Leon G. Cooperman’s Omega Advisors has a portfolio that was worth $6.46 billion at the end of March, according to the firm’s latest 13F filing with the Securities and Exchange Commission. During the first quarter of the year, the firm bought 20 new stocks and increased its position in 30 others. It also exited 15 stocks and reduced its position in 11 others. The firm’s top 10 holdings make up for 38 percent of...
Read More »
Farallon Capital Management’s latest 13F filing with the Securities and Exchange Commission indicates that its portfolio was worth about $4.9 billion at the end of March. The firm bought 27 new stocks during the first quarter and increased its position in 11 other stocks. It sold completely out of 31 stocks and reduced its stake in 24 others. As of the end of March, the firm’s top 10 holdings made up more than 45...
Read More »
Clearwire Corporation (NASDAQ:CLWR) continues in its attempts to talk shareholders into voting for the buyout deal from Sprint Nextel Corporation (NYSE:S). A week ago, the company sent a letter to shareholders recommending the Sprint deal, and today the company’s board of directors says it has finished its due diligence and believes that the Sprint deal is the best option. As of this writing, shares of Clearwire Corporation were down 2.62 percent, while Sprint Nextel...
Read More »
DISH Network Corp (NASDAQ:DISH)’s first-quarter earnings fell 40 percent on higher costs. The satellite company was hit by various factors including the effects of a price increase, rising programming costs, and the continued downturn at Blockbuster. DISH Network Corp (NASDAQ:DISH) has struggled to combat subscriber losses amid a maturing U.S. subscription-television market and the growing popularity of online entertainment. The company launched a Blockbuster-branded streaming service last year and has attempted to attract more...
Read More »
Softbank Corp. (TYO:9984) (PINK:SFTBF) is appealing to Sprint Nextel Corporation (NYSE:S) as the drama in the telecommunications industry continues. The company said even though DISH Network Corp (NASDAQ:DISH)’s buyout offer was higher than its own, its offer is actually superior because it has experience with TD-LTE. A merger between Sprint Nextel and Softbank has been pending since late last year. The Japanese telecom company was set to buy 70 percent of Sprint Nextel. Then...
Read More »
Wireless service provider Clearwire Corporation (NASDAQ:CLWR) reiterated Monday that its proposed transaction with Sprint Nextel Corporation (NYSE:S) offers the best option for Clearwire’s minority shareholders. Sprint Nextel Corporation (NYSE:S) offered to buy Clearwire Corporation (NASDAQ:CLWR) in December for $2.2 billion but satellite TV provider DISH Network Corp (NASDAQ:DISH) announced a counterbid of $2.3 billion in January. Dish followed up in April by making a bid for Sprint. In a letter sent on Monday to the shareholders, Clearwire...
Read More »
Clearwire Corporation (NASDAQ:CLWR)’s biggest shareholders still oppose the Sprint Nextel Corporation (NYSE:S) buyout of the company, according to documents filed with the U.S. Securities and Exchange Commission this week. Not long after the documents were posted, Clearwire shares did an about-face and started rising—as much as 3 percent at the time of this writing after sagging all week. The documents indicate that several of Clearwire’s biggest shareholders, including Mount Kellett Capital Management LP and...
Read More »
Softbank Corp (OTCMKTS:SFTBF) (TYO:9984) president and CEO today criticized the rival offer from DISH Network Corp (NASDAQ:DISH) for Sprint Nextel Corporation (NYSE:S). Masayoshi Son said that Dish’s unsolicited $25.5 billion offer is incomplete and illusory. Son dismissed the idea of raising his $20.1 billion bid for a 70% stake in Sprint Nextel Corporation, and said his plans would provide Sprint shareholders better value. DISH Network Corp (NASDAQ:DISH) wanted to combine its satellite TV business with Sprint Nextel...
Read More »
DISH Network Corp (NASDAQ:DISH)’s unsolicited $25.5 billion offer to acquire Sprint Nextel Corporation (NYSE:S) has received a vote of confidence from Leon Cooperman of Omega Advisors Inc. and hedge fund billionaire John Paulson. That further diminishes the hope of Japanese telecom giant Softbank Corp (PINK:SFTBF) (TYO:9984), which agreed in October 2012 to acquire 70 percent stake in the U.S. wireless carrier. Leon Cooperman-led Omega Advisors Inc., which owns 1.9 percent stake in Sprint Nextel Corp. (NYSE:S),...
Read More »
DISH Network Corp. (NASDAQ:DISH) is desperate to break into the mobile industry—so desperate in fact, that it made a rival unsolicited bid for Sprint Nextel Corporation (NYSE:S) on Monday. The saga continues, but will this kick off a bidding war between DISH and Softbank Corp. (TYO:9984) (PINK:SFTBF)? Shares of Softbank Corp. (TYO:9984) (PINK:SFTBF) dropped as much as 10 percent today in the wake of DISH Network Corp. (NASDAQ:DISH)’s offer to buy Sprint Nextel out...
Read More »
Shares of Softbank Corp (PINK:SFTBF) (TYO:9984) declined Tuesday to their lowest level in six months in the Tokyo Stock Exchange, as investors feared that DISH Network Corp (NASDAQ:DISH)’s bid for Sprint Nextel Corporation (NYSE:S) may scuttle the Softbank Corp (PINK:SFTBF) (TYO:9984)’s $20.1 billion offer for the U.S. telecom company. Shares of Japan’s third largest telecommunications company were down 9.3 percent to 4,255 yen, and closed the day 6.8 percent lower at 4,290 yen. Yesterday, DISH Network Corp (NASDAQ:DISH) made...
Read More »
