On this episode of Stock Movers:
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Scarlet Fu, Tim Stenovec and Isabelle Lee
- EchoStar (SATS) has agreed to sell spectrum licenses to AT&T Inc. for about $23 billion in a deal that will help the company stay out of bankruptcy and fend off regulatory concerns about its airwave use. The sale will expand AT&T’s network and add about 50 MHz of low-band and mid-band spectrum in an all-cash transaction, the Dallas, Texas-based telecommunications company said in a statement on Tuesday. The deal is expected to close by mid-2026, pending regulatory approval. Both the White House and the Federal Communications Commission were briefed about the transaction before the announcement, according to multiple people familiar with the discussions who asked to not be identified because the talks were private. America’s leadership in wireless services has a been a priority for President Donald Trump, according to a White House official, who said the president believes this deal will accelerate the use of the wireless spectrum.
- Keurig Dr. Pepper (JDEPY) shares slid as investors consider the news over the weekend that the company agreed to buy JDE Peet’s NV for €15.7 billion ($18.4 billion) to bolster its struggling coffee business before kicking off a split of its operations. The company will pay €31.85 a share in cash for the Dutch firm, a 20% premium over its closing price on Aug. 22, according to a statement Monday. Keurig Dr Pepper plans to separate its coffee and soft drinks units into two independent, US-listed companies next year once the deal is completed.
- Constellation Brands (STZ) shares fall as much as 2.5% after Bank of America analyst Peter Galbo downgrades the alcohol beverage company to underperform from neutral. BofA holds the only sell-equivalent rating, according to data compiled by Bloomberg.
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