T-Mobile misses estimates for wireless subscriber additions
(Reuters) - T-Mobile reported on Thursday fewer new wireless subscribers than Wall Street expected for the first quarter, as rivals dial up on promotions to stay ahead in a competitive market.
Shares in the Bellevue, Washington-based company fell 3.9% in extended trading.
The company reported postpaid phone net additions of 495,000 in the quarter, compared to FactSet estimates of 506,400 additions.
(Reporting by Juby Babu in Mexico City; Editing by Alan Barona)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
41 minutes ago
- The Star
Mexico eases trade ban on Brazilian chicken
FILE PHOTO: Chicken is displayed in a fridge in a market in Sao Paulo, Brazil May 20, 2025. REUTERS/Jorge Silva/File Photo SAO PAULO (Reuters) -Mexico eased a ban on chicken shipments from Brazil, setting the restriction now only to products coming from the Brazilian state of Rio Grande do Sul, instead of a previous countrywide ban, Brazil's Agriculture Ministry said on Tuesday. On the other hand, the ministry said in a statement that Mauritania announced a countrywide ban on imports of Brazilian chicken, while Oman suspended chicken imports coming from Rio Grande do Sul state. Brazil last month identified a case of bird flu on a commercial farm in Rio Grande do Sul, triggering trade restrictions from dozens of countries. (Reporting by Andre Romani; Editing by Kylie Madry)
The Star
2 hours ago
- The Star
Firms keen to list on SGX
SINGAPORE: Interest from Singapore firms to list on the local bourse via initial public offerings (IPOs) and reverse takeovers (RTOs) has been returning ahead of a US$5bil capital injection that is expected to help revive the local stock market. 'We are currently working on several listings, including the Yangzijiang Maritime spin-off and the proposed RTO involving Sincap and Skylink Apac, both expected to list on the Singapore Exchange (SGX) within the year,' Ong Hwee Li, chief executive of corporate finance firm SAC Capital, told The Straits Times. This follows April announcements by SGX-listed Yangzijiang Financial to spin off its maritime investments into a separately listed company, and by Sincap Group to acquire vehicle leasing firm Skylink for S$42.3mil via an RTO, paving the way for Skylink to become publicly listed. SAC Capital is also advising 'two to three' local IPO aspirants in sectors including events management, real estate management and natural resources. These firms expect to list on SGX in 2026. 'We are receiving more listing inquiries, about one to two per month, from companies in other industries like construction, food and beverage, technology, and financing sectors, highlighting renewed interest in IPOs,' Ong said. He added that SAC Capital's IPO pipeline is now full, with much stronger investor interest in book building compared with 2024. Book building is a stage in the IPO process where investors bid for the number of shares they want at certain price points, which helps corporate advisers gauge demand for a company's shares and how to price them before they are listed on the stock exchange. These developments are being fuelled by a central bank-led programme to allocate US$5bil in seed capital to Singapore-based funds for investing in local stocks which are not on the benchmark Straits Times Index (STI). The STI tracks the performance of the top 30 largest and most liquid companies listed on SGX. Announced in February as part of a string of measures to revive the Singapore stock market, the programme has received positive interest from global fund managers. Suitable investment strategies will be shortlisted by end-September, the Monetary Authority of Singapore has said. Analysts reckon the funds will likely be deployed before the end of 2025. Listing interest has gained momentum as a result. On June 6, Bloomberg reported that Hong Kong-based Link-REIT is considering listing a real estate investment trust (REIT) in Singapore that would include some of its properties outside of China and Hong Kong, while Japan's Nippon Telegraph and Telephone in its earnings release in May said it plans to list its data centre REIT on the SGX. In May, Reuters reported that at least five companies from mainland China or Hong Kong are planning IPOs, dual listings, or share placements in Singapore in the next 12 to 18 months. The companies include a Chinese energy company, a Chinese healthcare group, and a Shanghai-based biotech group. In April, LHN Group announced plans to take its co-living business Coliwoo Group public on the SGX. The real estate management services group, dual-listed in Singapore and Hong Kong, said it has submitted applications in both places for the proposed spin-off and separate listing of the shares of Coliwoo on the mainboard of SGX. In January, Centurion Corp said in a bourse filing that it is exploring the establishment of a REIT involving some of its worker and student accommodation assets that it plans to list on the SGX main board. US data security firm AvePoint, which trades on Nasdaq, in January also filed for a secondary listing in Singapore. If they take place, these listings will give the SGX a much-needed boost after the bourse saw just four IPOs in 2024, a record low. The bourse has hosted just one notable IPO in 2025, that of automotive group Vin's Holdings, which is now trading at 29 US cents, close to its IPO price of 30 US cents. Key to their success is how the shares are traded post-listing, Ong said, noting that many IPOs, particularly on Catalist, are too small and have controlled floats, where a company limits the number of shares available for public trading. While a limited float may initially create strong demand and price momentum, it also means there is little market depth to absorb selling pressure once investor sentiment shifts. Ong noted that SAC Capital encourages retail participation in the IPOs it manages by offering automated teller machine (ATM) tranches, which allows retail investors to apply for shares directly through their bank ATMs. He added that retail investors who receive shares through the ATM tranche tend to trade more actively, contributing to a more diversified and engaged shareholder base post-listing. — The Straits Times/ANN
The Star
2 hours ago
- The Star
Hedge funds face California rebuke over role in wildfires claims
Hedge funds buying these claims from insurers are now under attack from the California Earthquake Authority, which is the administrator of the California Wildfire Fund. — Bloomberg LOS ANGELES: Hedge funds are facing pushback in California as their bets tied to insurance claims stemming from the Los Angeles wildfires are attacked as unethical. The transactions in focus are tied to so-called subrogation claims, which hedge funds, private equity firms and other alternative investment managers have been buying from insurers over the past few months. Subrogation kicks in if a third party such as a utility is suspected of being responsible for losses covered by insurers. Hedge funds buying these claims from insurers are now under attack from the California Earthquake Authority, which is the administrator of the California Wildfire Fund. It has described such transactions as 'opportunistic, profit-driven investment speculation' and said it's planning to take on 'hedge funds and other speculators' that it claims 'are actively seeking to profit from California's devastating wildfire catastrophes'. In practice, that means the authority will try to block the payout of what it said could end up being 'billions of dollars' to the investors that bought the claims, according to materials prepared ahead of a meeting that took place last month with the California Catastrophe Response Council, which oversees the fund. To that end, it plans to engage California's state legislature, according to a transcript of comments made during the meeting and seen by Bloomberg. A spokesperson for the authority declined to comment. Bradley Max, a director at Cherokee Acquisition, a New York-based investment bank that trades and invests in subrogation claims, said the development has 'put a chill on bidding', which is already visible in pricing. Subrogation rights tied to the Eaton Fire that ripped through Southern California in January were trading as high as 50 US cents on the dollar at one point, but have now dropped 'at least a few points lower', Max said. Even though the political development has led to lower prices on the subrogation claims, it hasn't held back transactions. Cherokee said in April it had brokered deals linked to the Los Angeles fires for 'larger, more sophisticated distressed debt hedge funds'. And by April 15, there had 'been at least 10 transactions, to date, totalling more than US$1bil worth of recovery rights between Eaton and Palisades' fires, investment bank Oppenheimer & Co Inc's co-head of special assets, Ronald Ryder, told the California Earthquake Authority. On April 17, Oppenheimer 'successfully traded' over US$125mil in claims in just one day, Ryder added. A spokesperson for Oppenheimer declined to comment. Cherokee didn't name the hedge funds for which it brokered deals. In an email to the California Earthquake Authority, Ryder said that as catastrophic weather events become 'more prevalent', insurers are increasingly resorting to 'recovery subrogation in the secondary market to fortify the balance sheet'. There's a growing consensus that insurers can't cover the rising costs of weather-related catastrophes alone, especially as climate change fuels more extreme events. — Bloomberg
