Time Warner Cable Dips on Downgrade and Lawsuit, T-Mobile Falls on Spectrum Competition -- Telecom Winners & Losers

NEW YORK (TheStreet) -- Time Warner Cable (TWC) dropped after an analyst lowered the recommendation on the stock and the company was hit with a net neutrality lawsuit. T-Mobile U.S. (TMUS) stumbled as it presses the Federal Communications Commission to prevent AT&T (T) from snapping up more low-band spectrum.

Time Warner Cable fell 0.8% to close at $177.03.

The cable company took a hit after Scotia Capital downgraded it to sector perform from sector outperform, according to a report in Briefing.com

In addition to the downgrade, Time Warner Cable also got slapped with a net neutrality lawsuit by Commercial Network Services, a streaming media provider, according to a report in Engadget. The virtual server company alleged Time Warner Cable only provided access to congested broadband pipes and was asking for payment to put Commercial Network's content through low-latency connections, according to Engadget.


T-Mobile stumbled 0.5% to end the day at $39.03.

The telecom carrier dipped as it tries to push the Federal Communications Commission to take action against AT&T and Verizon Communications (VZ) by prohibiting the two telecom behemoths from acquiring low-band spectrum from East Kentucky Network, according to a Zacks report

T-Mobile is trying to sway the FCC to see things its way but arguing such an acquisition by AT&T and Verizon would not be in the public's interest, according to Zacks.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.

If you liked this article you might like

Discovery and Scripps Surge In Premarket Trading Amid Renewed Deal Talk

Netflix's Biggest Bear Warns the Company Is 'Hemorrhaging Cash' and Stock Could Crash 55%

Twitter Beats First-Quarter Earnings Estimate, Sees Active User Growth Increase

Avoid These 4 'Over-Owned' Stocks

AT&T and Time Warner Executives Head to Capital to Tout Merger