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T

AT&T

$36.97

-0.16 (-0.43%)

08:59
10/09/19
10/09
08:59
10/09/19
08:59

AT&T to sell Puerto Rico, U.S. Virgin Islands units to Liberty Latin America

AT&T announced that it plans to sell its wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands to Liberty Latin America. The transaction includes network assets, including spectrum; real estate and leases; customers, including 1.1M wireless subscribers; and contracts. At close, approximately 1,300 current AT&T employees will move to Liberty Latin America. To ensure a smooth transition for its customers, AT&T will provide certain transition support functions to Liberty Latin America following close of the transaction. Under terms of the agreement, AT&T will retain FirstNet responsibilities and relationships as well as DIRECTV and certain global business customer relationships. The sale does not affect AT&T's FirstNet commitment. AT&T retains its dedicated FirstNet network core and service capabilities. Among other services, post-close Liberty Latin America will support AT&T's FirstNet build in Puerto Rico and the U.S. Virgin Islands, expanding LTE coverage and capacity to best meet the needs of first responders in the region. Eligible first responders subscribing to AT&T's FirstNet services in Puerto Rico and the U.S. Virgin Islands will still have access to the benefits and capabilities of the FirstNet network platform, including priority and preemption. Under the terms of the agreement, AT&T will receive $1.95B in cash at close, subject to customary closing adjustments. The transaction is subject to review by the FCC and the Department of Justice. The two companies expect the deal to close within 6 to 9 months. To reach its de-leveraging goal, AT&T plans to use free cash flow after dividends and to continue monetization initiatives. AT&T has already surpassed its monetization goal of a net $6B-8B in 2019, with a cumulative total of $10B raised year to date - from both asset monetizations and working capital initiatives. With this deal, the total of completed or announced monetization efforts this year is more than $11B. Given the company's confidence in reaching a net debt-to-adjusted EBITDA ratio in the 2.5x range this year, shareholders should expect that share buybacks will be in the mix in the fourth quarter, along with continued de-levering.

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    Oct

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    Oct

  • 19

    Nov

T AT&T
$36.97

-0.16 (-0.43%)

09/18/19
DZBN
09/18/19
DOWNGRADE
Target $38
DZBN
Hold
AT&T downgraded to Hold from Buy at DZ Bank
DZ Bank analyst Matthias Volkert downgraded AT&T to Hold from Buy with a $38 price target.
09/27/19
JPMS
09/27/19
NO CHANGE
Target $425
JPMS
Overweight
JPMorgan reiterates Overweight on Netflix with stock down 12% in seven days
Netflix (NFLX) shares are down 27% since the Q2 earnings report, including down 12% over the past seven trading days, due to increased concern around Q3 net additions, especially in international markets, and heightened competition heading toward year-end and into 2020 from Disney+ (DIS), Apple TV+ (AAPL), and HBO Max (T), JPMorgan analyst Doug Anmuth tells investors in a research note. While the operating environment is changing, global disruption of linear TV is a "strong secular trend" that remains early stage in many international markets, and Netflix will remain a key beneficiary as more people cut the cord, says Anmuth. Further, the analyst believes Netflix has "significant advantages" around data and also its breadth and depth of content. In addition, the bar for Q3 has come down, says Anmuth, who keeps an Overweight rating on Netflix with a $425 price target.
10/04/19
NOMU
10/04/19
NO CHANGE
Target $43
NOMU
Buy
AT&T Q3 results to help stock move towards $43, says Nomura Instinet
Nomura Instinet analyst Jeffrey Kvaal expects AT&T's (T) Q3 results "to be more positive than not," and thus allow the stock to keep working toward his $43 target price. AT&T's reticence to match Verizon's (VZ) price cut implies confidence in wireless, while Elliott Management's activist stake may speed up the company's cost savings and asset sales, Kvaal tells investors in a pre-earnings research note. He keeps a Buy rating on AT&T shares.
10/07/19
RAJA
10/07/19
NO CHANGE
Target $40
RAJA
Outperform
AT&T price target raised to $40 from $35 at Raymond James
Raymond James analyst Frank Louthan reiterated an Outperform rating on AT&T and raised his price target to $40 from $35. Louthan, who adjusted his Q3 revenue and EBITDA estimates to $44.7B and $15.057B, respectively, from $45.6B and $15.125B as well as his Q3 wireless equipment and WarnerMedia revenue estimates to $4B and $8.2B, respectively, from $4.3B and $8.4B, tells investors in a research note that he expects lower upgrade rates to persist into the back half along with a more competitive film slate relative to what the 2018 box office presented. Additionally, the analyst says he thinks that AT&T can find "several billion" of cash cost to take out, if not more, by improving operational efficiencies. He expects a cost cutting plan to be in place when AT&T issues guidance after reporting Q4 results.

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TOL

Toll Brothers

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0.2 (0.51%)

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GBT

Global Blood Therapeutics

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AMGN

Amgen

$200.76

2.05 (1.03%)

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JAZZ

Jazz Pharmaceuticals

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0.62 (0.53%)

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PBI

Pitney Bowes

$4.40

0.04 (0.92%)

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  • 05

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INFY

Infosys

$10.97

-0.22 (-1.97%)

09:13
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  • 11

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ARGO

Argo Group

$67.34

1.4 (2.12%)

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ARW

Arrow Electronics

$74.22

1.095 (1.50%)

, TXN

Texas Instruments

$130.08

2.52 (1.98%)

09:11
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Arrow Electronics

$74.22

1.095 (1.50%)

TXN

Texas Instruments

$130.08

2.52 (1.98%)

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BKI

Black Knight

$61.68

0.39 (0.64%)

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  • 13

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UPS

UPS

$116.06

0.76 (0.66%)

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HON

Honeywell

$163.52

2.63 (1.63%)

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  • 17

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OKTA

Okta

$116.19

1.65 (1.44%)

, PING

Ping Identity

$16.47

0.45 (2.81%)

09:09
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Initiation
Okta, Ping Identity, Zscaler, Crowdstrike initiated  »

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OKTA

Okta

$116.19

1.65 (1.44%)

PING

Ping Identity

$16.47

0.45 (2.81%)

ZS

Zscaler

$48.16

0.81 (1.71%)

CRWD

Crowdstrike

$60.24

-1.08 (-1.76%)

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ERIC

Ericsson

$8.44

0.2 (2.43%)

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  • 17

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OSTK

Overstock.com

$10.67

-0.18 (-1.66%)

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CMTL

Comtech

$31.24

0.51 (1.66%)

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RETA

Reata Pharmaceuticals

$95.80

9.86 (11.47%)

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WEN

Wendy's

$20.76

0.76 (3.80%)

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LAND

Gladstone Land

$11.87

(0.00%)

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  • 07

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LMAT

LeMaitre

$31.29

-0.03 (-0.10%)

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  • 23

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HUBS

HubSpot

$163.05

2.975 (1.86%)

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  • 19

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GWPH

GW Pharmaceuticals

$114.35

-3.8 (-3.22%)

09:04
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LAND

Gladstone Land

$11.87

(0.00%)

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  • 07

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LMAT

LeMaitre

$31.29

-0.03 (-0.10%)

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  • 23

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