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T-Mobile Ready to Close Sprint Deal After Defeating State Suit

February 11, 2020 admin Comments Off on T-Mobile Ready to Close Sprint Deal After Defeating State Suit

(Bloomberg) — T-Mobile US Inc. is poised to close its long-sought merger with Sprint Corp., a deal that will reshape the U.S. wireless industry, after winning approval from a federal judge who rejected a state lawsuit against the tie-up.The two companies said Tuesday they expect to close as soon as April 1 after U.S. District Court Judge Victor Marrero in Manhattan said the states failed to persuade him that a merger of the No. 3 and 4 carriers would harm consumers.“Today was a huge victory for this merger,” T-Mobile Chief Executive Officer John Legere said in a statement. “We are …read more […]

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Under Armour Stumbles on Path to Recovery With 2020 Warning

February 11, 2020 admin Comments Off on Under Armour Stumbles on Path to Recovery With 2020 Warning

(Bloomberg) — For the past few months, Under Armour Inc. executives have promised that 2020 would be the coming-out party of a brand-new company, a shift from defense to offense after a multiyear restructuring and a change in leadership.Tuesday, they went back on the defensive. After revealing fourth-quarter results and 2020 projections that trailed analysts’ expectations, the company issued a sobering set of expectations for investors.Revenue in 2020 will trail the consensus estimate of $5.51 billion by a wide margin. The coronavirus could hurt sales by $60 million in the next few months, with more harm down the line. And …read more […]

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3 Under-The-Radar Dividend Stocks With Over 7% Dividend Yield

February 11, 2020 admin Comments Off on 3 Under-The-Radar Dividend Stocks With Over 7% Dividend Yield

Investors are always on the prowl for high returns. They can look for this in the traditional places, of course, the Apples and the Amazons and the Googles, where shares appreciate at fast rates, or they can look at the Microsofts and Mastercards and JPMorgans, where steady share gains are paired with steady dividends. These are viable strategies. But sometimes, investors like to follow the roads less traveled.The average dividend yield among stocks listed in the S&P 500 index is only 2%. This is – just slightly – higher than Treasury bond yields. But it’s also just an average. There …read more […]

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T-Mobile Wins Court Approval for $26.5 Billion Sprint Deal

February 11, 2020 admin Comments Off on T-Mobile Wins Court Approval for $26.5 Billion Sprint Deal

(Bloomberg) — T-Mobile US Inc. won court approval for its $26.5 billion takeover of Sprint Corp., defeating a state-led lawsuit that sought to block the industry-altering wireless deal.The decision by a district judge in Manhattan is a huge win for T-Mobile and its owner Deutsche Telekom AG, as well as SoftBank Group Corp., Sprint’s parent. The combined company, which will operate under the T-Mobile name, will have a regular monthly subscriber base of about 80 million — in the same league as AT&T Inc., which has 75 million subscribers, and Verizon Communications Inc., which has 114 million.After the merger, T-Mobile …read more […]

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Under Armour forecasts surprise sales drop, coronavirus hit; shares fall

February 11, 2020 admin Comments Off on Under Armour forecasts surprise sales drop, coronavirus hit; shares fall

The company said it expects revenue in North America, its biggest, to decline at a mid- to high-single-digit percentage rate, while its international market is expected to rise. Under Armour, known for its moisture-wicking fabric worn by star athletes, has been struggling to grow sales in its home market due to new launches by larger rivals Nike Inc and Adidas and heavy promotions at department stores. Under Armour also estimated a $325 million to $425 million in pre-tax charges as part of its restructuring initiative this year, which will include foregoing opening a flagship store in …read more […]

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Oil Prices Signal Glut as Virus Pushes Brent into Contango

February 11, 2020 admin Comments Off on Oil Prices Signal Glut as Virus Pushes Brent into Contango

(Bloomberg) — Oil prices indicated that global markets face a renewed surplus as Asia’s coronavirus hits demand, with discounts on prompt supplies emerging across the Brent futures curve.Brent crude has moved into a full “contango” structure in which each monthly contract is cheaper than the next, suggesting a glut in supply. Global demand estimates are being cut as the outbreak causes severe economic disruption in China, while OPEC is hesitating over steps to support prices.As the glut begins to accumulate, leading oil traders such as Vitoil SA, Royal Dutch Shell Plc and Litasco SA are seeking to hoard crude on …read more […]