NEW YORK (TheStreet) -- Shares of Comcast (CMCSA) - Get Comcast Corporation Class A Report are up 1.07% to $62.50 late Monday afternoon as company Chairman and CEO Brian Roberts announced plans to compete directly with the four major wireless providers AT&T (T), Verizon (VZ), T-Mobile (PCS) and Sprint (S), CNBC reports.
Comcast has many considerable options to allow it to compete in mobile, due in large part to a 2012 spectrum deal with Verizon. The deal allows the largest U.S. cable provider to resell mobile service on Verizon's network, Roberts said today on CNBC's "Squawk on the Street."
Analysts predict Comcast will operate its wireless network on already existing Wi-Fi hot spots rather than purchasing additional spectrum, but Roberts did not directly comment on those plans, according to CNBC.
"What I would report to you is I think we have more hot spots than any company with Xfinity Wi-Fi, and we've found it to be a fantastic way to get your content. It works better on Wi-Fi," Roberts tells CNBC.
Roberts also announced on Monday morning that NBC will live stream more than 6,000 hours of competition from the Summer Olympics in Rio de Janeiro, Reuters reports.
Philadelphia-based Comcast is a media and technology company, mainly focused in its primary businesses Comcast Cable and NBCUniversal.
Separately, TheStreet Ratings rated Comcast as a "buy" with a score of A+.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon.
Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that are rated.
The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, increase in net income and reasonable valuation levels. TheStreet Ratings feels its strengths outweigh the fact that the company shows low profit margins.
You can view the full analysis from the report here: CMCSA