What to Watch Thursday: Barclays, Sprint and T-Mobile, Coronavirus

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An uptick in coronavirus cases has the market implying an open in the red.

Meanwhile, the American CEO of Barclays is under investigation for his ties to Jeffrey Epstein and Sprint and T-Mobile are reportedly looking to renegotiate its merger.

The Coronavirus

15,000 new cases of the coronavirus were announced Wednesday, which brings the total to 59,000.

This could, however, be due to the change of the diagnosis method, since the spike in cases came after officials started to use a new technology to diagnose cases. But, either way, it raises the question about the scale of the epidemic in China.

Another 242 deaths were announced Wednesday.

Barclays 

Barclays American CEO Jes Staley is under investigation by British regulators for his links to Jeffrey Epstein.

"The relationship between Mr. Staley and Mr. Epstein was the subject of an inquiry from the Financial Conduct Authority to which the Company responded," Barclays said in a statement.

Barclays did note that Staley had a professional relationship with Epstein, but noted that the relationship was earlier in Staley’s career.

Epstein died in a New York jail last year awaiting trial on sex trafficking charges.

Staley has been CEO of Barclays since December of 2015. According to the bank, Staley and Epstein have had no contact since he became CEO.

T-Mobile and Sprint

And, finally, T-Mobile’s (TMUS) - Get Report parent company is reportedly looking to reconsider the acquisition of Sprint.

The merger finally got the okay from a federal judge Tuesday.

However, since the deal was announced two years ago, Sprint’s shares have fallen.

Bloomberg reported that the renegotiation talks are set to start soon.

There are no specific renegotiation terms as of yet.

Sprint (S) - Get Report was down nearly 3% in premarket trading. The company is up over 39% in the past year.

T-Mobile was down slightly. The stock is up nearly 36% in the past year. 

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