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Sept. 18, 2019, 12:18 p.m. EDT

Altice USA's stock jumps toward 2-year high after CEO says he's 'absolutely open' to talks to be bought out

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By Tomi Kilgore

Shares Altice USA Inc. /zigman2/quotes/207426329/composite ATUS -0.80% rose 1.2% toward a 2-year high in midday trading Wednesday, after the cable, internet and phone services company's chief executive said he was " absolutely open" to discuss a potential acquisition of the company. At the Goldman Sachs Communacopia Conference, CEO Dexter Goei was asked if his merger and acquisition strategy was for Altice being the acquirer or to combine with a larger company: "I think we're open to creating a lot of shareholder value, right," Goei said, according to a FactSet transcript. "So if somebody comes and wants to have a discussion about buying us, we're absolutely open to having that discussion." The stock, on track for the highest close since Sept. 6, 2017, has soared 80.6% year to date, while SPDR Communication Services Select Sector ETF /zigman2/quotes/204079482/composite XLC -0.74% has rallied 23.3% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.98% has advanced 19.6%.

/zigman2/quotes/207426329/composite
US : U.S.: NYSE
$ 37.30
-0.30 -0.80%
Volume: 139,389
May 11, 2021 9:55a
P/E Ratio
27.27
Dividend Yield
N/A
Market Cap
$17.29 billion
Rev. per Employee
$1.11M
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/zigman2/quotes/204079482/composite
US : U.S.: NYSE Arca
$ 76.22
-0.56 -0.74%
Volume: 458,904
May 11, 2021 9:55a
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/zigman2/quotes/210599714/realtime
US : S&P US
4,147.53
-40.90 -0.98%
Volume: 387.98M
May 11, 2021 9:55a
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