On Wednesday, Shares of Frontier Communications Corporation (NASDAQ:FTR), gained 4.26% to $5.38, after an analyst upgraded the stock and raised its price target.
The provider of telephone service to small and rural communities spiked after DA Davidson upgraded the company to a buy from neutral, according to a report in Barron’s. However, the Davidson analyst lowered the price target on Frontier.
In making this decision to lower the price target to $6.50, the analyst, according to Barron’s, said, “Our new 12-month target is based on our multiple of 7.1 times (from 7.0x, to give benefit for the deal) to our 2016 EV/EBITDA estimate of $2,205 million. Our price target equates to a 6.5% yield.”
Meanwhile, Wall Street’s price target for Frontier is $7.23, according to a 24/7 Wall Street report. Frontier closed in the lower portion of its 52-week range of $4.90 to $8.46.
Frontier Communications Corporation, a communications company, provides regulated and unregulated voice, data, and video services to residential, business, and wholesale customers in the United States.
Shares of SandRidge Energy, Inc. (NYSE:SD), declined -3.15% to $1.23, during its last trading session, as crude oil prices have fallen after the weekly US oil report showed a rise in US crude output, against expectations that producers were pulling back.
US benchmark West Texas Intermediate for July delivery fell $US1.62, or 2.6 per cent, to $US59.64 a barrel in New York trade.
In London, Brent crude for July lost $US1.69, or 2.6 per cent, to $US63.80 a barrel.
SandRidge Energy, Inc., an oil and natural gas company, explores for and produces oil and natural gas properties primarily in the Mid-Continent region of the United States. The company operates through three segments: Exploration and Production, Drilling and Oil Field Services, and Midstream Services.
At the end of Wednesday’s trade, Shares of Macy’s, Inc. (NYSE:M), gained 1.74% to $69.68, hitting its highest level.
Macy’s, declared that it has signed a contract with zTailors, the first-ever nationwide on-demand digital tailor network, to provide customized alterations services for customers who buy men’s and women’s garments online.
zTailors is now being piloted for macys.com and bloomingdales.com customers in the Los Angeles area, with additional pilots to start later this month in metro New York City, San Diego and San Francisco, as well as in the states of Washington, Oregon and Florida. It will be expanded into additional markets this summer and be accessible nationwide by early fall 2015. Macy’s and Bloomingdale’s are the exclusive department store partners with zTailors.
The process is simple:
- When making an online purchase of a garment that may require alteration (such as a dress, suit, dress shirt, jacket, blazer, coat or jeans), customers who live or work in a designated service area can click to request tailoring and book an practiced, pre-qualified tailor in their area.
- Once the item purchased online is delivered to the customer, the tailor visits the customer’s home or office for a fitting and wardrobe consultation.
- Within a week or less, the tailor performs the alteration and delivers the item back to the customer. The charge, which varies by type of service, is similar to the rates for alterations in a Macy’s or Bloomingdale’s store.
- Once the altered item is returned by the tailor, the customer tries on the garment. Any re-dos are complimentary.
Macy’s, Inc., together with its auxiliaries, operates stores and Internet Websites in the United States. Its stores and Websites sell a range of merchandise, counting apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods.
Finally, T-Mobile US, Inc. (NYSE:TMUS), ended its last trade with -0.80% decline, and closed at $38.33.
Dish Network Corp. is in talks to merge with T-Mobile US Inc., though the purchase price is unresolved, the Wall Street Journal stated, citing people familiar with the negotiations.
John Legere, T-Mobile US’s president and chief executive officer, would take the top role at the combined company, and Dish’s Charlie Ergen would be chairman, according to the Journal report. The companies have a combined market value of about $64 billion, based on their closing prices Wednesday in New York.
Ergen, Dish’s largest shareholder, contacted T-Mobile parent Deutsche Telekom AG in September about acquiring the U.S. unit, people familiar with the talks said at the time. He has said he’s looking for acquisitions that will assist him put a $50 billion stockpile of airwaves to work, and he formerly lost a bid for Sprint Corp.
T-Mobile US, Inc., together with its auxiliaries, provides mobile communications services in the United States, Puerto Rico, and the U.S. Virgin Islands. The company offers voice, messaging, and data services in the postpaid, prepaid, and wholesale markets.
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