New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 7, 2014
13:41 EDTBCE, RCI, TUTELUS, 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
Sign up for a free trial to see the rest of the stories you've been missing.
December 12, 2014
16:51 EDTTUTELUS to purchase up to 1.2M common shares through private agreements
TELUS announced that it intends to purchase and cancel up to 1.2M of its common shares through private agreements with an arm's-length third-party seller. The private agreement purchases will be made according to an issuer bid exemption order issued by the Ontario Securities Commission on December 12 and must occur prior to December 31. The common shares purchased will be counted towards the 16M common shares that TELUS is entitled to purchase for cancellation over a 12-month period, commencing October 1, under its 2015 normal course issuer bid announced on September 29.
December 8, 2014
07:23 EDTRCIUBS to hold a conference
42nd Annual Global Media & Communications Conference is being held in New York on December 8-10 with webcasted company presentations to begin on December 8 at 8 am; not all presentations may be webcasted. Webcast Link

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use