Verizon Retirees Sue and 4 Telecom Titans Attracting Interest
AT&T, Inc. (NYSE:T) came in last in Consumer Report’s recently released annual rankings of wireless providers, but the company has fared a little better with its employees. CareerBliss employee happiness data has suggested that AT&T possesses an overall employee happiness score reaching 3.79 out of 5, and this is based on nearly 500 company reviews that were submitted by employees during the most recent 12 months. Though number isn’t too bad, it has fallen a bit from the previous year, when the company possessed a 3.85 overall happiness score.
Sprint Nextel Corp. (NYSE:S): NTELOS (NASDAQ:NTLS), which is a regional wireless retailer, has fallen due to research firm FBR’s prediction that the company’s partnership with Sprint wouldn’t be renewed with the expiration of the deal during 2015. FBR noted that NTELOS has obtained most of its profits from its partnership with the carrier via the Sprint Strategic Network Alliance, and this morning, the firm downgraded NTELOS to Underperform from Market Perform in a note to investors. Also, FBR has greatly reduced its price target on NTELOS to $5 from $21, and the firm expects that the company will be unable to keep the dividend if the alliance isn’t renewed. During mid-morning trading, NTELOS dropped $3.64, or 22.51 percent, to $12.51.
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Verizon Communications Inc. (NYSE:VZ) retirees sued the company due to its intention to transfer the responsibility of paying their pensions to an insurance company, where they will posses weaker legal protection. Last month, Verizon Communications Inc. stated that it would transfer $7.5 billion of its pension obligations, which covers 41,000 management retirees, to Prudential Insurance. This deal is effective in turning the company’s defined-benefit pensions into annuities. On Tuesday, members of the Association of BellTel Retirees sued in Dallas federal court. They want a court order that will pause deal, set to close during December.
MetroPCS Communications, Inc. (NYSE:PCS) rallied 3.5 percent to $10.49, and Guggenheim analyst Shing Yin stated that the wireless carrier possibly could get a bid during the next one to four weeks from Sprint for up to $13 a share.
Alcatel-Lucent, S.A. (NYSE:ALU) Buy rating was reiterated by equities researchers at AlphaValue, in a report that was issued on Friday. As of now, they possess a $3.06 target price on the stock.
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