Market Focus

AT&T & DirecTV

AT&T and DirecTV may be one step closer to merging. According to new reports, AT&T has come to terms with the federal government on conditions that pave the way for it to buy the satellite TV company. In May AT&T agreed to buy DirecTV for more than $48 billion. AT&T rose slightly to $34.51. DirecTV was up one percent to $85.47.

Ann Inc.

Shareholders of Ann Inc, the parent company of Ann Taylor, are putting pressure on the retailer to explore a sale. Activist investor Engine Capital and hedge fun Red Alder delivered a letter to the board saying the company is deeply undervalued and is urging it to explore strategic alternatives to enhance shareholder value. The stock popped about 6.5 percent to $39.94.

Amazon & Google

Amazon is buying Twitch, a site that lets video gamers live-stream their games in a $970 million deal. The online retailer expects the acquisition to close before the end of the year. This comes after reports that Google had almost sealed a deal to acquire Twitch for a billion dollars.

Blackberry

Blackberry scored another court victory against Type Products which markets a Blackberry-like keyboard that hits on an iPhone. A U.S. court upheld a preliminary injunction that prohibited the sale of that product. Shares edged up slightly to $10.

Life Time Fitness

Shares of Life Time Fitness had a nice run-up in today’s session. The fitness center operator says its considering converting its land holdings into a Real Estate Investment Trust or REIT. Its board also adopted a shareholder rights plan to prohibit ownership of more than 9.8% of its shares. The stock jumped 16 percent to $48.36.

GrubHub

GrubHub is serving up a secondary stock sale. The online food ordering company filed to sell 10 million of its shares in the offering. GrubHub shares tumbled more than eight percent to $39.16.

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