Time Warner Inc (NYSE: TWX)
Time Warner didn’t look like it was going to have a very strong day in the market today. In fact, at the opening bell, the stock was trading well into the red. Throughout the beginning of the trading session, we saw a continuation of declines, bringing the stock further and further into the abyss. However, minutes ago, the stock started to spike in a big way. Below, we’ll talk about what we’re seeing from TWX, why, and what we’ll be watching for ahead.
What We’re Seeing From TWX
As mentioned above, the beginning of today’s trading session didn’t make it seem as though Time Warner was going to have the best of days in the market today. In fact, when the session started, the stock was already trading on losses. Throughout most of the morning, we saw a continuation of declines, bringing the stock further and further downward. Nonetheless, minutes ago, the stock started to spike in a big way. At the moment (11:09), TWX is trading at $97.65 per share after a gain of $0.37 per share or 0.38% thus far today.
Why The Stock Is Running For The Top
As is nearly always the case, our partners at Trade Ideas were the first to alert us of the gains on TWX. As soon as we received the alert, the CNA Finance team went to work to see exactly why the stock was spiking upward. In this particular case, it seemed like it took no time at all to find the story. Ultimately, the gains are the result of excitement surrounding the FCC.
Recently, it was announced that AT&T and Time Warner would merge. However, there have been concerns that the FCC would block the merger. Nonetheless, minutes ago, the Chairman of the FCC said that the FCC has no role in the merger since no airwave licenses are being transferred. As a result, investors are excited about the coming merger, sending the stock skyward.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on TWX. In particular, we’ll be following the company through its merger with AT&T watching for any further roadblocks the merger may face. Nonetheless, we’ll be keeping a close eye on the story and bringing you the updates as they break!
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