L'intérêt à découvert pour AT&T donne aux investisseurs une idée du degré auquel les investisseurs parient sur la baisse de l'action de AT&T. Les données sur l'intérêt à découvert sont mises à jour toutes les deux semaines.

AT&T (NYSE:T) Stock, Rapport sur les intérêts à découvert

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The wireless business contributes nearly 70% of AT&T's revenue. The firm is the third-largest US wireless carrier, connecting 72 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which account for about 16% of revenue, include internet access, private networking, security, voice, and wholesale network capacity. Residential fixed-line services, about 11% of revenue, primarily consist of broadband internet access, serving 14 million customers. AT&T also has a sizable presence in Mexico, with 23 million customers, but this business only accounts for 4% of revenue. The firm still holds a 70% equity stake in satellite television provider DirecTV but does not consolidate this business in its financial statements.

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Nice&lsquo;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nice#NASDAQ">NICE</a>) shares have declined 14.2% in the year-to-date period compared with the Zacks Internet-Software industry&#39;s growth of 25.3% and the broader Zacks Computer &amp; Technology sector&#39;s return of 24.2%.
The underperformance can be attributed to strong competition from other industry players like Five9 (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fivn#NASDAQ">FIVN</a>), Salesforce and 8X8, who are expanding their portfolio in the CX market.
In June, Five9 announced an enhanced collaboration with Salesforce, integrating AI-powered solutions to enhance customer experiences in contact centers through real-time agent guidance and conversation intelligence.
However, NICE&#39;s growing client base and increased demand for its solutions will help the company fend off competition from other industry players who are also fortifying their presence in the CX market.
<div class="chart_embed">
<h2>Nice Price and Consensus</h2>
<img alt="Nice Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/51/1728313115.png" style="height:278px; width:620px" title="" />
Nice price-consensus-chart | Nice Quote
</div>
<h2>Can Strong Product Portfolio Aid NICE&#39;s Customer Base?</h2>
NICE&#39;s diverse portfolio, featuring solutions like Actimize, Evidencentral, CXone, and Inform Elite, has been gaining popularity. The company&#39;s focus on its cloud offerings, particularly its CXone platform, has been a major growth driver.
During the second quarter of 2024, it reported cloud revenues of $482 million, up 26% year over year. The uptick reflects the growing demand for cloud-native solutions, which are being adopted across various industries.
NICE recently announced that Banco PAN, a digital banking platform in Brazil, achieved a 25% improvement in first-call resolution and a 20% reduction in operational costs by implementing the NICE CXone cloud-native platform.
The company&#39;s diverse portfolio is also helping it attract new customers. Its partnerships with AT&amp;T (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/t#NYSE">T</a>) and Microsoft&nbsp;have been a key catalyst.
In August, NICE expanded its collaboration with AT&amp;T to offer a unified incident capture and data analytics solution for NextGen 9-1-1 centers, showcasing it at APCO 2024.
A deepening partnership with Microsoft is noteworthy. The collaboration has led to the integration of its NTR-X Compliance Recording and Assurance Solution into the Microsoft Azure Marketplace, providing a robust, cloud-ready compliance platform within the NICE Compliancentral suite.
<h2>Estimate Revisions Are Positive</h2>
Nice&#39;s efforts to enhance its customer experience with its robust cloud solutions are expected to drive top-line growth.
For third-quarter 2024, NICE projects non-GAAP revenues to be between $676 million and $686 million, indicating 13% year-over-year growth at the midpoint. Non-GAAP earnings are estimated in the $2.62-2.72 per share band, suggesting 18% year-over-year growth at the midpoint.
The Zacks Consensus Estimate for revenues is pegged at $682.67 million, indicating 13.52% growth year over year. The consensus mark for earnings is pegged at $2.68 per share, unchanged in the past 30 days. The figure calls for a year-over-year increase of 18.06%.
<h2>Here&#39;s What Investors Should do With NICE Stock</h2>
Despite a strong pipeline of its solutions, NICE has been suffering from the foreign exchange headwinds in the APAC market. The stiff competition is also expected to hurt the company&#39;s top-line growth.
The forward 12-month Price/Sales ratio for Nice stands at 4.42, higher than its Zacks Internet-Software industry&#39;s 3.35, reflecting a stretched valuation.
Nice currently carries a Zacks Rank #3 (Hold), which suggests that it may be wise to wait for a more favorable entry point in the stock.
<a href="https://www.zacks.com/stock/news/2347039/nice-plunges-14-year-to-date-how-should-investors-play-the-stock?cid=CS-BENZ-FT-analyst_blog|rank_focused-2347039">To read this article on Zacks.com click here.</a>

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NICE Plunges 14% Year to Date: How Should Investors Play the Stock?

September proved to be an unseasonably strong month for the market, with the <a href="https://www.benzinga.com/news/earnings/24/10/41113340/us-stocks-set-for-shaky-start-ahead-of-jolts-data-nike-earnings-strategist-says-these-3-structural-">S&amp;P 500, a measure of broader market performance, ending the month up 2.02%. </a>Trading volume on full-range brokerage services provider Charles Schwab Corporation&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) platforms, however, dipped.
What Happened: The Schwab Trading Activity Index, or STAX, fell from 53.15 in August to 47.10 in September, a release from the Charles Schwab on Monday showed. The STAX is calculated using a sampling method, drawing data from the firm&#8217;s client base of millions of funded accounts, including those accounts that completed a trade in the month.
The index indicates what traders were doing and how they were positioned in the market that month.
The September reading of 47.10 would rank as a &#8220;moderate low&#8221; compared to historical averages, the firm said.
What Drove Trading Action: Investor actions were either proactive or reactive as they positioned themselves for a slew of economic data that dropped during the month. &#8220;In September there was no shortage of market-affecting economic data, and Schwab's clients responded in kind by de-risking and taking profit opportunities," said Joe Mazzola, Head Trading &amp; Derivatives Strategist at Charles Schwab.
The market has factored in an aggressive Federal Reserve and Charles Schwab&#8217;s clients were largely optimistic about the economic activity. 
The firm highlighted the divergence between the market performance and the STAX score, calling it one of the biggest divergences in the history of its analysis. &#8220;The extent of the rate cut in September caught many by surprise and, taken in combination with all the other economic data swirling during the month, it make sense that clients pulled back a bit even as the markets soared,&#8221; it said.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the S&amp;P 500 Index started September on a negative note but bottomed at $547.71 (intraday) on Sept. 9 and at $538.71 (closing) on Sept. 6. The ETF rebounded thereafter and closed the month at an all-time high of $573.76. 

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="446" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/06220301/image-2-12-1024x446.png" alt="" class="wp-image-582402" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/06220301/image-2-12-1024x446.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/06220301/image-2-12-300x131.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/06220301/image-2-12-768x335.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/06220301/image-2-12-1536x670.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/06220301/image-2-12.png 1915w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Source: Benzinga Pro data
See Also: <a href="https://www.benzinga.com/money/best-value-stocks">Best Value Stocks </a>
The S&amp;P 500 and the Dow Industrials also clocked record highs in the final session of September, as they ended at 5,762.48 and 42,330.15, respectively. On an intraday basis, these two indices scored records of 5,767.37 on Sept. 26 and 42,628.32 on Sept. 27.
The tech-heavy Nasdaq Composite Index ended September at 18,189.17, marking a 2-1/2 high month but shy off its all-time closing high of 18,647.45 (July 10). The index&#8217;s intra-high is 18,671.07 (July 11).
Stock Statistics: Early movers into artificial intelligence and a beaten-down chip stock were among the popular names bought by Charles Schwab&#8217;s clients. On the other hand, the firm&#8217;s clients were net sellers of some high-profile tech stocks, a telecom company and a couple of China-based companies.
<ul>
<li>Stocks In Favor
<ul>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</li>
<li>Palantir Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>)</li>
<li>Intel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NYSE">INTC</a>)</li>
<li>Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)</li>
<li>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</li>
</ul>
</li>
<li>Stocks Out Of Favor
<ul>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</li>
<li>Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)</li>
<li>Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)</li>
<li>AT&amp;T, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>)</li>
<li>Nio, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>)</li>
</ul>
</li>
</ul>
Underperforming chip stock Intel found some bounce in September amid rumors concerning a stake sale and spin-off. The stock ended September up over 6%. The interest in Palantir does not come as a surprise given the kind of retail interest and the company&#8217;s inclusion in the S&amp;P 500 Index.
Interestingly, Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), which has been a high-flier in October, does not feature in the top six most-bought list of Charles Schwab.
Although traders were net sellers of Alibaba and Nio in September, these two stocks have been on fire since China announced <a href="https://www.benzinga.com/markets/equities/24/10/41182930/china-was-tipping-into-a-japan-style-lost-decade-of-deflation-and-stagnation-before-late-septemb">stimulus measures announced in late-September. </a>
The SPY ended Friday&#8217;s session up 0.91% at 572.98, according to<a href="https://benzinga.grsm.io/register174"> Benzinga Pro data.</a>
Image via Flickr
Read Next:
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<li><a href="https://www.benzinga.com/markets/24/10/41143855/if-you-invested-1-000-in-peter-thiel-co-founded-palantir-when-it-ipoed-4-years-ago-heres-how-much-yo">If You Invested $1,000 In Peter Thiel Co-founded Palantir When It IPOed 4 Years Ago, Here&#8217;s How Much You Would Have Now</a></li>
</ul>

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Schwab Trading Activity Falls In September Despite Market Strength: Nvidia, Palantir Among Most Sought-After Stocks But These 5 Fell Out Of Favor

In a <a href="https://www.benzinga.com/markets/asia/24/04/38346345/chinese-hackers-may-control-your-water-and-are-laying-in-wait-fbi-warns-3-startups-to-watch">cyberattack linked to the</a> Chinese government, major U.S. broadband providers have reportedly been breached, potentially compromising systems used for court-authorized wiretapping requests.
What Happened: The hackers, known as Salt Typhoon, may have had access to these networks for months, posing a significant national security risk. The breach also extended to other sections of internet traffic, <a href="https://www.wsj.com/tech/cybersecurity/u-s-wiretap-systems-targeted-in-china-linked-hack-327fc63b">reported</a> The Wall Street Journal, citing people familiar with the matter.
AT&amp;T&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>),&nbsp;Verizon Communications&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>), and&nbsp;Lumen Technologies&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUMN#NYSE">LUMN</a>)&nbsp;are among the companies whose&nbsp;networks were compromised in this intrusion.
The attack,&nbsp;considered a potentially catastrophic security&nbsp;breach, was primarily aimed at intelligence collection. The extent of the breach and the amount of data observed and exfiltrated by the hackers is still under investigation.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41181916/mark-cuban-offers-to-help-elon-musk-boost-x-revenue-says-tesla-ceo-is-concerned-about-declining-user?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Offers To Help Elon Musk Boost X Revenue, Says Tesla CEO Is Concerned About Declining Users: &#8216;I Wish He Would Call Me&#8217;</a>
The surveillance systems in question are used to comply with requests for domestic information in connection with criminal and national security investigations, the report noted.
Federal law mandates that telecommunications and broadband companies grant authorities access to intercept electronic data through court orders.
An individual with knowledge of the attack stated that the U.S. government views the breaches as highly significant and concerning from a historical perspective.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: This cyberattack is the latest in a series of breaches linked to Chinese hackers. In April earlier this year,&nbsp;FBI Director Christopher Wray warned&nbsp;of China-linked hackers <a href="https://www.benzinga.com/news/24/04/38330156/fbi-chief-warns-xi-jinpings-ccp-linked-chinese-hackers-are-planning-to-physically-wreak-havoc-on-us">infiltrating U.S. critical infrastructure</a>, including telecommunications, energy, and water sectors.
In May, the&nbsp;<a href="https://www.benzinga.com/news/24/05/38659657/major-hacking-incident-exposes-data-of-military-personnel-in-uk-ministry-of-defence-breach-is-china">U.K. Ministry of Defence suffered a major data breach</a>, with the sensitive details of active military personnel compromised. The Chinese state was suspected to be behind the cyberattack.
By August, concerns about the security of the upcoming elections rose after&nbsp;Donald Trump's presidential campaign fell victim to a cyberattack, with <a href="https://www.benzinga.com/news/24/08/40305575/after-trump-campaign-blames-foreign-sources-hostile-to-the-us-for-cyberattack-ex-white-house-officia">foreign sources hostile to the U.S.</a> blamed for the intrusion.
The Salt Typhoon group, active since 2020, is a China-based nation-state hacking group focusing&nbsp;on espionage and data theft,&nbsp;particularly capturing network traffic.&nbsp;
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is currently investigating the Salt Typhoon intrusion along with other cybersecurity companies.
Image via Unsplash
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/41084112/mark-zuckerberg-says-orion-is-probably-going-to-be-the-next-major-platform-after-phones-metas-new-ar?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Says, Orion &#8216;Is Probably Going To Be The Next Major Platform After Phones&#8217; — Meta&#8217;s New AR Wearables Real-Life Tony Stark Glasses In The Making?</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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LUMN

Chinese Hackers Breach AT&T, Verizon Networks In Major Wiretap Data Theft Putting US National Security At Risk: Report

SBA Communications&#39; (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sbac#NASDAQ">SBAC</a>) extensive and geographically diverse wireless communication infrastructure portfolio is well-positioned to gain from the wireless carriers&#39; high capital spending for network expansion amid growth in mobile data usage and accelerated 5G network deployment efforts.
The long-term leases with its tenants assure stable revenues. Also, portfolio expansion moves, domestically and internationally, to capitalize on the secular trends of the industry are encouraging.
However, customer concentration and consolidation in the wireless industry are key near-term concerns. The churn arising from the Sprint-related decommissioning is likely to hurt top-line growth.
Shares of this Zacks Rank #3 (Hold) company have risen 25.9% over the past three months, outperforming the industry&#39;s upside of 16.5%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/25/80252.jpg?v=2118588955" />
Image Source: Zacks Investment Research
<h2>What&#39;s Aiding SBAC?</h2>
The advancement in mobile technology, such as 4G and 5G networks, and the proliferation of bandwidth-intensive applications have propelled growth in mobile data usage globally. This has resulted in wireless service providers and carriers expanding their networks and deploying additional equipment for existing networks to boost network coverage and capacity to meet the rising consumer demand, poising tower real estate investment trusts like SBAC well for growth.
SBA Communications has a resilient and stable site-leasing business model. The company generates most of its revenues from long-term (typically five to 10 years) tower leases that have built-in rent escalators. With high operating margins, its tower-leasing business remains attractive.
As the company continues to expand its tower portfolio and seek new growth opportunities, it focuses on business expansion into domestic and select international markets with high growth characteristics. During the first half of 2024, SBAC acquired 128 towers and related assets. In the second quarter of 2024, it also built 100 towers. Subsequent to June 30, 2024, the company purchased or is under contract to purchase 106 communication sites for a total cash consideration of $49.3 million. Such portfolio expansion efforts will position SBA Communications to leverage secular trends in mobile data usage and wireless spending growth across the globe.
Solid dividend payouts are arguably the biggest enticement for investment in REIT stocks. SBAC has increased its dividend five times in the last five years, and its five-year annualized dividend growth rate is 22.42%. Given SBA Communications&#39; decent financial position and lower-than-industry dividend payout rate, the dividend distribution is expected to be sustainable over the long run.
<h2>What&#39;s Hurting SBAC?</h2>
The company has a high customer concentration, with T-Mobile (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tmus#NASDAQ">TMUS</a>), AT&amp;T (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/t#NYSE">T</a>) and Verizon (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vz#NYSE">VZ</a>) accounting for the majority of its domestic site-leasing revenues. In the second quarter of 2024, T-Mobile, AT&amp;T and Verizon accounted for 38.2%, 29.7% and 20.2%, respectively, of SBAC&#39;s domestic site-leasing revenues.
The loss of any of these customers, consolidation among them or a reduction in network spending might hurt the company&#39;s top line significantly. The churn arising from the Sprint-related decommissioning is likely to weigh on its performance in the near term.
SBA Communications has a substantially leveraged balance sheet, with $12.4 billion of total debt and net debt to the annualized adjusted EBITDA leverage of 6.4X as of the end of the second quarter of 2024. The high amount of debt is likely to keep SBA Communications&#39; financial obligations elevated. Moreover, its debt-to-capital ratio is higher than the industry average. A high debt-to-capital ratio limits its strength to withstand any credit crisis and unexpected negative externalities in the future.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2345624/is-it-wise-to-retain-sba-communications-stock-in-your-portfolio-now?cid=CS-BENZ-FT-analyst_blog|zer_report_update-2345624">To read this article on Zacks.com click here.</a>

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Is it Wise to Retain SBA Communications Stock in Your Portfolio Now?

AT&amp;T's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) short percent of float has risen 16.96% since its last report. The company recently reported that it has 143.38 million shares sold short, which is 2.0% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.01 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>AT&amp;T Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727963114_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for AT&amp;T has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing AT&amp;T's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, AT&amp;T's peer group average for short interest as a percentage of float is 1.67%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(T) - Analyzing AT&T's Short Interest

Several European telecom companies, including Vodafone, Telefonica, and Orange, are considering legal action against Elon Musk's SpaceX if the Federal Communications Commission (FCC) relaxes radio emission rules for its <a href="https://www.benzinga.com/topic/starlink">Starlink system</a>.
What Happened: European telecom giants have expressed their concerns in a letter to the FCC, warning that any relaxation of emission limits could negatively impact licensed terrestrial mobile network operators and their users.
"Any relaxation that degrades the utility of spectrum that mobile operators have licensed from their respective national authorities, and which would undermine service quality and increase deployment costs, would be legal grounds for claiming damages," the companies said in the complaint.
Alongside U.S. companies like AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) and Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>), the European carriers argue that SpaceX&#8217;s technology could cause radio interference if allowed to exceed current limits.
SpaceX, however, has requested a waiver from the FCC, claiming that without it, their system may struggle to provide reliable real-time communications, especially during emergencies.
SpaceX asserts that its technology is designed to avoid interference with ground networks and requires the waiver only when satellites are over the U.S. It recently announced that its Starlink customer base has <a href="https://www.benzinga.com/news/24/09/41061483/spacexs-starlink-now-connects-4m-customers-with-more-than-6k-operational-satellites-adds-a-million-u">reached the four million mark</a>, adding a million new customers in four months.
Despite this, resistance from telecom companies continues to grow, with many supporting a rival provider, AST SpaceMobile, which is also developing satellite systems.
See Also: <a href="https://www.benzinga.com/news/24/10/41156900/nvidia-ceo-jensen-huang-says-demand-for-next-gen-blackwell-gpu-platform-insane-everyone-wants-to-hav?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia CEO Jensen Huang Says Demand For Next-Gen Blackwell GPU Platform Insane</a>
Why It Matters: The legal threat from European telecom giants comes at a time when <a href="https://www.benzinga.com/news/24/09/40848351/a-week-after-elon-musks-spacex-launched-7-000th-starlink-satellite-fcc-chair-jessica-rosenworcel-cal">SpaceX&#8217;s Starlink</a> has reached a significant milestone with its 7,000th satellite launch.
This achievement has prompted FCC Chair Jessica Rosenworcel to call for increased competition in the space industry, emphasizing that it will lead to lower prices and more innovation.
Additionally, SpaceX&#8217;s Starlink has demonstrated its capability in emergency communications. Earlier this month, T-Mobile US Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) <a href="https://www.benzinga.com/news/24/09/40826886/t-mobile-sends-first-wireless-emergency-alert-via-spacexs-starlink-satellites-in-space">successfully sent and received</a> the first-ever wireless emergency alert via Starlink satellites, showcasing the system&#8217;s potential in public safety scenarios.
Despite these advancements, SpaceX CEO Elon Musk has criticized the FCC&#8217;s decision to deny Starlink nearly $900 million in subsidies, labeling it as <a href="https://www.benzinga.com/news/24/10/41113339/elon-musk-resumes-slamming-fccs-decision-to-deny-starlink-885m-subsidy-after-fema-sends-its-terminal">&#8220;contemptible political lawfare.&#8221;</a>
This comes as the Federal Emergency Management Agency (FEMA) has turned to Starlink to <a href="https://www.benzinga.com/news/24/10/41138209/elon-musks-spacex-to-give-free-starlink-access-to-hurricane-helene-victims">provide connectivity</a> in regions affected by Hurricane Helene, further highlighting the system&#8217;s importance in disaster response.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/41086806/elon-musk-mocks-vinod-khosla-after-openai-investor-mixes-up-argentinas-poverty-and-unemployment-rate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Mocks Vinod Khosla After OpenAI Investor Mixes Up Argentina&#8217;s Poverty And Unemployment Rates</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo by Wirestock Creators on Shutterstock

SPACE

European Telecom Giants Threaten Legal Action Against Elon Musk's Starlink Over Potential FCC Rule Changes

Investors with a lot of money to spend have taken a bearish stance on AT&amp;T (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with T, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 15 uncommon options trades for AT&amp;T.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 40%, bearish.
Out of all of the special options we uncovered, 10 are puts, for a total amount of $372,610, and 5 are calls, for a total amount of $375,285.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $15.0 and $25.0 for AT&amp;T, spanning the last three months.
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for AT&amp;T's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of AT&amp;T's whale activity within a strike price range from $15.0 to $25.0 in the last 30 days. 
<h3>AT&amp;T Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727879540_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>T</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$0.52</td>
<td>$0.51</td>
<td>$0.52</td>
<td>$23.00</td>
<td>$180.2K</td>
<td>7.5K</td>
<td>4.2K</td>
</tr>
<tr>
<td>T</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$7.3</td>
<td>$7.2</td>
<td>$7.2</td>
<td>$15.00</td>
<td>$72.0K</td>
<td>13.3K</td>
<td>100</td>
</tr>
<tr>
<td>T</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$7.15</td>
<td>$7.1</td>
<td>$7.15</td>
<td>$15.00</td>
<td>$71.5K</td>
<td>13.3K</td>
<td>100</td>
</tr>
<tr>
<td>T</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$2.42</td>
<td>$2.41</td>
<td>$2.42</td>
<td>$24.00</td>
<td>$59.0K</td>
<td>607</td>
<td>916</td>
</tr>
<tr>
<td>T</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$2.42</td>
<td>$2.41</td>
<td>$2.42</td>
<td>$24.00</td>
<td>$55.1K</td>
<td>607</td>
<td>360</td>
</tr>
</tbody>
</table>

<h3>About AT&amp;T</h3>
The wireless business contributes nearly 70% of AT&amp;T's revenue. The firm is the third-largest US wireless carrier, connecting 72 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which account for about 16% of revenue, include internet access, private networking, security, voice, and wholesale network capacity. Residential fixed-line services, about 11% of revenue, primarily consist of broadband internet access, serving 14 million customers. AT&amp;T also has a sizable presence in Mexico, with 23 million customers, but this business only accounts for 4% of revenue. The firm still holds a 70% equity stake in satellite television provider DirecTV but does not consolidate this business in its financial statements.
Following our analysis of the options activities associated with AT&amp;T, we pivot to a closer look at the company's own performance.
<h3>Current Position of AT&amp;T</h3>
<ul>
<li>Trading volume stands at 4,427,399, with T's price down by -0.07%, positioned at $22.11.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 21 days.</li>
</ul>
<h3>Expert Opinions on AT&amp;T</h3>
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $27.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on AT&amp;T with a target price of $24. 
&#x2A; An analyst from Tigress Financial persists with their Buy rating on AT&amp;T, maintaining a target price of $30. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for AT&amp;T, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Behind the Scenes of AT&T's Latest Options Trends

TPG Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>) shares are trading lower on Tuesday after the company&#8217;s subsidiary, TPG Rise Climate, teamed up with GIC to acquire Techem Group for around $7.5 billion.
The purchase price will be paid in two installments: one at closing and the remaining balance in July 2027.
TPG Rise Climate — one of the largest private equity funds focused on global climate solutions — invests in companies that facilitate meaningful decarbonization at scale.
The transaction is anticipated to close in the first half of 2025, pending regulatory approvals.
The acquisition of Techem marks the fund&#8217;s largest transaction to date, with GIC making a significant minority investment.
Ed Beckley, a managing partner of TPG Rise Climate, praised Techem for &#8220;improving the environmental impact of real estate assets across Europe."
Related: <a href="https://www.benzinga.com/news/large-cap/24/09/41065585/struggling-satellite-tv-players-directv-and-dish-merger-could-be-finalized-soon-wsj" target="_blank" rel="noreferrer noopener">Struggling Satellite-TV Players DirecTV And Dish Merger Could Be Finalized Soon: WSJ</a>
"There is a tremendous opportunity to reduce energy consumption in built environments by enhancing efficiency and better-managing overall demand,&#8221; he added.
Techem CEO Matthias Hartmann said the deal will help the company expand &#8220;across Europe and beyond."
On Monday, the company disclosed a deal to acquire the remaining 70% stake in DIRECTV from <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41087787/tpg-to-acquire-at-ts-70-stake-in-directv" rel="noreferrer noopener">AT&amp;T Inc.</a><a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41087787/tpg-to-acquire-at-ts-70-stake-in-directv" rel="noreferrer noopener"> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) for $2.5 billion</a>.
Also, Creative Planning disclosed that TPG made a significant minority investment in the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41093436/creative-planning-announces-strategic-investment-from-tpg-capital" rel="noreferrer noopener">company for an undisclosed amount</a>.
Investors can gain exposure to the BX stock via&nbsp;EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/LBO#BATS">LBO</a>) and&nbsp;Invesco Global Listed Private Equity ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSP#NYSE">PSP</a>).
Price Action: TPG shares are up 1.2% at $58.25 at the last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/41089650" target="_blank" rel="noreferrer noopener">AT&amp;T Gets Major Exit Cue As DirecTV Clinches Dish Deal</a></li>
</ul>

Contracts

PowerShares Listed Private Equity Portfolio

TPG, GIC Agree To Buy Techem For $7.5B: Look To Expand 'Across Europe And Beyond'

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a<a href="https://www.benzinga.com/yield-investments"> high dividend payout</a>.
Benzinga readers can review the latest analyst takes on their favorite stocks by visiting <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings</a> page. Traders can sort through Benzinga's extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the communication services sector.
<h3 class="wp-block-heading">Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>)</h3>
<ul>
<li>Dividend Yield: 6.04%</li>
<li>B of A Securities analyst David Barden maintained a Neutral rating and raised the price target from $41 to $45 on Sept. 26. This analyst has an accuracy rate of 65%.</li>
<li>Citigroup analyst Michael Rollins maintained a Buy rating and increased the price target from $47 to $49 on Sept. 25. This analyst has an accuracy rate of 77%</li>
<li>Recent News: Vay collaborated with Verizon Communications to integrate Verizon 5G connectivity into Vay's fleet of teleoperated electric vehicles.</li>
<li>Benzinga Pro's real-time newsfeed alerted to<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent093024&amp;t=be2bearmibe3na1"> latest VZ news</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent093024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="916" height="858" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/30045916/image-230.png" alt="" class="wp-image-571915" style="width:697px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/30045916/image-230.png 916w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/30045916/image-230-300x281.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/30045916/image-230-768x719.png 768w" sizes="(max-width: 916px) 100vw, 916px" /></a></figure>
<h3 class="wp-block-heading">AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>)</h3>
<ul>
<li>Dividend Yield: 5.07%</li>
<li>Tigress Financial analyst Ivan Feinseth maintained a Buy rating and raised the price target from $29 to $30 on Sept. 27. This analyst has an accuracy rate of 73%.</li>
<li>Citigroup analyst Michael Rollins maintained a Buy rating and increased the price target from $21 to $24 on Sept. 11. This analyst has an accuracy rate of 77%</li>
<li>Recent News: The company's board of directors declared a quarterly dividend of $27.75 cents per share on common shares.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent093024&amp;t=be2bearmibe3na1">latest T news</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent093024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="918" height="852" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/30045930/image-231.png" alt="" class="wp-image-571917" style="width:683px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/30045930/image-231.png 918w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/30045930/image-231-300x278.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/30045930/image-231-768x713.png 768w" sizes="(max-width: 918px) 100vw, 918px" /></a></figure>
<h3 class="wp-block-heading">The Interpublic Group of Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IPG#NYSE">IPG</a>)</h3>
<ul>
<li>Dividend Yield: 4.17%</li>
<li>Barclays analyst Julien Roch maintained an Equal-Weight rating and cut the price target from $35 to $34 on July 25. This analyst has an accuracy rate of 62%.</li>
<li>Morgan Stanley analyst Benjamin Swinburne downgraded the stock from Equal-Weight to Underweight and cut the price target from $34 to $28 on July 22. This analyst has an accuracy rate of 76%.</li>
<li>Recent News: On Sept. 18, Interpublic named Alex Hesz as Chief Strategy Officer.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent093024&amp;t=be2bearmibe3na1">trend in IPG stock.</a> </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent093024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="918" height="842" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/30050005/image-232.png" alt="" class="wp-image-571918" style="width:661px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/30050005/image-232.png 918w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/30050005/image-232-300x275.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/30050005/image-232-768x704.png 768w" sizes="(max-width: 918px) 100vw, 918px" /></a></figure>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="How to Find Dividend Stocks: Scan, Analyze, and Capture with Benzinga Pro" width="500" height="281" src="https://www.youtube.com/embed/pVF0O2lsEH4?start=1&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/09/41075978/top-4-materials-stocks-that-may-implode-in-q3">Top 4 Materials Stocks That May Implode In Q3</a></li>
</ul>

Price Target

Pre-Market Outlook

Wall Street's Most Accurate Analysts Give Their Take On 3 Tech And Telecom Stocks Delivering High-Dividend Yields

DirecTV has finalized a deal to merge with Dish Network, marking a significant shift in the pay-TV landscape. This would allow AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) to walk out of DirecTV.
What Happened: The merger concludes decades of intermittent discussions, creating a combined entity with 20 million subscribers. This move comes as both companies face declining market shares due to competition from streaming services like Netflix and Amazon Prime Video. According to <a href="https://www.cnbc.com/2024/09/30/att-sells-70percent-stake-in-directv-to-tpg-for-7point6-billion.html">CNBC</a>, the agreement was reached on Monday.
DirecTV CEO Bill Morrow stated that the merger will enable the new entity to negotiate better programming packages and offer an enhanced viewer experience. The deal involves DirecTV acquiring Dish DBS, which includes Dish and Sling TV, for $1 and assuming $9.75 billion of Dish&#8217;s debt.
For the merger to proceed, Dish DBS debtholders must agree to a $1.57 billion reduction in debt. EchoStar, co-founded by Charlie Ergen, will receive $2.5 billion in financing from TPG&#8216;s credit unit Angelo Gordon and DirecTV to help pay off Dish&#8217;s $2 billion bond due in November.
AT&amp;T is selling its 70% stake in DirecTV to TPG for $7.6 billion, marking its exit from the pay-TV business. AT&amp;T had previously signed a joint venture with TPG in 2021, valuing DirecTV at about $16 billion.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/41074448/latest-inflation-data-cements-feds-interest-rate-call-s-p-500-hits-all-time-high-biden-adviser-b?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Latest Inflation Data Cements Fed&#8217;s Interest Rate Call, S&amp;P 500 Hits All-Time High, Biden Adviser Backs China EV Ban At Detroit Economic Club: This Week In The Markets</a>
The merger is expected to close in the fourth quarter of 2025, pending regulatory approvals. Investment banks PJT Partners, Barclays, JPMorgan, Bank of America, Evercore, LionTree, and Morgan Stanley advised on the deal.
Why It Matters: The merger between DirecTV and Dish Network has been a long time coming, with talks reportedly in advanced stages as of late September. The combined entity is set to become the largest<a href="https://www.benzinga.com/news/large-cap/24/09/41065585/struggling-satellite-tv-players-directv-and-dish-merger-could-be-finalized-soon-wsj"> pay-TV provider</a> in the U.S., boasting around 20 million subscribers. This move is crucial as both companies have been struggling to retain customers who are increasingly shifting to more affordable and flexible streaming services like Netflix and Amazon Prime Video.
Additionally, AT&amp;T has been focusing on its <a href="https://www.benzinga.com/markets/equities/24/09/40812280/at-t-ceo-john-stankey-flags-normalizing-wireless-trends-and-strong-fiber-growth-details">core business areas</a>. Earlier in September, AT&amp;T CEO John Stankey highlighted the company&#8217;s strong performance in the Mobility business and the promising growth in fiber penetration rates. This merger allows AT&amp;T to divest its 70% stake in DirecTV, aligning with its strategy to streamline operations and focus on more profitable segments like wireless and fiber services. 
Read Next: 
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</ul>
Image via DirecTV
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

General

AT&T Gets Major Exit Cue As DirecTV Clinches Dish Deal

DIRECTV (the "Company") and EchoStar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) today announced that they have entered into a definitive agreement under which DIRECTV will acquire EchoStar's video distribution business DISH DBS ("DISH"), including DISH TV and Sling TV, through a debt exchange transaction. The combination of DIRECTV and DISH will benefit U.S. video consumers by creating a more robust competitive force in a video industry dominated by streaming services owned by large tech companies and programmers. The transaction will provide consumers with compelling video options while separately improving EchoStar's financial profile as it continues to enhance and further deploy its nationwide 5G Open RAN wireless network.
"DIRECTV operates in a highly competitive video distribution industry," said Bill Morrow, Chief Executive Officer, DIRECTV. "With greater scale, we expect a combined DIRECTV and DISH will be better able to work with programmers to realize our vision for the future of TV, which is to aggregate, curate, and distribute content tailored to customers' interests, and to be better positioned to realize operating efficiencies while creating value for customers through additional investment."
"This agreement is in the best interests of EchoStar's customers, shareholders, bondholders, employees, and partners," said Hamid Akhavan, President and Chief Executive Officer, EchoStar. "With an improved financial profile, we will be better positioned to continue enhancing and deploying our nationwide 5G Open RAN&nbsp;wireless network. This will provide U.S. wireless consumers with more choices and help to drive innovation at a faster pace. We expect DISH and EchoStar bondholders to benefit from two companies with stronger financial profiles and more sustainable capital structures."
"DIRECTV was founded 30 years ago to give consumers greater choices than incumbent cable companies for video content, and the Company's acquisition of DISH TV and Sling TV positions it to again provide more choices and better value in an industry currently dominated by large streaming platforms," said David Trujillo and John Flynn, Partners at TPG. "Our ability to execute these transactions, alongside our proposed acquisition of AT&amp;T's 70% stake in DIRECTV announced earlier today, exemplifies the unique capabilities of the TPG platform and our experienced sector-focused investment approach as we support DIRECTV's continued investment in innovating the next generation of video services that benefit consumers."
Compelling Transaction Benefits
A combination of DIRECTV and DISH will help the new company provide consumers with more choices and better value. The combined video company is expected to:
<ul>
<li>Have increased scale to incentivize programmers to allow DIRECTV to deliver smaller packages at lower price points. &nbsp;</li>
<li>Be better positioned to bring together multiple content sources in one easily accessible place. &nbsp;</li>
<li>Have an enhanced ability to make the investments required to improve its streaming services. &nbsp;</li>
<li>Improve the viability of the satellite platform by realizing efficiencies of some shared fixed infrastructure and operating expenses. &nbsp;</li>
<li>Continue to provide the broadest array of programming and diverse voices available on pay TV, including local news.</li>
</ul>
The transaction will also benefit U.S. wireless consumers by allowing EchoStar to focus on enhancing and further deploying its 5G Open RAN cloud-native wireless network. This transaction will:
<ul>
<li>Alleviate a material portion of EchoStar's financial constraints. &nbsp;</li>
<li>Free up operational and financial resources that EchoStar can dedicate to its mission of deploying a nationwide facilities-based wireless service to compete with dominant incumbent wireless carriers.&nbsp; &nbsp;</li>
<li>Benefit consumers by enabling EchoStar (through its Boost Mobile brand) to strengthen its position as the fourth facilities-based carrier in the U.S. &nbsp;</li>
<li>Enable EchoStar to further leverage its satellite assets and experience, including developing innovative direct-to-device (D2D) solutions.&nbsp;</li>
</ul>
Highly Competitive Industry
The video distribution industry has undergone a massive transformation and is highly competitive, now dominated by streaming services owned by large tech companies and programmers.
<ul>
<li>Streaming services owned by large tech companies and programmers now have subscription numbers that far exceed those of pay TV distributors. &nbsp;</li>
<li>Content that was historically the mainstay of traditional pay TV – news, sports, and entertainment – is now available exclusively or first-run on direct-to-consumer streaming services. &nbsp;</li>
<li>The vast majority of consumers who leave satellite video are "cutting the cord" for streaming services – wherever they live.&nbsp;
<ul>
<li>Combined, DIRECTV and DISH have collectively lost 63% of their satellite customers since 2016. &nbsp;</li>
<li>Traditional pay TV penetration in U.S. households is now less than 50%.</li>
</ul>
</li>
</ul>
Improve Both Companies' Financial Profiles
The transaction is expected to strengthen the financial profiles of DIRECTV and EchoStar, creating opportunities for additional investment.
<ul>
<li>Upon transaction close, DIRECTV expects to have a leverage position&nbsp;just over 2.0x, and plans to reduce to under 2.0x within 12 months, consistent with its stated 1.5x - 2.0x financial policy on a pro forma basis.&nbsp;As a result, DIRECTV will have one of the best leverage profiles in the pay TV industry. &nbsp; &nbsp;</li>
<li>DIRECTV estimates that the combination of DIRECTV and DISH has the potential to generate cost synergies of at least $1 billion per annum. These synergies are expected to be achieved by the third anniversary of closing, assuming the closing is in late 2025.1 &nbsp;</li>
<li>The transaction will provide EchoStar with greater financial flexibility by improving its access to capital and reducing overall refinancing needs.
<ul>
<li>At close, EchoStar will have reduced its total consolidated debt&nbsp;(excluding financing leases and other notes payable)&nbsp;by&nbsp;approximately&nbsp;$11.7 billion and reduced its consolidated refinancing needs through 2026 by&nbsp;approximately&nbsp;$6.7 billion&nbsp;(excluding financing leases and other notes payable). &nbsp;</li>
<li>The transaction, in conjunction with the exchange offer announced today (the "Exchange Offer"), will also result in the termination of all Intercompany Obligations between DISH Network and DISH DBS and creates the ability for EchoStar to fully unencumber the 3.45-3.55 GHz spectrum, unlocking incremental strategic and operating flexibility.</li>
</ul>
</li>
</ul>
Transaction Details
Under the terms of the purchase agreement, DIRECTV will acquire EchoStar's video distribution business, including DISH TV and Sling TV, in exchange for a nominal consideration of $1 plus the assumption of DISH DBS net debt. DISH Network will also benefit from the releases of a substantial amount of intercompany receivables, including spectrum, but will have contractually limited access to the cash flow generated by its business between signing and closing. DISH DBS and DIRECTV have commenced the Exchange Offer for five different series of DISH DBS notes with a total face value of approximately $9.75 billion, including seeking certain consents from the holders of such notes to facilitate the acquisition. The indentures governing the new DISH DBS&nbsp;notes will provide for an amendment without the consent of holders of the new DISH DBS notes to allow for the mandatory exchange of such notes following receipt of certain regulatory approvals and provided the acquisition has been or will be consummated before the outside date described in the purchase agreement, into a reduced principal amount of DIRECTV debt which will have terms and collateral that mirror DIRECTV's existing secured debt. Such mandatory exchange is conditioned, amongst other things, on an aggregate reduction in the principal amount of DISH DBS' notes in such exchange of at least $1.568 billion. If noteholders do not accept the Exchange Offer on terms satisfactory to DIRECTV, including to the extent the above mentioned minimum principal reduction is not achieved, it has the right to terminate the acquisition without closing.
The transaction is subject to various closing conditions, including, but not limited to, a requisite amount of the outstanding DISH DBS notes being tendered into the Exchange Offer, completion of a pre-closing reorganization, and receipt of required regulatory approvals.
In addition, TPG Angelo Gordon and certain of its Co-Investors, as well as DIRECTV, provided $2.5 billion of financing to fully refinance DISH DBS' November 2024 debt maturity. The proceeds of the funding will be distributed to DISH DBS via a secured intercompany loan to fully repay DISH DBS' November 2024 debt maturity and for general corporate purposes. The financing can be exchanged or refinanced into DIRECTV debt at the closing of the acquisition.
"We built our business to provide bespoke financing solutions. We are pleased to partner with DIRECTV and DISH DBS on a transaction that is value-enhancing for all stakeholders," said Ryan Mollett, Partner, and Michael Ginnings, Managing Director, TPG Angelo Gordon.
Leadership and Corporate Governance
Upon closing of this transaction, DIRECTV will be led by a proven management team that reflects the strengths and capabilities of both organizations. DIRECTV will continue to be led by&nbsp;Bill Morrow, DIRECTV's Chief Executive Officer, and Ray Carpenter, DIRECTV's Chief Financial Officer. The combined company will be headquartered in El Segundo, California.
TPG Inc. to Acquire AT&amp;T's 70% Stake in DIRECTV
TPG Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>) and AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) today announced a definitive agreement under which TPG will acquire from AT&amp;T the remaining 70% stake in DIRECTV that it does not already own. TPG will invest in DIRECTV through TPG Capital, the firm's U.S. and European private equity platform. The transaction between TPG and AT&amp;T is expected to close in the second half of 2025, subject to customary closing conditions. Completion of this transaction is not contingent on DIRECTV's acquisition of DISH.

SATS

DIRECTV to Acquire EchoStar's Video Business Including DISH TV in $11.7B Debt Exchange Deal

TPG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>), a leading global alternative asset management firm, today announced it has reached an agreement to acquire from AT&amp;T the remaining 70% stake in DIRECTV that it does not already own. TPG will invest in DIRECTV through TPG Capital, the firm's U.S. and European private equity platform.
Since 2021, DIRECTV has operated as a joint venture between AT&amp;T and TPG consisting of DIRECTV, DIRECTV STREAM and U-verse video services previously owned and operated by AT&amp;T. This transaction is expected to provide DIRECTV with a stronger financial platform to increase investments in innovative video offerings that benefit consumers.
This transaction will strengthen TPG's existing partnership with DIRECTV, and TPG's proven expertise in the internet, digital media and communications sectors will support DIRECTV's efforts to grow its next-generation streaming service, which has millions of subscribers and delivers multi-billion dollars of revenue annually.
"This transaction is the right next step for DIRECTV as we advance our vision and continue to evolve our product to offer consumers the broadest array of content," said Bill Morrow, CEO of DIRECTV. "Our team is the best in the business, and we are driven to provide innovative video services with an outstanding customer experience. We are eager to deepen our support from TPG and invest in our video services to benefit customers nationwide."
"DIRECTV is a pioneer in pay TV, and we are eager to continue to support the company's innovation of value-oriented streaming and video offerings for consumers," said David Trujillo, Partner at TPG. "DIRECTV will be in a stronger position to reinvigorate its core product offerings and accelerate investment in its next-generation streaming service. We look forward to continuing to support DIRECTV, alongside its talented team, to accelerate the company's strategic vision."
"DIRECTV has a 30-year legacy of innovating for consumers while providing greater value and better service than incumbent providers, and we are thrilled to extend our highly successful partnership together. With this transaction, DIRECTV will be better able to invest in advancing the next generation of video services that benefit consumers and provide a broad diversity of programming," said John Flynn, Partner at TPG.
Transaction Terms
Under the terms of the transaction, TPG will make an initial payment of $2.0 billion, subject to certain deductions, to AT&amp;T during 2025 and additional payments to AT&amp;T totaling $500 million in 2029. AT&amp;T expects to receive approximately $7.6 billion in cash payments from DIRECTV through 2029. The transaction also contemplates that DIRECTV will make a special distribution prior to March 31, 2025, of at least $1.625 billion that will be paid to the equity holders of DIRECTV, proportional to their respective ownership positions.
The transaction is expected to close in the second half of 2025, subject to customary closing conditions, including receipt of required regulatory approvals. Upon completion of the transaction, DIRECTV will continue to be led by its current management team, including CEO, Bill Morrow.
Advisors
Barclays is serving as lead financial advisor to TPG, and BofA Securities, Evercore, LionTree and Morgan Stanley also provided financial advice. Ropes &amp; Gray LLP, Cleary Gottlieb Steen &amp; Hamilton LLP and Mintz, Levin are serving as legal advisors to TPG.

TPG To Buy Remaining 70% Stake In DIRECTV For $2.5B, Plans To Boost Investments In Next-Gen Streaming And Video Services

<a href="https://nypost.com/2024/09/27/media/directv-dish-reportedly-close-to-reaching-a-merger-agreement-which-could-bring-in-more-than-20m-subscribers/" title="https://nypost.com/2024/09/27/media/directv-dish-reportedly-close-to-reaching-a-merger-agreement-which-could-bring-in-more-than-20m-subscribers/">https://nypost.com/2024/09/27/media/directv-dish-reportedly-close-to-reaching-a-merger-agreement-which-could-bring-in-more-than-20m-subscribers/</a>

'DirecTV, Dish reportedly close to reaching a merger agreement — which could bring in more than 20M subscribers' -New York Post Report

Ratings for AT&amp;T (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) were provided by 13 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for AT&amp;T, presenting an average target of $22.23, a high estimate of $30.00, and a low estimate of $18.00. This upward trend is apparent, with the current average reflecting a 6.93% increase from the previous average price target of $20.79.
<img src="https://www.benzinga.com/files/images/story/2024/1727449232_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
A clear picture of AT&amp;T's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Ivan Feinseth</td>
<td>Tigress Financial</td>
<td>Raises</td>
<td>Buy</td>
<td>$30.00</td>
<td>$29.00</td>
</tr>
<tr>
<td>Michael Rollins</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$24.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Craig Moffett</td>
<td>MoffettNathanson</td>
<td>Raises</td>
<td>Neutral</td>
<td>$18.00</td>
<td>$17.00</td>
</tr>
<tr>
<td>Gregory Williams</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Hold</td>
<td>$23.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Jeff Fan</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Outperform</td>
<td>$24.00</td>
<td>$23.00</td>
</tr>
<tr>
<td>Vijay Jayant</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$19.00</td>
<td>$18.00</td>
</tr>
<tr>
<td>Richard Choe</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$24.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Jonathan Atkin</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$19.00</td>
<td>$18.00</td>
</tr>
<tr>
<td>Timothy Horan</td>
<td>Oppenheimer</td>
<td>Raises</td>
<td>Outperform</td>
<td>$23.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Kannan Venkateshwar</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$22.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Maher Yaghi</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Outperform</td>
<td>$23.00</td>
<td>$22.50</td>
</tr>
<tr>
<td>Jonathan Atkin</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$18.00</td>
<td>$18.00</td>
</tr>
<tr>
<td>James Schneider</td>
<td>Goldman Sachs</td>
<td>Announces</td>
<td>Buy</td>
<td>$22.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to AT&amp;T. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of AT&amp;T compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for AT&amp;T's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Capture valuable insights into AT&amp;T's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/T/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on AT&amp;T analyst ratings.</a>
<h2>About AT&amp;T</h2>
The wireless business contributes nearly 70% of AT&amp;T's revenue. The firm is the third-largest US wireless carrier, connecting 72 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which account for about 16% of revenue, include internet access, private networking, security, voice, and wholesale network capacity. Residential fixed-line services, about 11% of revenue, primarily consist of broadband internet access, serving 14 million customers. AT&amp;T also has a sizable presence in Mexico, with 23 million customers, but this business only accounts for 4% of revenue. The firm still holds a 70% equity stake in satellite television provider DirecTV but does not consolidate this business in its financial statements.
<h3>AT&amp;T's Economic Impact: An Analysis</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Negative Revenue Trend: Examining AT&amp;T's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -0.4% in revenue growth, reflecting a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Communication Services sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 11.9%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): AT&amp;T's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 3.38%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 0.89%, the company showcases effective utilization of assets.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 1.4, caution is advised due to increased financial risk.
<h2>What Are Analyst Ratings?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Forecasting The Future: 13 Analyst Projections For AT&T

Tigress Financial analyst Ivan Feinseth maintains AT&amp;T (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) with a Buy and raises the price target from $29 to $30.

Tigress Financial Maintains Buy on AT&T, Raises Price Target to $30

DirecTV and Dish Network are reportedly in advanced talks to merge, potentially creating the largest U.S. pay-TV provider, with around 20 million subscribers. If completed, the deal could be announced in the coming days, the Wall Street Journal reported.
According to <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-09-26/directv-dish-are-said-close-to-clinching-merger-agreement" rel="noreferrer noopener">Bloomberg</a>, DirecTV, owned by AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) and TPG Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>), will control the newly formed entity, though details are still under negotiation.
The two companies have been steadily losing customers, with viewers opting for cheaper, more flexible streaming services such as Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>).
A merger would help DirecTV and EchoStar Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>), Dish&#8217;s owner, better compete with streaming services while addressing Dish&#8217;s rising debt levels.
Charlie Ergen, co-founder of Dish, has long sought this combination, though regulatory concerns hindered previous merger attempts. However, shifting from traditional pay TV to streaming may change regulators&#8217; stance.
According to the WSJ report, DirecTV currently <a target="_blank" href="https://www.wsj.com/business/media/directv-and-dish-near-deal-that-has-eluded-them-for-years-04238d00?mod=latest_headlines" rel="noreferrer noopener">serves</a> about 11 million customers, while Dish has 8 million, which is down significantly from its peak a decade ago.
The pay-TV industry has faced mounting challenges as viewers transition to streaming, with U.S. subscribers falling from 104 million in 2015 to less than 70 million in 2023. Both companies seek ways to cut costs and adapt to the rapidly evolving entertainment landscape.
A deal would also include Dish&#8217;s streaming brand, Sling TV, offering a broader range of services under the merged entity.
AT&amp;T previously spun off DirecTV in 2021, moving it into a joint venture with TPG. The telecom giant took a $15.5 billion impairment charge in 2020 to account for subscriber losses, while Dish has shifted focus to building a wireless network, accumulating debt in the process.
Regulatory hurdles remain a concern, particularly in rural areas where satellite TV has been a dominant service.
Price Action: At last check Friday, SATS stock was up 4.62% to $26.95&nbsp;during the premarket session. T stock was up 0.18% to $21.69.
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