Why Is Telephone And Data Systems Stock Surging Today?
Portfolio Pulse from Lekha Gupta
Telephone and Data Systems, Inc. (NYSE:TDS) shares surged after announcing the sale of its subsidiaries OneNeck IT Solutions and OneNeck Data Center Holdings to US Signal Company. The transaction is expected to close in Q3 2024. The sale will provide additional capital for TDS Telecom's fiber program. Investors can gain exposure to TDS via SPDR S&P Telecom ETF (NYSE:XTL) and Invesco S&P SmallCap Utilities & Communication Services ETF (NASDAQ:PSCU).
June 03, 2024 | 4:57 pm
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POSITIVE IMPACT
Invesco S&P SmallCap Utilities & Communication Services ETF (PSCU) may experience positive movement as TDS, one of its components, surged 12.9% following the sale of OneNeck IT Solutions.
PSCU, which includes TDS as one of its components, is likely to benefit from the positive movement in TDS shares following the sale announcement.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
TDS shares surged 12.9% after announcing the sale of its subsidiaries OneNeck IT Solutions and OneNeck Data Center Holdings to US Signal Company. The sale will provide additional capital for TDS Telecom's fiber program.
The sale of OneNeck IT Solutions is a significant move for TDS, providing additional capital for strategic investments in TDS Telecom's fiber program. This positive development has led to a 12.9% surge in TDS shares.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
SPDR S&P Telecom ETF (XTL) may see positive movement as TDS, one of its components, surged 12.9% following the sale of OneNeck IT Solutions.
XTL, which includes TDS as one of its components, is likely to benefit from the positive movement in TDS shares following the sale announcement.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50