As wireless services continue to consolidate around AT&T, Verizon Communications (NYSE:VZ) and the T-Mobile and Sprint tie-up, many expect prices, for customers and re-sellers, to deteriorate.This is the last mile for the major cloud companies, the key connection they need with customers during this coming decade. They won't let the sun go down on it. The Bottom Line on Dish StockDish Network hasn't said it's for sale. But it is.Dish lacks the financial strength to compete in the wireless business. But there are buyers who would see AT&T and Verizon not just as peers, but as mere irritations. Comcast is nearly as valuable as they are. Google is worth about twice what the two wireless giants are, put together. Apple's worth $400 billion more than that.One of these companies is likely to make Charles Ergen a very rich man in the next few years. With earnings tomorrow, you can speculate on getting a share of it.Dana Blankenhorn has been a financial and technology journalist since 1978. His latest book is Technology's Big Bang: Yesterday, Today and Tomorrow with Moore's Law, essays on technology available at the Amazon Kindle store. Follow him on Twitter at @danablankenhorn. As of this writing he owned shares in AAPL. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Food and Restaurant Stocks to Dine In On * 7 Micro-Cap Stocks That Could Double * 7 U.S. Stocks to Buy on Coronavirus Weakness The post Dish Network Is a Speculative Play Ahead of Wireless Changes appeared first on InvestorPlace.
Facebook Inc. is the latest tech company to pull the plug on an event because of COVID-19. "Our priority is the health and safety of our teams, so out of an abundance of caution, we cancelled our Global Marketing Summit due to evolving public health risks related to coronavirus," a Facebook spokesman said in an email to MarketWatch late Friday. The marketing summit was to take place next month in San Francisco. Previously, Facebook dropped out of Mobile World Congress, one of the largest and best-known telecommunications conferences in the world, for the same reason, leading to the show's cancellation. Among other companies to drop out of MWC out of health concerns were AT&T Inc. , Intel Corp. , Sony Corp. , and Amazon.com Inc. [s:AMZN]. Late Friday, International Business Machines Corp. said it was skipping the RSA security conference in San Francisco later this month because of COVID-19.
Could AT&T’s regional sports networks not get sold off after all? The telecommunications and media company didn’t get what it wanted in an auction for its group of four sports channels covering markets around Seattle, Denver, Pittsburgh and Houston, according to a report in the New York Post, which cited sources. While AT&T Inc. (NYSE: T) received multiple bids for what are called “regional sports networks” or RSNs, all of them came in around or below $500 million, short of expectations estimated to be approximately $1 billion, the story said.