Deal or no deal… Can you close the deal now? Good. Sprint stock rose a very nice 69% in after-hours trading Monday following a report that a US District judge is expected to approve the $26.5B with T-Mobile. This approval would end the nearly two-year discussion as to whether the deal between the number 3 and 4 wireless providers would vastly limit the number of options consumers have when choosing a wireless carrier (spoiler: it would), and raise prices for customers.
Sprint wasn’t the only company to benefit, as T-mobile’s stock rose *checks notes* 8% in after-market trading.
Ups and downs Slack stock had one helluva day, rising enough that trading was halted when reports came out that IBM would make Slack its sole communications provider. Shares surged more than 15% on the news, as it guaranteed Slack Slack would have 350k more daily active users.
The only problem… was the minor detail that IBM was already Slack’s largest customer and has been for several years. The reality was that 300k of IBM’s employees already had access, and it was looking to expand that to the remaining 50k. Slack’s stock came back down to earth in after-hours trading, falling 7.27%. Hey, still up on the day. Not bad for a day’s $WORK.
Seeing green, and I ain’t talking spinach Allow me to reintroduce myself. The return of Popeye’s chicken sandwich had a big impact on the number of in-store fights but restaurant sales as well (who knew…). Restaurant Brands, the parent company of Popeyes and Burger King, topped EPS estimates (75 cents to 73 cents) and revenue projections ($1.48B to $1.46B).
Popeye’s same-store sales grew by 34% during Q4, which was the same quarter that the chicken sandwich was permanently brought back to the menu (November)… Coincidence? The sandwich was originally brought back in August but sold out before the month’s end. Restaurant Brands (QSR for some reason?) rose 2.74% on the day.
Really, not a single soul:
David Simon: “F*ck it, let’s buy another mall.”
Simon Property Group has chosen to expand its mall empire and buy rival Tauban Centers. The $3.6B deal comes weeks after Simon announced plans to contribute to a bankruptcy purchase of Forever 21 for $81M. This man must be stopped.
In an era where many mall landlords (Paul Blart?) are shedding debt and closing weaker locations, Simon has seemingly chosen to build his portfolio and rescue crucial tenants that might just be down on their luck. Some investors speculate that this deal may mean that mall owner share prices are nearing a bottom.