Deutsche Telekom told investors Tuesday it was working on a long-term plan for the wireless unit, though it offered no details on how it plans to move on from the deal's fallout. The company has secured a $6 billion break-up package, including about $3 billion in cash. AT&T will also give T-Mobile a package of wireless frequencies in 128 markets, as well as a seven-year roaming deal that will increase T-Mobile's potential customer coverage.
Deutsche Telekom had planned to turn its focus to growth in Europe amid the ongoing debt crisis after unloading T-Mobile. Now some speculate that Sprint Nextel (S), which reportedly previously had been interested in a deal with T-Mobile, could still be a potential buyer.
Lockheed Martin (LMT) is trending as the company beat out competitors for a contract with Japan for F-35 Joint Strike Fighter jets. Japan will buy 42 of the aircraft, valued at over $7 billion. The country had also considered the Boeing (BA) F-18 or the Eurofighter Typhoon for its next-generation fighter jets but is said to have been attracted to the F-35's stealth capabilities.
AstraZeneca (AZN) is another popular topic. The drugmaker will take a $381.5 million pretax charge in the fourth quarter after two of the drugs in its pipeline performed poorly in late-stage clinical trials. AstraZeneca said its cancer drug olaparib will not progress into final Phase III testing, while antidepressant TC-5214 failed to reach its goal for its second Phase III study. Despite the charges, the company maintains it still expects to meet its expectations for 2011, with earnings per share now at the low end of its forecast.
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