: T-Mobile US sets $19 billion shareholder return program, including first-ever dividend payment

Wednesday, 6 September 2023, 19:55:00
Shares of T-Mobile US Inc. TMUS fell 1.1% in afternoon trading Wednesday, even after the Washington-based wireless communications company said it approved a $19 billion shareholder return program through 2024, that includes both stock buybacks and dividends. The program is in addition to the $14 billion stock repurchase program the company announced in September 2022. The company said it plans to pay its first-ever dividend, of about $750 million, in the fourth quarter, then spend about $3 billion on dividends in 2024. Based on 1.18 billion shares outstanding as of July 21, that could translate to a per-share payment of about 64 cents in the fourth quarter. That would leave about $15.25 billion for share repurchases through 2024, which represents about 9.6% of the company’s current market capitalization of $159.23 billion. T-Mobile US’s stock has lost 3.3% year to date, while the Communication Services Select Sector ETF XLC has rallied 39.0% and the S&P 500 SPX has gained 16.1%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move.
— MarketWatch

: Apollo to invest $2 billion in AT&T subsidiary, AT&T Mobility

Monday, 5 June 2023, 14:16:00
Shares of AT&T Inc. T rose 0.4% in premarket trading Monday, after alternative asset manager Apollo Global Management Inc. APO announced an agreement to invest $2 billion in preferred stock of AT&T subsidiary AT&T Mobility II LLC. Apollo expects to complete the investment in June 2023. AT&T Mobility plans to use the proceeds to partially replace the $8 billion in preferred interests that were outstanding before the fourth quarter of 2022. AT&T’s stock had slumped 3.8% on Friday after a report Amazon.com Inc. AMZN was in talks with certain wireless carriers about offering phone service plans to Prime members. The stock has tumbled 19.1% over the past three months through Friday, while the Communication Services Select Sector SPDR exchange-traded fund XLC has rallied 15.3% and the S&P 500 SPX has gained 5.9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
— MarketWatch

: Dish Network stock soars after WSJ report of talks to sell wireless plans on Amazon

Thursday, 25 May 2023, 15:18:00
Shares of Dish Network Corp. DISH soared 15.7% in premarket trading Thursday, after The Wall Street Journal reported that the pay-TV services company is in talks to sell wireless plans for its new mobile phone service through Amazon.com Inc.’s AMZN website. Citing people familiar with the matter, the WSJ report said details of the new plans sold through Amazon could be announced as soon as June. The financial details of the deal could not be learned, the WSJ said. The report noted that Federal regulators have set a June 14 deadline for Dish to meet certain network coverage milestones, and not reaching those milestones could lead to financial penalties. Dish’s stock had closed Wednesday at $6.23, or 1.1% above the 24-year closing low of $6.16 on May 12. It has plunged 53.1% over the past three months through Wednesday, while Communication Services Select Sector SPDR exchange-traded fund XLC has rallied 14.4% and the S&P 500 SPX has gained 3.7%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move.
— MarketWatch

What”s Driving Today”s Communication Services Sector (XLC) Rally? 5 Stocks To Watch And What”s Next

Thursday, 27 April 2023, 21:54:11
The Communication Services Select Sector SPDR Fund (ARCA: XLC) rallied nearly 6% on Thursday, on track to post its second-best performing session so far in 2023. The interactive media and services industry provided the greatest support to the sector performance, with Meta Platforms, Inc. (NASDAQ: META ) rocketing nearly 15% on the strength of upbeat Q1 earnings and improved guidance. But that”s not all: gains were widespread throughout a sector that includes social media giants, telecoms firms, and TV-entertainment stocks. As seen in the chart below, the Communication Services Select Sector SPDR Fund trades more than 30% below its all-time high of $86 per share, reached in September 2021. XLC Price Chart Five Major Contributors To The Communications Services Sector”s Performance On Thursday Meta Platforms: META gained 14.7% and accounts for … Full story available on Benzinga.com
— Benzinga

Top stock picks for 2023 from BofA – tech, media and telecom

Monday, 6 February 2023, 18:30:45
Here are the picks in Communication Services (XLC) and Tech (XLK).
— Seeking Alpha