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The Capitalist Newsletter – April 7, 2017

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COMCAST JUMPS INTO WIRELESS SERVICE OFFERING WITH XFINITY MOBILE; HERE’S THE PLAN


Comcast Corp. unveiled a wireless service that offers unlimited data on Verizon Communications Inc.’s network for less than nearly every other competitor and said the venture will be profitable once it reaches hundreds of thousands of subscribers. While the pricing plans have some strings attached and are available only to Comcast’s internet and TV customers, the initial $45 unlimited offer is the lowest among the top U.S. wireless carriers and is likely to further escalate a price war that has ravaged the industry. Shares of the cable giant rose the most in more than two months…

Read More Here

Read More at TechCrunch

Read More at The Wall Street Journal


LYFT RAISES $500 MILLION AMID UBER TURMOIL, VALUED AT $7.5 BILLION

Ride-hailing start-up Lyft has raised a new $500 million round of funding, a source told CNBC, bolstering its valuation to about $7.5 billion, postmoney, as rival Uber faces scrutiny. Lyft was last valued at $5.5 billion in 2015, according to researchers at CB Insights. Some details of the funding round were previously reported by the Financial Times and The Wall Street Journal. Once known for adorning cars with fluffy pink mustaches, unicorn Lyft has launched an aggressive expansion. In January, Lyft said it planned to add 100 cities this year, increasing its coverage to 300 cities across the country — and it is already closing in on that goal.

Read More at CNBC Here

Read More at LA Times Here

Read More at Wall Street Journal Here



GOP TRIGGERS ‘NUCLEAR OPTION’ TO CLEAR PATH FOR GORSUCH CONFIRMATION

Senate Republicans on Thursday voted to strip Democrats of the power to filibuster President Trump’s nominee to the Supreme Court, invoking the so-called nuclear option. Senators voted 52-48 along party lines to change the Senate’s precedent, lowering the threshold for advancing Neil Gorsuch from 60 votes to a simple majority. They then …

Read More at The Hill Here

Read More at Bloomberg Here

Read More at NY Times Here


Closing Bell

– Thursday, April 6th

Markets Edge UP as Financials Tick North

Big Insider Trades

– Square, Inc. (SQ) CEO Jack Dorsey Sells $6.5m

– Apollo Global Management LLC (APO) Stakeholder Tiger Global Management Buys $10m

Winners & Losers

– Sunoco LP (SUN) Jumps UP (20.24%) After Agreeing to Sell Company to 7-Eleven Operator for $3.3 Billion

– Synacor, Inc. (SYNC) Tumbles Down as Company Sells More Shares in Common Stock Offering

Most Talked About

Unilever PLC (UL) a Unanimous Strong Buy After Selling Spreads Business and Vowing to Cut Half its Consultants in Wake of Kraft Bid

The TIP Sheets

– Thursday, April 6th

– L Brands, Inc. (LB) Rises UP (11.02%) as the Victoria’s Secret Owner Reports Better than Expected Same Store Sales Declines. However, Retail Needs to Show More Legs Before Buying. Expect Shares to Fall Back DOWN

Unusual Volume

Rite Aid Corp. (RAD) Rises UP (7.75%) on 33m Shares Traded After Acquisition Partner Fred’s Reiterates Commitment to Take Over Rite Aid. Expect Shares to Continue UP

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