Архив рубрики: Europe Crisis

TV Service

Dish Offers to Buy Sprint, Joining Phone to TV Service.
Smartphones, tablets and computers all pull data from the Internet, but people still pay two different bills: the high-speed connection they get at home and the wireless connection they get outside. Dish Network, the pay-TV operator, wants to bridge that gap.

Dish Network said on Monday that it had submitted a $25.5 billion bid for Sprint Nextel, the nation’s third-largest wireless carrier after Verizon Wireless and AT&T. It says that a merger between the two companies could roll television, high-speed Internet and cellphone services into a single package that would be faster and more affordable for consumers.
“It really means that we’re going to give consumers what every consumer wants,” Charles W. Ergen, Dish Network’s chairman, said in a phone interview. “They want broadband and video and voice in their home and want the exact same thing outside the home. And they want it to look and feel and priced outside the same as it is inside.”

Dish Network’s bid is an effort to scuttle the planned takeover of Sprint Nextel by the Japanese telecommunications company SoftBank, which agreed in October to acquire a 70 percent stake in the American cellphone operator in a complex deal worth about $20 billion.

Under the terms of its proposed bid, Dish Network said it was offering a cash-and-stock deal worth about 13 percent more than SoftBank’s bid.

Europe Crisis

Europe Crisis

Equities advanced earlier today as European governments will jump-start as much as 100 billion euros ($123 billion) in emergency loans to shore up Spain’s banks and may move the costs off the Spanish government’s balance sheet.

“The news out of Europe is another step in the right direction, but there’s a long way to go there,” said John Canally, an economist and investment strategist at LPL Financial Corp. in Boston. The firm oversees about $330 billion. “Then there’s the earnings season here. As always, the forecast matters a lot more than what actually happened.”

Eight out of 10 groups in the S&P 500 retreated today as industrial, commodity and technology shares lost at least 1.1 percent. The Morgan Stanley Cyclical Index of companies most- tied to the economy sank 1.6 percent. The Philadelphia Semiconductor Index (SOX) slumped 2.3 percent.

AMD tumbled 11 percent, the most since September, to $4.99. Demand is being hurt by slower growth in China and a worsening economic climate in Europe. The chipmaker also suffers as consumers shun PCs in favor of tablets, which rely on semiconductors made by other companies.