Verizon Communications

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  • Aug. 10, 2011, 1:58 PM
    Viewers are canceling or forgoing cable and satellite TV subscriptions in record numbers, according to an analysis of quarterly earnings reports, but it's not clear how much of the decline is caused by people adjusting to tough economic times or if they're watching cheap internet video. Analysts place the number cutting the cable cord during Q2 at 380K-450K.
    | Aug. 10, 2011, 1:58 PM | 6 Comments
  • Aug. 10, 2011, 9:28 AM

    Embattled Verizon (VZ) faces even more reports of sabotaged equipment in central New York including disruptions to 911 service, landlines and cell services emanating from an ongoing labor dispute. Shares -1.1% premarket.

    | Aug. 10, 2011, 9:28 AM | 3 Comments
  • Aug. 9, 2011, 11:11 AM

    Cablevision (CVC) drops 10% after reporting Q2 results that fell short of expectations. The Street might be particularly bothered by a 27K sequential decline in video subscribers, and a mere 5K gain in broadband subscribers - another indication of strong competition from VZ and T. Time Warner Cable (TWC) also fell after announcing Q2 results. (PR)

    | Aug. 9, 2011, 11:11 AM
  • Aug. 8, 2011, 5:05 PM

    Verizon Communications' (VZ) strike heats up after only its second day. The company says it's repaired over 12 separate acts of sabotage since the strike began, and accuses picketing workers of illegally blocking access to numerous company work centers. Shares closed -5.5%.

    | Aug. 8, 2011, 5:05 PM | 3 Comments
  • Aug. 7, 2011, 8:02 AM
    Verizon Communications (VZ) entire unionized work force of 45K - most of whom are in the declining wireline side of the business - goes on strike after failure to reach agreement over a new labor contract. The company activates a contingency plan aimed at limiting disruptions in service.
    | Aug. 7, 2011, 8:02 AM | 12 Comments
  • Aug. 7, 2011, 5:49 AM

    Verizon (VZ) activates a contingency plan to limit disruption as 45K unionized workers, mainly at its declining wireline unit, go on strike after contract talks stall. The union says the concessions the firm wants over healthcare, pensions and work rules are unjustified given that Verizon is highly profitable.

    | Aug. 7, 2011, 5:49 AM | 3 Comments
  • Aug. 4, 2011, 10:06 AM

    Alcatel-Lucent (ALU) and Ericsson (ERIC) have struggled to cope with soft carrier spending, but they can take comfort in their top-3 positions in the market for gigabit passive optical network (GPON) gear. Infonetics sees healthy growth for European GPON deployments, and previously forecast the North American market picking up thanks to Verizon's (VZ) investments.

    | Aug. 4, 2011, 10:06 AM
  • Aug. 4, 2011, 8:01 AM

    Gartner sees the number of mobile connections worldwide rising to 7.4B in 2015 from 5B in 2010, with mobile data revenue rising 115% along the way. Mobile data has been driving revenue growth for T, VZ and S, but the largest beneficiaries of these trends will likely be carriers in developing markets, such as CHL, CHU, MBT, and AMX.

    | Aug. 4, 2011, 8:01 AM
  • Aug. 2, 2011, 2:32 PM

    Strategy Analytics estimates 13% of U.S. households will subscribe to a "quad play" package of telecom services by 2016. That should benefit T and VZ, who are well-positioned to offer such packages in many areas, and be detrimental to CMCSA, TWC, and CVC, who have struggled to successfully bundle mobile services via partnerships.

    | Aug. 2, 2011, 2:32 PM
  • Aug. 2, 2011, 10:42 AM

    AT&T (T -1.2%) may have reason for concern about lousy earnings from MetroPCS (PCS -32.3%) and Sprint (S -4%), Dave Kansas muses, since its proposed deal with T-Mobile (DTEGY.PK) would look better to regulators if AT&T had more competition. Sprint and others opposed to the deal will have a stronger argument that AT&T/T-Mobile would be too powerful.

    | Aug. 2, 2011, 10:42 AM | 1 Comment
  • Aug. 2, 2011, 8:55 AM

    More on MetroPCS (PCS): Q2 earnings missed the mark as margins declined on higher costs and a sharp slowdown in subscriber growth. New customer growth was the lowest in nearly 2 years as the pre-paid wireless provider tries to remain relevant in a market dominated by Verizon Wireless (VZ, VOD)and AT&T (T). Shares -16.5% premarket.

    | Aug. 2, 2011, 8:55 AM
  • Aug. 1, 2011, 2:56 PM

    Apple (AAPL +1%) shares gain after Piper Jaffray says its survey points to a "significant pent-up demand" for the next iPhone, particularly at Verizon (VZ). A delay in the launch of iPhone5 to October would cut Q3 profit, but iPhone market share "could more than double throughout the next round of phone purchases." Also, Canaccord raises its price target to $515 from $510.

    | Aug. 1, 2011, 2:56 PM | 1 Comment
  • Aug. 1, 2011, 9:19 AM

    The mobile payments space continues to heat up: Verizon (VZ) is partnering with American Express (AXP) to enable quick payments, and white-hot startup Square now expects to process $8M/day in transactions by October. Google (GOOG) and eBay's (EBAY) PayPal unit both have lofty ambitions for the mobile payments market.

    | Aug. 1, 2011, 9:19 AM
  • Jul. 29, 2011, 4:20 PM

    While Vodafone (VOD +4.6%) is seen as the big winner in Verizon Wireless' decision to pay a $10B dividend, Verizon (VZ -1%) proper will benefit as well. With Verizon's wireline division generating little cash as its local phone business steadily declines, it needs its share of the payoff to keep paying its quarterly dividend to shareholders.

    | Jul. 29, 2011, 4:20 PM | 1 Comment
  • Jul. 28, 2011, 5:48 PM

    Verizon Wireless (VZ, VOD) declares a $10B special distribution. Verizon shareholders - a 55% owner in the joint partnership - will receive $5.5B to be paid on January 31, 2012. Vodafone will receive $4.5B, and has declared a £2B special dividend payable to its shareholders as well. VZ +0.8%, VOD +5% AH.

    | Jul. 28, 2011, 5:48 PM | 11 Comments
  • Jul. 28, 2011, 2:35 PM

    The Communications Workers of America, the largest union representing Verizon (VZ) workers, has voted to authorize a strike following the end of their current contract on 8/6 - though history suggests a deal could happen beforehand. Verizon is seeking major concessions regarding health care expenses, pay raises, and its ability to fire workers.

    | Jul. 28, 2011, 2:35 PM
Company Description
Verizon Communications Inc is a provider of communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its two segments are Wireless and Wireline.