Here’s look at some of the stocks the Yahoo Finance team will be watching for you today.
It’s official, the biggest owner of local TV stations is getting even bigger. Sinclair Broadcasting (SBGI) is buying rival Tribune Media (TRCO) for about $4 billion in cash and stock. That translates to $43.50 per share. This comes just weeks after the FCC eased rules that limit the number of TV stations broadcasters can own.
Comcast (CMCSA) and Charter Communications (CHTR) are also on investors’ watch list this morning after the cable rivals announced they’re teaming up to make inroads in the wireless space. The companies will cooperate on operating platforms and will work with each other on wireless deals for a full year. Both Charter and Comcast have struck agreements with Verizon (VZ) to offer customers wireless service.
Another deal is brewing in the wireless space. Straight Path Communications (STRP) shares soared in early trading following reports that the company has received a higher offer of $3.1 billion from an unnamed telecom firm. The new buyout bid is almost double AT&T’s (T) offer for Straight Path.
Tesla (TSLA) is getting the thumbs up from Evercore. The investment firm resumed coverage of the electric automaker with an “outperform” rating and a price target of $330 a share. Evercore calls Tesla “an extreme growth story.”