Scalper1 News
Charter Communications ( CHTR ) stock fell Monday after the soon-to-be No. 2 cable TV firm was not added to the S&P 500, as some analysts and investors had expected, following the final approval of its Time Warner Cable acquisition. Standard & Poor’s announced late Friday that Digital Realty ( DLR ), a data center operator whose stock has been rising of late, would replace Time Warner Cable in the S&P 500 . Digital Realty will take TWC ‘s place on the index after the close of trading on Tuesday. Charter expects to close its purchases of Time Warner Cable and Bright House Networks on Wednesday, after gaining the final regulator OK on Thursday. It will then become the No. 2 cable company, behind Comcast ( CMCSA ). Equinix ( EQIX ) early Monday announced that it will sell eight European data centers to Digital Realty for $874 million. Regulators required Equinix to divest some assets in approving its acquisition of Telecity. The eight data centers consist of five in London, two in Amsterdam and one in Frankfurt. Shares of Digital Realty, which announced an equity offering to fund the Equinix deal, were up 2.5% early Monday, near 96 and touching an all-time high for the sixth day in the past eight trading days. Digital Realty stock is up 25% this year. Equinix stock was up a fraction early Monday. Charter stock was down nearly 4% in early trading in the stock market today , near 206. California regulators last week approved the Time Warner Cable ( TWC ) deal, the final hurdle to Charter’s makeover. Liberty Broadband ( LBRDA ) will own about 18% of the new Charter, while privately held media firm Advance/Newhouse will own about 13.5%. Scalper1 News
Scalper1 News