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U.S. Morning Call: Dish offers to buy Sprint for $25.5B

Monday, April 15, 2013 - 04:01

Apr 15 - Dish Network offering to buy Sprint Nextel today for $25.5 billion in cash and stock.

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Morning call for Monday -- Eric and just not giving up in the wireless Tug of war. His company DISH Network offering to buy all of Sprint Nextel today for 25 point five billion dollars in cash and stock. That's about seven dollars a share in the it could -- Japan's Softbank which offered to buy 70% sprint for twenty billion dollars last October. Today's offer is at a premium of roughly 12% to -- Friday close shares are up 13% in the premarket. We may have flow chart to -- this whole saga but here's another company to keep an eye out within the deal Clearwire. Dish originally made it five billion dollar in formal bid for Clearwire which is half followed by sprint the rest of the stock will also soon be owned by sprint. -- telling the Wall Street Journal that's one of the biggest reasons he wants to own sprint and he can have access to a large swath of spectrum controlled by Clearwire. Assuming the -- combo works out it will mean eleven billion dollars in savings for sprint. Commodities in freefall this morning after data showed China's economic recovery unexpectedly slowed in the first quarter. With GDP falling to seven point 7%. The world's largest miners Rio Tinto and BHP Billick time feeling the heat as a result. Gold not immune to the sell -- in metals touching its lowest since March 2011 falling below 14100. You're now looking at the largest gold ETF down 5% premarket as a result. Gold miners in particular hit hard stocks down as much as 4% this morning. Silver also tarnished in the premarket with the iShares ETF down 10%. S&P Dow and NASDAQ futures not a much better place today the slowdown in Asian and European markets trickling through before the open. Not to earnings Citigroup scheduled to release results of its first quarter undersea EO Michael -- back. Investors will want to know how -- about plans to return more money to shareholders. Since the bank has boosted its prisoners. City past the Fed's latest stress tests with a capital ratio eight point 3%. That's -- JPMorgan and Bank of America. What's not higher than bank at Bank of America though its stock wrote -- stock doubled in 2012 Citi stock was up 30% since last year. Analysts polled by -- mine expect the bank to -- profit estimate. Some stocks to watch and some marching waters for money managers at Wells Fargo. Reuters exclusively reporting that the bank is slashing an approved list of money managers and products. Exact saying that clamp down protects clients from exposure to too many investment models that have received little oversight. By next month the bank number portfolio managers will be cut in half but it's its investment strategies let's cut by more than a third. Next guest is making it watch. This time. Apple's stance on even FaceBook have been rumored to be working on a Smart watch. But it's Microsoft that's developing it watch for sure according to the Wall Street Journal. Executives at suppliers say they're working on designs great touch enabled watch device for mr. sloppy it's clear that actually go into production. And speaking of suppliers Foxconn ramping up hiring in China could be the latest sign apple is preparing production of new iPhone. Sources say apple could begin production of the newest version of the -- in the second quarter and it's possible a less expensive iPhone will accompany the new model. Checking on shares of apple this morning are down slightly in the premarket. That's it for your Monday morning call remembered a follow us on Twitter at Reuters Insider and get more great video that Reuters dot com slash latest TV. I'm Lisa Bernhard.

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U.S. Morning Call: Dish offers to buy Sprint for $25.5B

Monday, April 15, 2013 - 04:01