3 Telecom Stocks Seeing Action: T-Mobile’s Shares Slump, Vodafone Beats Expectations, AT&T’s New Plan
T-Mobile US (NYSE:TMUS): Shares of T-Mobile are slumping as the No. 4 U.S. carrier announced a 66.15 million share stock offering, which at current levels would result in proceeds of of $1.72 billion. The results will be put toward “general corporate purposes” including capital expenditures and spectrum purchases. The underwriters of the deal have an option to buy another 6.615 million shares.
Vodafone Group PLC (NASDAQ:VOD): Though Vodafone’s first half EBITDA dropped 4.1 percent to 6.6 billion pounds, it still beat analyst expectations, which called for 6.4 billion pounds. Revenue grew to 22.03 billion pounds (up 1.2 percent), though on an organic basis, it it fell 3.2 percent. The company is planning to invest 7 billion pounds ($11.18 billion) by March 2016 as part of the “Project Spring” that will improve its network to better help consumers who want to access the Internet via smartphones and tablets.