Football is finally back, which marks the return of a number of our favorite things: beer, barbecues, tailgating, fantasy football, cheerleaders, and… tremendous cash injections for the U.S. economy. Although it is not considered “America’s Pastime,” the National Football League (NFL), not a public company, is easily the most profitable professional sports institution in America.
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Amazon Fires Back
In a highly anticipated move, Amazon (AMZN) announced the release of its Fire smartphone on Wednesday. With a platform customized around Google’s (GOOG) Android operating system, Fire is a competitive high-end market offering. However, without features that truly differentiate it from other smartphones, it is doubtful that Fire will initially gain the traction necessary to be competitive in an already crowded smartphone market.
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The Internet Of Everything
Last week, tech giant Cisco (CSCO) beat quarterly revenue estimates by $120 million and beat earnings guidance by $.03. Cisco issued its results in the late hours of May 14th, prompting an after-hours trading surge of Cisco stock. After closing at around $22.80 per share, Cisco opened on May 15th at over $24 and is now priced at $24.82. Additionally, Deutsche Bank upgraded Cisco to a “buy” rating, with a price target of $30.
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The $50 Billion Acquisition
Last week, AT&T (T), the second largest wireless provider in America, announced its intent to purchase satellite television provider DirecTV (DTV) for $50 Billion. The takeover will allow AT&T to bundle more television, mobile, and Internet plans while improving the quality of its overall services. By acquiring DirecTV, AT&T will now serve more than 26 million video users in the United States.
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Sprint, Your New BFF
Wireless telecommunications provider Sprint (S) aims to expand its share of the cellular services market by acquiring T-Mobile (TMUS), the fourth largest cell carrier in America. This move would not only cement Sprint’s position as the third largest American carrier, but would also increase its mobile spectrum, allowing Sprint to better compete with Verizon (VZ) and AT&T (T), the top two American market leaders.
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