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Stock Market & Financial Investment News

News Breaks
July 7, 2014
13:41 EDTTU, BCE, RCITELUS, Rogers retreat after Canada discloses auction rules
Shares of large Canadian wireless carriers TELUS (TU) and Rogers (RCI) are falling after the Canadian government indicated that it would sell wireless spectrum to smaller telecom companies. WHAT'S NEW: The Canadian government announced today that it would sell new wireless spectrum in an auction beginning next year. A 30MHz block of spectrum will be sold to one company in each market, the government stated. ANALYST REACTION: In a note to investors, Bank of America Merrill Lynch responded to the news by lowering its rating on Rogers Communications and TELUS to Neutral from Buy. Under the rules announced by the Canadian government, only companies with market shares of less than 10% will be able to purchase the spectrum that will be auctioned off next year, analyst Glenn Campbell stated. As a result, Campbell now expects Rogers and TELUS to each have a 27% share of the country's wireless market in 2025, down from his previous estimate of a 28% share. He cut his price target on TELUS to $36 from $38 and on Rogers to $38.75 from $40.50. ANOTHER TO WATCH: Like TELUS and Rogers, BCE Inc. (BCE) provides communication services to residential, business and wholesale customers in Canada. PRICE ACTION: In mid-afternoon trading, TELUS shares trading in New York dropped 2.1% to $36.54, Rogers fell 2% to $39.69 and BCE slid 1.2% to $45.05.
News For TU;RCI;BCE From The Last 14 Days
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February 4, 2016
07:12 EDTBCEBCE to raise annual dividend 5% to C$2.73 from C$2.60
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07:11 EDTBCEBCE says Thomas O'Neill to retire as Chair, board to nominate Gordon Nixon
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07:11 EDTBCEBCE reports Q4 EPS C72c, consensus 71c
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January 27, 2016
06:57 EDTRCIRogers Communications sees FY16 operating revenue up 1%-3%
Rogers Communications said: "We expect steady growth in operating revenue and adjusted operating profit and lower additions to property, plant and equipment to drive higher free cash flow. We expect to have the financial flexibility to maintain our network advantages, to begin reducing debt, and to continue to return cash to shareholders." Sees FY16 capex C$2.3B-C$2.4B and free cash flow up 1%-3%.
06:55 EDTRCIRogers Communications reports Q4 adjusted EPS C$0.64, consensus C$0.69
Reports Q4 revenue C$3.45B, consensus C$3.48B. "Overall, we delivered steady results in a fiercely competitive quarter, including strong results in Wireless and Internet, where we maintained momentum in subscriber and financial metrics. We continued to make strong progress on postpaid churn thanks to the success of our customer propositions and customer experience improvements. Whilst we are making good progress, we aren't resting on our laurels, and we recognize there is more work to do. We delivered on our full-year guidance and our strategy continues to gain traction in the market. We enter 2016 with an outlook of continued growth and remain focused on delivering year two of Rogers 3.0," said Guy Laurence, President and CEO, Rogers Communications.

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