Forex News 24

Plastic Straw Ban: Whole Foods Joins List in Banning Plastic Straws Plastic Straw Ban: Whole Foods Joins List in Banning Plastic Straws
DISH Network News: Why DISH Stock Is Diving Today DISH Network News: Why DISH Stock Is Diving Today
Ford Layoffs 2019: 8 Things to Know About the Upcoming Job Cuts Ford Layoffs 2019: 8 Things to Know About the Upcoming Job Cuts
S&P 500 Lower Gaps Continue as Trade War Confidence Erodes
Please RSVP: tastyrade's Tom Sosnoff vs. Marc Chaikin [LIVE]
Monday Apple Rumors: iOS 12.4, UltraFine Display and Apple Watch News Monday Apple Rumors: iOS 12.4, UltraFine Display and Apple Watch News
Bitcoin analysis for May 20, 2019
5 Large-Cap Stocks Holding Steady Amid Trade War Concerns
April UK Inflation & GBPJPY Price Forecast
Why Sprint Stock Will Run Above $8 With FCC Approval

Plastic Straw Ban: Whole Foods Joins List in Banning Plastic Straws Plastic Straw Ban: Whole Foods Joins List in Banning Plastic Straws

Posted: 20 May 2019 02:49 PM PDT

Whole Foods is the latest big name to join the plastic straw ban initiative as the company said we are only a couple of months away from beginning to offer paper straws in an attempt to help save the environment.

Source: Shutterstock

The Amazon-owned grocer has responded to customer demands, unveiling that it has joined the list of companies banning plastic straws. The business said it will stop serving plastic straws across all of its 500 stores located in the U.S., the United Kingdom and Canada.

Whole Foods adds that it believes it is the first national grocery chain to enact such a ban, which will no longer see it serve plastic straws at its juice and coffee bars, as well as its cafes. The company said it will start offering paper straws beginning in July, although plastic straws will still be made available for customers with disabilities upon request.

The grocery business said it will also reduce the amount of plastic it uses in other parts of its stores as it will offer smaller plastic bags in the produce department. Whole Foods will also start using new bags for its rotisserie chicken, using 70% less plastic than the hard plastic cases they are currently available in.

The grocer stopped giving out disposable plastic bags in 2008 as it now offers only paper bags. It also sells reusable plastic bags.

Article printed from InvestorPlace Media, https://investorplace.com/2019/05/plastic-straw-ban-list-of-companies-whole-foods/.

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DISH Network News: Why DISH Stock Is Diving Today DISH Network News: Why DISH Stock Is Diving Today

Posted: 20 May 2019 02:10 PM PDT

DISH Network (NASDAQ:DISH) stock took a hit on Monday as the company unveiled plans to acquire EchoStar's Broadcast Satellite Service (BSS) business in a deal that's reportedly worth more than $800 million.

The move will see the Englewood, Co.-based television service provider acquire some operations and other assets from EchoStar's BSS segment. DISH will shell out roughly 22.9 million shares of its stock to be distributed to EchoStar shareholders, which tallies up to over $800 million–the Friday closing price of the stock was $35.33 per share.

More specifically, DISH will attain nine Direct Broadcast Satellites (DBS), as well as certain key employees who are integral to the business' satellite operations. The company will also get licensing for EchoStar's 61.5-degree orbital slot, as well as select real estate properties.

The DBS satellites included in the acquisition include the EchoStar VII, EchoStar X, EchoStar XI, EchoStar XII, EchoStar XIV, EchoStar XVI, EchoStar XXIII, Nimiq 5, as well as the QuetzSat-1. "In 2017, when DISH acquired the EchoStar assets that we needed to deliver the DISH TV and Sling TV customer experiences, key broadcast satellite operations and services remained with EchoStar," said DISH Network President and CEO Erik Carlson.

"This transaction brings those operations, including the BSS satellites, associated assets and key team members, in house and we expect those additions will create operational efficiencies and improve both free cash flow and EBITDA," he added.

DISH stock is down roughly 5.9% on Monday following the news.

Ford Layoffs 2019: 8 Things to Know About the Upcoming Job Cuts Ford Layoffs 2019: 8 Things to Know About the Upcoming Job Cuts

Posted: 20 May 2019 01:33 PM PDT

<br /> Ford Layoffs 2019: 8 Things to Know About the Upcoming Job Cuts Ford Layoffs 2019: 8 Things to Know About the Upcoming Job Cuts | InvestorPlace

300 additional jobs will be cut by end of June

By Karl Utermohlen, InvestorPlace Writer

May 20, 2019, 4:17 pm EDT

May 20, 2019

Ford (NYSE:F) has announced a new round of layoffs this week, informing workers that they will need to clean their desk by the end of the week.

Here are eight things to know about the job cuts:

The letter was sent by CEO Jim Hackett on Monday, asking 500 salaried workers that they were being laid off.
The Ford layoffs are part of a broader organizational redesign effort fueled by higher import tariffs for cars and car parts coming from the European Union and Japan enacted by the current presidential organization.
The job cuts are expected to continue, reaching 800 by the end of June and 7,000 worldwide by the end of August.
The letter said it will cut management ranks by 20%, saving the company about $600 million a year.
"We also made significant progress in eliminating bureaucracy, speeding up decision making and driving empowerment as part of this redesign," Hackett wrote.
The Ford CEO added that he hopes the departure is as painless as possible, thanking the workers for their service to the company, adding that they have "a range of resources and services in place to support employees in managing this transition."
Roughly 1,500 Ford workers took voluntary buyouts last year, according to company spokesman Daniel Barbossa in an email to NBC News.
Ford's $11 billion restructuring efforts have also led to the closures of numerous plants, as well as investing billions into electric vehicles and self-driving cars.

F stock is down about 0.2% on Monday.

Article printed from InvestorPlace Media, https://investorplace.com/2019/05/ford-layoffs-job-cuts-f-stock/.

S&P 500 Lower Gaps Continue as Trade War Confidence Erodes

Posted: 20 May 2019 01:31 PM PDT

S&P 500 Outlook:

The S&P 500 has suffered an average -1.43% gap lower on Monday's this May
In the month to date, over 71% of all trading sessions have seen the index open lower than it closed the session prior
Retail traders are overwhelmingly short the S&P 500, find out how to use IG Client Sentiment Data with one of our Live Sentiment Data Walkthroughs

S&P 500 Lower Gaps Continue as Trade War Confidence Erodes

Trade war tensions continue to weigh on the S&P 500 after the United States' decision to blacklist Huawei on concerns of national security risk. In turn, many of the Index's top growth stocks were crippled in Monday trading and the decision could have deeper ramifications for the tech industry – particularly semiconductors. While the longer-term implications unfold, the immediate reaction was clear.

S&P 500 Price Chart Daily Time Frame (March 2019 – May 2019) (Chart 1)

Gap percentage indicator in red

Staying true to form, the S&P 500 staged another gap lower at Monday's open. The -0.62% gap was the third consecutive lower Monday open for the Index which is now on pace for the most bearish gaps in a month since last May when it opened lower 16 times in 22 sessions.

S&P 500 Gap Measure Indicator: Daily (January 2018 – May 2019) (Chart 2)

USDCNH: Why 7.00 is the Spot to Watch in the US-China Trade War

While the number of gaps is likely just a coincidence, some traders may put forth the "sell in May and go away" idea as a driving force behind the moves. That said, the phenomenon has proved less reliable in recent years and the onset of fundamental factors has undoubtedly played a major role. With 8 sessions left in the month, the S&P 500 looks poised to end lower – currently -3.75% beneath its opening price in May.

If last year was any indication, the months following May could continue the recent trend. From May to December 31, 2018, the S&P 500 shed roughly 5% – the majority of which was lost in December's rout. In the shorter-term, both President Trump and Fed Chairman Jerome Powell are slated to speak Monday night. Given the fragile state of trade tensions and the market, traders should look to avoid equity exposure over weekends, and key an eye on volatility for hints of rising uncertainty.

–Written by Peter Hanks, Junior Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

DailyFX forecasts on a variety of currencies such as the US Dollar or the Euro are available from the DailyFX Trading Guides page. If you're looking to improve your trading approach, check out Traits of Successful Traders. And if you're looking for an introductory primer to the Forex market, check out our New to FX Guide.

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2019-05-20 20:10:00

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Please RSVP: tastyrade's Tom Sosnoff vs. Marc Chaikin [LIVE]

Posted: 20 May 2019 01:04 PM PDT

‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

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PRESENTED BY:
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and creator of Chaikin Money Flow &
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Tomorrow, May 21st | 4:15 pm (ET)

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Tomorrow, two options trading legends are about to face-off on how to trade the market’s most popular stocks.

And you’re invited!

Marc Chaikin (the Creator of Chaikin Money Flow) and Tom Sosnoff (the founder of tastytrade and Thinkorswim) are going head-to-head at the Options Strategy Showdown! This event will be live, and it’s completely free to watch.

You’ll want to take notes for this!

Where Marc Chaikin and Tom Sosnoff think the market is going, now through 2020
The best stocks to trade right now (and which to avoid!)
How to master timing to get the most out of every trade

Note: Register now because this is a must-see event and it’s filling up quickly.

About Marc Chaikin

After 40 years on Wall Street as a trader, stock broker, analyst and head of the options department for a major brokerage firm, Marc founded Chaikin Analytics LLC to deliver proven stock analytics to investors and traders, based on the Chaikin Power Gauge stock rating, a 20-factor alpha model proven effective at identifying a stock’s potential. Marc developed computerized stock selection models and technical indicators that have become industry standards (including Chaikin Money Flow) and pioneered the first real-time analytics workstation for portfolio managers and stock traders.

About Tom Sosnoff

Tom Sosnoff is a recognized online brokerage innovator and sought-after financial educator. Tom is a true visionary and serial entrepreneur who co-founded thinkorswim in 1999, tastytrade in 2011 and newly launched tastyworks in 2017. Leveraging over 20 years of experience as a market maker for the Chicago Board Options Exchange (CBOE) and one of the original OEX traders in the S&P 100 Index pit, Tom pursued a vision to educate retail investors in options trading and to build a superior software platform and a brokerage firm that specialized in options. His efforts ultimately changed the way these instruments traded by pioneering everything from single click complex trading functionality to multi-product access from a single platform. Currently, Tom is the co-host of tastytrade Live and continues to drive innovation and know-how to the do-it-yourself investor.

Tom has been named to Techweek’sTech 100 list, Crain’s Chicago’s Tech 50, and has spoken at Chicago Ideas Week, Techweek Chicago, TD Ameritrade’s Market Drive events, Money Show, University of Chicago TEDx and the “He Said She Said” Tour for tastytrade. Tom received the Ernst & Young Entrepreneur of the Year Award in 2014 and has been featured by prominent publications such as the Chicago Tribune, Crain’s Chicago, Traders Mag and Barron’s.

P.S. Can’t attend? Register anyway to get the recording.

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2019-05-20 20:01:37

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Monday Apple Rumors: iOS 12.4, UltraFine Display and Apple Watch News Monday Apple Rumors: iOS 12.4, UltraFine Display and Apple Watch News

Posted: 20 May 2019 12:51 PM PDT

The new week's Monday Apple (NASDAQ:AAPL) rumors are here and there's plenty to be discussed, including the company's new OS, an advanced computer display and Apple Watch update news.

Source: Apple

Here's what you should know regarding the company today:

iOS 12.4: Apple said that it seeded the second beta of an upcoming iOS 12.4 update to developers, nearly one week after seeding the first iOS 12.4 beta. Registered developers can download the beta from the company's Developer Center or over-the-air once the right configuration profile has been installed from the Developer Center. It is unclear what exactly is coming with the update.

UltraFine Display: It's no secret that supplies of the LG UltraFine 4K and 5K display have been hard to find at Apple's retail and online stores. However, some of its retail stores have reportedly been carrying a new $700, 23.7-inch UltraFine display from LG. The display was located at two different company stores, but not on its online store.

Apple Watch Upgrade: Those seeking a repair for their Apple Watch Series 3 may receive a free upgrade as the company may be running short on its Series 3. This means that some consumers will receive the newer Apple Watch Series 4. The tech giant unveiled the change in an internal memo to Apple Store repair staff, as well as its Authorized Service Providers.

AAPL stock is up about 3.5% on Monday following this week's Monday Apple rumors.

Article printed from InvestorPlace Media, https://investorplace.com/2019/05/monday-apple-rumors-aapl-stock-2/.

Bitcoin analysis for May 20, 2019

Posted: 20 May 2019 12:31 PM PDT

Bitcoin has been trading upwards in past 24h but the BTC hit overbought condition. Watch for selling opportunities.

According to the H4 time-frame, we found that there is the buying climax in the background followed by the up-thrust (reversal bar), which is sign that buying at this stage looks risky. Also, key swing high at the price of $8.312 is still we defended and as long as this swing high is holding, we will watch for selling opportunities. Additionally, we found that breakout of the support trendline (green trendline).

Upward references are set:

Swing high – $8.225

Major swing high – $8.312

Downward references are set at:

Swing low – $7.030

Swing low 2– $6.820

The material has been provided by InstaForex Company – www.instaforex.com
2019-05-20 18:09:28

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5 Large-Cap Stocks Holding Steady Amid Trade War Concerns

Posted: 20 May 2019 12:16 PM PDT

U.S. equities are trading with modest losses on Monday as the U.S.-China trade standoff looks set to take a turn for the worst. The latest is chatter that Beijing could retaliate with an export ban on rare earth metals into the United States, with President Xi Jinping visiting the facilities of JL MAG Rare-Earth in what looks like a scripted warning.

This follows the over-the-weekend signing of an executive order by President Trump that prohibits U.S. companies from doing business with Huawei without getting a special license first. This is adding to the impression that the trade fight isn't going to be resolved anytime soon and could well be a drag on both economic and earnings growth going forward.

Investors, for their part, are seeking refuge in key defensive stocks that are holding up well in the volatile environment. Here are five large-cap stocks to consider:

MasterCard (MA)

Click to Enlarge

MasterCard (NYSE:MA) shares are flirting with new record highs on Monday, continuing to pressure the $255-a-share level, capping a massive 46% rally off of the lows seen in late December. The company recently announced an extended partnership with Lyft (NASDAQ:LYFT) to provide drivers with immediate access to their earnings.

The company will next report results on July 30 before the bell. Analysts are looking for earnings of $1.82 per share on revenues of $4.1 billion. When the company last reported on April 30, earnings of $1.78 beat estimates by 12 cents on a 8.6% rise in revenues.

Microsoft (MSFT)

Click to Enlarge

Microsoft (NASDAQ:MSFT) shares are consolidating near recent highs around the $130-a-share threshold. Recent results have revealed growing momentum in its Office and cloud businesses. The company has been busily penning partnership agreements with the likes of Sony (NYSE:SNE) and JPMorgan Chase (NYSE:JPM) to pursue new strategic initiatives around technology like blockchain and AI.

The company will next report results on July 18 after the close. Analysts are looking for earnings of $1.21 per share on revenues of $32.6 billion. When the company last reported on April 24, earnings of $1.14 beat estimates by 14 cents on a 14% rise in revenues.

Visa (V)

Click to Enlarge

Visa (NYSE:V) shares are also hovering near recent highs, attempting to break through the $165-a-share level, capping a near 40% rally off of the lows set in late December. The 50-day moving average has been providing consistent and steady support, setting up a breakout to new records. Coverage was recently resumed at Goldman with a Buy rating.

The company will next report results on July 24 after the close. Analysts are looking for earnings of $1.33 per share on revenues of $5.7 billion. When the company last reported on April 24, earnings of $1.31 per share beat estimates by 7 cents on an 8.3% rise in revenues.

Disney (DIS)

Click to Enlarge

Disney (NYSE:DIS) shares are sitting in the middle of a two-month consolidation range that capped a 22% rally out of a long consolidation channel going all the way back to 2015. The big recent news was that the company assumed full operational control of over-the-top streaming provider Hulu — broadening the company's efforts to challenge Netflix (NASDAQ:NFLX).

The company will next report results on Aug. 7 after the close. Analysts are looking for earnings of $1.7 per share on revenues of $21.5 billion. When the company last reported on May 8, earnings of $1.61 per share beat estimates by 4 cents on a 2.6% rise in revenues.

Pepsi (PEP)

Click to Enlarge

Pepsi (NASDAQ:PEP), like Coca-Cola (NYSE:KO), is enjoying a steady bid here as investors flock to defensive consumer staple names. The push to new record highs marks an exit from a three-year-long consolidation range centered near $110. The company was recently upgraded by analysts at Goldman, lifting their rating out of sell territory.

The company will next report results on July 9 before the bell. Analysts are looking for earnings of $1.5 per share on revenues of $16.3 billion. When the company last reported on April 17, earnings of 97 cents per share beat estimates by 4 cents on a 2.6% rise in revenues.

As of this writing, William Roth did not hold a position in any of the aforementioned securities.

April UK Inflation & GBPJPY Price Forecast

Posted: 20 May 2019 12:14 PM PDT

GBPJPY Price Forecast Talking Points:

The April UK Consumer Price Index is due on Wednesday, May 22 at 08:30 GMT.
Even as measures of inflation turn higher – mirroring the rebound in oil prices in the first four months of the year – Brexit means that the Bank of England still won't be able to act.
Retail traders are net-long GBPJPY gives us a further mixed GBPJPY trading bias.

Join me on Mondays at 7:30 EDT/11:30 GMT for the FX Week Ahead webinar, where we discuss top event risk over the coming days and strategies for trading FX markets around the events listed below.

05/22 WEDNESDAY | 08:30 GMT | GBP Consumer Price Index (APR)

The rebound in oil prices in the first four months of 2019 has been a driving factor behind the rebound in inflation readings across the world in recent weeks, and the forthcoming April UK Consumer Price Index should fit this pattern. According to a Bloomberg News survey, the upcoming April UK inflation report is forecast to show headline inflation due in at 2.2% from 1.9% (y/y), while the monthly reading is due in a 0.7% from 0.2%. Core CPI is expected to have increased to 1.9% from 1.8% (y/y).

With Brexit tensions running high again ahead of the European parliamentary elections this week and perhaps the last-ditch effort by UK Prime Minister Theresa May to save the EU-UK Withdrawal Agreement next week, it seems likely that economic data will remain out of the spotlight in the days ahead. In other words, any Brexit-related developments would quickly overwhelm any reaction to the April UK inflation report this week.

Pairs to Watch: EURGBP, GBPJPY, GBPUSD

GBPJPY Technical Analysis: Daily Price Chart (December 2017 to May 2019) (Chart 1)

On May 8, GBPJPY prices started to breakout of their sideways consolidation dating back to mid-February, closing below 143.78 for the first time since February 18. Since then, bearish momentum has been strong, with no close back above the daily 8-EMA going back to May 6. Both daily MACD and Slow Stochastics continue to push lower in bearish territory as GBPJPY prices have cleared out the February swing low at 141.01.

With the daily 8-EMA currently at 141.31, there is a strong resistance zone overhead to watch at the start of the week: if GBPJPY moves back above the 141.01/31 area, then it stands to reason that the recent selloff move has reached its exhaustion point. Until GBPJPY moves back above the daily 8-EMA, however, the price forecast remains bearish.

IG Client Sentiment Index: GBPJPY (May 20, 2019) (Chart 2)

GBPJPY: Retail trader data shows 73.5% of traders are net-long with the ratio of traders long to short at 2.78 to 1. In fact, traders have remained net-long since May 06 when GBPJPY traded near 145.886; price has moved 4.1% lower since then. The number of traders net-long is 11.3% higher than yesterday and 23.6% higher from last week, while the number of traders net-short is 13.8% higher than yesterday and 1.5% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBPJPY prices may continue to fall. Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further mixed GBPJPY trading bias.

FX TRADING RESOURCES

Whether you are a new or experienced trader, DailyFX has multiple resources available to help you: an indicator for monitoring trader sentiment; quarterly trading forecasts; analytical and educational webinars held daily; trading guides to help you improve trading performance, and even one for those who are new to FX trading.

— Written by Christopher Vecchio, CFA, Senior Currency Strategist

To contact Christopher, email him at cvecchio@dailyfx.com

Follow him in the DailyFX Real Time News feed and Twitter at @CVecchioFX

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2019-05-20 19:00:00

Why Sprint Stock Will Run Above $8 With FCC Approval

Posted: 20 May 2019 11:38 AM PDT

When it comes to wireless coverage provider Sprint (NYSE:S), the narrative over the past year-plus has been dominated by its proposed merger with T-Mobile (NASDAQ:TMUS). Long story short, the two companies proposed an all-stock merger back in April 2019 to turn the wireless coverage industry into a three horse race. Both boards approved the deal, and management teams at both Sprint and T-Mobile have been pointing to summer 2019 as the official closing date for this merger.

Why Sprint Stock Will Run Above $8 With FCC Approval

But, the deal has come under heavy regulatory scrutiny due to the lack of competitors in the wireless coverage industry. As a result, both T-Mobile and Sprint have promised big concessions in the event that the merger passes. Those concessions worked. On May 20, FCC Chairman Ajit Pai told Bloomberg that, in light of those concessions, he is going to recommend to his colleagues that they approve the merger. Sprint stock soared 25% in response.

Indeed, Sprint stock now just trades a few percentage points below the proposed takeover price.

In other words, the market is now saying that, with FCC approval, the Sprint/T-Mobile merger is essentially a done deal. On the opposite side of that argument, CNBC's David Faber warns that the merger needs both FCC and DoJ approval. DoJ antitrust chief Makan Delrahim said as recently as late April that he has "not made up … [his] mind" on the merger yet.

Will the concessions and FCC approval change his mind? Probably. As such, Sprint stock will likely run higher from here until it hits the takeover price.

Odds of Merger Approval Are Close to 100%

At this point in time, the odds of merger approval for Sprint/T-Mobile are close to 100%. To understand why, we have to understand the context of the merger.

When the Sprint/T-Mobile merger was announced, many skeptics were quick to point out that this merger will have a tough time getting through the FCC and DoJ. After all, the wireless coverage industry only has roughly four relevant players. This merger would effectively narrow the industry into a three-horse race, and that opens up the threat of service provider collusion at the expense of the consumer.

In particular, Sprint and T-Mobile would combine to have a 42% market share in the prepaid market. That market is known for having lower income consumers. Thus, a Sprint/T-Mobile merger would open the door for those lower-income consumers to be taken advantage of through monopolistic pricing practices, especially against the backdrop of a 5G roll-out.

Because of these prepaid market collusion concerns, the FCC and DoJ investigations into the matter dragged on without any conclusion. Then, Sprint and T-Mobile made their concessions. The most notable of the concessions: a sale of one of the prepaid brands and a reiterated pledge not to raise prices during the three-year build-out of a 5G network.

In other words, T-Mobile and Sprint did exactly what they needed to with their concessions, which is reassuring regulators that the combined entity would not force higher prices on the consumer. The FCC was impressed, and that group will likely approve the deal soon. The DoJ hasn't commented, but historically speaking, the FCC has a higher competitive standard than the DoJ. Thus, if the FCC approves, history says that the DoJ should approve, too.

Broadly, then, the odds of T-Mobile and Sprint merging into one company are very close to 100%.

Sprint Stock Deserves to Trade Above $8

The Sprint/T-Mobile merger is an all-stock transaction in which Sprint stock is valued at a fixed rate of T-Mobile stock. That rate? One share of Sprint equals 0.10256 shares of T-Mobile.

Right now, T-Mobile stock is trading around $80. Thus, the merger values Sprint stock at roughly $8.20. All else equal, that's where the stock will head if the deal gets FCC and DoJ regulatory approval. However, pre-merger talks, Sprint stock was trading down near $4. If the deal falls through, that's where Sprint stock will fall.

At the current moment, Sprint stock is trading around $7.80. That assumes 90% chance of approval (and a rally towards $8.20) and 10% chance of no deal (and a drop towards $4). At the current moment, those odds feel appropriate.

But, it also seems very likely that the odds move closer to 100/0 over the coming days as FCC and DoJ approvals come through the pipeline. Once they do, Sprint stock will rally towards $8.20, and potentially even higher if T-Mobile stock moves higher in tandem.

Consequently, it seems like only a matter of time before Sprint stock runs above $8.

Bottom Line on Sprint Stock

When it comes to Sprint stock, it's all about the T-Mobile merger, and that merger just scored a huge win with approval comments from the FCC chair. At this point in time, odds of the merger going through are very high, and inching closer towards 100%. As those odds do inch closer to 100% over the next few days, Sprint stock should rally above $8.

As of this writing, Luke Lango was long S and TMUS.

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Forex News 24

Forex News 24

300 additional jobs will be cut by end of June

S&P 500 Outlook:

S&P 500 Lower Gaps Continue as Trade War Confidence Erodes

S&P 500 Price Chart Daily Time Frame (March 2019 – May 2019) (Chart 1)