Verizon Communications (VZ) - NYSE
  • 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
  • Mon, May 30, 11:37 AM
    • Nearly 40K striking Verizon (NYSE:VZ) employees will return to work on Wednesday after reaching a tentative contract agreement that includes 1,300 new call center jobs, nearly 11% in raises over four years and the first contract for Verizon Wireless workers.
    • The pact, announced by the Communications Workers of America union, stands to end a six-and-a-half-week work stoppage and one of the longest U.S. strikes in recent years.
    • Previously: Verizon, unions come to terms on new four-year deal (May. 27 2016)
    | Mon, May 30, 11:37 AM | 81 Comments
  • Fri, May 27, 1:36 PM
    • Just in time for a day off, Verizon (NYSE:VZ) wireline strikers may be headed back to work. Shares are headed back up, now +1.1%, as the U.S. Labor Secretary says the company and unions have a deal in principle on a new four-year contract.
    • The workers will "be back on the job next week," says Labor Secretary Thomas Perez in announcing a deal that resolves the open issues in the dispute.
    • "Throughout the past 13 days of negotiations at the Department of Labor, I have observed firsthand the parties’ good faith commitment to narrowing differences and forging an agreement that helps workers and the company," Perez said in his statement.
    • The two sides are reducing the agreement to writing, after which it will be submitted to CWA and IBEW members for ratification.
    | Fri, May 27, 1:36 PM | 55 Comments
  • Thu, May 26, 8:33 PM
    • Verizon (VZ +0.6%) is getting a leg up on competing bidders for the core assets of Yahoo (YHOO +3.3%) -- by hiring an investment bank who was one of Yahoo's top advisers last year, Reuters reports.
    • The telecom has reportedly added Bank of America to its team -- which would offer not only intimate knowledge of Yahoo, but also a big balance sheet in case of financing help. Yahoo's other investment banks (Guggenheim, LionTree, Allen & Co.) are boutiques with limited ability to fund the deal.
    • BofA was lead adviser last year when Yahoo explored spinning off its stake in Alibaba, a plan it later abandoned.
    • While Verizon's prepared to buy all the core assets, sources said, it's mainly (and unsurprisingly) interested in the ad-tech tools, and perhaps things that can be combined with corresponding businesses at AOL.
    | Thu, May 26, 8:33 PM | 21 Comments
  • Wed, May 25, 11:12 AM
    • In a surprise revelation, AT&T (NYSE:T) made a bid for Yahoo (YHOO -2.1%) and is still in the running for the core Internet business, Bloomberg reports.
    • They were out of the offing according to earlier reports. But they kept involved in the process through a stake in YP Holdings -- which was involved in the early round in April -- and while YP isn't pursuing the transaction any longer, AT&T is still around.
    • The interest from the telecom giant would present a formidable challenge for presumed frontrunner Verizon (NYSE:VZ). But Verizon didn't submit one of the highest first-round bids, a pair of the sources said.
    • The process has another week or likely more time to play out.
    | Wed, May 25, 11:12 AM | 65 Comments
  • Wed, May 25, 2:27 AM
    • The ongoing strike by Verizon's (NYSE:VZ) 40K union employees could pressure second-quarter results, Chief Executive Lowell McAdam warned at a technology conference in Boston.
    • A key part of the negotiations is work rules. The company wants more flexibility to relocate workers and redirect call center traffic, while the unions are pushing for job security provisions.
    • Verizon is expected to report Q2 results on July 26.
    | Wed, May 25, 2:27 AM | 69 Comments
  • Tue, May 24, 7:06 PM
    • Verizon (VZ +0.9%) chief Lowell McAdam did his part to lower expectations for the company's Go90 mobile video service today, saying “I think maybe it did get a little over-hyped, and I’m sure we contributed to that to a certain extent."
    • But “We have seen enough success to make us excited about continuing to work it. We’re on pace,” he said at a conference. The company hasn't said how many subscribers it's garnered for the youth-focused service.
    • Earlier this spring, UBS looked at app store downloads (Go90 around No. 300 in iTunes apps and No. 20 ranked against entertainment apps) to guess that the service was off to a slow start.
    | Tue, May 24, 7:06 PM | 6 Comments
  • Fri, May 20, 3:00 PM
    • Verizon (NYSE:VZ) says it's well set up to handle its wireline customers, amid a strike by nearly 40,000 workers that's now in its sixth week -- but Wells Fargo sees struggles ahead, lowering estimates on the telecom.
    • The firm is cutting its forecast for wireline revenues by $343M in Q2, and by a whopping $826M for 2016, along with lowering margin estimates on the wireline operations.
    • Strikers are almost all wireline workers, and the wireless workers aren't unionized, but "the strike has become a distraction to its wireless operations," says analyst Jennifer Fritzsche. "VZ has been less promotional with its wireless offerings in Q2, and recent checks have shown some unfavorable (customer-switching) trends."
    • The two sides are talking again, with federal help, but “management recently indicated that install and order activity for FiOS has ‘significantly dropped’ as employees have been primarily focused on repair and maintenance."
    • Since the strike began April 13, shares are down 4.5%.
    • Now read Verizon Dividends Help Protect A Portfolio During Market Inflection Point »
    | Fri, May 20, 3:00 PM | 93 Comments
  • Fri, May 20, 9:57 AM
    • Yahoo (NASDAQ:YHOO) is down 2.4% (better than the 6% decline it was tracking premarket) after last night's report that bids for the Internet pioneer's core business are coming in lighter than expected, at $2B-$3B.
    • CNBC's David Faber says sources are calling that report "completely wrong," noting that such a bid would be lower than the lowest of the bids seen in the first round of bidding. "Nobody has seen numbers of that type" in what has been a "fairly robust auction" at this point, Faber says.
    • "Could it be perhaps that Verizon (NYSE:VZ) would love to have it out there, the idea that it's coming in lower so that it conceivably could game the situation?" Faber asks. "I don't know."
    • The core business has more than $600M in EBITDA, including the losing parts, which would make for a very low multiple at $2B-$3B, he notes.
    • Now read Yahoo's Sale Could Still Derail »
    | Fri, May 20, 9:57 AM | 33 Comments
  • Thu, May 19, 11:14 PM
    • With just a couple of weeks before the next round of bids is due for the core assets of Yahoo (NASDAQ:YHOO), offers are expected in the range of $2B-$3B, The Wall Street Journal reports -- lower than a $4B-$8B range that had become conventional wisdom over the past couple of months.
    • Verizon (NYSE:VZ) is still considered a front-runner, and it and private-equity rivals are expected to start in the low end of that range, sources told the WSJ.
    • Still unclear, though, is exactly which assets those bids would cover. Bids might vary considerably from each other in structure.
    • Access to a Yahoo "data room" by bidders -- and the more detailed look at Yahoo's struggles that provides -- may be dampening hopes that Yahoo had for higher bids (at one point, for $10B for the core Internet business).
    • Now read Revisiting My Yahoo Investment: A Declining Search Business »
    | Thu, May 19, 11:14 PM | 40 Comments
  • Wed, May 18, 2:30 AM
    • While Verizon (NYSE:VZ) and representatives from two striking unions continue their contract discussions this week with help from the Department of Labor, the groups will not make any public statements, nor will there be comments from federal officials.
    • "I'm encouraged by the parties' continued commitment to remain at the bargaining table," Labor Secretary Thomas Perez said. "We will continue to facilitate conversations to help the unions and the company reach an agreement."
    • Previously: Verizon, unions to return to the bargaining table (May. 16 2016)
    | Wed, May 18, 2:30 AM | 35 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