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T

AT&T

$42.63

-0.14 (-0.33%)

, TWX

Time Warner

$95.01

-1.7 (-1.76%)

13:58
01/05/17
01/05
13:58
01/05/17
13:58

Trump Effect: AT&T, Time Warner dip as President-elect said to oppose merger

Shares of AT&T (T) and Time Warner (TWX) are lower following a report that President-elect Donald Trump considers their proposed merger a "bad deal." BLOOMBERG SAYS TRUMP OPPOSES DEAL: According to sources quoted by Bloomberg, Donald Trump is still opposed to the pending combination of AT&T and Time Warner because he believes it "would concentrate too much power in the media industry." Bloomberg's sources noted that Trump told a friend in recent weeks that he still views the merger as a "bad deal," adding that chief strategist Steve Bannon also opposes the merger. Trump was critical of the deal during the campaign trail but has stayed silent on the topic for several months, Bloomberg noted. PRICE ACTION: Shares of AT&T are fractionally lower while Time Warner is down 1.5%. Notably, T-Mobile (TMUS) and Sprint (S) are also lower by 2.1% and 0.7% following the report. Speculation of a potential merger between the two has increased in recent weeks following Sprint chairman Masayoshi Son's overtures to Trump in early December.

T

AT&T

$42.63

-0.14 (-0.33%)

TWX

Time Warner

$95.01

-1.7 (-1.76%)

TMUS

T-Mobile

$58.82

0.5 (0.86%)

S

Sprint

$8.76

-0.035 (-0.40%)

  • 05

    Jan

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    Jan

  • 08

    Feb

T AT&T
$42.63

-0.14 (-0.33%)

12/12/16
12/12/16
UPGRADE
Target $44

Outperform
AT&T upgraded to Outperform on media moves, deregulation hopes at Baird
As previously reported, Baird analyst William Power upgraded AT&T (T) to Outperform from Neutral, saying he is positive on the recent media moves, and believes the Trump administration's focus on deregulation and lower tax rates can be a tailwind. He raised his price target on AT&T, which has agreed to acquire Time Warner (TWX), to $44 from $39.
12/12/16
12/12/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. ConocoPhillips (COP) upgraded to Outperform from Market Perform at Cowen with analyst Charles Robertson II saying that the company has positioned itself for significant earnings before interest, tax, depreciation and amortization and cash flow growth despite relatively flat production in 2017. 2. Hanesbrands (HBI) upgraded to Buy from Neutral at CL King and to Buy from Neutral at DA Davidson. 3. AT&T (T) upgraded to Outperform from Neutral at Baird with analyst William Power saying he is positive on the recent media moves, and believes the Trump administration's focus on deregulation and lower tax rates can be a tailwind. 4. Web.com (WEB) upgraded to Overweight from Neutral at JPMorgan with analyst Sterling Auty citing valuation with the shares down 12% year-to-date. 5. lululemon (LULU) upgraded to Market Perform from Underperform at FBR Capital with analyst Susan Anderson saying the company's same-store-sales and gross margin performance in the third quarter were much better than expected. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/23/16
BMUR
12/23/16
DOWNGRADE
BMUR
Hold
Time Warner downgraded to Hold from Buy at Brean Capital
Brean Capital analyst Alan Gould downgraded Time Warner (TWX) to Hold saying the arbitrage discount to the AT&T (T) offer has shrunk to 12%, down from the high-teens. Time Warner shares now trade above the analyst's fundamental value of the low $90's. Gould also believes other names in the group have become more attractive, namely CBS (CBS) and 21st Century Fox (FOXA). Gould this morning also raised his price target for CBS to $75 from $65. He kept a Buy rating on the shares.
12/23/16
12/23/16
NO CHANGE

On The Fly: Top five analyst actions
Catch up on today's top five analyst upgrades, downgrades and initiations with this list compiled by The Fly: 1. Brean Capital analyst Alan Gould downgraded Time Warner (TWX) to Hold from Buy, saying the arbitrage discount to the AT&T (T) offer has shrunk to 12%, down from the high-teens, and Time Warner shares now trade above his fundamental value estimate in the low $90's. 2. Argus downgraded Sun Life Financial (SLF) to Hold from Buy, with analyst Jacob Kilstein citing valuation and what he sees as "weakness in the core Canadian business, lower margins, the negative impact of a strengthening Canadian dollar," along with the company's suspension of share repurchases. 3. FedEx (FDX) initiated with a Buy at Aegis. The firm also initiated shipping peer UPS (UPS) with a Hold rating. 4. Video game retailer GameStop (GME) initiated with a Buy at Mizuho, which also started coverage of video game makers Zynga (ZNGA) and Glu Mobile (GLUU) with ratings of Buy and Neutral, respectively. 5. Skechers (SKX) upgraded to Buy from Neutral at Monness Crespi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
TWX Time Warner
$95.01

-1.7 (-1.76%)

01/03/17
EVER
01/03/17
UPGRADE
Target $108
EVER
Buy
Time Warner upgraded to Buy from Hold at Evercore ISI
Evercore ISI analyst Vijay Jayant upgraded Time Warner to Buy and raised its price target to $108 from $95.
TMUS T-Mobile
$58.82

0.5 (0.86%)

01/05/17
FBRC
01/05/17
NO CHANGE
Target $11
FBRC
Outperform
Sprint price target raised to $11 from $8 at FBR Capital
FBR Capital analyst David Dixon raised his price target for Sprint (S) to $11 saying the introduction of higher-power devices this year should drive improved subscriber and free cash flow growth. The passage of the High Power User Equipment by the 3GPP standards body should raise Sprint's spectrum-portfolio value, increasing the asset's appeal across the industry as well as the probability of a merger with T-Mobile (TMUS) under a new Republican-led Administration, Dixon tells investors in a research note. He keeps an Outperform rating on Sprint shares.
12/21/16
OPCO
12/21/16
NO CHANGE
OPCO
T-Mobile could be worth $80/share in potential takeover, says Oppenheimer
Oppenheimer analyst Timothy Horan continues to believe that either Comcast (CMCSA; CMCSK) or Sprint (S) is the likely merger partner for T-Mobile (TMUS), potentially prompting a bidding war. Moreover, the analyst believes it is not unreasonable for Comcast or Sprint to pay $80/share for T-Mobile, or even higher. Commenting on Microsoft's (MSFT) valuation, Horan says he examined the sum of its parts, valuing Azure, its Cloud Software, and "legacy Microsoft" to arrive at a conservative $70 valuation. Additionally, he sees a major inflection in top/bottom-line growth in 2019 as Microsoft's cloud services, specifically Azure, grow more rapidly/profitably than the Wall Street expects.
12/07/16
OPCO
12/07/16
NO CHANGE
Target $70
OPCO
Outperform
T-Mobile price target raised to $70 from $55 at Oppenheimer
Oppenheimer analyst Timothy Horan raised his price target for T-Mobile (TMUS) to $70 from $55 as he views it as the best way to play the deregulatory/technology driven consolidation. The analyst notes that President-Elect Trump met with Masayoshi Son of SoftBank (SFTBF), who agreed to invest $50B in the U.S. Horan believes the meeting will likely be a precursor to a Sprint (S)/T-Mobile/Dish (DISH) merger to create a discounted quad-play service company. The analyst reiterates an Outperform rating on T-Mobile' shares, and points out that the company has improved its network and taken share from AT&T (T)/Verizon (VZ).
12/05/16
NEED
12/05/16
NO CHANGE
Target $58
NEED
Buy
Gigamon setting up well for the next 12-24 months, says Needham
Needham analyst Alex Henderson believes Gigamon (GIMO) looks to be setting up well for the next 12-24 months, and believes its investors can look forward to a "sharp expansion" in Service Provider on the heels of the Verizon (VZ) win and continued expansion at AT&T (T) and T-Mobile (TMUS). Moreover, the analyst anticipates a rebound in Europe as the new sales head revitalizes growth into CY2H, and expects "strong growth" in cloud as the Amazon (AMZN) Web Services platform starts to ramp in 2H17 and into CY18. Additionally, Henderson thinks Gigamon is likely to "strongly beat" the Q4 quarter. He reiterates a Buy rating and $58 price target on Gigamon's shares.
S Sprint
$8.76

-0.035 (-0.40%)

11/21/16
DBAB
11/21/16
NO CHANGE
DBAB
Buy
Deutsche says buy American Tower, Crown Castle after pullbacks
Deutsche Bank analyst Matthew Niknam recommends buying shares of American Tower (AMT) and Crown Castle (CCI) following the recent selloffs. The analyst thinks estimates have bottomed, fundamentals are "very strong" and that fears of a possible Sprint (S) and T-Mobile (TMUS) merger are overblown.

TODAY'S FREE FLY STORIES

JPM

JPMorgan

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0.37 (0.44%)

15:23
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Sempra Energy

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0.36 (0.35%)

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Tesla

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Sempra Energy

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TSLA

Tesla

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GM

General Motors

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F

Ford

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QCOM

Qualcomm

$62.88

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Apple

$120.00

0.22 (0.18%)

15:07
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Hot Stocks
Qualcomm responds to Apple suit, says actively encouraged regulatory attacks »

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$62.88

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Apple

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GRAM

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15:04
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Grana y Montero says Peru pipeline won't meet financial closing deadline »

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BOH

Bank of Hawaii

$88.27

1.24 (1.42%)

15:00
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Bank of Hawaii appoints Shigemura as CFO, Lucien as strategy chief »

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ASML

ASML

$122.05

0.19 (0.16%)

, AMAT

Applied Materials

$33.84

0.09 (0.27%)

14:29
01/22/17
01/22
14:29
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14:29
Periodicals
Applied Materials, ASML offer divergent risks, rewards, Barron's says »

As tech giants continue…

ASML

ASML

$122.05

0.19 (0.16%)

AMAT

Applied Materials

$33.84

0.09 (0.27%)

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ZBH

Zimmer Biomet

$113.65

-0.93 (-0.81%)

, VIA

Viacom

$44.40

1.15 (2.66%)

14:19
01/22/17
01/22
14:19
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14:19
Periodicals
Mario Gabelli: Viacom could double in three years, Barron's says »

Speaking in the 2017…

ZBH

Zimmer Biomet

$113.65

-0.93 (-0.81%)

VIA

Viacom

$44.40

1.15 (2.66%)

VIAB

Viacom

$40.23

0.43 (1.08%)

HRI

Herc Rentals

$43.12

-0.05 (-0.12%)

CNHI

CNH Industrial

$9.25

0.21 (2.32%)

FIZZ

National Beverage

$47.14

0.82 (1.77%)

LYV

Live Nation

$27.43

0.09 (0.33%)

03/08/13
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KSU

Kansas City Southern

$87.91

3.41 (4.04%)

14:15
01/22/17
01/22
14:15
01/22/17
14:15
Conference/Events
Kansas City Southern management to meet with Loop Capital »

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FRTA

Forterra

$19.47

0.2 (1.04%)

14:06
01/22/17
01/22
14:06
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14:06
Conference/Events
Forterra management to meet with RBC Capital »

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JE

Just Energy

$5.55

0.04 (0.73%)

14:03
01/22/17
01/22
14:03
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14:03
Conference/Events
Just Energy management to meet with RBC Capital »

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PRU

Prudential

$105.59

0.83 (0.79%)

14:01
01/22/17
01/22
14:01
01/22/17
14:01
Conference/Events
Prudential management to meet with RBC Capital »

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NFLX

Netflix

$138.60

0.19 (0.14%)

13:53
01/22/17
01/22
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'Risky' to bet against Netflix, Barron's says »

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CYNO

Cynosure

$43.85

-0.15 (-0.34%)

, AGN

Allergan

$214.34

-0.24 (-0.11%)

13:48
01/22/17
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13:48
Periodicals
Cynosure explores strategic alternatives, Bloomberg says »

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CYNO

Cynosure

$43.85

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AGN

Allergan

$214.34

-0.24 (-0.11%)

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CF

CF Industries

$34.20

1.95 (6.05%)

13:41
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CF Industries investors should take profits, Barron's says »

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DIS

Disney

$107.66

0.38 (0.35%)

13:36
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Disney remains challenged, Barron's says »

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YHOO

Yahoo

$42.05

-0.04 (-0.10%)

, VZ

Verizon

$52.72

0.36 (0.69%)

13:28
01/22/17
01/22
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13:28
Periodicals
Yahoo looks appealing, Barron's says »

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YHOO

Yahoo

$42.05

-0.04 (-0.10%)

VZ

Verizon

$52.72

0.36 (0.69%)

BABA

Alibaba

$96.06

-0.11 (-0.11%)

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PDCO

Patterson Companies

$40.84

0.15 (0.37%)

, XRAY

Dentsply Sirona

$56.01

0.34 (0.61%)

13:10
01/22/17
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Periodicals
Patterson Companies could offer 20% return, Barron's says »

The recent decline in…

PDCO

Patterson Companies

$40.84

0.15 (0.37%)

XRAY

Dentsply Sirona

$56.01

0.34 (0.61%)

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GME

GameStop

$23.58

0.27 (1.16%)

12:52
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GameStop could be a winner, Barron's says »

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GOOG

Alphabet

$805.02

2.845 (0.35%)

, GOOGL

Alphabet Class A

$828.17

3.8 (0.46%)

12:41
01/22/17
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Alphabet could top $1,000 in a year, Barron's says »

Shares of Alphabet look…

GOOG

Alphabet

$805.02

2.845 (0.35%)

GOOGL

Alphabet Class A

$828.17

3.8 (0.46%)

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SKLN

Skyline Medical

$2.30

-0.12 (-4.96%)

16:50
01/21/17
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01/21/17
16:50
Conference/Events
Skyline Medical to host special shareholder meeting »

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SYMC

Symantec

$26.65

0.09 (0.34%)

, LOCK

LifeLock

$23.93

-0.01 (-0.04%)

16:38
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01/21
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16:38
Conference/Events
LifeLock to host special shareholder meeting »

Special Shareholder…

SYMC

Symantec

$26.65

0.09 (0.34%)

LOCK

LifeLock

$23.93

-0.01 (-0.04%)

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CMLS

Cumulus Media

16:25
01/21/17
01/21
16:25
01/21/17
16:25
Conference/Events
Cumulus Media to host special shareholder meeting »

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AREX

Approach Resources

$3.17

0.03 (0.96%)

16:20
01/21/17
01/21
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16:20
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Approach Resources to host special shareholder meeting »

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ERI

Eldorado Resorts

$15.50

-0.05 (-0.32%)

, ISLE

Isle of Capri

$23.75

-0.04 (-0.17%)

15:49
01/21/17
01/21
15:49
01/21/17
15:49
Conference/Events
Isle of Capri to host special shareholder meeting »

Special Shareholder…

ERI

Eldorado Resorts

$15.50

-0.05 (-0.32%)

ISLE

Isle of Capri

$23.75

-0.04 (-0.17%)

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ISLE

Isle of Capri

$23.75

-0.04 (-0.17%)

, ERI

Eldorado Resorts

$15.50

-0.05 (-0.32%)

15:45
01/21/17
01/21
15:45
01/21/17
15:45
Conference/Events
Eldorado Resorts to host special shareholder meeting »

Special Shareholder…

ISLE

Isle of Capri

$23.75

-0.04 (-0.17%)

ERI

Eldorado Resorts

$15.50

-0.05 (-0.32%)

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