• Signature Bank (SBNY) Up 2.5% Since Last Earnings Report: Can It Continue?
    Zacks

    Signature Bank (SBNY) Up 2.5% Since Last Earnings Report: Can It Continue?

    Signature Bank (SBNY) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

  • Bloomberg

    T-Mobile’s Legere Isn’t Taking WeWork Job, Relieving Investors

    (Bloomberg) -- T-Mobile US Inc. Chief Executive Officer John Legere isn’t taking a job running WeWork, contrary to speculation this week, a person familiar with the matter said.Legere, 61, is sticking with T-Mobile for now, according to the person, who asked not to be identified because the deliberations are private. CNBC reported earlier that Legere wasn’t going to WeWork, sending the shares up as much as 3.5% on Friday.Legere, a shaggy-haired, self-appointed industry rebel, has led a comeback at T-Mobile, culminating in a deal last year to merge with Sprint Corp. That transaction hasn’t yet cleared regulatory hurdles, and the idea of Legere jumping ship didn’t sit well with investors. They sent the shares down as much as 4.2% on Monday after the Wall Street Journal reported that WeWork was talking to Legere.The relief rally on Friday was briefly the carrier’s biggest intraday increase in almost four months, though the stock later pared its gain. It closed up 1.6% in New York.The CEO already has ties to WeWork majority shareholder SoftBank Group Corp., which took ownership of the company after WeWork’s initial public offering broke down. SoftBank also controls Sprint, and that carrier’s executive chairman, Marcelo Claure, was recently appointed to the same position at WeWork.But people familiar with WeWork’s CEO search have stressed that it intends to consider many candidates.To contact the reporter on this story: Scott Moritz in New York at smoritz6@bloomberg.netTo contact the editors responsible for this story: Flynn McRoberts at fmcroberts1@bloomberg.net, ;Rakshita Saluja at rsaluja4@bloomberg.net, Nick TurnerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Stock Market Live Updates: DOW 28,000
    Yahoo Finance

    Stock Market Live Updates: DOW 28,000

    Headlines moving the stock market in real time.

  • Bet Big on Housing Earnings With These ETFs
    Zacks

    Bet Big on Housing Earnings With These ETFs

    Prominent housing stocks put up an impressive show in the recently-reported quarter. The industry players, with solid Zacks Ranks, hold potential despite subdued home sales.

  • T-Mobile & Sprint Unveil Location of New Support Center
    Zacks

    T-Mobile & Sprint Unveil Location of New Support Center

    T-Mobile (TMUS) and Sprint (S) will establish Customer Experience Center in Nassau County for the creation of employment opportunities and enhanced customer support.

  • Shake Shack, Grubhub Tie Up to Boost On-Demand Delivery
    Zacks

    Shake Shack, Grubhub Tie Up to Boost On-Demand Delivery

    Shake Shack (SHAK) benefits from various sales-building initiatives and digitalization.

  • Bloomberg

    GrubHub Gains as Barclays Upgrades on Hopes for Board Action

    (Bloomberg) -- GrubHub shares are trading higher Friday after Barclays raised its investment opinion two notches, to overweight from underweight.The “irrational competitive landscape” in online food delivery over the past 15 months, and GrubHub executives’ “ill-timed strategic investments, and poor execution” have resulted in the stock plunging 75% to two-year lows, analyst Deepak Mathivanan told clients. As such, Mathivanan has a few requests for the GrubHub board of directors, and upgraded “on the hope of swift execution.”One request to the board is to explore consolidation with another leading food delivery player, which should result in “meaningful synergies.” Mathivanan believes that under the right M&A scenario, shares could be valued at “well north of $50 per share.” He noted the German market as a case study, where Ebitda improved after Takeaway.com NV’s acquisition of Delivery Hero SE’s German business and Takeaway shares rallied more than 75% since the December announcement. Delivery Hero climbed almost 60%.Another recommendation for GrubHub directors is to “reduce investments on unproven areas.” There’s been little benefit from the $100 million in additional marketing investment over the past 12 months, and now GrubHub is planning to spend another $150 million on “other unproven strategies,” he said. “We don’t believe these programs are likely to help achieve sustainable growth in this intense competitive environment.”Mathivanan also urges asset value preservation “before it’s too late.” GrubHub has “meaningful asset value” from its corporate offering and NYC/Chicago consumer businesses. “These assets are under intense attack from competition.” The analyst believes that GrubHub is a “dominant brand” that is worth “a lot more than current valuation under the right strategy in a rational market.”GrubHub shares rose as much as 5.7% Friday to $40.69. Barclays’ positive rating comes after Mathivanan’s 22 months in the bearish camp, during which time GrubHub fell 49% compared with the S&P 500’s advance of 8.5%.(Updates to add regular session share move in sixth graph.)To contact the reporter on this story: Janet Freund in New York at jfreund11@bloomberg.netTo contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Scott Schnipper, Steven FrommFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • 3 Reasons Why Vector (VGR) Is a Great Growth Stock
    Zacks

    3 Reasons Why Vector (VGR) Is a Great Growth Stock

    Vector (VGR) could produce exceptional returns because of its solid growth attributes.

  • You Have To Love United Bankshares, Inc.'s (NASDAQ:UBSI) Dividend
    Simply Wall St.

    You Have To Love United Bankshares, Inc.'s (NASDAQ:UBSI) Dividend

    Could United Bankshares, Inc. (NASDAQ:UBSI) be an attractive dividend share to own for the long haul? Investors are...

  • Financial Times

    John Legere, the ‘bad boy’ of telecoms being wooed by WeWork

    Visitors to T-Mobile’s Bellevue headquarters in Washington eight years ago were greeted by dull grey walls and what one described as a “strange German atmosphere”. T-Mobile first approached him in a week when he sealed his divorce and closed the sale of Global Crossing, the network company he had led for a decade. The US industry veteran, who had looked like any other suited and booted leader at Global, Dell and AT&T, grew his hair long and donned a leather jacket, magenta-coloured T-Mobile T-shirt and sneakers, and started throwing rocks at his larger rivals.

  • What Kind Of Shareholders Own ALLETE, Inc. (NYSE:ALE)?
    Simply Wall St.

    What Kind Of Shareholders Own ALLETE, Inc. (NYSE:ALE)?

    The big shareholder groups in ALLETE, Inc. (NYSE:ALE) have power over the company. Institutions will often hold stock...

  • Lennar (LEN) Outpaces Stock Market Gains: What You Should Know
    Zacks

    Lennar (LEN) Outpaces Stock Market Gains: What You Should Know

    In the latest trading session, Lennar (LEN) closed at $59.73, marking a +0.71% move from the previous day.

  • Should You Worry About Toll Brothers, Inc.'s (NYSE:TOL) CEO Pay Cheque?
    Simply Wall St.

    Should You Worry About Toll Brothers, Inc.'s (NYSE:TOL) CEO Pay Cheque?

    In 2010 Doug Yearley was appointed CEO of Toll Brothers, Inc. (NYSE:TOL). First, this article will compare CEO...

  • Sprint Unveils Community Lab to Boost OpenRAN 5G NR Project
    Zacks

    Sprint Unveils Community Lab to Boost OpenRAN 5G NR Project

    Sprint (S) introduces Telecom Infra Project Community Lab to develop OpenRAN 5G NR project for enhanced connectivity solutions.

  • InterDigital Invests $50K for Mobile Edge Computing Research
    Zacks

    InterDigital Invests $50K for Mobile Edge Computing Research

    InterDigital (IDCC) is committed to fostering edge computing research and development opportunities to boost future technologies in IT and telecommunications industry.

  • Bloomberg

    WeWork’s Quarterly Loss Doubled to $1.3 Billion as IPO Faltered

    (Bloomberg) -- WeWork reported a net loss of $1.25 billion in the third quarter, eclipsing its sales and more than doubling its loss from the same period last year. The quarter coincided with a spending spree in anticipation of an initial public offering that veered off the rails, a combination of events that nearly brought the company down.Revenue in the quarter was $934 million, up from $482 million a year earlier but failing to keep pace with the steeper losses, according to a financial document that was presented to bondholders Wednesday and reviewed by Bloomberg. A spokeswoman for WeWork parent company We Co. declined to comment on the report.In an email to staff Wednesday that was seen by Bloomberg, WeWork’s co-chief executive officers, Artie Minson and Sebastian Gunningham, described the quarter as a “difficult chapter” for the company and said they’re developing a plan to “provide a clear path to profitability.” That will include selling assets and cutting jobs, they wrote. Dismissals have already begun and are expected to number in the thousands.WeWork had always prized growth above profit, but it took the approach to another level on the eve of its expected IPO. The deal was set to raise at least $9 billion for the business in a combination of equity and debt. So WeWork spent the summer filling up office space with about 115,000 new desks in the quarter, a record for the company. That brought total desks to 719,000. Partly thanks to that push, the occupancy rate in its offices declined to 79%, from 84% a year before.It wasn’t until the final weeks of the quarter, which ended in September, that WeWork realized how doomed its fundraising plans were. Investors recoiled at the office rental company’s deep losses and flimsy corporate governance. Adam Neumann, the longtime CEO, stepped down in late September under pressure from investors, and the company pulled its IPO prospectus on the final day of the month. WeWork had $2 billion in cash that day, according to the document.The money evaporated fast. WeWork was on track to run out of funds by November and needed an emergency financing from its largest investor, SoftBank Group Corp., to stay alive. SoftBank took majority ownership in that deal and has installed an executive, Marcelo Claure, to help turn around the business. The company is seeking a new CEO, and T-Mobile US Inc.’s John Legere is among the candidates.SoftBank has said it will buy stock from employees and other shareholders at a discounted rate, but that deal has yet to happen, according to the financial document. When it does, SoftBank will own about 78% of the company and less than half of voting stock. Employees are sitting on a lot of stock, much of which is now underwater. WeWork doled out $220 million in stock-based compensation in the first three quarters, nearly five times what it spent in the same period last year.Based on the company’s performance in September, WeWork estimated it would generate $4.2 billion in revenue over the next 12 months, compared with $1.8 billion in 2018. But the business may look very different soon, as the company prepares to dismiss employees and refocus on the core business of renting office space.(Updates with staff email in the third paragraph.)To contact the reporters on this story: Ellen Huet in San Francisco at ehuet4@bloomberg.net;Gillian Tan in New York at gtan129@bloomberg.netTo contact the editors responsible for this story: Mark Milian at mmilian@bloomberg.net, Anne VanderMeyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • How Softbank’s bet on DoorDash differs from WeWork, Uber fails
    Yahoo Finance

    How Softbank’s bet on DoorDash differs from WeWork, Uber fails

    With Uber still trading below its IPO price and WeWork still reeling from its IPO disaster, could DoorDash be SoftBank's next make or break unicorn?

  • Will Spire (SR) Report Negative Earnings Next Week? What You Should Know
    Zacks

    Will Spire (SR) Report Negative Earnings Next Week? What You Should Know

    Spire (SR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • MEDNAX's Ratings Get Affirmed by Moody's, Outlook Negative
    Zacks

    MEDNAX's Ratings Get Affirmed by Moody's, Outlook Negative

    MEDNAX (MD) receives rating affirmations from Moody's. However, the outlook is changed to negative.

  • Zacks.com featured highlights include: Agnico Eagle Mines, Anixter International, Vector, PennyMac Financial Services and Kirkland Lake Gold
    Zacks

    Zacks.com featured highlights include: Agnico Eagle Mines, Anixter International, Vector, PennyMac Financial Services and Kirkland Lake Gold

    Zacks.com featured highlights include: Agnico Eagle Mines, Anixter International, Vector, PennyMac Financial Services and Kirkland Lake Gold

  • Procter & Gamble (PG) Up 13% in 6 Months: What's Driving It?
    Zacks

    Procter & Gamble (PG) Up 13% in 6 Months: What's Driving It?

    Procter & Gamble (PG) is benefiting from ongoing initiatives to improve productivity. Also, the company is focused on product improvement, packaging and marketing initiatives, and cost-saving plans.

  • Amdocs (DOX) Q4 Earnings Surpass, Revenues Meet Estimates
    Zacks

    Amdocs (DOX) Q4 Earnings Surpass, Revenues Meet Estimates

    Amdocs' (DOX) fiscal fourth-quarter performance benefits from new customer gains, strong traction in managed services and solid growth across all regions.

  • Buyout Strategies Drive RPM, Currency Headwind Persists
    Zacks

    Buyout Strategies Drive RPM, Currency Headwind Persists

    RPM benefits from strategic acquisitions and cost-saving initiatives. However, unfavorable currency fluctuations are a concern.

  • Tyson Foods (TSN) Surges: Stock Moves 7.4% Higher
    Zacks

    Tyson Foods (TSN) Surges: Stock Moves 7.4% Higher

    Tyson Foods (TSN) saw a big move last session, as its shares jumped more than 7% on the day, amid huge volumes.

  • Wireless National Stock Outlook Portrays Bullish Sentiments
    Zacks

    Wireless National Stock Outlook Portrays Bullish Sentiments

    Wireless National Stock Outlook Portrays Bullish Sentiments