Verizon Communications (VZ) - NYSE
  • Fri, Jul. 1, 3:33 PM
    • The FCC says it will reveal the names of bidders in the forward auction portion of the broadcast incentive spectrum auction, setting the start of the next phase likely in mid-July.
    • There are about 100 parties eligible to bid and they have a payment due by 5 p.m. today, which will validate a final list. A 15-business-day period has to follow public notice of the bidders.
    • The reverse auction concluded this week with the agency needing to raise $88B to cover $86.4B in payments to broadcasters, a sum that could mean changes to the process (including multiple rounds) as the FCC works to scare it up.
    • Spectrum players: VZ, T, TMUS, S, DISH, SBGI, EVC, CMCSA, CHTR, NXST, CBS, MEG
    | Fri, Jul. 1, 3:33 PM | 29 Comments
  • Wed, Jun. 29, 7:45 PM
    • The FCC has set the cost of the spectrum being sold in the broadcast spectrum incentive auction at a whopping $86.4B -- a sum that wireless carriers may balk at.
    • That means that the FCC might have to sell less spectrum than had been expected, or use multiple rounds to settle bidding by broadcasters.
    • The current stage is the reverse auction, where broadcasters bid low to give up their low-band airwaves to the FCC -- and participation has been strong from broadcasters who might have "significantly inflated expectations," says analyst Roger Entner. That's to be followed by a forward auction round of bidding by carriers.
    • A second round of reverse auction with the broadcasters may be needed, which could slow the entire process into 2017.
    • Spectrum players: VZ, T, TMUS, S, DISH, SBGI, EVC, CMCSA, CHTR, NXST, CBS, MEG
    | Wed, Jun. 29, 7:45 PM | 36 Comments
  • Wed, Jun. 29, 12:30 PM
  • Tue, Jun. 28, 9:00 PM
    • In a first, Verizon (NYSE:VZ) is said to be looking to raise a securitization backed by mobile device payment contracts.
    • The company is starting a roadshow to sell the transaction, valued at $1.17B -- reportedly $1B rated at triple-AAA, an $84.5M tier at double-AA and another $84.5M tier at single-AA.
    • It would be the first such bonds sold publicly to U.S. investors; similar deals have happened elsewhere and through private transactions, the Financial Times says.
    | Tue, Jun. 28, 9:00 PM | 19 Comments
  • Mon, Jun. 27, 11:16 AM
    | Mon, Jun. 27, 11:16 AM | 83 Comments
  • Fri, Jun. 17, 4:56 PM
    • Verizon (NYSE:VZ) says the Communications Workers of America and International Brotherhood of Electrical Workers Unions ratified a new labor contract, which will take effect immediately and run through August 2019.
    • The new contract, which covers ~36K employees primarily in VZ's wireline business, confirms the tentative deal reached last month that included 1,400 new jobs and pay raises topping 10%.
    • Employees walked off the job on April 13 after contract talks hit an impasse and returned on June 1 after the tentative deal was reached.
    | Fri, Jun. 17, 4:56 PM | 25 Comments
  • Fri, Jun. 17, 5:07 AM
    • The unions representing nearly 40K Verizon (NYSE:VZ) landline workers are expected to ratify a tentative contract today, finalizing a deal last month that ended a drawn-out labor dispute.
    • The parties are anticipating high turnover in favor of the contract amid better gains as compared to management's previous proposal.
    • Verizon workers went back to work on June 1 following a strike that lasted over seven weeks.
    | Fri, Jun. 17, 5:07 AM | 32 Comments
  • Tue, Jun. 14, 2:21 PM
    • Following second-round bids, AT&T (T +0.3%), Verizon (VZ +0.4%), P-E firm TPG, and a group led by Quicken Loans founder/Cleveland Cavaliers owner Dan Gilbert remain in the running to buy Yahoo's (YHOO +2.2%) core assets, a source tells Fortune's Dan Primack. A joint bid from P-E firms Bain and Vista Equity reportedly didn't make the cut.
    • "Price talk" is said to be in the $4B-$5B range. "I think AT&T is just trying to drive the price up on Verizon," Primack also reports hearing from a source.
    • Bloomberg reported last week AT&T and Gilbert each bid ~$5B for Yahoo's core business, patents, and real estate. Re/code reported Verizon bid ~$3B-$3.5B for just the core business.
    • Yahoo is trading higher, but that's the result of Alibaba (up 3.1%) rallying after providing a strong sales forecast.
    | Tue, Jun. 14, 2:21 PM | 46 Comments
  • Tue, Jun. 14, 10:46 AM
    • 16 months after the FCC voted 3-2 to impose tough net neutrality rules through its Open Internet order, a federal appeals court has upheld the ruling.The lawsuit challenged the FCC's ability to classify Internet providers as common carriers under Title II regulations, as well as to govern wired and wireless services via the same rules.
    • The FCC's rules prohibit the blocking of legal content, the throttling of legal traffic based on content type, and the creation of "fast lanes" for certain types of content. The rules exclude services such as T-Mobile's BingeOn and Verizon's Go90, which don't count against a user's mobile data cap.
    • Shares of major U.S. ISPs haven't moved much (if at all) in response to the ruling.
    • The full ruling (.pdf)
    • U.S. ISPs/carriers: VZ, T, CMCSA, CVC, S, TMUS, WIN, CTL, FTR
    | Tue, Jun. 14, 10:46 AM | 21 Comments
  • Fri, Jun. 10, 4:08 PM
    • Bloomberg reports AT&T (T +0.6%) and a group led by Quicken Loans founder/Cleveland Cavaliers owner Dan Gilbert (backed by Warren Buffett) each submitted a ~$5B second-round bid for Yahoo's (YHOO -1.4%) core business, patents, and real estate.
    • Separately, a day after CNBC reported Verizon (VZ +1.4%) made a ~$3.5B second-round bid, Re/code reports Big Red made an offer valued between $3B and $3.5B, depending on "how employee compensation commitments are treated." However, Verizon's bid excludes Yahoo's patents and real estate.
    • When adjusted for the absence of patents/real estate, Verizon's bid might be competitive with the others. Re/code observes Yahoo respectively values its patents and real estate at $3B and $1B, while adding others assign much lower values to each (~$1B for the patents).
    • Yahoo slipped today amid a 2.1% drop for Alibaba, and a 1.3% drop for the Nasdaq.
    | Fri, Jun. 10, 4:08 PM | 36 Comments
  • Fri, Jun. 10, 12:30 PM
  • Thu, Jun. 9, 9:48 AM
    • CNBC's David Faber reports Yahoo (YHOO +1.1%) as having received multiple bids above $5B for its core business. That would place Verizon (VZ flat) - which is reported to have offered in the area of $3.5B - among the lower end of bidders.
    | Thu, Jun. 9, 9:48 AM | 66 Comments
  • Thu, Jun. 9, 2:29 AM
    • Speaking at a BofA Merrill Lynch conference, Verizon (NYSE:VZ) CFO Fran Shammo said the recently resolved seven-week labor strike is expected to impact the company's Q2 bottom line to the tune of $0.05-$0.07 per share.
    • The costs are coming from overtime paid to management employees, hiring contract workers and a decrease in new business installations.
    • Full-year financial results may also get hit.
    | Thu, Jun. 9, 2:29 AM | 12 Comments
  • Tue, Jun. 7, 2:23 AM
    • According to a new report in the WSJ, Verizon (NYSE:VZ) on Monday planned to submit a second-round offer of about $3B for Yahoo's (NASDAQ:YHOO) core internet business.
    • Private-equity firm TPG was also expected to submit another bid for the assets before yesterday's deadline.
    • Yahoo is projected to hold at least one more cycle of bidding, and the offers could change by the final round.
    | Tue, Jun. 7, 2:23 AM | 43 Comments
  • Thu, Jun. 2, 10:17 PM
    • Adding to the more colorful side of the stories about potential Yahoo (NASDAQ:YHOO) bidders: Twitter (NYSE:TWTR) met with a management team led by Yahoo chief Marissa Mayer weeks ago to discuss a possible merger, the New York Post reports tonight.
    • But though the teams talked for several hours, it looks to have been just an informational tire-kicking, as Twitter reportedly got out of the bidding process afterward.
    • Indeed, Twitter CEO Jack Dorsey didn't show up for the confab, and that company has enough on its plate, a source said: “They’re very scared their shareholders would be outraged ... which is not, quite frankly, an unfounded fear.”
    • Bids are coming in for the second round in Yahoo's auction of core assets, with Verizon (NYSE:VZ) still widely believed to be a front-runner.
    • Previously: SunTrust's Peck: Three pricing scenarios for Yahoo bids (Jun. 01 2016)
    | Thu, Jun. 2, 10:17 PM | 55 Comments
  • Thu, Jun. 2, 11:44 AM
    • Verizon Communications (NYSE:VZ) declares $0.565/share quarterly dividend, in line with previous.
    • Forward yield 4.47%
    • Payable Aug. 1; for shareholders of record July 8; ex-div July 8.
    | Thu, Jun. 2, 11:44 AM | 15 Comments
Company Description
Verizon Communications Inc. operates as a holding company, which provides broadband, wireless and wireline communications services to consumer, business, government and wholesale customers. It operates through Wireless and Wireline segments. The Wireless segment provides communications products... More
Sector: Technology
Industry: Telecom Services - Domestic
Country: United States