60.90 -0.15 (-0.25%)
After hours: 7:37PM EDT
|Bid||60.90 x 1800|
|Ask||61.09 x 900|
|Day's range||60.31 - 61.30|
|52-week range||52.28 - 61.58|
|Beta (3Y monthly)||0.47|
|PE ratio (TTM)||15.94|
|Earnings date||25 Oct 2019|
|Forward dividend & yield||2.46 (4.08%)|
|1y target est||60.96|
In recent weeks Verizon has raised a HuffPost sale with potential acquirers, according to two people familiar with the discussions. The attempt to sell the progressive news site is a sign of how Verizon is continuing to slim down the family of dotcom businesses it amassed with the costly acquisition of Yahoo and AOL, assets it wrote down by almost $5bn earlier this year.
What you need to know: Verizon 5G Ultra Wideband mobility service is live in Talking Stick Resort Arena in Phoenix, Chase Center in San Francisco and Pepsi Center in Denver;.
Verizon’s 5G Lab, which is comprised of both network and XR technologists, continues to combine 5G network and XR expertise to produce ground breaking capabilities for the edge. The Verizon team recently developed a suite of enterprise XR technologies to drive emerging mobility experiences. Demonstrations of some of these technologies will take place in the Verizon booth at Mobile World Congress Americas.
(Bloomberg) -- If activist shareholder Elliott Management Corp. has its way, more than 30,000 AT&T Inc. workers could lose their jobs or face reductions in wages, according to a new estimate from the Communications Workers of America union.Most of the impact on workers would come from divestitures of DirecTV and AT&T’s landline business and closures of the company’s retail locations, if the company follows Elliott’s suggestions, said the CWA, which represents more than 100,000 AT&T employees.In September, billionaire Paul Singer’s New York hedge fund disclosed a new $3.2 billion position in AT&T, along with a plan to boost the telecom and media giant’s share price by more than 50% through asset sales and cost cutting. The fund hasn’t specifically called for job cuts. AT&T has said it has no plans to dispose of DirecTV, but Elliott could potentially engage in a proxy battle to push its agenda through.“If Elliott doesn’t get their way, they are going to do a proxy fight on the board, and then any or all of these things could happen,” said Christopher Shelton, president of the CWA. “We can’t leave that to chance, because that’s 30,000 jobs.”The Teamsters Union said Wednesday that it “stands in solidarity” with the CWA and its members “as they fight back against plans by a vulture capitalist hedge fund that would harm the company’s workers.” The Teamsters represent 1.4 million people.Elliott and AT&T didn’t immediately respond to requests for comment.Among the potential cuts the CWA sees:DirecTV employs about 10,000 workers represented by the CWA and the International Brotherhood of Electrical Workers whose jobs could be at risk if AT&T decides to divest the business, said Nell Geiser, assistant director of research at the CWA. Some of these jobs are at call centers, while others include technicians who do home installations and tech support.The landline business is supported by about 11,000 people whose jobs may be at risk and who work in rural areas in 26 states, the CWA estimated.Were AT&T to match Verizon Communications Inc. in the number of branded stores operated by third-party dealers, rather than by the company, it would close 970 corporate locations, the CWA said. It might close some additional corporate outlets due to geographic redundancy. In total, these moves would eliminate more than 8,500 retail sales workers, according to the CWA.If AT&T sells its operations in Puerto Rico and the Virgin Islands to Liberty Latin America Ltd. as planned, that could affect about 900 union jobs, the CWA said.The estimates don’t include workers who aren’t yet part of a union, “such as the tens of thousands at WarnerMedia,” the CWA said.These estimates should be taken with a grain of salt. In September, AT&T said DirecTV isn’t for sale, for example. Earlier this month, presidential candidate Elizabeth Warren called on AT&T to reject Elliott’s proposal as it would result in loss of jobs.(Updates with Teamsters comment in fifth paragraph.)\--With assistance from Scott Deveau and Scott Moritz.To contact the reporter on this story: Olga Kharif in Portland at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, John J. Edwards III, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
We used our Zacks Stock Screener to search for companies within the broader technology sector that also pay a dividend that investors might want to buy as Q3 earnings season heats up...
Keysight (KEYS) rides on robust adoption driven by high demand for 5G design and test solutions along with strong pipeline for new business bookings.
Ericsson's (ERIC) third-quarter results are supported by commercial 5G contract wins in 19 customer networks across 15 countries, spanning four continents.
Shares of AT&T (T) have surged 31% in 2019 to easily top its industry's 8% average climb and the S&P 500's 17% jump. So will AT&T stock continue to climb after it reports its Q3 2019 earnings results?
Verizon Communications (VZ) closed at $59.59 in the latest trading session, marking a -0.57% move from the prior day.
(Bloomberg) -- AT&T Inc. and Verizon Communications Inc. are rolling out generators, backup batteries and technicians to keep their wireless networks operating in parts of California where PG&E Corp. has intentionally shut down power to prevent wildfires.As many as 750,000 homes and businesses had power cut in what is the largest intentional blackout ever undertaken for wildfire prevention in California. That, in turn, is threatening to access to something almost as vital as electricity: wireless service.“We are aware that service for some customers may be affected by this event and are working as quickly as possible to deploy additional generators and recovery equipment,” Jim Greer, an AT&T spokesman, said Thursday.PG&E was forced into bankruptcy in the wake of wildfires caused by its equipment. The company is using large-scale power shutdowns now to prevent another deadly disaster.Blackouts in Oakland, San Jose and elsewhere threaten to be an economic drag, as stores close and companies are forced to buy generators to keep businesses open.Representatives from the major wireless carriers, including T-Mobile US Inc. and Sprint Corp., are working with the power companies and emergency services to keep their networks up. Of course, even with networks operating, customers in stricken areas will have trouble keeping their phones charged.“Our focus has been on ensuring our network remains up and reliable for residents, visitors and first responders in light of the commercial power outages,” said Karen Schulz, a Verizon spokeswoman.AT&T said it won’t charge subscribers in the affected areas if they exceed their data, calling or text limit, according to notifications sent to customers. The waiver expires Sunday.To contact the reporter on this story: Scott Moritz in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Enticingly low borrowing costs in euros might be great for companies looking to refinance debt. But they’re about to become a major headache half-way across the globe from Europe: in Taiwan.Taiwanese insurance companies binged on more than $180 billion of Formosa bonds -- notes listed in Taiwan but denominated mainly in dollars since regulators exempted them from restrictions on foreign investments. The securities helped the funds get yields unavailable in the local market.But as a wave of these bonds approach the dates when the issuers can call them, the risk is that the Taiwanese investors will be handed back their cash and forced to hunt for alternative securities. That’s because of attractive rates for borrowers in Europe.“Formosa is set for a redemption wave,” said Ruslan Bikbov, a rates strategist at Citigroup Inc. “If rates stay where they are or go lower, as we expect, then calls are pretty much automatic.”One recent example was Verizon Communications Inc. The New York-based telecoms giant last month called a $2.06 billion bond -- one of the largest issued in the Formosa market. The security due in 2046 had a coupon of 4.2%. Verizon then sold debt in euros and British pounds at cheaper cost, even if swapped back into dollars, according to data compiled by Bloomberg.Companies including AT&T Inc, Comcast Corp., Apple Inc. and Pfizer Inc. are facing similar decisions. Some $8 billion of Formosa bonds have callable dates by year-end. Another $22.4 billion reach their next call date in the first quarter of 2020.“Some Formosa bonds we bought were already called this year, and we expect the trend will last until at least 1Q next year,” said Hung-Sheng Chen, chief financial officer at Taipei-based Mercuries Life Insurance Co.Mercuries Life will look at options including Taiwanese dollar-denominated exchange-traded funds that track foreign assets, Chen said.Some issuers may decide not to call their Formosa bonds, to maintain their relationship with Taiwanese investors. But this if history is any guide, that’s unlikely to stem the tide. Borrowers redeemed almost $11 billion of Formosa bonds back in 2016, when U.S. dollar rates plummeted.“Will we have more bonds called? The answer is yes,” said Rick Chan, a portfolio manager at Pacific Investment Management Co. LLC, which oversees $1.84 trillion. “If I am one of those corporates who issued one of these bonds, my job is to do what is most economical for my company, which is to call these bonds.”(Adds name of issuer in sixth paragraph.)To contact the reporters on this story: Miaojung Lin in Taipei at firstname.lastname@example.org;Tasos Vossos in London at email@example.comTo contact the editors responsible for this story: Vivianne Rodrigues at firstname.lastname@example.org, Christopher Anstey, Hannah BenjaminFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Keysight's (KEYS) sustained focus on launching solutions for growth markets like 5G, IoT and high-speed datacenters augurs well for the top line.
The Zacks Analyst Blog Highlights: Verizon Communications, PepsiCo, Biogen, Bank of New York ??? Mellon and Cerner
In a recent proof-of-concept field trial, Verizon and NEC were able to use network infrastructure with existing fiber optic cables already laid in the ground as distributed optical sensors to collect information on city traffic patterns, road conditions, road capacity, and vehicle classification information. The trial used new optical sensor technology developed by NEC with software underpinned by artificial intelligence (AI) for intelligent traffic monitoring including the measurement of vehicle density, direction, speed, acceleration, deceleration, and more. Historically, companies have had to lay purpose-built fiber very shallow in the ground with fiber grating at pre-determined intervals to gather and synthesize this type of information.
(Bloomberg) -- T-Mobile US Inc.’s proposed merger with Sprint Corp. has received a third “yes” vote at the U.S. Federal Communications Commission, moving the deal toward agency approval in coming days, according to two people familiar with the matter.All three Republicans on the five-member agency have voted for the deal, setting in motion procedures that would require agency action by Oct. 9, or Oct. 16 if an extension is requested by a commissioner, the people said. Neither agency Democrat has cast a vote, and both have called for delay.The third “yes” came from Commissioner Brendan Carr, according to the people, who spoke on condition they not be identified because the voting is conducted behind closed doors. Carr in May issued a formal statement supporting the deal.Carr’s office on Friday didn’t immediately respond to an email or phone call seeking comment. Tina Pelkey, a spokeswoman for the FCC, declined to comment. Sprint declined to comment.Sprint rose 14 cents, or 2.4%, to $6.10 and T-Mobile was up 93 cents, or 1.2%, to $77.95 at 11:54 a.m. New York time.T-Mobile and Sprint have agreed not to close their deal until after a verdict in a multistate lawsuit, where trial is set for early December. The states say the combination of national wireless carriers will decrease competition and raise prices. The deal’s backers say it will quickly bring advanced 5G networks and create a stronger rival to leaders AT&T Inc. and Verizon Communications Inc.Groups including Consumer Reports, the Communications Workers of America union and the Rural Wireless Association in a filing Friday asked the FCC to pause its review. They said the agency needs to fully investigate its accusation that Sprint improperly accepted subsidy payments.The FCC on Sept. 24 said Sprint had claimed payments for 885,000 subscribers, even though those people weren’t using the system. Pai told the FCC’s enforcement bureau determine the extent of the problem and propose a remedy.The claim may slow but won’t threaten FCC approval of the merger, Matthew Schettenhelm, a Bloomberg Intelligence analyst, said in a note.(Updates with call to pause consideration in seventh paragraph.)\--With assistance from Scott Moritz.To contact the reporter on this story: Todd Shields in Washington at email@example.comTo contact the editors responsible for this story: Jon Morgan at firstname.lastname@example.org, Justin BlumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
It looks like Verizon Communications Inc. (NYSE:VZ) is about to go ex-dividend in the next 4 days. If you purchase the...
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will...
“Every industry is going to get disrupted,” Verizon Media Group CEO Guru Gowrappan said. “5G just accelerates that.”