Realizing you likely haven't missed the ongoings of AT&T Corp.'s (T)  bid to buy Time Warner Inc. (TWX)  , we at TheStreet were hard at work digging up an original take on the blockbuster deal that is currently being challenged by the Justice Department.

While on its face the lawsuit from the DOJ looks like a direct attack on a legacy telecom company, if not a politically driven one on a media sub that has offended the White House, a cancellation of the deal could have implications for future media deals as well as the expansion efforts on non-traditional media companies such as Facebook Inc. (FB)  and Alphabet Inc. (GOOGL)  .

With Facebook, Google, Neflix Inc. (NFLX)  , Amazon.com Inc. (AMZN)  and Apple Inc. (AAPL)  directing more money and energy towards video, Barclays Capital suggests that "given the DOJ's action, it is tough to believe that management teams will actively pursue inorganic growth until the T/TWX lawsuit is resolved." Separately, AT&T may feel the need to increase its discounts and other promotional efforts to "establish its competitive credentials in court," Barclays suggested, making the pay-TV marketplace tougher for now.

From a deal on the rocks to another bubbling to the surface we look at the potential buyout of organic food maker Hain Celestial Group Inc. (HAIN)  .

Though reports say that Nestle SA is interested in Hain, it is also a logical target for a host of other consumer companies, including PepsiCo. Inc. (PEP)  , Campbell Soup Co. (CPB)  , Hormel Foods Corp. (HRL)  , General Mills Inc. (GIS)  , Kraft Heinz Co. (KHC)  and Unilever NV (UN) .

Sure, maybe Pepsi isn't the right fit -- Pepsi CFO Hugh Johnson last month told The Street that the packaged goods company is only interested in making so-called tuck-in acquisitions -- but there is no denying that Hain, the last pure-play organic food company with some scale on the public markets, is an attractive target. Couple that with that fact that activist hedge fund manager Glenn Welling succeeded at installing six directors onto the company's board in September and you have all the ingredients for a sale.

We'll keep the deal theme going today as our technical analyst takes a look at CVS Health Corp. (CVS)  which is reportedly interesting in acquiring health insurer Aetna Inc. (AET)  .

This is an excerpt from "In Case You Missed It," a daily newsletter brought to you by TheStreet. Sign up here.

Photo of the day: A revival at Abercrombie & Fitch

We've made it through another earnings season and Wall Street has identified some clear winners and losers. You've heard about the losers, Campbell Soup and General Electric Co. (GE) , we're watching you, but the winners have gone mostly unnoticed. One of the biggest winners of the third quarter earnings season is Abercrombie & Fitch (ANF) , the 125-year-old, mall-based retailer many had left for dead. Not so fast. Shares of the apparel retailer skyrocketed more than 30% over the last two trading days after delivering a quarter that got many on Wall Street wondering if there is a real turnaround unfolding. TheStreet talked with Abercrombie & Fitch CEO Fran Horowitz about the upcoming holiday season and the outlook for the retailer.

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