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S

Sprint

$6.00

-0.02 (-0.33%)

, TMUS

T-Mobile

$62.92

-0.21 (-0.33%)

07:24
04/12/18
04/12
07:24
04/12/18
07:24

T-Mobile, Sprint merger logic, still difficult to consummate, says Oppenheimer

Oppenheimer analyst Timothy Horan notes that The Wall Street Journal reported on revived preliminary merger talks after T-Mobile (TMUS)/Sprint (S) ended previous M&A discussions five months ago. The analyst believes a merger offers long-term value for both companies through better scale and synergies, but friction will center on control, relative valuation and regulatory approval concessions, which need to be agreed upon up-front. Ultimately, Horan thinks the industry will consolidate to four large companies that will all offer a quad-play service, one possibility being T-Mobile/Sprint, AT&T (T), Verizon (VZ)/Dish (DISH) and a combination of the cable companies/wireless assets.

S

Sprint

$6.00

-0.02 (-0.33%)

TMUS

T-Mobile

$62.92

-0.21 (-0.33%)

T

AT&T

$35.25

-0.56 (-1.56%)

VZ

Verizon

$47.58

-0.69 (-1.43%)

DISH

Dish

$38.84

-0.4 (-1.02%)

  • 25

    Apr

  • 07

    May

  • 09

    May

S Sprint
$6.00

-0.02 (-0.33%)

04/11/18
MSCO
04/11/18
NO CHANGE
MSCO
Morgan Stanley says watch Sprint capex as T-Mobile talks said to restart
After The Wall Street Journal reported that T-Mobile (TMUS) and Sprint (S) have resumed merger talks, Morgan Stanley analyst Simon Flannery noted that Sprint announced plans to accelerate network capex after the merger plans fell apart last time. If Sprint's capex comes in light this quarter and/or next quarter, it may be seen as potentially related to renewed conversations with T-Mobile as it could suggest Sprint has pushed off its investment plans, Flannery tells investors. Noting that Tower stocks sold off following the Journal's report, Flannery pointed out that the companies each disclosed direct overlaps in late 2016 of about 5% on average. Total consolidated combined T-Mobile/Sprint exposure for American Tower (AMT) was about 16%, was about 35% for Crown Castle (CCI) and was about 33% for SBA Communications (SBAC), all as of Q4 of 2017, the analyst stated.
04/11/18
JEFF
04/11/18
NO CHANGE
JEFF
T-Mobile, Sprint deal has more hurdles than AT&T, Time Warner, says Jefferies
A horizontal merger between T-Mobile (TMUS) and Sprint (S) poses more significant regulatory hurdles than the contested AT&T (T), Time Warner (TWX) deal does, Jefferies analyst Scott Goldman tells investors in a research note after the Wall Street Journal reported the two companies are again in merger talks. The analyst believes potential regulatory remedies could include meaningful spectrum divestitures. With that said, he thinks the combined company would create "meaningful accretion," with free cash flow per share nearly 30% higher in year three. Using multiple analysis, Goldman thinks T-Mobile shares could be worth more than $88 in a deal scenario. The stock closed yesterday up 3.4% to $63.13. Further, the analyst recommends buying the tower stocks on yesterday's selloff given his view of significant regulatory hurdles for a Sprint, T-Mobile deal. He has Buy ratings on American Tower (AMT), Crown Castle (CCI) and SBA Communications (SBAC).
04/11/18
KEYB
04/11/18
NO CHANGE
KEYB
Key issue in potential Sprint, T-Mobile deal still control, says KeyBanc
KeyBanc analyst Brandon Nispel notes that The Wall Street Journal reported that Sprint (S) and T-Mobile (TMUS) have restarted merger talks that only officially ended in November. The analyst believes the key issue, control of the combined entity, likely remains the same, and if a deal is back on the table he expects Sprint to give up control to T-Mobile in order to get a deal done.
04/11/18
BWSF
04/11/18
NO CHANGE
BWSF
Buy
Shenandoah could benefit from Sprint, T-Mobile deal talk, says BWS Financial
BWS Financial analyst Hamed Khorsand noted that shares of Shenandoah (SHEN), a Sprint (S) affiliate for certain markets in the Mid-Atlantic region, began to price in the potential of being a winner the last time media reports indicated there were merger talks between Sprint and T-Mobile (TMUS). With the talks said to be rekindled, he would expect Shenandoah's stock to see some increase in value in the near-term and he also believes the terms of an agreement with Sprint could unlock value for Shenandoah. Khorsand maintains a Buy rating on the stock.
TMUS T-Mobile
$62.92

-0.21 (-0.33%)

T AT&T
$35.25

-0.56 (-1.56%)

04/04/18
SPIN
04/04/18
INITIATION
Target $41
SPIN
Buy
AT&T initiated with a Buy at Spin-Off Research
Spin-Off Research initiated AT&T with a Buy and $41 price target.
03/28/18
03/28/18
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. Verizon (VZ) and AT&T (T) were upgraded to Buy from Hold at HSBC. 2. Unilever (UN, UL) upgraded to Buy from Neutral at UBS with analyst Pinar Ergun saying the 17% pullback in the shares since the October 2017 peak has created a "compelling" entry point. 3. Rockwell Automation (ROK) upgraded to Outperform from Market Perform at Wells Fargo with analyst Richard Kwas saying the company's fiscal 2018 organic growth "has room to outperform" while its fiscal 2017 restructuring should yield "steady margin benefits" into fiscal 2019. 4. Jacobs Engineering (JEC) upgraded to Buy from Neutral at MKM Partners with analyst Daniel Scott saying he is positive on the combination with CH2M and expects the company to benefit from increased spending on defense and infrastructure. 5. Burberry (BURBY) upgraded to Buy from Neutral at Goldman Sachs with analyst Louise Singlehurst citing increased confidence in the medium-term outlook for European luxury growth. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/04/18
04/04/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. AT&T (T) initiated with a Buy at Spin-Off Research. 2. Spotify (SPOT) initiated with a Hold at Gabelli. 3. Wix.com (WIX) initiated with an Outperform at William Blair. 4. SodaStream (SODA) initiated with a Buy at B. Riley FBR. 5. Booking Holdings (BKNG) initiated with an Outperform at Wedbush while Expedia (EXPE), TripAdvisor (TRIP), and Trivago (TRVG) were initiated with a Neutral. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
VZ Verizon
$47.58

-0.69 (-1.43%)

03/22/18
JPMS
03/22/18
NO CHANGE
JPMS
Neutral
Synchronoss renewal with Verizon should ease concerns, says JPMorgan
JPMorgan analyst Sterling Auty called Synchronoss Technologies' (SNCR) renewal with Verizon (VZ) to support the latter's cloud for five more years a "significant positive," as he believes the pact should alleviate a lot of the concerns that the company would potentially lose their largest customer. Auty, who thinks this news should provide near-term relief to the stock, keeps a Neutral rating on Synchronoss shares.
03/28/18
HSBC
03/28/18
UPGRADE
Target $55
HSBC
Buy
Verizon upgraded to Buy from Hold at HSBC
HSBC analyst Sunil Rajgopal upgraded Verizon Communications to Buy and raised his price target for the shares to $55 from $52.
04/05/18
ADAM
04/05/18
NO CHANGE
Target $15
ADAM
Buy
Canaccord positive on Moviefone acquisition by MoviePass
Canaccord analyst is Austin Moldow notes that Helios and Matheson (HMNY) has completed the acquisition of Moviefone assets from Oath, a subsidiary of Verizon (VZ). The analyst believes this deal gives MoviePass the opportunity to convert a large number of users into subscribers and provides a platform for enhanced studio marketing and user engagement. MoviePass will leverage the Moviefone brand and audience for subscriber conversion, he contends, adding that he estimates the overlap of Moviefone users and MoviePass subs is fairly minimal. Moldow reiterates a Buy rating and $15 price target on Helios and Matheson shares.
DISH Dish
$38.84

-0.4 (-1.02%)

03/23/18
MOFT
03/23/18
UPGRADE
Target $37
MOFT
Neutral
Dish upgraded to Neutral on valuation at MoffettNathanson
MoffettNathanson analyst Craig Moffett upgraded Dish to Neutral from Sell citing valuation and maintained a $37 price target.
03/01/18
RHCO
03/01/18
NO CHANGE
Target $44
RHCO
Hold
Dish price target lowered to $44 from $60 at SunTrust
SunTrust analyst Greg Miller lowered his price target on Dish to $44 after the company's "another lackluster" quarter of earnings that highlighted "deteriorating fundamentals" in DBS business and little change to wireless/spectrum strategies. The analyst keeps his Hold rating, stating that Dish's higher-ARPU DBS declines will continue to outpace Sling net additions, weighing on its near term financial results. Miller adds that the DBS to OTT transition will also create headwinds, while viewing any spectrum monetization as "not imminent".
02/22/18
JEFF
02/22/18
NO CHANGE
Target $80
JEFF
Buy
Dish removed from Franchise Pick list at Jefferies
Jefferies analyst Scott Goldman removed Dish from his firm's Franchise Pick list following the company's Q4 results. The analyst maintains a Buy rating on the shares with an $80 price target. Dish remains undervalued as its spectrum value remains underappreciated, Goldman tells investors in a post-earnings research note. He points out, however, that the company is no longer one of his highest conviction names as spend for a network build ramps and the potential for spectrum monetization is limited in the near-term given ongoing wireless carrier initiatives to add capacity.
02/22/18
DBAB
02/22/18
NO CHANGE
Target $110
DBAB
Buy
Deutsche sees 'compelling' risk/reward for Dish, keeps $110 target
Dish's wireless spectrum portfolio and strategic optionality create a "compelling" risk/reward profile, Deutsche Bank analyst Bryan Kraft tells investors in a research note titled "Playing The Long Game With Limited Downside" following the company's Q4 results. The analyst keeps a Buy rating on the shares with a $110 price target. He admits, however, that the secular headwinds facing Dish's pay TV business are still challenging.

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OPTN

Optinose

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$49.94

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$NSD

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CSBR

Champions Oncology

$7.80

0.315 (4.21%)

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$284.02

1.89 (0.67%)

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S&P 500

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SPY

SPDR S&P 500 ETF Trust

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A

Agilent

$67.01

1.06 (1.61%)

15:04
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Options
Agilent options imply 9.7% move in share price post-earnings, above median historical move »

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CLF

Cleveland-Cliffs

$9.97

-0.235 (-2.30%)

15:00
08/14/18
08/14
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Options
15K Cleveland Cliffs Aug - Oct 8 call spreads bought for 17c »

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Treasury Closing Summary: »

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WMT

Walmart

$90.90

1.24 (1.38%)

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  • 16

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SPR

Spirit AeroSystems

$86.53

-0.23 (-0.27%)

14:57
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Spirit AeroSystems VP Michelle Lohmeier sells almost $300K in company stock »

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SPOT

Spotify

$193.85

2.4 (1.25%)

, UXIN

Uxin

$5.54

-0.61 (-9.92%)

14:57
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Tiger Global adds Spotify and Adobe, exits United Continental »

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SPOT

Spotify

$193.85

2.4 (1.25%)

UXIN

Uxin

$5.54

-0.61 (-9.92%)

COUP

Coupa Software

$67.20

1.66 (2.53%)

ADBE

Adobe

$255.81

2.23 (0.88%)

GDS

GDS Holdings

$30.05

-2.58 (-7.91%)

EHIC

eHi Car Services

$12.90

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ARCC

Ares Capital

$17.37

0.015 (0.09%)

UAL

United Continental

$81.84

0.58 (0.71%)

TWTR

Twitter

$33.04

0.24 (0.73%)

FB

Facebook

$180.91

0.83 (0.46%)

NOW

ServiceNow

$184.66

-0.38 (-0.21%)

MLI

Mueller Industries

$31.95

0.18 (0.57%)

RUN

Sunrun

$12.99

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RDFN

Redfin

$18.04

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JD

JD.com

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TDG

TransDigm

$355.86

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MSFT

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$109.51

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AMZN

Amazon.com

$1,915.47

19.96 (1.05%)

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DENN

Denny's

$14.66

0.12 (0.83%)

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WPM

Wheaton Precious Metals

$19.94

-0.1 (-0.50%)

14:49
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Options
Wheaton Precious Metals options imply 5.1% move in share price post-earnings, above median historical move »

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  • 15

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DWSN

Dawson Geophysical

$5.90

0.04 (0.68%)

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Dawson Geophysical director William Barrett buys over $100K in stock »

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FB

Facebook

$180.92

0.84 (0.47%)

, GOOG

Alphabet

$1,242.00

6.9 (0.56%)

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FB

Facebook

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0.84 (0.47%)

GOOG

Alphabet

$1,242.00

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Conference/Events
William Blair SaaS analyst to hold a group luncheon »

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GLF

GulfMark Offshore

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KR

Kroger

$30.38

0.63 (2.12%)

, BABA

Alibaba

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KR

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BABA

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14:43
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Stephens retail/hardlines analyst to hold luncheon meeting »

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TWTR

Twitter

$33.03

0.23 (0.70%)

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  • 28

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PLNT

Planet Fitness

$51.74

2.75 (5.61%)

14:40
08/14/18
08/14
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14:40
Options
Bullish flow in Planet Fitness as shares rebound »

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PYPL

PayPal

$87.59

0.56 (0.64%)

14:30
08/14/18
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14:30
Options
Bullish option play opened in Paypal »

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