Sprint Withdraws Bid to Acquire T-Mobile; Walgreens to Keep HQ in the U.S.
Stocks ended the day higher, seemingly shaking of the recent global turmoil. Sprint (S) announced today that they are withdrawing their bid to acquire T-Mobile (TMUS). This announcement comes on the same day that the wireless company named their new CEO, Marcelo Claure. Walgreens (WAG) has decided to keep its headquarters in the United States. The company recently acquired all of Alliance Boots, which is located in Europe, and many investors thought that they would relocate their headquarters to Europe to lower taxes.Wall Street overall disliked this decision, pulling Walgreen's shares down 11%.
Word on the Street
- Sprint (S) drops plans to acquire T-Mobile (TMUS).
- Groupon's (GRPN) fails to impress, shares fall 15%.
- Bank of America (BAC) raises quarterly dividend.
- 21st Century Fox (FOX) withdraws bid for Time Warner (TWC).
- 3 reasons why buyers should beware of ETFs.
- United States Cellular (USM) up on analysts upgrade despite lower earnings.
Published on Aug 6, 2014By InvestorGuide Staff