Masa Son remained optimistic about the rising value of SoftBank on his call with investors this morning. However, he didn’t have much to say on the sale of Sprint to T-Mobile, perhaps the biggest catalyst facing the stock this year. On the call, Masa highlighted the Vision Fund’s performance despite taking a $9 billion write down…
T-Mobile has not announced an extension of its merger agreement with Sprint. The deal passed its outside date deadline on Friday. That means that both companies have gained the option to terminate the deal at any time. We think Deutsche Telekom should use that flexibility to renegotiate the terms of the deal, given the erosion at…
While WarnerMedia did not address all of our ten questions heading into their HBO Max Investor Day (see our list, link), we now have a far better understanding of the growth strategy and financial plan for HBO Max, in addition to a first-look at what the service actually looks like (HBO Max is taking technology…
It has been nearly a year since the wheels came off at Activision Blizzard (ATVI). A company previously known for superior execution seemed to have lost its way in a hurry, not only to the detriment of investors, but also to ATVI’s relationship with its passionate player base. Since then, ATVI has moved quickly to execute a turnaround, and shares have moved…
Later today, we will be attending WarnerMedia’s first ever analyst day where management will unveil details and strategy for the coming launch of HBO Max and how it fits into their larger WarnerMedia/AT&T strategy. The single biggest question heading into today’s event is what will HBO Max be priced at and how will that impact…
SoftBank Chairman and CEO, Masa Son, has an opportunity to change a decidedly negative news cycle for the company if he is able to raise more money for Vision Fund 2. He will be attending the Future Investment Initiative in Riyadh this week to do just that, as highlighted by Fox Business. (Link) It would…
Following Snapchat’s Q3 2019 results, we are even more convinced that the stock can reach $20 over the coming year (link to our recent BUY rated initiation). Snapchat user growth continues to exceed investor expectations, with Snapchat giving its users more to do as it increasingly becomes a platform for the mobile generation leveraging Snapkit.…
At LightShed Partners, we are launching official coverage as opportunities arise, whether they be price dislocations or hard catalysts. Madison Square Garden has both right now, and we believe deserves immediate investor attention. We are initiating with a BUY rating and a $360 PT. Investors have acknowledged for some time that Madison Square Garden trades…
Comcast’s wireless net adds of 204,000 were slightly above expectations, but down 10.5% from last year, a three quarter trend of net declines >10%. It’s becoming increasingly clear that Comcast’s wireless offering is simply playing a supporting role to residential broadband, which performed well this quarter. It was only a few years ago that investors…
Last week, 7 economists called for a review of Makan Delrahim’s pending and conditional approval of T-Mobile’s acquisition of Sprint. (Link) As head of the DOJ’s Antitrust Division and a Trump appointee, Delrahim has been no stranger to scrutiny. A judge still needs to sign off on the Delrahim deal, as required under the Tunney…
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