The telecom sector world-wide has seen enormous disruption as new service providers challenge the former monopolies of land-line-based providers of telecommunications services. In recent notes, we have highlighted the bonds of Verizon Communications Inc. (VZ) and Sprint Corporation (S), which has seen a major investment from SoftBank (SFTBF.PK)(SFTBY.PK) of Japan and a significant drop in default probabilities upon announcement of a new distribution agreement with Costco (COST). In this note, we focus on Telecom Italia S.p.A. (TI.A), which has seen more volatility in its credit quality in recent years than the vast maturity of telecommunications firms. Telecom Italia issues bonds in the U.S. market via Telecom Italia Capital S.A. Bonds issued by Telecom Italia Capital S.A. have a guaranty from parent Telecom Italia. Telecom Italia, through its subsidiary TIM Brasil, also has a controlling interest in Brazilian public telecommunications firm TIM Participacoes S.A. Telecom Italia SPA CL ‘A’ (NYSE:TI.A), shares advanced 1.07% in last trading session and ended the day on $9.42. Telecom Italia SPA CL ‘A’ (NYSE:TI.A), yearly performance is 51.69%.
Shares of NeuStar (NYSE:NSR) were the target of unusually large options trading activity on Thursday. Traders purchased 7,671 put options on the stock, AnalystRatings.Net reports. This is an increase of 594% compared to the average daily volume of 1,105 put options. Neustar Inc (NYSE:NSR), shares moved down 5.78% in last trading session and was closed at $31.28, while trading in range of $ 30.92 – 33.42. Neustar Inc (NYSE:NSR), year to date (YTD) performance is -37.26%.
On March, 25, 2014 Straight Path Spectrum, Inc. a subsidiary of Straight Path Communications Inc. (nyse mkt:STRP), and a holder of a nationwide portfolio of 39 GHz FCC licensed spectrum, and SAF Tehnika JSC (nasdaq omx:SAF1R), a leading designer and manufacturer of point-to-point microwave data transmission equipment, announced a bundled solution that includes SAF’s best-in-class radios with guaranteed spectrum connectivity from Straight Path. Straight Path Communications Inc (NYSEMKT:STRP), weekly performance is -5.06%. On last trading day company shares ended up $6.94. Straight Path Communications Inc (NYSEMKT:STRP), distance from 50-day simple moving average (SMA50) is -12.33%.
On March, 10, 2014 Trunkbow International Holdings Ltd (NASDAQ:TBOW), a leading provider of mobile payment solutions and mobile value added services in the PRC, announced that it has called a special meeting of its stockholders (the “Special Meeting”), to be held on April 14, 2014, at 10:00 a.m. (Beijing time), at the Company’s executive offices, Unit 1217-1218, 12F of Tower B, Gemdale Plaza No. 91 Jianguo Road, Chaoyang District, Beijing, People’s Republic of China, to consider and vote on the proposal to adopt the previously announced Agreement and Plan of Merger (the “Merger Agreement”), dated December 10, 2013, by and among the Company, Trunkbow Merger Group Limited (“Parent”) and Trunkbow International Merger Sub Limited (“Merger Sub”). Trunkbow International Holdings Ltd (NASDAQ:TBOW), shares after opening at $1.43 moved to $1.44 on last trade day and at the end of the day closed at $1.43. Company price to sales ratio in past twelve months was calculated as 1.97 and price to cash ratio as 27.68. Trunkbow International Holdings Ltd (NASDAQ:TBOW), showed a positive weekly performance of 1.42%
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