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Benzinga
Benzinga
Business
Anusuya Lahiri

Here's Why WideOpenWest Shares Are Trading Higher Today

WideOpenWest WoW NYSE Morgan Stanley Alabama Florida Georgia Michigan South Carolina Tennessee
  • Morgan Stanley’s (NYSE:MS) infrastructure investment arm is amid discussions to acquire broadband and other cable services provider WideOpenWest, Inc (NYSE: WOW), Bloomberg reports.
  • The private equity firm Crestview Partners is its largest shareholder, with a 36% stake. 
  • WideOpenWest, which does business as Wow!, says its network spans states including Georgia, Alabama, Michigan, Florida, Tennessee, and South Carolina. 
  • The stock has gained about 17% since reports circulated that it was exploring a sale.
  • WideOpenWest reported first-quarter FY22 EPS of $0.07, missing the consensus of $0.08. The revenue of $174.60 million, down 4% year-on-year, beating the consensus of $174.26 million.
  • WideOpenWest sees Q2 revenue of $177 million -$180 million versus the consensus of $177.29 million.
  • The FY22 revenue of $708 million - $711 million compared to the consensus of $710.17 million.
  • Price Action: WOW shares traded higher by 10% at $20.34 on the last check Monday.
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