Netflix Inc gave a weak forecast on Tuesday that unnerved investors just as Walt Disney Co and others prepare to escalate Hollywood’s streaming video wars, although the company’s quarterly results beat Wall Street targets.
Adam Peaty secures his place on the British World Championships team with victory in the 100m breaststroke at the national championships.
T-Mobile US and Sprint are facing potential rejection of their proposed merger at the US Department of Justice.
DOJ staffers “have told T-Mobile US and Sprint that their planned merger is unlikely to be approved as currently structured,” The Wall Street Journal reported today, citing people familiar with the matter.
“In a meeting earlier this month, Justice Department staff members laid out their concerns with the all-stock deal and questioned the companies’ arguments that the combination would produce important efficiencies for the merged firm,” the Journal wrote.
The Journal says Justice Department antitrust staff, which is reviewing the takeover, questioned the companies’ reasoning for it in a meeting this month. The report cited people familiar with the matter.
Wall Street has grown more skeptical of the merger being completed in recent months. House Democrats grilled the companies in a hearing in February.
The Obama administration rebuffed the companies’ earlier effort to merge, as well as an attempted deal between AT&T and T-Mobile.
Messages to T-Mobile, Sprint and DOJ were not immediately answered.
Sprint shares are down more than 9 percent in after-hours trading. T-Mobile stock is down 5.5 percent.