T-Mobile, Sprint merger reportedly near, HPE to cut jobs, Finish Line falls

Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.

T-Mobile (TMUS) and Sprint (S) top our list. These stocks are higher in early trading after Reuters reported this morning that the two wireless carriers are close to agreeing on terms to merge. Japan’s SoftBank, which controls Sprint, is expected to hold 40% to 50% while T-Mobile owner Deutsche Telekom would hold the majority stake in the new company. The deal is expected to face regulatory issues over worries that the US wireless market will have too few players.

Hewlett Packard Enterprise (HPE) shares were slightly higher in early trading. Bloomberg reported the company is giving the boot to 5,000 workers by the end of the year. It’s part of its three-year plan to save $1.5 billion in gross costs and move closer to research and development. More layoffs could come later.

Finish Line (FINL) shares fell in early trading after the shoe retailer cut its outlook for 2018 after it reported a profit and sales miss for last quarter. Finish Line also announced today that the CTO of Staples is joining its board of directors.

Tesla (TSLA) is discontinuing its cheapest Model S, the rear-wheel-drive 75. The sedan, which started at just over $70,000, will stop being sold on Tesla’s website Sunday. Dealerships will continue to sell the model until it’s sold out.

Versartis (VSAR), the biopharmaceutical company, shares tanked on Friday. Its growth hormone drug failed a late-stage study. It also wasn’t able to beat out a similar drug from Pfizer (PFE).

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