Happy Hump Day!
GM and Amazon Want to Take on Tesla
But not directly, of course.
The deal, if completed, would value Rivian at between $1 billion and $2 billion. The negotiations are still ongoing, but if successful the deal could be announced as early as this month, reported TheStreet's Jacob Sonenshine.
However, Rivian isn't the only company looking to take on Tesla. Back in August, TheStreet talked to another company--Workhorse--which is also in the process of designing an electric pickup truck.
Want a little extra Jim today? His next Action Alerts Plus investing call kicks off on February 13 at 11:30 ET. Consider this your invitation.
T-Mobile and Sprint's Merger
Executives from T-Mobile (TMUS - Get Report) and Sprint (S - Get Report) will defend their $26.5 billion merger in front of a skeptical Congress Wednesday, arguing that joining their companies won't hurt competition or raise wireless service prices, wrote TheStreet's Joseph Woelfel.
The deal, which must win approval from federal regulators, would combine the nation's third- and fourth-largest wireless companies, creating a new company roughly the size of telecom giants (VZ - Get Report) and AT&T (T - Get Report) .
Shares of the switch king were up a hair near Wednesday's opening bell as Cisco expects to report fiscal second-quarter results after the close. Analysts debating the outlook are expecting earnings per share of $0.72 and revenue of $12.4 billion to be the metrics for any earnings move.
The tepid move comes after a run of 10% in the last month and a rise on Tuesday despite a downgrade from Morgan Stanley, which thinks shares of Cisco may be running a bit too hot.
Ahead of earnings, Cisco is Real Money's Stock of the Day.
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