32.02 +0.02 (0.06%)
After hours: 4:59PM EDT
|Bid||32.01 x 900|
|Ask||32.02 x 1800|
|Day's Range||31.95 - 32.58|
|52 Week Range||31.17 - 39.80|
|PE Ratio (TTM)||6.45|
|Earnings Date||Jul 24, 2018|
|Forward Dividend & Yield||2.00 (6.17%)|
|1y Target Est||37.61|
gets set to see a major drop in revenue from one big online marketplace, it's stepping up its effort to get more revenue from others. On Tuesday afternoon, the online payments giant announced it's doling out $400 million in cash to buy Hyperwallet, which provides a variety of services to help online marketplaces and commerce platforms quickly pay out the consumers and businesses relying on them. Taking stock of the deal, payments vet Tom Noyes observes in his blog that Hyperwallet gives the platforms supporting it a much simpler and more convenient way to handle international commercial payments, which carry gross margins of around 65%, relative to traditional services offered by major banks.
Disney (DIS) upped the ante to $70 billion in cash and stock for key 21st Century Fox (FOXA) assets, one week after Comcast (CMCSA) outbid the company's initial offer. Shares of Disney jumped over 1% on Wednesday following the news, which means now is a good time to see if Disney stock is worth buying at the moment.
T-Mobile US and Sprint will get a better idea of how much opposition their proposed merger will face when the U.S. Senate's antitrust panel holds a hearing next week.
Banks arranging nearly $36 billion of loans to support Walt Disney Co’s sweetened $71.3 billion bid to buy Twenty-First Century Fox Inc’s media assets stand to pocket around $200 million in fees, boosting profits from an increasingly hot market for mergers and acquisitions (M&A). Lenders have already raked in record fees from M&A deals this year, according to Freeman Consulting Services, and the pace could stay torrid after a federal judge’s seal of approval on June 12 for AT&T Inc’s long-pursued purchase of Time Warner. “The bidding war and transformational nature of the Fox deal suggests that the US M&A market could continue hitting new records,” said Jeff Nassof, a director at Freeman Consulting.
After a three and a half year slide that saw its stock fall from $47 to under $13, GameStop Corp. (NYSE:GME) has been on an upswing for the past week. On Monday, rumors began circulating that GameStop was exploring the possibility of a buyout, resulting in GME stock rising as much as 11%. On Tuesday morning, Reuters published a report that claimed GameStop was “holding talks with private equity firms about a potential transaction after receiving buyout interest.” CNBC followed up with a report that Sycamore Partners was an interested party.
Chairman and CEO Bob Iger touted his company's advantage with regulators in an investor call. "We're already six months into the regulatory process and we are confident we have a clear and timely path to approval," Iger told investors regarding Disney's proposed acquisition of Fox. Disney said it would pay Fox $38 per share in either cash or stock, exceeding Comcast's offer of $35 per share in cash.
AT&T is keeping the checkbook open, and a couple of smaller companies could join its growing family of businesses.
Judge Richard Leon's decision to allow AT&T to buy Time Warner has lifted the value of Fox's assets by nearly $20 billion, based on current bidding. Comcast is deliberating its next move and is prepared for a bidding war. In December, Rupert Murdoch decided a $52 billion offer from Disney fairly valued his bundle of Fox assets.
Instagram, Ford, PayPal and AT&T are the companies to watch.