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Verizon Communications Inc. (VZ)

NYSE - NYSE Delayed price. Currency in USD
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60.35-0.24 (-0.40%)
At close: 4:00PM EDT
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Trade prices are not sourced from all markets
Previous close60.59
Open60.18
Bid60.31 x 4000
Ask60.35 x 1300
Day's range60.15 - 60.94
52-week range48.84 - 62.22
Volume21,769,077
Avg. volume14,435,501
Market cap249.402B
Beta (5Y monthly)0.43
PE ratio (TTM)13.06
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield2.51 (4.14%)
Ex-dividend date08 Oct 2020
1y target estN/A
  • Huawei Ban Spurs New Competition for Ericsson, Nokia
    Bloomberg

    Huawei Ban Spurs New Competition for Ericsson, Nokia

    (Bloomberg) -- The U.S. ban on Huawei Technologies Co. was supposed to hand leadership of the lucrative market for wireless base stations to Ericsson AB and Nokia Oyj. It’s not working out that way.The crackdown on China’s largest technology company has given startups such as Altiostar Networks Inc. and new entrants including Qualcomm Inc. a rare opportunity to grab a slice of the $35 billion the telecom industry spends each year on this crucial part of mobile phone networks.“This could break up that tech vendor lock-in that’s been around for decades,” said Andre Fuetsch, chief technology officer of network services at AT&T Inc., the third largest U.S. wireless carrier. “It’s about how do you create a much more competitive, innovative ecosystem.”Base stations are the heart of cellular networks, powering millions of antennas that perch on cell towers and city rooftops all over the world. Until recently, these boxes were a proprietary combination of processors and software that had to be purchased all at once. Huawei, Ericsson and Nokia account for three quarters of this market, which is worth as much as $35 billion a year, according to researcher Dell’Oro Group.Open radio access network, or O-RAN, changes this by creating an open standard for base station design and ensuring all the software and components work well together -- no matter who is supplying the ingredients.This is a potentially radical shift. When telecom giants such as AT&T and China Mobile Ltd. want to expand their network they usually have to call their existing supplier and order more of the same because a box from Nokia won’t work with one from Ericsson. The new technology lets wireless carriers mix and match more easily.The initiative also means that new suppliers can succeed by focusing on one or two components, or a single piece of software, rather than spending lots of time and money building a whole base station from the ground up.O-RAN gear has been used sparingly since an industry alliance was formed to promote the technology in 2018. But when the U.S. toughened its stance against Huawei last year and encouraged other countries to crack down, interest in O-RAN adoption increased. The Chinese tech giant is a low-cost provider. Now it’s unavailable in some markets, carriers are more willing to look at alternative suppliers embracing the more flexible O-RAN approach.“Increased geopolitical uncertainty is helping them to get an invite to the table they would not normally have had,” Dell’Oro Group analyst Stefan Pongratz said. “Multiple vendors, not just in Europe but across the world, are basically reassessing their exposure to Huawei.”How Huawei Landed at the Center of Global Tech Tussle: QuickTakeOpen standard base stations will generate sales of about $5 billion in the next five years, more than originally predicted, according to Dell’Oro.Ericsson questions the performance and cost-efficiency of current O-RAN offerings. But the telecom companies, who decide where the money is spent, aren’t being shy about telling incumbent providers to get on board or risk being left behind.“We’ve been candid with them: This is the architecture that the operator community is pursuing,” said Adam Koeppe, who oversees technology strategy, architecture and planning at Verizon Communications Inc., the biggest U.S. wireless carrier.The list of companies vying to fill the gap left by Huawei is a mixture of some of the oldest names in technology and newcomers. Qualcomm, Intel Corp., Hewlett Packard Enterprise, Dell Technologies Inc., Cisco Systems Inc., Fujitsu Ltd. and NEC Corp. are offering various parts of the new base station technology. Startups such as Altiostar, Airspan Networks and Mavenir Systems are trying to carve out niches, too.O-RAN proponents point to the success of Rakuten Inc., a Japanese e-commerce provider that has used the technology to break into mobile phone services. The company began 4G wireless service in April and is upgrading to 5G now, using O-RAN suppliers including NEC, Qualcomm, Intel, Altiostar and Airspan. Rakuten said using this more open approach has cut capital expenditure by 40% and reduced operating costs 30%.Dish Network Corp. is building a 5G wireless network in the U.S. with help from Altiostar. New projects like this are great, but the real opportunity is with operators that are shifting their existing networks to O-RAN, according to Thierry Maupilé, Altiostar’s executive vice president of strategy and product management. The Tewksbury, Massachusetts-based company has raised more than $300 million from investors such as Rakuten, Qualcomm and Cisco.Why 5G Mobile Is Arriving With a Subplot of Espionage: QuickTakeO-RAN is part of a broader push to make all kinds of computer networks more flexible and easy to control. By standardizing hardware and using more software in centralized data centers, companies can run networks more cheaply, while fixing and upgrading them more easily. 5G will need this flexibility to work well.For AT&T, the new approach has already started to help. The company has introduced Samsung equipment based on O-RAN in areas where it had previously been limited to Ericsson gear, AT&T’s Fuetsch said.Nokia expects to have a full range of O-RAN offerings available in 2021. Some of the final standards aren’t yet set and they need to be completed and tested which will take time, according to Sandro Tavares, global head of marketing.“O-RAN is supported by more than 20 major operators around the world, so it is pretty clear that there is a strong push for it to happen,” he said. “This is a big move for our industry, and it is clear for the main players that we should not be cutting corners in this process.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Facebook Focuses on Small Businesses, Ignores Celebrity Pause
    Bloomberg

    Facebook Focuses on Small Businesses, Ignores Celebrity Pause

    (Bloomberg) -- Civil rights groups escalated their campaign to encourage boycotts of Facebook Inc. this week. Their StopHateForProfit initiative, which already convinced scores of top-tier companies to pull advertising in July, rallied celebrities to stop posting on Facebook-owned Instagram on Wednesday.But Sheryl Sandberg, Facebook’s chief operating officer, appears unfazed. She’s been spending the last few months worrying about a bigger advertising problem: the Covid-19 crisis, and how it threatens to shutter small businesses.The majority of Facebook’s advertising revenue doesn’t come from the major brands, like Verizon Communications Inc. and Unilever NV that joined the summer boycott and grabbed headlines. Instead, it’s driven by smaller companies -- the hair salons, bakeries and gyms most severely affected by public health restrictions around the world.Facebook didn’t make any major changes to satisfy the StopHateForProfit brands. “We agreed with their premise,” Sandberg said. “We don’t want hate on our platform.” Meanwhile, the company was scrambling to come up with solutions for more vulnerable companies. Facebook, with more than 3 billion users on its properties around the world, isn’t immune to global economic swings.In the early days of the pandemic, Facebook quickly built ways for small businesses to solicit donations to continue paying their employees, to distribute gift cards and to build online storefronts with e-commerce tools. On Thursday, the company announced Facebook Business Suite, which makes it possible to post, see notifications and receive messages from Facebook and Instagram accounts at the same time. The tool will be available only to small businesses first, before expanding to larger companies next year.“The more businesses or small businesses thrive online, the more small businesses become advertisers,” Sandberg said.The choice to focus on small businesses, instead of appeasing the big guys, is working out for Facebook so far. The StopHateForProfit campaign continued, with celebrities Kim Kardashian, Katy Perry, Naomi Campbell and others pausing their Instagram posts for a day. But among major brands, “most of our advertisers are back,” Sandberg said. “Most of them who had paused have unpaused.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • DOJ Indicts Chinese Hackers for Break-Ins at 100 Companies
    Bloomberg

    DOJ Indicts Chinese Hackers for Break-Ins at 100 Companies

    (Bloomberg) -- The Justice Department revealed Wednesday previously sealed indictments of five Chinese hackers and two Malaysian businessmen accused of intrusions that hit more than 100 companies in the U.S. and abroad.The attacks “facilitated the theft of source code, software code signing certificates, customer account data and valuable business information,” the department said in a statement.Targets of the attacks included software development companies, computer hardware manufacturers, telecommunications providers, social media companies and video game companies, the department said. It said the first of the previously undisclosed grand jury indictments came in August 2019 and the others this August.Department officials credited Malaysian authorities for arresting the two businessmen who it said conspired to profit from attacks on the video game industry.“Unfortunately, the record of recent years tells us that the Chinese Communist Party has a demonstrated history of choosing a different path, that of making China safe for their own cyber criminals, so long as they help with its goals of stealing intellectual property and stifling freedom,” Deputy Attorney General Jeffrey Rosen told reporters during a press conference in Washington.‘Proxies’ for ChinaThe indictments don’t allege that the hackers were working for the Chinese government. But other evidence indicates they were acting as “proxies” for Beijing, including carrying out hacking attacks that aren’t related to making a profit but instead related to espionage, said Michael Sherwin, acting U.S. Attorney for the District of Columbia.China said it “consistently” opposed cyber attacks and called itself “a staunch guardian of cyber security” on Thursday when asked about the indictments.“To our regret, the U.S. side, for a long time, has been using the cyber security issue to smear and attack China,” Chinese Foreign Ministry spokesman Wang Wenbin told a regular briefing in Beijing. “It has been using political manipulation to spread false information about China. We urge the U.S. to adopt an objective attitude and approach this issue in an objective way. It should resort to cooperation to address cyber attack issues.”The ministry regularly denies involvement when questioned about foreign cyber attacks. The announcement comes as President Donald Trump is targeting China in his re-election campaign, blaming the country for failing to prevent the international spread of the coronavirus pandemic and for trade practices he calls unfair.The Trump administration shuttered the Chinese consulate in Houston in July after years of frustration about what it says were criminal and covert activity directed by Beijing to steal trade secrets and carry out malign influence operations across the U.S.In a new twist, two of the Chinese hackers attacked the billion-dollar video game industry for financial gain, Sherwin said.They attacked at least six companies associated with the video game industry in New York, Texas, Washington, Illinois, California and the U.K., according to one of the indictments.The hackers accessed company databases and fraudulently generated digital items, such as video game currency, which they then sold for profit, according to the indictment.Overall, the five hackers created millions of dollars in damages to companies in countries including the U.S., U.K., Germany, India, Japan and Indonesia, the Justice Department said.The department is seeking to extradite the two Malaysians, FBI Deputy Director David Bowdich said.Justice Department officials said that Microsoft Corp., Facebook Inc., Alphabet Inc.’s Google and Verizon Communications Inc. helped develop measures to block the intrusions.Last week, Microsoft issued a sharp warning about election-related hacking and interference by groups linked to Russia, China and Iran.The company’s report said the Russians are launching campaigns “presumably to aid in intelligence gathering or disruption operations,” while China “has attempted to gain intelligence on organizations associated with the upcoming U.S. presidential election.”APT 41 is known among security researchers for carrying out “state-sponsored espionage activity in parallel with financially motivated operations” including for personal gain, according to a 2019 report by the cybersecurity firm FireEye Inc.“Explicit financially-motivated targeting is unusual among Chinese state-sponsored threat groups,” the researchers found.Last year, APT 41 malware was used to steal SMS text messages from high-ranking military and government targets at an unprecedented scale, FireEye found.(Updates with Chinese Foreign Ministry comment.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.