T-Mobile (NASDAQ:TMUS) +1% and Sprint (NYSE:S) +2.2% close the day up after Fox Business News journalist Charles Gasparino tweets that the companies are in last-minute settlement talks with New York’s AG.
A court battle against a dozen state AGs who oppose the merger will begin on Monday. The companies recently settled with Texas, which led to the state dropping out of the case.
Bernstein thinks WeWork’s (WE) “valuation is justified if you believe in the long-term, ‘office space’ will be a managed service outsourced to professionals — and that WeWork will be the leading global player.”
The group of analysts says investors are “fixated” on the heavy losses related to rapid expansion.
Bernstein compares WeWork to Starbucks and says WE could experience similar brand effects and economy of scale.
The analysts acknowledge the inherent risks with a business model that’s sensitive to capacity utilization but believes those risks can be managed.
As for SoftBank’s (OTCPK:SFTBF,OTCPK:SFTBY) bailout of WeWork, Bernstein suspects “SoftBank will have the last laugh when they bring the company back to market in a few years — bigger and profitable.”
WSJ sources say the U.S. Trade Representative’s Office could add some of Amazon’s (AMZN +0.6%) overseas sites to its “Notorious Markets” list, which flags marketplaces known for counterfeit goods.
No decisions have been made, and a similar consideration last year was abandoned.
The U.S. Department of Energy awards Leidos (LDOS +0.4%), Centerra Group, and Parsons Government Services a contract to perform a variety of services at the Hanford site.
The total award value is over $4B with a five-year base period with two potential options adding up to another five years.
Under the partnership, Alibaba (BABA +0.2%) has exclusive rights to Manchester United’s club content in China.
The content coming to BABA’s platforms includes select first-team matches, highlights, and localized original productions.
Video-streaming platform Youku will get a new dedicated Manchester United channel.
The parties will also collaborate on a future Manchester United flagship store on Tmall.
