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News Breaks
April 2, 2014
07:00 EDTTMUST-Mobile to allow current customers to keep corporate discounts, Re/code says
T-Mobile, partially reversing a previous statement, announced that its current customers who receive corporate discounts will keep receiving those discounts, according to Re/code. However, new customers will not receive corporate discounts going forward, Re/code quoted the company as saying. T-Mobile had previously said that all such discounts, which are enjoyed by customers who work at certain companies, would be eliminated, Re/code reported. Reference Link
News For TMUS From The Last 14 Days
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February 12, 2016
12:06 EDTTMUSHSBC says sell Sprint with competitive pressure mounting
Sprint (S) shares rallied in morning trading after an HSBC analyst recommended investors sell the stock due to mounting competitive pressure. Separately, the company announced yesterday that it was extending its 50% offer to customers switching from its rivals a day after majority shareholder SoftBank (SFTBF) made positive comments about the wireless carrier's turnaround, according to Bloomberg. HSBC DOWNGRADE: HSBC analyst Sunil Rajgopal this morning downgraded Sprint to Reduce from Hold and cut his price target for the stock to $1.60 from $5, saying that the carrier's competitors may challenge its turnaround efforts. Rajgopal said that pricing and packaging changes at rivals AT&T (T), Verizon (VZ) and T-Mobile (TMUS) over the past two months have forced Sprint to respond with a more aggressive offering, otherwise it may have to be content with its churn rates inching up. The analyst also lowered his long-term revenue and EBITDA forecasts for Sprint, cutting long-term EBITDA margin estimates to 31.8% from 35.4% and changing his 2016-2025 revenue CAGR to down 1.1% from up 40%. The analyst added that the company needs to show a significant improvement in its profitability or consider monetizing some of its unused or excess spectrum in order to address leverage concerns. Notably, Rajgopal also downgraded Sprint on November 6 to Hold from Buy and cut his price target to $5 from $6.20. Rajgopal said at the time that the company's second quarter results were mixed with a turnaround in postpaid net addition but a rise in prepaid churn. The analyst said that he was concerned that Sprint would continue to be highly leveraged in the medium-term and that increasing competition would lead to an increase in marketing efforts. RECENT NEWS: Yesterday, Sprint announced that it was extending its 50% offer to customers from AT&T, Verizon and T-Mobile who wished to switch to its network, adding that it will pay switching fees up to $650 per line for customers switching from competitors. Marcelo Claure, the company's chief executive officer, recently said that customer demand for the 50% offer was "strong." Separately, Bloomberg reported on Wednesday that Masayoshi Son, the chairman of Sprint stakeholder SoftBank, told reporters in Tokyo that the wireless carrier is "showing definitive signs of a turnaround" and that there are "more opportunities for cost cutting at Sprint." PRICE ACTION: Near midday, Sprint rallied 7.25% to $2.73. OTHERS TO WATCH: Verizon gained 1.48%, T-Mobile was up 2.23% and AT&T was up 0.55%higher in midday trading.
08:44 EDTTMUSHSBC cuts Sprint to sell, says competitors may make turnaround difficult
As previously reported, HSBC analyst Sunil Rajgopal downgraded Sprint (S) to Reduce, the firm's equivalent of a sell rating, from Hold, saying he has turned more cautious regarding its turnaround efforts in light of moves by AT&T (T), Verizon (VZ) and T-Mobile (TMUS). The analyst, who said Sprint's high-leverage is a key concern in addition to its operational challenges, lowered his long-term revenue and EBITDA estimates and cut his price target for the stock to $1.60 from $5.
February 11, 2016
10:21 EDTTMUSSprint says extending 50% offer to customers from AT&T, T-Mobile, Verizon
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February 2, 2016
08:04 EDTTMUSForum Global to hold a conference
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