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T-Mobile Beats Expectations

T-Mobile US Inc (NASDAQ:TMUS)’s stock opened higher but is currently 2.40% in red after the company announced better-than-expected first quarter results. The mobile carrier reported EPS of $0.56, beating the estimates of $0.10. Total revenue for the first quarter was $8.6 billion, better than the Street’s expectation of $8.43 billion. The company’s results were driven by a growth in net customer additions, which amounted to 2.20 million in the quarter.  T-Mobile also increased its full-year guidance for branded postpaid net adds to the range of 3.2 million to 3.6 million from the previous range of 2.4 million to 3.4 million, and increased adjusted EBITDA target to between $9.7 billion and $10.2 billion, versus the previous range of $9.1 billion to $9.7 billion.

Overall, 50 hedge funds out of those tracked by us held stakes in T-Mobile US Inc (NASDAQ:TMUS) at the end of the fourth quarter 2015 with a total value of approximately $2.4 billion. John Paulson’s Paulson & Co owns more than 19.7 million shares of the company.

Alibaba-Disney Deal Killed by Chinese Regulators

Alibaba Group Holding Ltd (NYSE:BABA) has taken down DisneyLife video service in China after pressure from regulators in China, according to The Wall Street Journal. Back in December, Walt Disney Co (NYSE:DIS) and Alibaba signed a multiyear licensing agreement under which the famous Disney characters were to be brought on screens in China through a video subscription service. According to Alibaba, DisneyLife service is down for maintenance. However, the company has started refunding the fee to the subscribers.

In other news, Ant Financial Services Group, which operates Alipay and was spun-off from Alibaba Group Holding Ltd (NYSE:BABA), raised $4.5 billion in funding. Ant Financial’s total worth is $60 billion, more than that of its rival PayPal’s $48 billion.

Out of the total hedge funds tracked by us, 77 funds held positions in Alibaba Group Holding Ltd (NYSE:BABA) at the end of last year with the total value of approximately $6.7 billion. Ken Fisher’s Fisher Asset Management is one of the biggest stakeholders in Alibaba Group Holding Ltd (NYSE:BABA) with a total ownership of more than 3.0 million shares, held as of March 31.

Disclosure: None