For Immediate Release
Chicago, IL – August 26, 2016 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include AT&T Inc (NYSE:T). (T), Citigroup Inc (NYSE:C). (C), T-Mobile US (TMUS), Live Nation Entertainment, Inc. ( LYV) and AMC Entertainment Holdings, Inc. (AMC).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Thursday’s Analyst Blog:
AT&T, Citigroup Bury the Hatchet Over “ThankYou”
AT&T Inc. (T) and Citigroup Inc. ( C) have finally decided to settle the legal battle on the usage of the word 'thanks' in relation to their promotional campaigns. Basically, AT&T’s ‘AT&T thanks’ plan to reward customers collided with Citigroup’s 'thankyou' campaign, which the company has been using since 2004. This led to a bitter legal spat between the companies over “trademark” and “monopoly” rights.
'AT&T thanks' Campaign
'AT&T thanks' is a loyalty program launched on Jul 1, 2016, which offers customers buy-one-get-one-free movie tickets, special content for DirecTV subscribers and pre-sale ticket offers from Live Nation. The plan was introduced close on the heels of the launch of the ‘Get Thanked’ program by rival T-Mobile US (TMUS). Additionally, AT&T collaborated with Live Nation Entertainment, Inc. (LYV) for tickets to exclusive concerts before they are made available to the general public. The telecom giant also teamed up with AMC Entertainment Holdings, Inc. ( AMC) and Regal Entertainment Group for the 'Ticket Tuesdays' plan for wireless postpaid customers.
The Clash
Citigroup filed a case against AT&T claiming that the latter’s 'AT&T thanks' campaign is in violation to Citigroup’s trademarked 'thankyou' program. Citigroup says that such similar usage of words would certainly confound consumers leading to irreparable damage to the goodwill, reputation and popularity of its own 'thankyou' branding. In response to this, AT&T filed a return case implying that Citigroup has no monopolistic right over the word “thanks”.
Settlement
The promotional offers – 'AT&T thanks' and 'thankyou' – are similar only in the use of the lower-case letters. As per the Judge’s statement, inspite of the similarity in the names, the campaigns use different words but with the same purpose of thanking and rewarding customers. Hence, no one has the right to own the concept of gratitude. Moreover, the campaigns target different markets and use different logos and colors. Hence, AT&T was allowed by the court to continue to use 'AT&T thanks' for its loyalty program, discarding Citigroup’s appeal.
The negotiation should help restore the business relationship between Citigroup and AT&T since 1998, including 1.7 million U.S. customers with co-branded credit cards. Both the parties have stated that they look forward to continue to work with each other and have also agreed to pay their own attorney’s fees.
Both AT&T and Citigroup currently have a Zacks Rank #3 (Hold).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
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AT&T INC (T): Free Stock Analysis Report
CITIGROUP INC (C): Free Stock Analysis Report
T-MOBILE US INC (TMUS): Free Stock Analysis Report
LIVE NATION ENT (LYV): Free Stock Analysis Report
AMC ENTERTAINMT (AMC): Free Stock Analysis Report
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