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U.S. stocks plunged to their worst loss in eight months on Wednesday as technology companies continued to drop. The losses were widespread, and stocks that have been the biggest winners on the market the last few years, including technology companies and retailers, suffered steep declines. WASHINGTON (AP) -- Companies that depend on holiday season sales need more workers at a time when the ranks of the unemployed have dwindled to their lowest level since the recession.
When it comes to the stock market, there are a bunch of positives. Corporate sales and earnings growth is as robust as it has been in recent memory. Thus, while investors should remain long the growth names that have powered this bull market higher, they also shouldn’t forget to pad their portfolios with some risk-protection through blue-chip dividend stocks.
The U.S. Chamber of Commerce and other powerful business groups asked an appeals court on Thursday to not undo AT&T Inc's (T.N) purchase of movie and TV show maker Time Warner, despite the protests of the Justice Department. The business groups argued that companies had long assumed that if they bought a supplier or distributor -- generally called a vertical merger -- that the deal would be considered good for the consumer and would be allowed. "The vague legal standard that the government ... advocate(s) would cloud the business community’s ability to ascertain whether vertical mergers are lawful, making it more difficult to invest in transactions with enormous potential to lower prices and enhance innovation—all of which benefit a diverse array of customers," the business groups said in a brief court filing.
NEW YORK (AP) — CBS says it has named media industry veteran Richard Parsons as interim chairman of the board as the company moves to reshape itself following the ouster of longtime chief Les Moonves.
Disney (NYSE:DIS) has been in competition with Comcast (NASDAQ:CMCSA) over buying assets from Twenty-First Century Fox (NASDAQ:FOXA) for a while. This morning, we learned the final result and Comcast prevailed in the bidding process. Disney stock is rallying on the news … and therein lies an opportunity.
Wall Street delivered another set of milestones Thursday as a wave of buying sent U.S. stocks solidly higher, driving the Dow Jones Industrial Average above the all-time high it closed at in January. The S&P 500, the benchmark for many index funds, also hit a new high, eclipsing the peak it reached last month. Energy companies declined along with crude oil prices.
Seemingly every streaming service is moving into original programming and AT&T-owned Crunchyroll is next to take a swing at it. Ellation Studios (also owned by AT&T) will start producing original shows for the anime-streaming service, starting with High Guardian Spice next year. Further details will be revealed at September's Crunchyroll Expo in San Jose, according to TechCrunch, but for now we know the show is about four girls at the magical High Guardian Academy where they'll train to become defenders of the city.
Verizon Communications Inc.’s snafu with limiting data speeds of California firefighters comes at an opportune time for rival AT&T Inc., which is striving to sign up public-safety customers to its FirstNet network. As the No. 1 wireless carrier, Verizon has long had an edge in serving emergency responders. The company made the technology available at its more than 5,300 retail locations last month, aiming to reach local agencies across the U.S.
Wells Fargo thinks AT&T (T) is serious about reducing its debt—and that its shareholders could pay the price. Analyst Jennifer Fritzsche downgraded AT&T’s shares to Market Perform from Outperform on Wednesday, in part because its status as the most-indebted nonfinancial U.S. company could force it to play nice with bondholders at shareholders’ expense. Shares were down 1.4% at $32.93 at 1:08 p.m.. AT&T certainly has a lot of debt to pay off—more than $180 billion, some $82 billion of which is a result of its acquisition of Time Warner.
Hedge funds tend to pile into the same stocks—and they’re taking it on the chin with some big-name holdings, Facebook (FB), Netflix (NFLX), and Micron Technology (MU) among them. Funds have been trimming their positions in the FANGs, as Barron’s recently reported. Funds remain heavily invested in Facebook and Alphabet (GOOGL), owned by 40% of the 340 largest funds, and they continue to own sizable positions in Microsoft (MSFT) and Amazon.com (AMZN), which are held by 35% and 31% of funds respectively.
Investment company Stumpf Capital Management LLC buys AT&T Inc during the 3-months ended 2018-06-30, according to the most recent filings of the investment company, Stumpf Capital Management LLC.
The U.S. telecom sector is undergoing a dramatic shift as major carriers work toward bringing 5G technology to the markets. Touted as a game changer, 5G technology is expected to significantly improve internet surfing speeds and the data transfer process. Major players in the telecom industry, including AT&T (NYSE:T) and Verizon (VZ), are testing their 5G offerings and plan to launch them in select U.S. cities as early as the end of this year.
Hackers are using a method known as “SIM swapping” to steal phone numbers and in some cases, use them to take millions of dollars worth of cryptocurrency. This week, a California man sued his wireless carrier AT&T for $224 million after criminals used the method to steal $24 million from an cryptocurrency exchange. “Once hackers get access to your private keys, they own your money and you’re screwed,” says Kyle Samani, managing partner at Multicoin Capital.
The transaction is likely to augment AT&T's (T) foothold in the digital ad sales market to better compete with its rivals.
We remain encouraged by T-Mobile's (TMUS) exclusive service offerings and expect its top line to get a boost from added subscriptions.
The high failure rate is a direct result of companies' inability to determine the strategic purpose of deals and how specific plans will enhance or stunt growth, according to the Harvard study. AT&T/Time Warner Inc. AT&T Inc. (NYSE: T)’s $85-billion acquisition of Time Warner Inc. faced significant headwinds earlier this year as the Justice Department sued to block the potential merger. The reasoning for the DOJ’s decision was rooted in the deal's effect on consumers.
While three of the four major wireless carriers' postpaid phone churn grew last quarter, one is getting better at keeping its subscribers.
CBS is reportedly negotiating an exit package for CEO Les Moonves that could be worth up to $100M. Yahoo Finance's Seana Smith, Dion Rabouin, and Dan Roberts discuss along with Third Seven Advisors' Michael Block.
Rotten Tomatoes, the movie review site, is diversifying its list of critics. Yahoo Finance’s Dan Howley, Maylan Studart, and Ethan Wolff-Mann break down how this could impact the movie industry.