Stocks ended down, after trading in a narrow range throughout much of the session Tuesday, as investors took a breather from a three-day rally amid rising oil prices and ongoing turmoil in Libya and the Middle East. Bank of America and GE fell, while Verizon rose.
Sprint Nextel CEO Dan Hesse said Tuesday that he's concerned that AT&T's deal to buy T-Mobile USA would hurt his company and the industry, as the biggest two players strengthen their dominance.
Stocks traded slightly lower, and in a narrow range throughout much of the session Tuesday, as investors took a breather from a three-day rally as oil prices rose amid ongoing turmoil in Libya and the Middle East. GE and Bank of America fell, while Verizon gained.
Just two days after JP Morgan lent AT&T $20 billion to help cement its plan to purchase Deutsche Telekom’s T-Mobile unit, JP Morgan is already scheduling meetings with other banks to discuss syndicating the loan, say people familiar with the matter.
The Strategy Session team discuss the $20B loan from JPMorgan to AT&T, with Peter Boockvar, Miller Tabak managing director.
Stocks turned lower as oil prices gained amid continuing unrest in the Middle East and North Africa. Verizon and Boeing rose, w hile Bank of America fell.
See what's happening, who's talking and what will be making headlines on Tuesday's Squawk on the Street.
Here's what you should be watching Tuesday, March 22.
The bears are bound to soon knock stocks down, Cramer said. How to position yourself now.
Find out why the Fast Money pros just can't get behind Monday's S&P rally.
Investors slammed Sprint on Monday. Is it possible the stock is now oversold?
Wireless stocks landed in the spotlight on Monday after AT& T inked a $39 billion deal to acquire T-Mobile.
By buying T-Mobile, AT&T is creating a new advertising giant, which will send ripples throughout the ad industry. Here's why and what to expect.
Stocks finished up 1.5 percent or higher, sending the Dow back above 12,000, lifted by AT&T's $39 billion planned purchase of Deutsche Telecom's T-Mobile USA and investors who found buying opportunities in stocks they viewed as oversold. Boeing and Alcoa led Dow gainers, while Pfizer fell.
Stocks pared gains in the final hour of trading Monday, but remained significantly higher, buoyed by AT&T's $39 billion planned purchase of Deutsche Telecom's T-Mobile USA and buying opportunities in oversold stocks. Boeing and GE led gainers, while Pfizer fell.
The $20 billion loan JPMorgan Chase is providing to AT&T to finance the $39 billion acquisition of T-Mobile USA has raised a lot of eyebrows on Wall Street.
The deal will open T-Mobile's 34 million customers to Apple's iPhone, the "Mad Money" host said.
The VIX, considered a measure of market fear, rose last week as news about radiation leaks from Japan's damaged nuclear reactors looked increasingly dire. But the stock market has now assumed the worst case will be averted and stocks vaulted higher, sinking the VIX. The VIX was at 20.56 in mid afternoon.
Mad Money host Jim Cramer provides his view on the day's market activity and where things might be headed.
The $20 billion bridge loan JP Morgan provided to AT&T in order to help cement its planned purchase of Deutsche Telekom’s T-Mobile USA unit is the largest commitment the bank has ever made to a client, according to people at the firm.