New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 17, 2012
18:28 EDTCCI, S, CLWRCrown Castle announces terms relating to Sprint's acquisition of Clearwire
Crown Castle International (CCI) announced certain contractual terms in light of Sprint's (S) announcement to acquire 100% ownership of Clearwire (CLWR). Sprint and Clearwire represent approximately 23% and 3%, respectively, of Crown Castle's annualized consolidated site rental revenues. Further, there are approximately 2,700 Crown Castle towers on which both carriers currently reside. In addition, there is an average of approximately nine years and four years of current term remaining on all lease agreements with Sprint and Clearwire, respectively.
News For CCI;S;CLWR From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 21, 2014
12:41 EDTCCIMeister says changes could make Crown Castle $100 stock today
Subscribe for More Information
12:39 EDTCCIKeith Meister says Crown Castle largest holding at around $1B
Keith Meister of Corvex Management is speaking on CNBC.
October 20, 2014
13:53 EDTSEarnings Preview: Verizon sentiment mixed ahead of Q3 report
Subscribe for More Information
11:49 EDTSSprint to offer iPad Air 2, iPad mini 3
Sprint (S) announced that it will offer iPad Air 2 with Wi-Fi + Cellular (AAPL) and iPad mini 3 with Wi-Fi + Cellular later this week. iPad Air 2 is the first tablet from Apple to connect to Sprint Spark, an enhanced LTE service with the added capacity to greatly improve the performance of video and other bandwidth-intensive applications. iPad mini 3 will connect to Sprintís 4G LTE network. Customers can add iPad Air 2 or iPad mini 3 to their Sprint Family Share Pack for an access charge of $10 per month per line. Through December 2015, Sprint will waive the $10 monthly access charge on iPad Air 2 or iPad mini 3 added as new lines of service to any Sprint Family Share Pack 20GB or higher.
October 19, 2014
14:39 EDTSSprint job cuts include 452 at Kansas headquarters, Bloomberg says
According to a filing yesterday with the Kansas Department of Commerce, the job cuts at Sprint that were announced earlier this month, will include 452 positions in Overland Park, Kansas, where the company is headquartered, says Bloomberg. Reference Link
October 14, 2014
09:45 EDTCCICorvex letter to be well received by Crown Castle holders, says Wells Fargo
Subscribe for More Information
08:46 EDTCCICrown Castle confirms receipt of shareholder letter
Subscribe for More Information
08:13 EDTCCICorvex says Crown Castle, Verizon deal would 'diversify' revenues
Corvex said, "A Verizon (VZ) tower deal would diversify Crown Castle's (CCI) revenues and deepen the company's relationship with arguably the U.S.'s strongest wireless company and operator of the country's most robust network. As the largest and most-focused U.S. tower operator and the largest operator of legacy carrier portfolios, Crown Castle could be the best strategic acquirer of Verizon's tower assets. That does not mean the company will be best positioned financially to provide the highest and best bid though. Based on recent press articles, the potential sale price for the Verizon towers could be approximately $6B. However, we strongly believe that the company should not issue any equity at recent prices, and certainly not to acquire more tower assets at premium prices when Crown Castle continues to trade at a material discount to both transaction multiples and publicly traded peers."
08:11 EDTCCICorvex sees Crown Castle to trade closer to 3.5% dividend yield over time
Subscribe for More Information
08:10 EDTCCICorvex says Crown Castle has 'exceptional growth opportunities' ahead
Corvex said, "We are optimistic that many of you share our view that Crown Castle (CCI) is a great business with exceptional growth opportunities in the years ahead. However, we also believe many of you share our frustration over the company's stock price underperformance relative to peers and the market over the last eighteen months, and the company's persistent market discount relative to its peers and its own intrinsic value. We believe Crown Castle shares some of these same frustrations, and we commend management for soliciting input from its shareholders on this issue as well as the company's activities generally. We recently met with management at Crown Castle's headquarters in Houston and have had several follow-up conversations, continuing the productive dialogue we have had with the company for several years. Given the recent published speculation of a potential Verizon (VZ) towers transaction, we felt compelled to reach out publicly to fellow shareholders at this time as well, to further stimulate the capital allocation discussion which has intensified among investors and analysts in recent weeks. We firmly believe Crown Castle's valuation can be improved dramatically and sustainably through a change in the company's capital allocation plan, reducing Crown Castle's cost of capital and enhancing its ability to continue to grow and compound shareholder value over the long term. Based on our analysis, we see a near-term opportunity for Crown Castle to drive a 27% re-rating in its equity, and the potential for over 60% upside in 15 months. Once the company's equity currency has strengthened, Crown Castle can aggressively pursue a Verizon towers transaction, creating even greater long-term value for shareholders. However, if the company does not have the right cost of capital, it should not be pursuing acquisitions or issuing equity, whether for Verizon's towers or any other transaction. We make our case to shareholders and the company below, as well as in the attached presentation. Our analysis suggests a change in capital allocation could result in Crown Castle's stock trading for in excess of $100.00 per share within a short time frame, and compounding further from there. Based on recent public commentary by management, we think Crown Castle may be considering the same actions we suggest."
08:07 EDTCCICorvex sends letter to Crown Castle regarding capital allocation
Corvex Management released a letter to Crown Castle shareholders outlining a proposal to improve the company's capital allocation strategy to strengthen Crown Castle's valuation, reduce its cost of capital, and enhance the company's ability to continue to grow and compound shareholder value. The company said, "Given the increased public debate around Crown Castle's capital allocation policy as well as the potential for a Verizon towers transaction in the near future, we feel compelled to share our views publicly. We believe Crown Castle's valuation can be improved dramatically and sustainably by changing its capital allocation plan, expanding the company's investor base and closing its discount to peers and intrinsic value. We commend management for soliciting input from us and our fellow shareholders regularly, and we look forward to working together to create value for all Crown Castle shareholders."
07:54 EDTST-Mobile, Sprint risk turnover courting lower-credit subscribers, WSJ says
Subscribe for More Information
October 10, 2014
09:35 EDTSSprint downgraded to Sell from Hold at Evercore
Subscribe for More Information
October 8, 2014
07:09 EDTSSprint to shut down WiMAX network around November 6, 2015, FierceWireless says
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use