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Stock Market & Financial Investment News

News Breaks
January 11, 2014
19:22 EDTTAT&T launches exclusive family offer from Beats Music
AT&T announced that beginning Jan. 21, AT&T is introducing a new offer for families to experience the music they love with an exclusive offering from Beats Music. Working together, AT&T and Beats are addressing the challenges that exist with current music subscription services today – lack of unique personalization and high costs to enjoy premium music for the family. With Beats Music, AT&T customers on a multiline account get unlimited streaming music and downloads for offline listening for up to five family members across 10 devices. Each family member can get 24/7 access to more than 20 million songs and a unique curated experience, and the entire cost for the family is $14.99 a month, exclusively from AT&T.AT&T's $14.99 a month offer of Beats Music gives AT&T wireless customers unlimited music access across 10 devices for up to five family members with the first 90 days free. Individual AT&T wireless customers can get the same access across three devices for $9.99 a month with the first 30 days free.
News For T From The Last 14 Days
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November 24, 2014
10:11 EDTTVerizon slips after Citi downgrade on spectrum prices, rising competition
Shares of Verizon (VZ) are falling in early trading after Citigroup downgraded the stock to Neutral from Buy in a note to investors today. WHAT'S NEW: Citigroup analyst Michael Rollins downgraded Verizon, citing the higher than expected price the company will have to pay for wireless spectrum and the increased price competition it is facing. Prices for spectrum currently being auctioned by the FCC are running 36% above Rollins' estimates, the analyst wrote. The higher than expected cost of spectrum implies that the wireless carriers will have higher costs, the analyst explained. Meanwhile, increased competition over consumer prices among the carriers could prevent them from profiting from increased data consumption, Rollins believes. National wireless carriers' outlook for 2015 is unfavorable, warned the analyst, who trimmed his price target on Verizon to $51 from $53. WHAT'S NOTABLE: The total provision winning bids in the AWS-3 auction rose to about $33B after round 26, which was up 3.23% from the prior round, according to data posted to the FCC website on Friday. Companies believed to be bidding in the auction other than Verizon include AT&T (T), T-Mobile (TMUS) and U.S. Cellular (USM). This morning, RBC Capital raised its price target on DISH to $81 from $69, citing the current price points of a spectrum auction. The firm views the price points as a conservative valuation proxy for DISH's AWS-4 spectrum holdings. Analysts at Goldman also raised DISH's price target to $96 from $77 to reflect a higher value for the company's spectrum holdings. PRICE ACTION: In early trading, Verizon fell 2.2% to $49.12, while DISH Network shares rose 3% to $75.86.
06:37 EDTTVerizon downgraded to Neutral from Buy at Citigroup
Citigroup downgraded Verizon (VZ) to Neutral saying it believes the company's earnings will miss expectations in 2015 due to higher costs of spectrum and slower revenue growth amid rising rate plan competition. Citi lowered its price target for shares to $51 from $53. The firm keeps a Neutral rating on AT&T (T) with a $34 price target.
November 23, 2014
12:26 EDTTWireless carriers bid up prices at U.S. spectrum auction, WSJ
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November 21, 2014
16:00 EDTTProvision winning bids in FCC AWS-3 auction hit $33B after round 26
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06:35 EDTTCalifornia AG announces $23.8M settlement with AT&T
California Attorney General Kamala D. Harris and Alameda County District Attorney Nancy E. O’Malley yesterday announced a settlement with AT&T to resolve allegations that hundreds of AT&T’s California facilities unlawfully disposed of hazardous waste and material over a nine-year period. As part of the settlement, AT&T will pay $23.8M. In addition, AT&T will spend an estimated $28M over the next five years to implement the enhanced environmental compliance measures required by the settlement. The settlement and proposed judgment, filed in Alameda County Superior Court, requires approval from the court before becoming final. This is the first enforcement action in California against a telecommunications company for its management of electronic waste. If approved by the court, under the final judgment, AT&T must pay $18.8M in civil penalties and costs. An additional $3M will fund supplemental environmental projects furthering consumer protection and environmental enforcement in California, and AT&T will pay a minimum of $2M to enhance its environmental compliance. The telecom provider will be bound under the terms of a permanent injunction prohibiting similar future violations of law.
November 19, 2014
13:10 EDTTDISH, Globalstar climb as wireless spectrum bids reportedly jump
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07:50 EDTTVerizon trends look strong, says Oppenheimer
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07:19 EDTTSpectrum auction positive for DISH, Globalstar, says JPMorgan
JPMorgan notes the AWS-3 spectrum auction continued on Tuesday with the aggregate value of licenses with bids at $16.4B, up from Monday's $8.9B and compared to the reserve price of $10.6B that the FCC set for the entire auction. The firm views the rise in prices as negative for telecom carriers that are spending more than expected, namely AT&T (T) and Verizon (VZ), and possibly T-Mobile (TMUS) and US Cellular. It views the prices as positive for independent spectrum owners like DISH (DISH) and Globalstar (GSAT), as well as tower companies American Tower (AMT), SBA Communications (SBAC) and Crown Castle (CCI).
06:42 EDTTAT&T says feds may need warrant for location data, WSJ says
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November 18, 2014
11:07 EDTTVOXX unit, AT&T sign international data agreement
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09:31 EDTTAT&T, DirecTV deal receives approval in Mexico
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06:08 EDTTIntel's 'Mica' bracelet to feature Google alerts, AT&T data plan, Re/code says
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November 17, 2014
16:00 EDTTOptions Update; November 17, 2014
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11:39 EDTTAT&T management to meet with Oppenheimer
Meetings to be held in Canada on November 18-19 hosted by Oppenheimer.
November 14, 2014
12:49 EDTTAT&T management to meet with Jefferies
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November 13, 2014
11:07 EDTTGogo interested in buying AT&T spectrum, RGN reports
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