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Stock Market & Financial Investment News

News Breaks
July 7, 2014
13:41 EDTTU, RCI, BCETELUS, 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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October 30, 2014
12:19 EDTRCIRogers, VICE to create production studio for Canadian content
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October 28, 2014
16:43 EDTRCIRogers Communications appoints Deepak Khandelwal to Chief Customer Officer
Rogers (RCI) announced the appointment of Deepak Khandelwal to the position of Chief Customer Officer, effective November 10. Khandelwal joins Rogers from Google (GOOG) where he is currently VP, Global Customer Experience.
October 23, 2014
06:53 EDTRCIRogers Communications backs FY14 adjustedoperating profit
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06:52 EDTRCIRogers Communications: Wireless network revenue moderately higher
Wireless network revenue was moderately higher this quarter and decreased on a year to date basis primarily because of pricing changes made that were associated with our customer friendly simplified pricing plans and the introduction in 2013 of lower priced roaming plans. Cable operating revenue decreased this quarter and year to date primarily because of TV subscriber losses over the past year and a more competitive pricing environment, partially offset by Internet revenue growth and the impact of pricing changes across all product types. Business Solutions operating revenue increased this quarter and year to date primarily because of continuing growth in on-net and next generation services and increased revenue from our data centre businesses, partially offset by a reduction in low margin, off-net legacy revenue. Media operating revenue was unchanged this quarter and increased year to date primarily because of revenue growth at Sportsnet, the Toronto Blue Jays and The Shopping Channel, offset by continued softness in conventional and print advertising.
06:51 EDTRCIRogers Communications reports Q3 adjusted EPS 78c, consensus 88c
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October 22, 2014
10:09 EDTTU, RCI, BCEOn The Fly: Analyst Initiation Summary
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06:45 EDTRCIRogers Communications initiated with a Neutral at UBS
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06:44 EDTTUTELUS initiated with a Neutral at UBS
06:44 EDTBCEBCE initiated with a Neutral at UBS
October 20, 2014
08:03 EDTBCEBell Aliant Regional Communications to send circular to shareholders
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07:44 EDTRCIRogers Communications upgraded to Buy from Hold at Canaccord
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