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Stock Market & Financial Investment News

News Breaks
July 7, 2014
13:41 EDTRCI, TU, 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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April 16, 2015
10:01 EDTTUTELUS invests $116M in Greater Montreal area in 2015
TELUS will invest $116M in new infrastructure and facilities across the Greater Montreal area this year to enhance wireless capacity and data speeds, connect more businesses directly to the company's fibre optic network, and deliver TELUS Health technology solutions. This significant investment is part of TELUS' commitment to invest $1.6B in Quebec through 2018 to bring advanced telecommunications infrastructure to every corner of the province, enabling sustained innovation, providing access to world-class education programmes, extending critical healthcare technology to more communities, and fueling economic growth. By the end of 2018, TELUS will have invested $23B in Quebec since 2000.
April 15, 2015
09:32 EDTTUTELUS to invest in new infrastructure in British Columbia through 2018
TELUS intends to invest $4B in new infrastructure and facilities across its home province of British Columbia through 2018, including $1B this year alone. When combined with operational expenses, this will bring TELUS' total investment in British Columbia over the next four years to $11.5B. By the end of 2018, TELUS will have invested more than $47B in British Columbia since 2000 to extend the reach of advanced telecommunications infrastructure and healthcare technology, ensuring sustained innovation and fueling the province's economic growth.
April 13, 2015
10:00 EDTBCEOn The Fly: Analyst Upgrade Summary
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09:27 EDTBCEBCE upgraded to Outperform from Sector Perform at Scotia Capital
Scotia upgraded BCE to Outperform based on valuation and higher wireless and wireline estimates.
April 8, 2015
19:36 EDTBCEBell Canada to reevaluate data tracking after regulator criticism, Register says
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April 6, 2015
09:05 EDTTUTELUS to invest $4.2B across Alberta through 2018
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