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CCV - Churchill Capital V News Story

$9.98 0.0  0.1%

Last Trade - 16/04/21

Sector
Financials
Size
Mid Cap
Market Cap £496.1m
Enterprise Value £495.0m
Revenue £n/a
Position in Universe 3200th / 6850

BUZZ-T-Mobile jumps, AT&T and Verizon slip after 5G spectrum bid

Thu 25th February, 2021 12:08pm
** Shares of T-Mobile  TMUS.O  jump 4.7% while AT&T  T.N 
and Verizon Communications  VZ.N  slip 0.8% and 0.6%,
respectively, premarket following 5G spectrum bid  urn:newsml:reuters.com:*:nL1N2KU39A
    ** The 3 largest U.S. wireless cos won $78 bln in govt's
auction for C-Band spectrum critical to 5G networks 
    ** VZ's $45.4 bln successful bid was highest, followed by
AT&T's $23.4 bln bid and T-Mobile's $9.3 bln offer
    ** Scotiabank says higher spending will take some time to
pay off, and neither VZ nor AT&T closed TMUS' relative mid-band
advantage
    ** Brokerage adds auction results are neutral for AT&T and
negative for VZ and TMUS; downgrades VZ to "sector perform" and
trims PT on both AT&T and TMUS
    ** Oppenheimer downgrades VZ and AT&T to "perform" from
"outperform", mainly on valuation
    ** TMUS down about 11.5% YTD, the worst performing stock on
the S&P 500 communication services index  .SPLRCL ; VZ down
about 3% while T is up about 2%

 (Reporting by Medha Singh in Bengaluru)
 ((medha.singh@thomsonreuters.com))
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