Verizon Communications (VZ) - NYSE
  • Tue, Feb. 23, 5:13 PM
    • Breach of contract litigation filed by ESPN (DIS -1%) last year against Verizon (VZ -0.9%) is on hold as the two companies try to work it out.
    • A stay has been issued before a preliminary conference set for Friday, delaying it until at least March 28.
    • ESPN filed suit last April after Verizon rolled out a new "skinny" FiOS plan that allowed customers to pick a small set of channels including some broadcast and basic cable, but left ESPN to a different, separately purchased tier.
    • In the meantime, Verizon introduced a new "Custom TV" service last week that allow for customers to get a service with ESPN and other sports channels or one without those.
    | Tue, Feb. 23, 5:13 PM | 10 Comments
  • Tue, Feb. 23, 3:24 PM
    • With a veritable parade under way toward 5G wireless testing, T-Mobile (TMUS +1.1%) says it's going to conduct field trials of the next-gen technology in the second half of 2016 with partners Ericsson and Nokia.
    • "T-Mobile and Nokia are using pre-selected spectrum in the 28 GHz band to trial and test 5G components and accompanying use cases that support massive bandwidth capacity and virtual zero latency," the companies said.
    • "Building on investments we've made to deliver America's fastest 4G LTE, this puts us on the path to real 5G use cases once 5G consumer smartphones are available in the 2020+ timeframe," said Neville Ray, who had said during the company's earnings call: "I think folks have seen some of the early announcements and Verizon trying to move and say that they're going to be the first to 5G, well, it's kind of BS to be honest. We're there in the race. We'll make sure that there's nothing in the 5G space that we don't deliver to our customers on or before our competition does."
    • Yesterday, AT&T (T -0.5%) boasted that DirecTV would give it the advantage over Verizon (VZ -0.8%) in the race to 5G, to which a Verizon spokesman replied: "AT&T has followed us in every turn of technology -- wireless and wired -- and they will again with 5G."
    • Previously: AT&T: DirecTV gives us 5G advantage over Verizon (Feb. 22 2016)
    • Previously: FCC filing: AT&T preps 5G testing in Austin (Feb. 04 2016)
    | Tue, Feb. 23, 3:24 PM | 8 Comments
  • Mon, Feb. 22, 3:17 PM
    • In the race to 5G wireless, AT&T (T +0.5%) says it's got an unmatched advantage over rival Verizon (VZ +0.1%) after its acquisition of a large distribution network in the DirecTV deal.
    • At Mobile World Congress in Barcelona, Chief Strategy Officer John Donovan said the technology -- which promises download speeds of up to 10 Gbps on a network handling billions of devices -- will need a solid fixed line backbone. "We are in a better position because we have a fixed line proposition which is becoming much more interesting now with 5G."
    • Both AT&T and Verizon have pledged trials of the technology this year. For its part, a Verizon spokesman says "AT&T has followed us in every turn of technology -- wireless and wired -- and they will again with 5G."
    • Meanwhile, Verizon has said it demonstrated its 5G field trials for FCC officials including Chairman Tom Wheeler (and CEO Lowell McAdam took the opportunity to urge the FCC to act quickly on making bands above 24 GHz available for mobile broadband). With providers of all kinds entering the market for business broadband, there's no reason to single out some companies for special regulation, McAdam added.
    • AT&T's Donovan added that the company would continue to be "very vocal" in opposition to FCC initiatives to open competition in the $20B television set-top box market.
    • Previously: FCC filing: AT&T preps 5G testing in Austin (Feb. 04 2016)
    • Previously: FCC votes to open set-top box market (Feb. 18 2016)
    • Previously: SK Telecom, Ericsson teaming to pilot 5G networking (Feb. 11 2016)
    | Mon, Feb. 22, 3:17 PM | 18 Comments
  • Mon, Feb. 22, 9:13 AM
    • Verizon (NYSE:VZ) is buying XO Communications' fiber-optic networking business for $1.8B, a move that will extend the company's fiber-based network as well as help densify the carrier's cell network.
    • It's also leasing XO's wireless spectrum with an option to buy. It can purchase the entity that holds XO's spectrum by the end of 2018.
    • The deal is expected to close in the first half of next year and Verizon says it sees net present value of operational synergies to exceed $1.5B.
    | Mon, Feb. 22, 9:13 AM | 5 Comments
  • Fri, Feb. 19, 9:01 PM
    • In a lunch with UBS analyst John Hodulik discussing video and the ad market, AOL chief Tim Armstrong gave some color to some previously discussed interest that AOL parent Verizon (NYSE:VZ) might have in Yahoo (NASDAQ:YHOO): Certain assets could bring a strong price, but "you don't want to catch a falling knife."
    • Verizon chief Lowell McAdam has acknowledged that Verizon might be interested in Yahoo, and Armstrong says it could happen -- at the right price.
    • Along with Yahoo's hiring an independent committee today to explore its options, AP reports the company has hired three investment banks -- Goldman Sachs, J.P. Morgan and PJT Partners -- in what may be a clearer signal that some kind of transaction is imminent.
    • “They’d have to start a process, share all the data regarding audience, distribution, monetization and talent,” Armstrong told Hodulik. “Everything at this point is theoretical. Assets with rapidly a growing number of users are very expensive. Even those with a stable number of users are expensive."
    • Yahoo shares finished the day up 2.1%; they're down 9.7% YTD.
    | Fri, Feb. 19, 9:01 PM | 31 Comments
  • Thu, Feb. 18, 11:49 AM
    • In a party-line vote, the FCC has voted to proceed on new regulations that will allow for open competition in pay TV set-top boxes.
    • Agency Chairman Tom Wheeler had railed against a market where he says Americans spend $20B on leasing devices from their TV providers, paying rental fees that have jumped 185% since 1994 despite the fact that other consumer electronics have declined 90% in price in the same time frame.
    • The FCC's move could throw open the doors to a new generation of boxes from the likes of Apple and Alphabet as well as TiVo, among others.
    • “This issue is not complex,” Wheeler says, noting that the 1996 Telecommunications Act “explicitly instructed us to assure that there are competitive information devices, be it a box or an app.”
    • Voting on Wheeler's proposal is the start of a process. If a final order goes forward, MVPDs would have to provide information to third parties who could make devices that conformed to a specification to provide service.
    • Pay TV players: CMCSA, TWC, CHTR, CVC/OTCPK:ATCEY, T, DISH, VZ, FTR, CTL
    • Previously: Reports: FCC planning for open competition in set-top boxes (Jan. 27 2016)
    | Thu, Feb. 18, 11:49 AM | 74 Comments
  • Fri, Feb. 12, 2:51 PM
    • Verizon (VZ +1.3%) is shuttering two cloud services it offers to the public, consolidating more customers in its other offerings.
    • The carrier is closing Verizon Public Cloud Reserved Performance and Marketplace. Verizon Cloud Storage users won't be affected.
    • It's encouraging bumped users to move to a similar offering, its Virtual Private Cloud, before April 12 or data will be "irrecoverably deleted."
    | Fri, Feb. 12, 2:51 PM | 7 Comments
  • Mon, Feb. 8, 3:29 PM
    • AOL chief Tim Armstrong is the point person as Verizon (VZ -0.7%) explores a bid for assets at Yahoo (YHOO -4.3%), Bloomberg reports.
    • Discussions aren't far along and Verizon hasn't hired any bankers, but Armstrong is the one leading preliminary discussions, sources said.
    • Another source said Armstrong was picking up on conversations he had with Yahoo CEO Marissa Mayer at the Sun Valley media conference in 2014 -- before AOL was bought by Verizon, but while he was exploring the idea of combining AOL and Yahoo. The two are both former Google executives.
    • Armstrong has had a fairly free hand to run AOL as an independent advertising/media business at Verizon, and he also ran point on Verizon's $248M purchase of Millennial Media last year -- another company with which the independent AOL had begun tie-up talks.
    • Yahoo has dipped today, -4.3%, to a new 52-week low of $26.48.
    • Previously: Verizon confirms interest in buying Yahoo (Feb. 08 2016)
    • Previously: Bain and TPG reportedly eyeing Yahoo; shares close down 4.7% post-earnings (Feb. 03 2016)
    • Previously: AOL closes $248M deal for Millennial Media (Oct. 23 2015)
    | Mon, Feb. 8, 3:29 PM | 10 Comments
  • Mon, Feb. 8, 2:02 AM
    • Speaking with Jim Cramer of CNBC's "Mad Money" on Friday, Verizon (NYSE:VZ) CEO Lowell McAdam confirmed that his company is weighing a bid for Yahoo (NASDAQ:YHOO).
    • "At the right price, I think marrying up some of their assets with AOL and the leadership would be good," he declared.
    • Verizon previously described its strategy as being broken into three tiers: having great connectivity, holding traffic-driving platforms, and owning content.
    • Previously: Verizon says any rumors of a bid for Yahoo are "false" (Jan. 28 2016)
    | Mon, Feb. 8, 2:02 AM | 59 Comments
  • Fri, Feb. 5, 6:35 PM
    • Verizon (VZ +1%) is following in the footsteps of T-Mobile's (TMUS -7.9%) Binge On -- at least partway -- by offering Verizon's postpaid customers the chance to watch content from the Go90 video service without touching the monthly data allowance.
    • The latest versions of Go90 apps (for iOS/Android) are tied to Verizon's FreeBee Data 360 sponsored data service, a form of "zero rating" content so it doesn't detract from a data limit.
    • Binge On still is more expansive, offering free streaming (downcoded) video from a variety of partners instead of only Go90. But it's an interesting step for Verizon, especially with the FCC taking a closer look at zero rating and its relation to new net neutrality regulations.
    • Verizon notes that video streaming is free of the cap, but other app activity, including commenting, download, etc., will count against data plans.
    • Previously: Wheeler: FCC's look at data exemptions is still lower level (Jan. 28 2016)
    • Previously: Verizon informs FCC of sponsored data plans (Jan. 20 2016)
    | Fri, Feb. 5, 6:35 PM | 3 Comments
  • Fri, Feb. 5, 4:17 PM
    • Following on November's multiyear deal, Verizon (VZ +1%) says it will offer live out-of-market NBA games via NBA League Pass on its Go90 video service starting tomorrow.
    • Go90 is giving registered users a free preview over the weekend, and they can buy a half-season package for $50 to keep viewing starting Monday, to cover the rest of the NBA season.
    • Also starting Monday, Verizon is offering registered users up to five games on the service for no cost, whether or not they watched games in the free preview.
    • Verizon and the NBA came to a multiyear content and marketing partnership in the fall that covered providing games as well as exclusive series, and made Verizon the official wireless provider of the league and affiliates.
    • Previously: Verizon wins NBA content for Go90 video service in multiyear deal (Nov. 04 2015)
    | Fri, Feb. 5, 4:17 PM | 5 Comments
  • Thu, Feb. 4, 5:54 PM
    • According to an FCC application, AT&T (NYSE:T) is pursuing a three-year experimental license to test 5G service in Austin, Texas, which might put it on a timeline with competitor Verizon (NYSE:VZ) in pursuing the next-gen wireless standard.
    • The telecom giant wants to do fixed and mobile tests with "various types of experimental wireless equipment" (but from undisclosed providers). The goal is to allow for trials (in the 3.5 GHz, 4 GHz, 15 GHz and 28 GHz bands) before standards are finalized in 2018-2019. A 5G service could provide wireless data speeds comparable to gigabit broadband.
    • Last September, Verizon announced an ambitious timetable that included 5G testing in 2016 followed by "some level of commercial deployment" in 2017; the company's CFO Fran Shammo has promised they would get to 5G first. Observers have assumed commercial rollout wouldn't happen until 2020.
    • This could also put some heat on upcoming spectrum auctions; tests are one thing, but commercial service means a need for more airwaves.
    • Previously: Verizon announces ambitious 5G timetable; to start field tests next year (Sep. 08 2015)
    | Thu, Feb. 4, 5:54 PM | 28 Comments
  • Thu, Feb. 4, 11:37 AM
    • Synchronoss (SNCR -13.2%) has tumbled to its lowest levels since 2013 after posting a Q4 beat on Wednesday morning. The culprit: Synchronoss guided on its earnings call (transcript) for 2016 revenue of $655M-$680M (+15% Y/Y at the midpoint) and EPS of $2.22-$2.45, largely below a pre-earnings consensus of $679.3M and $2.51. Free cash flow is expected to grow 10%-20% from 2015's $66.4M.
    • The company's Cloud Services segment (provides white-label cloud services to carriers) is expected to see revenue of $378M-$391M (+24% at the midpoint), with demand from both AT&T and major international carriers providing a lift. However, Activation Services (subscriber activation/provisioning software) is only expected to grow to $277M-$289M from 2015's $270M - Synchronoss says it's taking a "conservative view" for the business until it gets better visibility regarding certain international deployments.
    • Also: 1) Synchronoss' enterprise mobility JV with Goldman is expected to hurt by EPS by $0.10-$0.12 due to initial investments; the JV is forecast to approach breakeven by year's end. 2) Investments in a new JV with Verizon (NYSE:VZ) to roll out Synchronoss' Universal ID platform to Verizon subs and sell Universal ID to enterprises are expected to have a $0.06-$0.10 EPS impact.
    • Stifel has downgraded Syncrhonoss to Hold. The firm believes Q4 Cloud Services revenue was boosted by at least $18M thanks to one-time revenue related to the Verizon JV.
    • Synchronoss' Q4 results, earnings release
    | Thu, Feb. 4, 11:37 AM
  • Tue, Feb. 2, 3:24 PM
    • Yahoo (NASDAQ:YHOO) shares have jumped on news from Dow Jones that Yahoo will say it's exploring "strategic alternatives" in its aftermarket earnings commentary today.
    • Shares were down as much as 4.9% and have leapt to just a 0.4% decline.
    • It's the strongest indication yet that the company will consider a sale of all or part of its Web business.
    • The board has a fiduciary duty to listen to offers, which could come from Verizon (NYSE:VZ) or from private-equity firms that have expressed interest in parts of the business.
    • Sales have fallen at Yahoo in seven of the past 10 quarters.
    | Tue, Feb. 2, 3:24 PM | 23 Comments
  • Tue, Feb. 2, 9:00 AM
    • January monthly performance was: -3.31%
    • AUM of $1.63B
    • 52-week performance vs. the S&P 500 is: -2%
    • $0.10 in dividends were paid in January
    • Top 10 Holdings as of 12/31/2015: Exxon Mobil Corporation (XOM): 3.35%, AT&T Inc (T): 3.15%, Microsoft Corp (MSFT): 3.11%, Apple Inc (AAPL): 2.84%, Verizon Communications Inc (VZ): 2.5%, General Electric Co (GE): 2.36%, Johnson & Johnson (JNJ): 2.21%, Chevron Corp (CVX): 2.2%, Wells Fargo & Co (WFC): 2.06%, Procter & Gamble Co (PG): 1.93%
    | Tue, Feb. 2, 9:00 AM
  • Thu, Jan. 28, 7:14 PM
    • FCC Chairman Tom Wheeler says that the agency's look into so-called "zero rating" -- telecom providers exempting some services (sometimes paid) from subscriber limits -- is informational, and that he hasn't attended any meetings on it yet.
    • The talks are at the bureau level, he says: "I am not at these meetings. Nobody from the office of the chairman is in these meetings. They're gathering information and we'll see what happens from there."
    • The agency has been meeting with key providers, including T-Mobile (NASDAQ:TMUS), Comcast (NASDAQ:CMCSA), AT&T (NYSE:T) and surely Verizon (NYSE:VZ), now that it's rolling out its "FreeBee" sponsored data solution.
    • Meanwhile, Republican Commissioners Michael O'Rielly and Ajit Pai are expressing their concerns to the "inquistors" over a procedure they see as unnecessary.
    • Despite swirling concerns over net neutrality, Wheeler has praised T-Mobile's Binge On video streaming offering as "highly innovative and highly competitive."
    • Previously: Verizon informs FCC of sponsored data plans (Jan. 20 2016)
    • Previously: FCC summoning Internet providers to talk data policies (Dec. 17 2015)
    • Previously: FCC chairman: T-Mobile video initiative 'highly competitive' (Nov. 19 2015)
    | Thu, Jan. 28, 7:14 PM
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