27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
President Donald Trump on Monday praised an activist investor’s move to take a stake in AT&T Inc. (NYSE:T) and used the fund’s criticism of its acquisitions strategy to reiterate his own animosity toward news network CNN, which is owned by AT&T’s WarnerMedia, formerly Time Warner.
Elliott Management Corp. announced a $3.2 billion stake in AT&T, and issued a letter criticizing the company and outlining changes it would like to see made at the communications conglomerate, while questioning its acquisitions, including that of Time Warner.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Trump tweeted it was “great news” that an activist investor was now involved with the parent company of “VERY LOW RATINGS” CNN.
The Elliott Management letter made no mention of CNN specifically, and called Time Warner a “spectacular company, representing a collection of some of the world’s premier media assets, (that) remains a strong and valuable franchise today.”
But the hedge fund said it's cautious on the benefits of the combination, saying AT&T is “yet to articulate a clear strategic rationale” for why it needs to own the Warner property.
Great news that an activist investor is now involved with AT&T. As the owner of VERY LOW RATINGS @CNN, perhaps they will now put a stop to all of the Fake News emanating from its non-credible “anchors.” Also, I hear that, because of its bad ratings, it is losing a fortune.....
— Donald J. Trump (@realDonaldTrump) September 9, 2019
AT&T said its management and board would review Elliott management’s perspective and looked forward to working with the firm, but defended its “unique portfolio of valuable businesses” across communications, media and entertainment.
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
“We believe growing and investing in these businesses is the best path forward for our company and our shareholders,” the AT&T statement said.
Trump’s criticism of CNN is the latest in a years-long feud with the network, which he often calls “fake news.”
...But most importantly, @CNN is bad for the USA. Their International Division spews bad information & Fake News all over the globe. This is why foreign leaders are always asking me, “Why does the Media hate the U.S. sooo much?” It is a fraudulent shame, & all comes from the top!
— Donald J. Trump (@realDonaldTrump) September 9, 2019
Elliott Management questioned AT&T’s overall M&A strategy and said it should consider divesting non-core assets, though with no specific mention of the cable news channel.
AT&T's stock traded higher by 4.7% to $37.98 per share at time of publication.
Related Links:
Trump On CNN: 'Why Doesn't AT&T Do Something?'
BofA Bullish On AT&T: 'The Network Has Never Performed Better'
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.