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Stock Market & Financial Investment News

News Breaks
January 16, 2013
13:35 EDTCLWR, S, DISHMount Kellett sends third letter to board of Clearwire
Mount Kellett Capital sent a letter to the Clearwire (CLWR) Board of Directors outlining issues related to, among other things, Clearwire's relationship with Sprint (S). "We have of course been carefully monitoring recent developments concerning Clearwire and its proposed acquisition by Sprint, including the company's announcement on that it had received an unsolicited proposal from DISH (DISH) to acquire Clearwire at a premium to the consideration offered by Sprint, to acquire certain of Clearwire's excess spectrum and to provide financing to Clearwire. The DISH proposal is further evidence of what has been clear to us for many weeks: The Special Committee, in breach of its fiduciary duties to the minority stockholders of Clearwire, utterly capitulated to Sprint's demand to sell the company at a grossly inadequate price; The Special Committee and the Board of Directors generally, in breach of their fiduciary duties and despite public assurances to the contrary, failed to conduct a vigorous process for the monetization of the company's excess spectrum. In light of these circumstances, it is incumbent on the Special Committee to take its time to thoroughly and thoughtfully evaluate the DISH proposal, including how to address certain obstacles to consummating the proposal asserted by Sprint and to negotiate for all possible improvements to the proposal."
News For CLWR;S;DISH From The Last 14 Days
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August 6, 2014
12:26 EDTDISHDISH says 'certainly would be interested' if NFL opened bidding on Sunday Ticket
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12:25 EDTDISHDISH sees upcoming auction to provide indicator on value of spectrum holdings
Ergen says he believes the value of DISH's spectrum holdings is "probably underestimated" by most analysts.
12:17 EDTS, DISHDISH Chairman says 'nothing really has changed' in terms of strategy
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12:12 EDTSOn The Fly: Midday Wrap
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12:09 EDTDISHDISH says scaled back discounts amid capacity constraints
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11:10 EDTSOptions with increasing implied volatility
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10:53 EDTSSprint, T-Mobile dive after merger talks reportedly end
Shares of wireless carriers Sprint (S) and T-Mobile (TMUS) are falling after multiple media outlets reported that Sprint has ended its pursuit of buying T-Mobile. Previous reports had suggested that Sprint was interested in acquiring its competitor. In the wake of the news, Wells Fargo remained upbeat on Sprint, while FBR Capital wrote that the deal could still occur. WHAT'S NEW: Sprint has ended its pursuit of T-Mobile due to opposition to the tie-up by regulators multiple news outlets reported last night, citing unnamed sources. Sprint also replaced CEO Dan Hesse with Marcelo Claure, the founder and CEO of SoftBank (SFTBF) subsidiary Brightstar, and Sprint Chairman Masayoshi Son said "While we continue to believe industry consolidation will enhance competitiveness and benefit customers, our focus moving forward will be on making Sprint the most successful carrier." ANALYST REACTION: In a note to investors today, Wells Fargo analyst Jennifer Fritzsche wrote that the news on Sprint should improve going forward, while the company should benefit from new spectrum it has acquired. History suggests that the best time to buy Sprint's stock is when it appears to be capitulating, added the analyst, who believes that the company is still well-positioned to pursue other strategic alternatives. However, Fritzsche thinks that some of T-Mobile's "likely and logical" partners may not be ready to make a deal in the near-term, while the company has "more questions than answers." The analyst kept an Outperform rating on Sprint and a Market Perform rating on T-Mobile. Meanwhile, FBR Capital analyst David Dixon wrote that he was not convinced that Sprint had abandoned its bid for T-Mobile. Rather, the companies are probably not prepared yet to make a deal that is likely to be approved by regulators, the analyst stated. The deal could be approved if the companies demonstrate that their combined network would improve the experience of users, and the companies are taking steps to meet this goal, according to Dixon, who kept a Market Perform rating on Sprint. WHAT'S NOTABLE: In the wake of the news that Sprint will apparently drop its pursuit of T-Mobile, French telecom company Iliad (ILIAF), which has made a bid for T-Mobile, sees no immediate need to boost its takeover offer, according to The Wall Street Journal. PRICE ACTION: In mid-morning trading, Sprint fell 17.9% to $5.98 and T-Mobile sank 6.1% to $31.85.
09:30 EDTDISHDISH signs multi-year contract with Xavient for IT services
Xavient Information Systems, an IT services and solutions provider, announced that they have signed a multi-year deal with DISH Network to provide extensive IT services.
09:28 EDTSIliad continues with T-Mobile bid, won't boost for now, WSJ says
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09:13 EDTSOn The Fly: Pre-market Movers
HIGHER: Fox class A shares (FOXA), up 5.9% after withdrawing proposal to acquire Time Warner (TWX), announcing $6B share repurchase program, reporting quarterly results... MannKind (MNKD), up 1.6% after entering a supply agreement with Amphastar Pharmaceuticals (AMPH)... Criteo (CRTO), up 11.5% after upgraded at Goldman following its better than expected Q2 earnings report. LOWER: Time Warner (TWX), down 13% after earnings, maintaining guidance, bid dropped by Fox... Sprint (S), down 16.5% after naming Marcelo Claure as president and CEO, reportedly dropping pursuit of T-Mobile (TMUS). T-Mobile shares also down 8.5%... Groupon (GRPN), down 18%, downgraded at Wunderlich after the company reported lower than expected Q3 results... Walgreen (WAG), down 15.7% after exercises option to acquire remaining 55% of Alliance Boots, says it will not pursue inversion as part of deal... Shire (SHPG), down 6% after Walgreen announced it would stay located in Chicago and Bloomberg last night reported that the Treasury Department is exploring ways to bypass Congress in an attempt to curb corporate inversions... Cytori Therapeutics (CYTX), down 33% after announcing that it has placed enrollment in the ATHENA and ATHENA II trials on clinical hold. UP AFTER EARNINGS: Enphase Energy (ENPH), up 20%... AOL (AOL), up 5%. DOWN AFTER EARNINGS: Nu Skin (NUS), down 8.5%... Rocket Fuel (FUEL), down 27%... Cognizant (CTSH), down 13%... First Solar (FSLR), down 2.5%... Globus Medical (GMED), down 17%.
08:31 EDTSSprint names Marcelo Claure as president and CEO
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08:30 EDTSSprint names Marcelo Claure as president and CEO
08:22 EDTSSprint news to improve going forward, says Wells Fargo
After multiple news outlets reported that Sprint (S) would abandon its efforts to buyT-Mobile (TMUS), Wells Fargo thinks that the news on Sprint will improve as the company moves beyond many of its network challenges and begins to benefit from its 2.5 GHz spectrum. The firm believes that the company is well-positioned to seek other strategic alternatives and keeps an Outperform rating on the shares.
08:09 EDTSSoftbank seen as still interested in M&A after dropping T-Mobile plans, WSJ says
Despite the reports that Sprint (S) parent Softbank (SFTBF) is no longer pursuing a deal for T-Mobile (TMUS), some analysts said they doubted that the setback had killed the company's appetite for a big acquisition of a network operator, though they said the company might shift its focus from the U.S. to Europe, according to The Wall Street Journal. An analyst at SMBC Nikko said he thought Softbank might announce another deal shortly, but that rather than aiming to buy another mobile operator that it would try to build up its digital content portfolio, the report added. Reference Link
07:51 EDTST-Mobile volatility is expected to move on said to end talks to be purchased
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07:39 EDTSFBR not convinced Sprint will abandon T-Mobile bid
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07:30 EDTSSprint volatility expected to move on said to end talks to buy T-Mobile
Sprint (S) option implied volatility is expected to move on said to end talks to buy T-Mobile (TMUS). Overall option implied volatility of 49 is near its 26-week average of 50 according to Track Data, suggesting non-directional price movement.
06:15 EDTDISHDISH reports Q2 EPS 46c, consensus 51c
Reports Q2 Q2 revenue $3.69B, consensus $3.69B; Reports Q2 subscriber-related revenue up 5.6% to $3.65B.
06:13 EDTDISHDISH activated 656,000 gross new pay-TV subscribers in Q2
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06:03 EDTSSprint could name Marcelo Claure as new CEO, Reuters reports
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