U.S. Market Wrap

Elliott Opposes Deutsche Telekom–T-Mobile Merger — What the $300B Deal's Likely End Means for TMUS

Elliott Management built a Deutsche Telekom stake, opposing the $300B T-Mobile merger plan. TMUS rose 2.8% on September 2 as the deal looks increasingly unlikely to proceed.

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Lam Research (LRCX) FY2026: Revenue +26% to $23.2B; FCF -10%
Lam Research finished fiscal 2026 with cycle-high margins and the weakest cash conversion in years — and both facts come from the same source. Revenue rose 26.0% to $23.23 billion and gross margin reached 50.5% GAAP; free cash flow fell 9.7% to $4.89 billion as a $1.96 billion receivables build and a reversal in deferred profit hit cash conversion simultaneously.

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← Wednesday, September 2, 2026 All coverage →

Elliott Opposes Deutsche Telekom–T-Mobile Merger — What the $300B Deal's Likely End Means for TMUS

Lam Research (LRCX) FY2026: Revenue +26% to $23.2B; FCF -10%

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