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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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March 27, 2015
09:35 EDTBCEBCE upgraded to Hold from Reduce at TD Securities
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March 19, 2015
05:29 EDTTUTELUS Health acquires Medesync
TELUS Health completed its acquisition of Medesync, a certified EMR product, which will aim to bring a web-based interface to TELUS' EMR portfolio in Quebec. The agreement includes the transition of Medesync employees and expertise to TELUS Health, which will allow TELUS to provide Medesync customers with consistent service.
March 16, 2015
13:06 EDTTUSysorex signs TELUS to resell AirPatrol products
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