Let's have a look at what is happening on the US markets one hour before the close of the markets on Friday. Below you can find the top S&P500 gainers and losers in today's session.
The company also unveiled a new Public Responsibility Committee and appointed former Vanguard chief executive F. William McNabb as lead independent director.
Warren Buffett grabbed headlines with his UNH buy in Q2. But, there was plenty of intrigue to go around, with Buffett making these other key buys and sells.
U.S. Cellular’s second quarter results were greeted positively by the market as the company delivered revenue and profit ahead of Wall Street’s expectations, despite a modest year-on-year sales decline. Leadership attributed the outperformance to disciplined execution during a period of significant transformation, with CEO Walter Carlson highlighting the successful close of the T-Mobile transaction and the resulting shift toward a focused fiber and tower infrastructure strategy. CFO Vicki Villacrez emphasized ongoing capital allocation efforts to strengthen the company’s financial position and fund growth initiatives in core operating segments.
Telephone and Data Systems’ second quarter was marked by significant portfolio transformation, with the closing of its UScellular wireless business sale to T-Mobile serving as a key milestone. Management attributed the quarter’s performance to the focus on winding down wireless operations, ongoing investments in fiber expansion, and one-time divestiture activity. Executive Vice President and CFO Vicki Villacrez highlighted the company’s progress in strengthening its capital structure, noting, “These actions will result in approximately $80 million in annual interest savings and will reduce our total TDS average cost of debt to just over 6%.”
Cogent’s second quarter was marked by a significant negative market reaction, as the company’s revenue results missed Wall Street expectations while reporting a year-over-year sales decline. Management attributed the underperformance primarily to the ongoing process of exiting low-margin, off-net contracts acquired from Sprint, which continued to weigh on the top line. CEO Dave Schaeffer described the current period as a transition, noting that “revenue growth that we are experiencing is almost exclusively on-net services,” and highlighted progress in expanding high-margin offerings like Wavelength and IPv4 leasing. The company’s focus on improving sales force productivity and cost control also contributed to sequential improvements in operating margin.
Altice’s second quarter results were met with a significant negative market reaction, as the company’s GAAP loss per share and adjusted EBITDA came in well below Wall Street expectations. Management attributed the underperformance to ongoing revenue declines, driven largely by video subscriber losses and persistent competition, especially from fiber overbuilders and fixed wireless alternatives. CEO Dennis Mathew acknowledged, “macroeconomic pressures, low move activity and increased competition from fiber and fixed wireless continue to weigh on gross additions.” The company also cited higher operating costs, including investments in technology and transformation initiatives, as contributors to weaker profitability.
