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Verizon Communications Inc. (Verizon, or the Company) is one of the world’s leading providers of communications services. Formerly known as Bell Atlantic Corporation, we were incorporated in 1983 under the laws of the State of Delaware. We began doing business as Verizon Communications Inc. on... More
Thursday, Dec 53:19 AMAT&T eyes $2.75B Verizon spectrum
Thursday, Dec 53:19 AM| 1 Comment
- AT&T (T) is reportedly thinking about bidding for spectrum licenses owned by Verizon Wireless (VZ), which bought the assets for $2.4B and may receive up to $2.75B in any deal.
- An AT&T bid could put it up against T-Mobile US (TMUS), whose marketing strategy has included targeting AT&T in the companies' battle for customers.
Tuesday, Dec 34:28 PMFCC chairman hints spectrum rules will favor smaller carriers
Tuesday, Dec 34:28 PM| 4 Comments
- New FCC chairman Tom Wheeler: "Spectrum is finite ... A key goal of our spectrum-allocation efforts is ensuring that multiple carriers have access to airwaves needed to operate their networks."
- Wheeler also made note of an April DOJ filing calling on major upcoming FCC spectrum auctions (due in 2014, at the earliest) to be designed to guarantee smaller carriers get enough low-frequency airwaves (better for rural areas).
- The remarks have been praised by Sprint (S -1.8%) and T-Mobile USA (TMUS +1.9%), who have been calling for such rules themselves. Bigger rivals AT&T (T -0.2%) and Verizon (VZ +0.7%), who between them own ~75% of the country's low-frequency mobile spectrum, probably aren't as pleased.
- Sprint, which obtained a huge chunk of high-frequency (2.5GHz.) spectrum through the Clearwire deal, claims it would need 13-15 2.5GHz. cell sites to cover as much ground as one 700 MHz. site. T-Mobile is reportedly looking to buy unused 700MHz. spectrum from Verizon.
- AT&T is set to acquire high-frequency (1.7-2.1GHz.) spectrum through the Leap Wireless deal, but (no doubt to appease the FCC) plans to have Leap sell 700MHz. spectrum it recently acquired for $204M.
Wednesday, Nov 276:02 PMWSJ: H-P replacing Verizon as Obamacare site hosting provider
Wednesday, Nov 276:02 PM| 10 Comments
- The WSJ reports the Department of Health and Human Services plans to have H-P (HPQ +9%) replace Verizon's (VZ -0.2%) Terremark unit as the Web hosting services provider for the much-criticized Obamacare health-insurance marketplace site (HealthCare.gov).
- The department reportedly awarded H-P a contract over the summer, before the site went live and ignited a firestorm of criticism due to performance, reliability, and security concerns.
- While the dollar value of the deal is unlikely to significantly move the needle for either H-P or Verizon, the department's switch could have PR implications. Both H-P and Terremark are trying to gain ground in a hotly competitive cloud infrastructure market currently dominated by Amazon.
- The report comes on a day in which H-P nearly made new 52-week highs on account of its big FQ4 revenue beat.
Monday, Nov 257:28 PMBloomberg: Intel asking for $500M for TV business, Verizon thinking big
Monday, Nov 257:28 PM| 8 Comments
- Bloomberg reports Intel (INTC) has set an asking price of $500M for the assets of its would-be Web TV service, and is hoping to reach a deal by year's end.
- Though lacking any revenue, the business does have some potentially valuable IP and software assets stemming from startup acquisitions, as well as Intel's efforts to create a unique set-top UI and cloud DVR for its service.
- Verizon and Liberty Global have already been rumored to be talking with Intel about possibly buying the unit.
- Bloomberg's sources indicate Verizon (VZ) is looking to use the Intel unit as a springboard to offer its own Web TV service, one that would expand its TV reach to areas not covered by FiOS. Verizon has reportedly been asking content owners if it would need new contracts to offer a Web TV service, or if it could simply amend its FiOS deals.
Monday, Nov 254:03 PMMost popular hedge fund shorts according to Goldman monitor
Monday, Nov 254:03 PM| 17 Comments
- The most popular shorts according to Goldman's Hedge Fund Monitor which analyzes the positions of 783 funds with $1.6T in assets (in reverse order, i.e. the last in this list is the most heavily shorted): SYY, KO, TGT, BMY, SNDK, UPS, SLB, GE, CVX, PFE, CAT, COP, EMC, PG, NFLX, WMT, JNJ, DIS, CRM, VZ, IBM, XOM, T, GILD, INTC.
- A quick scan finds Netflix making both the top 25 list of most heavily shorted and the top 20 list of most concentrated longs. List of 20 longs is here.
Wednesday, Nov 2011:06 AMVerizon willing to sell spectrum, doesn't see enterprise improvement
Wednesday, Nov 2011:06 AM| 1 Comment
- Shortly after Reuters reported T-Mobile USA (TMUS +1.1%) has approached Verizon (VZ +0.7%) about buying spectrum, Verizon CFO Fran Shammo has confirmed his company is willing to sell its unused A Block spectrum.
- However, Shammo insists (perhaps as a negotiating tactic) Verizon is willing to deploy the spectrum itself if it doesn't received a fair offer.
- The spectrum resides in the 700MHz. band, which is well-suited for low-density areas where range is more important than bandwidth. By contrast, Verizon's traffic are largely in high-density metro areas such as NYC, Chicago, and San Francisco, where its ramping 4G capex to relieve congestion.
- Shammo has also made cautious remarks about 2014 U.S. enterprise/macro conditions. "The good news is that the macro enviro is not getting worse, but not getting better ... In the U.S. we still have too much uncertainty around what tax reform looks like."
- Big Red's enterprise mobile sales have been healthy, but its wireline business sales have been declining, thanks to voice line disconnections and strong data services competition. Verizon's global enterprise wireline revenue fell 3% Y/Y in Q3 to $3.67B, and small business wireline revenue fell 3% to $650M.
Tuesday, Nov 192:25 PMReuters: T-Mobile looking to buy spectrum from Verizon
Tuesday, Nov 192:25 PM| Comment!
- A source tells Reuters T-Mobile USA (TMUS) has approached Verizon (VZ -0.1%) about acquiring spectrum, albeit while cautioning the sales process is in the early stages. An analyst estimates the price tag for the spectrum, which isn't being used by Verizon, could total $3B.
- T-Mobile is in the midst of raising $3.65B via stock and debt offerings, and has been expected to use much of the proceeds to go spectrum-shopping. The carrier priced its debt offering last night: It's selling $1B worth of 6.125% 2022 senior notes, and $1B worth of 6.5% 2024 senior notes.
- Verizon, meanwhile, may be looking to raise cash via asset sales after taking on $61B in debt ($49B through a massive bond sale) to help pay for the Vodafone deal.
Friday, Nov 152:55 PMFCC wants carriers to allow unlocking, pushing ahead with H-Block auction
Friday, Nov 152:55 PM| 2 Comments
- New FCC chairman Tom Wheeler has sent a letter to U.S. mobile trade group CTIA calling on carriers to set policies for allowing consumers to unlock their phones once their contracts are up, or else be required to via regulations.
- Wheeler also wants carriers to notify consumers when their phones are eligible to be unlocked, arguing "any voluntary program would be a hollow shell" in the absence of user awareness.
- Consumer groups have long called for phone unlocking to be legalized, and a White House petition on the matter racked up 114K signatures.
- Large-scale phone unlocking could increase the churn rates seen by U.S. carriers (VZ, T, S TMUS), as customers no longer have the need to buy a new phone (and, if they want a subsidy, agree to a 2-year contract) to switch carriers. But it could also lower phone subsidy expenses.
- Separately, Wheeler says the FCC is pushing ahead with its H Block spectrum auction, even though Sprint and T-Mobile have said they're not interested. Sprint had been expected to bid in the auction, which covers airwaves in the 1900MHz. band (good for urban/high-traffic areas).
- With Sprint out of the picture, the coast is clear for Dish (DISH -0.5%) to win the auction, which is now set for Jan. 22 and has a reserve price of $1.56B. The H Block spectrum is adjacent to the (currently unused) frequencies already owned by Dish.
Friday, Nov 1512:39 PMComcast shakes up the pay-TV sector with digital movies plan
Friday, Nov 1512:39 PM| 3 Comments
- Comcast (CMCSA -0.3%) will offer both new releases and older movies for purchase to its consumers to store in the cloud.
- The company is working with all the major studios to rapidly expand its library and could release some titles before the DVD and Blu-Ray window opens.
- Verizon (VZ -0.8%) is the only other major pay-TV player selling digital movies, although Dish Network (DISH -0.7%) is reported to be considering a similar move.
Wednesday, Oct 309:28 AMIntel reportedly set to abandon TV project, sell assets to Verizon
Wednesday, Oct 309:28 AM| 9 Comments
- Sources tell AllThingsD control of Intel Media, the unit responsible for Intel's (INTC) Web TV service project, could soon be handed off to FiOS provider Verizon (VZ). It isn't clear if Intel would hold onto some of the unit's assets.
- There were multiple reports last month Intel's project, which was met with skepticism from the start, was in dire straits. Content licensing talks proved difficult amid hostility from pay-TV providers worried about new competition, and from all indications, new CEO Brian Krzanich hasn't viewed the project as a priority.
- If Verizon was to acquire Intel Media, its FiOS division could find some use for the set-top software/UI and cloud DVR tech the unit was working on. Intel Media acquired three startups to assist with its software efforts.
Tuesday, Oct 298:22 AMRedbox Instant arrives on the PlayStation 3|Tuesday, Oct 298:22 AM| Comment!
Friday, Oct 189:34 AMA roundup of tech ratings changes
Friday, Oct 189:34 AM| Comment!
- AMD (AMD -12.7%) has been cut to Neutral by BofA/Merrill after beating Q3 estimates and providing above-consensus Q4 revenue guidance, but also reporting a 15% Y/Y drop in CPU division sales due to PC weakness.
- Verizon (VZ +0.8%) has been upgraded to Buy by Stifel a day after beating Q3 estimates and reporting better-than-expected mobile subscriber adds.
- Amazon (AMZN +2.4%) has been upgraded to Buy by UBS ahead of its Oct. 24 Q3 report.
- VMware (VMW +2.8%) has been upgraded to Overweight by JPMorgan ahead of Monday's Q3 report.
- T-Mobile USA (TMUS +2.7%) has been added to Goldman's Conviction Buy list ahead of its Nov. 5 Q3 report.
- Intuit (INTU +2.6%) has been upgraded to Buy by BofA/Merrill.
- Align Technology (ALGN +24.4%) has been upgraded to Buy by Cantor following its Q3 beat.
- LG Display (LPL -0.2%) has been cut to Hold by Craig-Hallum after issuing a Q4 warning.
- Ultratech (UTEK -10.2%) has been cut to Hold by Canaccord following its Q3 miss.
- Sierra Wireless (SWIR -1%) has been cut to Market Perform by Raymond James; Q3 results arrive on Nov. 7.
- Aspen Technology (AZPN -0.9%) has been cut to Neutral by JPMorgan.
- Analog chipmakers International Rectifier (IRF -1.7%) and Monolithic Power (MPWR -1.3%) have been cut to Market Perform by Wells Fargo.
- U.S. Cellular (USM -1.2%) has been started at Underperform by FBR.
Thursday, Oct 179:38 AMVerizon's Q3 subscriber adds impress, shares rise
Thursday, Oct 179:38 AM| Comment!
- Verizon (VZ +2.4%) added 1.1M net retail wireless connections in Q3, and saw 927K retail postpaid net adds. Those figures compare with 1M and 941K in Q2, and are evidence Big Red continues to take U.S. mobile share. Total retail postpaid connections +5% Y/Y to 95.2M, total retail connections +5% to 101.2M; both figures grew at a 6% clip in Q2.
- Verizon's wireless service revenue rose 8.4% Y/Y in Q3, even with Q2 and outpacing sub growth. Wireless op. margin was 33.8%, +140 bps Q/Q and +200 bps Y/Y. 67% of retail postpaid subs now use smarphones (up from 64% in Q2), and 42% use a shared data plan.
- Retail postpaid ARPA +2% Q/Q and +7% Y/Y to $155.74. But retail postpaid churn was 0.97%, up from 0.91% a year ago.
- FiOS Internet and TV net adds totaled 173K and 135K, respectively. That compares with 161K and 140K in Q2. FiOS Internet and TV subs totd 5.9M and 5.2M at quarter's end. Total broadband connections rose by 56K Q/Q to 9M. Consumer wireline ARPU rose 8.7% Y/Y to $112.86.
- However, wireline revenue fell 1% Y/Y, as declines in small business, "Core" enterprise, and global wholesale services offset gains for consumer retail and "strategic" enterprise. 371K wireline voice connections were lost, total voice connections -6% Y/Y to 21.5M. Wireline op. margin was 1.6%, up from 0.8% in Q2 and 0.4% a year ago.
- Q3 results, PR
Thursday, Oct 179:28 AMVerizon's Q3 iPhone sales healthy
Thursday, Oct 179:28 AM| 16 Comments
- Verizon (VZ) has disclosed on its Q3 CC the iPhone (AAPL) accounted for 51% of its Q3 smartphone activations (different from sales), up from 43% in Q2 and 46% a year ago even though the 5S/5C arrived late in the quarter and the 5S was supply-constrained. iPhone activations totaled 3.89M, roughly flat Q/Q and +25% Y/Y.
- The figures back up Q3 numbers from research firms, which indicate the iPhone picked up smartphone share in the U.S. (one of its two strongest major markets, along with Japan) ahead of the 5S/5C launches.
- AAPL -0.4% premarket. AT&T's Q3 report arrives on Oct. 23, and Apple's FQ4 report is due on Oct. 28.
Thursday, Oct 177:42 AM
Thursday, Oct 1712:05 AM
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