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Stock Market & Financial Investment News

News Breaks
March 31, 2014
09:28 EDTTAT&T approves new 300M share repurchase authorization
The board of directors of AT&T authorized the repurchase of up to 300 million shares, representing approximately 6% of AT&T common shares outstanding, with no expiration date. This authorization is in addition to three other 300 million share repurchase authorizations approved by the board of directors in December 2010, July 2012 and March 2013. The company completed repurchases under the 2012 share authorization last year. “The board’s authorization reaffirms our confidence in the strength of the business and our commitment to returning value to our shareholders while investing in our networks and operations,” said Randall Stephenson, AT&T chairman and CEO. Under the March 2013 300 million share authorization, AT&T repurchased about 175 million of its shares through March 28, 2014. Since the company began buying back shares in 2012, AT&T has repurchased 775 million of its shares, or approximately 13% of shares outstanding. The company expects to maintain a net-debt-to-adjusted-EBITDA ratio in the 1.8 range or lower. Future repurchase decisions will be made opportunistically.
News For T From The Last 14 Days
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April 15, 2015
06:46 EDTTAT&T files lawsuit to challenge net neutrality order, WSJ says
AT&T filed a lawsuit to overturn the FCC's net neutrality order to reclassify the internet as a telecommunications service, reports the Wall Street Journal. The move is surprising, as AT&T didn't join in prior suits, the Journal adds. Reference Link
April 14, 2015
12:40 EDTTPCTEL lowers FY15 revenue to $124M-$130M from $133M-$138M, two estimates $130M
Following its March 5 acquisition of Nexgen Wireless, PCTEL (PCTI) reported in a regulatory filing earlier that on April 7, Samsung Electronics America, a Samsung (SSNLF) subsidiary, provided Nexgen and PCTEL with a notice of Samsung’s election to terminate, effective April 30, the contractor services agreement between Samsung and Nexgen. Nexgen furnishes services to Samsung under the CSA including Meridian software-based services and contract personnel. The termination applies to the CSA only and will have no effect on other agreements between Samsung and Nexgen or PCTEL. The company continues to forecast 15%-18% revenue growth over FY14 and views the Nexgen acquisition as accretive to earnings in FY15. The company has revised its overall revenue forecast for FY15 in light of reduced business with Samsung, the reduction in capital spending by AT&T (T), and a decline in new network infrastructure investment in the oil and gas market. The company has revised revenue guidance from $133M-$138M to $124M-$130M. Finally, the company and Nexgen have signed a term sheet calling for a material reduction of the total consideration paid or payable by PCTEL for the Nexgen assets, and a material reduction of the equity compensation for which John Thakkar, the founder and president of Nexgen, will be eligible. These reductions seek to align the asset acquisition costs with the revised revenue and EBITDA estimates.
April 13, 2015
20:16 EDTTUSTelecom files net neutrality lawsuit against FCC
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April 8, 2015
13:11 EDTTAT&T to pay $25M civil penalty for consumer privacy violations
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April 7, 2015
07:34 EDTTMobileIron announces availability of AT&T Work Platform
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April 6, 2015
06:45 EDTTQualcomm downgraded to Market Perform from Outperform at FBR Capital
FBR Capital downgraded Qualcomm (QCOM) to Market Perform, removed the stock from its Top Picks list and dropped its price target for shares to $72 from $80. FBR said the moves were prompted by a posting on AT&T's (T) website which said the carrier’s version of the GS6 smarphone is powered by the Samsung Exynos 7420 processor with a Shannon 333 modem as opposed to Qualcomm's Snapdragon platform. FBR still expects the Verizon (VZ) and Sprint (S) GS6 versions to sport Qualcomm modems, but it believes the change at AT&T signals Samsung’s "clear intent to utilize proprietary baseband whenever and wherever possible." Shares of chip maker Qualcomm closed Thursday down $1.46 to $67.97.
April 5, 2015
08:43 EDTTAT&T, Philip Morris, eight others have reliable yields up to 5.7%, Barron's says
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