Verizon Wireless got clearance from the United States Justice Department to acquire unused airwaves from Comcast Corporation (NASDAQ:CMCSA) and other cable companies with provisions that limit the corporations deals to sell each other’s services.
The verdict by antitrust supervisory body leaves final support of the $3.6 billion agreement between the major United States cable and wireless corporations to regulators at the Federal Communications Commission. Chairman of the agency’s recommended approval on Thursday.
Joseph Wayland, the acting chief of the department’s antitrust division, reported in a statement on Thursday that the department has offered the right remedy for rivalry and consumers, by limiting the commercial deals and letting Verizon and T-Mobile USA Inc purchase additional airwaves.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Time Warner Cable Inc (NYSE:TWC) fell -0.25% to settle at $89.55, News Corp (NASDAQ:NWSA) moved up +0.47% to end at $23.51 while CBS Corporation (NYSE:CBS) decreased -0.08% to finish on Thursday at $36.04.
Comcast Corporation (NASDAQ:CMCSA) last session volume of 10.19 million shares was lower than its average volume of 13.63 million shares. The stock after opening at $34.35 hit high price of $34.39 and then closed at $34.14 by scoring -0.15%.
CMCSA generated revenue of 59.47 billion in the following twelve months and earned $4.77 billion. The Company showed a positive 9.80% in the net profit margin and as well as in its operating margin which remained 19.13%. Company’s annual sales growth for the past five year was 17.47%.
The CMCSA past twelve months price to sales ratio was 1.54 and price to cash ratio remained 21.09. As far as the returns are concern, the CMCSA return on equity was recorded as 10.10% and increased 4.64% return on investment while its return on asset stayed at 3.73%.
The stock showed weekly downbeat performance of -1.19% which was maintained for the month at +5.40%. Likewise the positive performance for the quarter was recorded as +21.06% and for the year was +63.43% while the YTD performance remained at +45.52%.
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