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AT&T Inc. latest news:
Comcast joins AT&T in offering $1,000 employee bonuses
Comcast Corp. said late Wednesday it would award special bonuses to thousands of employees based on tax overhaul measures and the Federal Communications Commission's decision to scrap so-called net neutrality rules. Comcast said it would award more than 100,000 eligible employees a special $1,000 bonus each, and to invest more than $50 billion in infrastructure over the next five years. Last week, the FCC voted to roll back Obama-era regulations for internet service providers. Earlier Wednesday, AT&T Inc. said it would pay $1,000 bonuses to more than 200,000 employees if President Donald Trump signed a tax overhaul bill into law before Christmas. Comcast shares were unchanged at $39.38 after hours.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.
AT&T to boost capex by $1 billion, pay out $200 million in bonuses after tax bill is signed
AT&T Inc. said it plans to boost capital spending by $1 billion, and pay out more than $200 million in employee bonuses, once the tax bill approved by Congress is signed into law. The telecom company for the bonuses, it will pay a $1,000 special bonus to more than 200,000 employees in the U.S., all who are union-represented, non-management and front-line managers. The company said if President Donald Trump signs the bill before Christmas, the bonuses will be paid over the holidays. "This tax reform will drive economic growth and create good-paying jobs," said Chief Executive Randall Stephenson. AT&T is currently battling with antitrust regulators over its proposed merger with Time Warner Inc. , as the Trump administration has sued to block the deal. AT&T's stock rallied 1.3% in afternoon trade. It has dropped 9.4% year to date, while the S&P 500 has climbed 19.8%.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.
Time Warner shares slip on reported antitrust suit over AT&T takeover
Time Warner Inc. shares fell Monday following reports that the Department of Justice is going to announce an antitrust suit regarding the media company's merger with AT&T Inc. Time Warner shares, which earlier in the session had touched an intraday high of $88.85, fell 1.3% to $87.54 following reports the announcement was imminent. AT&T shares, which had reached an intraday high of $34.90, were up 0.5% at $34.68. Bloomberg News reported that the Justice Department planned to announce on Monday its intention to block the deal with a lawsuit. Earlier in the month, AT&T Chief Executive Randall Stephenson said he was prepared to go to court if the acquisition of Time Warner was challenged by antitrust regulators. 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.
AT&T CEO says DoJ did not ask him to sell CNN to close Time Warner deal
The Chief Executive of AT&T Inc. Randall Stephenson said he has not been asked to sell CNN as part of a deal with the U.S. government to gain approval for the company's planned takeover of Time Warner Inc. . Stephenson said at the New York Times Dealbook conference in New York that he has never been told that the price of getting the deal completed was a sale of CNN. "I have never offered to sell CNN and have no intentions to sell CNN," Stephenson said. On Wednesday, the Financial Times reported that the DoJ has told AT&T it would have to sell the cable news channel to win approval for the deal, citing people with knowledge of the negotiations. AT&T shares were up 1.9% while Time Warner shares were down 0.9%. The S&P 500 was down 0.6%.
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.
DOJ says AT&T, Time Warner need to sell CNN for merger approval: report
The Justice Department has told AT&T Inc. that the company needs to sell CNN, Time Warner's cable news network, in order for its proposed $84.5 billion acquisition of Time Warner Inc. to be approved, according to a report in the Financial Times, which cited people with knowledge of the negotiations. Shares of Time Warner were down more than 5% on Wednesday. According to the report, selling CNN is just one of the demands being made, but the deal's approval relies on that. CNN has been the target of much of President Donald Trump's "fake news" bashing in the first year of his term. According to the FT, AT&T is not really interested in selling the news network, and the company is prepared to take the Trump administration to court. Shares of Time Warner have declined more than 7% in the year to date, and AT&T shares are down nearly 22%. By comparison, the S&P 500 index is up close to 16% and the Dow Jones Industrial Average is up more than 19%.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.
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