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CTL

CenturyLink, Inc.

6/18/2013, 3:56 AM ET

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Friday, June 14, 4:51 PM CenturyLink's (CTL +0.3%) Savvis data center unit is joining the ranks of cloud app platform (PaaS) providers by acquiring AppFog, a startup said to have enabled 150K+ apps from 100K+ developers. Unlike Salesforce (the top PaaS provider for public cloud services), AppFog is more focused on enabling apps run on private clouds (i.e. a company's own infrastructure). It faces competition here from Microsoft (Azure), Red Hat, and EMC/VMware's Pivotal spinoff. Savvis notes AppFog complements its Savvis Cloud suite of cloud infrastructure (IaaS) services, which face competition from Amazon, Microsoft, and Google. Deal terms are undisclosed. (data center buildout) Comment! [Tech, M&A]
Thursday, May 30, 9:26 AM BMO launches coverage on U.S. carriers with a bullish slant: Verizon (VZ), Sprint (S), CenturyLink (CTL), and Frontier (FTR) have all been started at Outperform. AT&T (T) has been started at Market Perform, and Leap Wireless (LEAP), which has quite a few critics on both the sell-side and (judging by its huge short interest) the buy-side, has been started at Underperform. (yesterday's drop) Comment! [Tech]
Wednesday, May 29, 7:08 PM CenturyLink (CTL) continues investing aggressively in its Savvis data center unit, looking to both take advantage of healthy data center demand and lower its dependence on its slumping wireline voice ops. The telco recently stated it's opening data centers in London (just completed) and Hong Kong (November ETA), and is set to add capacity at 8 existing data centers (6 U.S. facilities, along with existing facilities in London and Singapore). Last December, CenturyLink launched savvisdirect, a division providing fast/simple access to cloud services to SMBs. Comment! [Tech]
Wednesday, May 29, 1:28 PM U.S. telcos are having a rough day. A general selloff in high-yield stocks could be a factor, but not all of the decliners pay huge dividends (if any). VZ -2.9%. WIN -2.7%. CTL -2.4%. CBB -2.5%. CBEY -4.7%. TWTC -2.1%. TDS -2.6%. SHEN -7.4%. Volatile Latin American carrier NII Holdings (NIHD -7.2%) is also selling off. 5 Comments [Tech, On the Move]
Wednesday, May 22, 4:08 PM Century Link (CTL) declares $0.54/share quarterly dividend, in line with previous. Forward yield 5.83%. For shareholders of record June 3. Payable June 14. Ex-div date May 30. (PR) Comment! [Dividends]
Thursday, May 9, 1:13 PM Frontier (FTR -1.6%) ticks lower as two rural telco peers head in opposite directions following their Q1 reports. CenturyLink (CTL +1.9%) is rallying in response to an EPS beat and reaffirmed free cash flow guidance, and Windstream (WIN -4.2%) is selling off due to a revenue/EPS miss caused by ongoing wholesale and (to a lesser extent) consumer weakness. Also: Highfields Capital's Jonathan Jacobson made a bear case for AT&T today featuring arguments - slumping wireline revenue and a potentially unsustainable dividend yield - that are often levied against rural telcos. (transcripts: CenturyLink, Windstream) (Frontier Q1: I, II) Comment! [Tech, On the Move]
Wednesday, May 8, 4:23 PM CenturyLink (CTL): Q1 EPS of $0.76 beats by $0.07. Revenue of $4.51B (-2% Y/Y) in-line. Free cash flow of $1.006B (-3% Y/Y). Expects Q2 revenue of $4.49B-$4.54B and EPS of $0.63-$0.68 vs. consensus of $4.54B and $0.66. Expects 2013 revenue of $18.1B-$18.3B and EPS of $2.50-$2.70 vs. consensus of $18.15B and $2.66. Maintains guidance for 2013 free cash flow $3B-$3.2B and capex of $2.8B-$3B. Shares +0.2% AH. (PR) Comment! [Tech, Earnings, Breaking News]
Wednesday, May 8, 12:10 AM Notable earnings after Wednesday’s close: AHT, ALJ, ATLS, ATVI, AVNR, CF, CLNE, CLR, CTL, CTRP, CUZ, CXW, DEPO, DK, ERII, ETE, ETP, GMCR, GRPN, GSS, HALO, HEK, HNSN, JOE, LPSN, MBLX, MDR, MED, MIDD, MM, MNST, MNTX, MWE, NWSA, OSUR, PPO, PVA, QTM, RAX, RGP, RIG, RST, SGMO, SPRD, SSRI, STEC, SXL, SZYM, TCAP, TSLA, WR, XTEX Comment! [Earnings]
Tuesday, May 7, 5:35 PM Notable earnings after Wednesday’s close: AHT, ALJ, ATLS, ATVI, AVNR, CF, CLNE, CLR, CTL, CTRP, CUZ, CXW, DEPO, DK, ERII, ETE, ETP, GMCR, GRPN, GSS, HALO, HEK, HNSN, JOE, LPSN, MBLX, MDR, MED, MIDD, MM, MNST, MNTX, MWE, NWSA, OSUR, PPO, PVA, QTM, RAX, RGP, RIG, RST, SGMO, SPRD, SSRI, STEC, SXL, SZYM, TCAP, TSLA, WR, XTEX Comment! [Earnings]
Wednesday, April 24, 10:44 AM AT&T (T -5.4%) gets slammed as 3 downgrades arrive in response to its Q1 revenue miss, the result of soft wireless subscriber adds and declining wireline revenue. There might also be concerns about whether lowering 2014/2015 capex targets (to fuel more buybacks?) is a bright idea in light of flagging growth. AT&T's 296K Q1 postpaid net adds (boosted by tablets) and 184K prepaid net losses are easily worse than Verizon's respective net adds of 677K and 43K. On the earnings call, AT&T mostly blamed wireline weakness on macro and government issues, rather than legacy voice service declines. VZ -1.9%. CTL -4%. WIN -2.2%. FTR -1.1%. 8 Comments [Tech, Earnings, On the Move]
Thursday, April 4, 10:35 AM CenturyLink's (CTL +2.4%) dividend (current yield of 6%) is sustainable, declares JPMorgan's Philip Cusick while upgrading shares to Buy - CenturyLink crashed in Feb. after cutting its dividend by over 25%. Cusick notes the telco's yield remains higher than Verizon and AT&T's, and believes it has been making good use of its $2B buyback plan. The upgrade comes as rural telcos try to take advantage of FCC chairman Julius Genachowski's pending departure to get Congress to implement a "time out" for the FCC's Universal Service Fund reforms. Comment! [Tech, On the Move, Quick Ideas]
Thursday, March 21, 1:25 PM Jim Ousley, the CEO of CenturyLink's (CTL -0.4%) Savvis data center colocation/Web hosting services unit, is retiring, effective April 1. Savvis president Jeff Von Deylen will take over Ousley's role at the company. CenturyLink acquired Savvis for $2.5B in 2011. (PR) Comment! [Tech]
Friday, March 8, 10:58 AM Looking to protect the duopoly/near-duopoly positions they have in many U.S. broadband markets, U.S. telcos and cable companies are lobbying hard to put an end to publicly-funded broadband networks, arguing (without irony) such networks hurt competition. AT&T (T), Time Warner Cable (TWC), Windstream (WIN), and Comcast (CMCSA) are some of the incumbents to have mounted lobbying efforts, which have led at least 19 states to place restrictions on public broadband investments. 13 Comments [Tech]
Wednesday, February 27, 7:10 PM CenturyLink, Inc. (CTL) declares $0.54/share quarterly dividend, 25% decrease from prior dividend of $0.725. Forward yield 6.26%. For shareholders of record Mar. 11. Payable Mar. 22. Ex-div date Mar. 07. (PR) 2 Comments [Dividends]
Saturday, February 23, 2:47 PM "There's no need for us to cut our dividend, neither this year nor next year nor in the future," says Windstream (WIN) CEO Jeff Gardner - his firm is committed to a $1/share/year payout (11.7% yield). But while Gardner argues a focus on business services will allow Windstream to avoid CenturyLink's (CTL) fate, many think rural telco yields can't last in light of wireline disconnections, capex needs, and potential tax credit removals. Nomura: "A lot of these companies are carrying the baggage of a legacy dividend policy that just doesn't make sense any more." FTR has a 9.8% yield, and CNSL a 9.3% yield. 16 Comments [Tech]
Thursday, February 14, 12:46 PM Midday top 10 gainers: STZ +37%. ART +32%. ANGI +24%. EMITF +21%. HNZ +20%. FFEX +20%. MEIP +18%. VCLK +17%. SPWR +17%. DSCO +16%.
Midday top 10 losers: TBAC -40%. NSPH -31%. END -31%. CTL -22%. WTW -17%. STMP -16%. STRA -11%. ULTA -11%. TCX -11%. ITRI -10%. Comment! [On the Move]

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