Boston, MA, 02/24/2014 – Frontier Communications Corp (NASDAQ:FTR) declared Friday that it is opting to terminate the waiting period for the acquisition of AT&T Inc. (NYSE:T)‘s Inc (T) Wireline business early, under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. With this, the communication’s company inches ahead towards the closure of the acquisition, which is subject to the approvals from the Federal Communications Commission and the Connecticut Public Utilities Regulatory Authority. Under the pact, Frontier Communications Corp (NASDAQ:FTR) will gain 900,000 voice connections and 415,000 broadband connections in Connecticut. This will not only enable Frontier with only financial synergies, but will also keep the competitors like Telephone & Data Systems Inc. at Bay. Moreover, the company will also get AT&T Inc. (NYSE:T)’s Connecticut 2,700 employees as per the agreed terms.
Alpha Natural Resources, Inc. (NYSE:ANR), one of the top coal producers in the U.S., declared on Friday that its management team will participate in several investor conferences throughout the week. The conferences where the company will participate in February include the BMO Capital Markets Global Metals & Mining Conference scheduled on Monday, February 24, 2014 and the Simmons & Company International 14th Annual Energy Conference to be held on Thursday, February 27, 2014, where it will not make formal presentations.
MGM Resorts International (NYSE:MGM) gets a boost from analyst at Credit Suisse post its results of the fourth quarter. The analyst has included the company among the top sector pick and revised its price target to $30 now. Another research firm, ISI Group too hiked the price target to $28 for it. Last week, MGM Resorts International (NYSE:MGM) reported financial results for the fourth quarter and full year 2013 with a Q4 EPS loss of ($0.08), improved as compared to its last years’ loss of ($2.50), while revenue grew 9.2% year-over-year to $2.50. But, contrary to Credit Suisse and IGI, Hedgeye took a more cautious outlook, citing visibility beyond the casino operator’s convention-boosted Q1 was limited.