That makes AT&T and Verizon still the better bets for conservative income seekers, despite recent underperformance.That pair will announce Q2 results and update guidance July 23 and 24, respectively. Owners of Sprint stock would receive a little over one-tenth of a T-Mobile share in such a deal. *Real-time prices by Nasdaq Last Sale.
But there's good news for long-suffering Sprint investors: Its … Let us know a little bit about you so we can give you the best information possible. T-Mobile CEO John Legere called the ruling … And it sold $4 billion in new bonds, which should ease refinancing for the $6.3 billion in maturing debt over the next 18 months.That’s a decidedly mixed bag of news for a company now carrying $64.3 billion in debt, virtually all sub-investment grade. The states argue that it will take Dish years and billions of dollars to build a competitive nationwide network. The Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. And that’s even while spending just $9.7 billion on 2020 network CAPEX, less than half the budgets of AT&T and Verizon.Nonetheless, T-Mobile shares have continued to climb, hitting a new all-time high last week as well as record multiples to book value and cash flow. The S&P 500 has returned 9% over that same period. After a robust decade and a half following 1996 deregulation, large US telecom M&A has virtually evaporated since. The exception: The merger of what were America’s third and fourth-largest wireless communications companies was anticipated long before the official announcement in April 2018. Either way, removing long-lasting deal uncertainty is a positive catalyst for the stock. Sprint's stock surged 6% and moved back into double digit territory after T-Mobile (TMUS) announced late Thursday that the two companies had tweaked the terms of their merger deal. Welcome. But more important, thanks to persevering with the Sprint merger, it finally has sufficient scale for this "get big or go home" industry. “That said, the market is increasingly shifting to three players anyway with Sprint challenged to invest at competitive levels.”Hodulik estimates that T-Mobile stock would be worth $60 if the deal is blocked, 14% lower than its price on Monday morning. The Justice Department, Federal Trade Commission, and Federal Communications Commission have all signed off on the merger, thanks to concessions that would effectively have Dish Network (DISH) replace Sprint as the No. They claim the merger will limit competition. T-Mobile stock surged 11.8% to 94.49, jumping above an entry point of 85.32. “And it hasn’t gotten any easier as Sprint’s condition has continued to weaken as the case drags on. “We would return right away to the strategy that is familiar, including stock buybacks, including looking into the marketplace to see if there are other opportunities for spectrum, and growing our company with a focus on balancing growth and profitability,” chief operating officer Mike Sievert told investors in December. That’s also when management has promised to reinstate calendar year 2020 guidance, pulled in early May due to Covid-19 related uncertainty and "accounting policy alignment work" regarding Sprint.About a week ago, management updated investors on several key concerns. T-Mobile shares also spiked 12% early trading Tuesday. “The market has struggled with the question of whether T-Mobile would be better off with the deal or without,” says veteran telecom analyst Craig Moffett of MoffettNathanson. ET on The Wall Street Journal Miners Look to Cash In on Cobalt Demand To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.https://www.barrons.com/articles/t-mobile-stock-is-a-winner-sprint-merger-or-not-51580315155The self-named “uncarrier” spent years poking at rivals with gimmicks, slogans, and, most important, lower prices. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law.