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News For CLWR;DISH;S;T;DTV From The Last 14 Days
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September 30, 2015
10:50 EDTTAT&T, Verizon could find it hard to sell enterprise businesses, CTFN says
The wireline units of AT&T (T) and Verizon (VZ) that serve corporate customers may be viewed as good units to sell if the companies need to raise cash to help defray spectrum acquisition costs, but a small number of potential buyers and low EBITDA multiples for the units could make any such divestitures challenging, contended CTFN. Level 3 (LVLT) could be seen as a potentially interested buyer, but a source within the company told CTFN that purchasing units that are part of other companies, known as a "carve out," doesn't match the company's usual M&A strategy. Reference Link
10:01 EDTDISHTEGNA says company, DISH have agreed to 24-hour contract extension
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07:20 EDTTAT&T Q3 wireless adds better than expected, says UBS
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05:38 EDTTAT&T IoT technology used by Maersk
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September 29, 2015
16:52 EDTTAT&T backs FY15 adjusted EPS view $2.62-$2.68, consensus $2.62
Backs FY15 double-digit revenue growth, consensus $153.06B. In a regulatory filing, AT&T reiterated its guidance for full-year adjusted EPS, double-digit revenue growth and continued consolidated margin expansion, even with foreign exchange pressure from the company's international operations. The company also expects capital spending to increase from second-quarter levels and free cash flow to be greater than $4.5B for the quarter. The company also reaffirmed all other full-year guidance. AT&T's wireless performance includes results from both business and consumer customers. AT&T expects more than 2M total net adds in the third quarter with gains in every customer category (postpaid, prepaid, connected devices and reseller). The company also expects positive branded voice net adds in the quarter. As a result, and with a continued focus on efficiency initiatives, the Company expects to maintain momentum in wireless service EBITDA margins. AT&T said its early integration efforts with DIRECTV are going well and are in line or better than expectations. The Company expects to report positive U.S. DIRECTV net adds in the third quarter and positive IP broadband net adds. U-verse TV subscribers are expected to decline as the Company continues to focus on satellite and high-value subscribers. The Company also said that it is changing the methodology DIRECTV used to count commercial subscribers to conform to AT&T practices. Previously, DIRECTV used a method of counting commercial customers that converted commercial accounts to an equivalent number of residential subscribers based on relative revenues per account. Under the new methodology, the Company will simply count each commercial account as one subscriber. This will reduce DIRECTV's total subscriber count by 918,600 at acquisition close on July 24, 2015. This change has no impact on historical or future revenues, EBITDA or cash flows. In International, the Company continues to show great progress in its deployment of 4G LTE in Mexico as the Company invests in that country's wireless network. AT&T is on track with reaching its end-of-year goal of covering 40 million POPs. The Company also continues its work on creating operating efficiencies for its Latin America satellite properties, even with foreign exchange pressure. AT&T will announce its full third-quarter results on Oct. 22.
13:09 EDTDISHGoogle to bring Showtime, NBA content to Chromecast
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12:27 EDTTAT&T may take $1.1B charge for DirecTV Venezuela assets, Reuters reports
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10:56 EDTTAT&T may take $1.1B charge for DirecTV Venezuela assets, CNBC says
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September 28, 2015
13:42 EDTSVerizon offers annual upgrade plan for iPhone users
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07:28 EDTTSamsung to pay customers up to $120 for buying new Galaxy phone, Verge says
Samsung's (SSNLF) new promotion in the U.S. will pay the rest of a customer's monthly payments in 2015 towards a new Galaxy S6, S6 Edge, S6 Edge+, or Galaxy Note 5, the Verge reports. The promotion will result in $120 off the price of any of those phones if users buy one under a new carrier installment plan between now and October 9, the report says. AT&T (T) will sit the promotion out, the report says. Reference Link
September 27, 2015
20:20 EDTSSprint says will not participate in 600 MHz spectrum auction
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16:21 EDTDISHDISH says TEGNA threatens to initiate channel blackout
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September 25, 2015
10:48 EDTDISHMorgan Stanley cautious on media, but sees several stocks punished too hard
Morgan Stanley cut its price targets on a number of media companies, citing the impact of cord cutting and skinny bundles. The firm also reduced its outlook for the pay-TV sector due to its belief that the adoption of skinny bundles will accelerate, while the outlook for cable TV ads has deteriorated slightly, given macro pressures. The firm kept a Cautious view on the media sector, but also identified several stocks in the space that it thinks have been punished too harshly by investors recently. WHAT'S NEW: TV networks in general, and cable networks in particular, have the highest margins in media and are encountering increased top and bottom line competitive pressures, Morgan Stanley analyst Benjamin Swinburne believes. On the top line, they are being hit by ratings and ad pressures as well as cord cutting and distribution consolidation, the analyst stated. Meanwhile, their profit is being hurt by the increased need to obtain new content and intensified competition for content from new sources like Netflix (NFLX) and Google's (GOOG) YouTube, Swinburne said. However, the analyst thinks that media stocks are "starting to get" cheap, given the leverage that many of the companies carry. Swinburne cuts his price target on 21st Century Fox (FOXA) to $31 from $37, on AMC Networks (AMCX) to $86 from $88, on CBS (CBS) to $46 from $56, on Time Warner (TWX) to $72 from $87 and on Viacom (VIAB) to $48 from $60. He kept Overweight ratings on Fox, AMC and CBS, an Equal Weight rating on Time Warner and an Underweight rating on Viacom. OVERDONE DECLINES: Swinburne believes that the declines in three media stocks - CBS, 21st Century Fox, and AMC Networks - have been overdone, while the decline in Comcast's (CMCSA) stock has also been excessive. CBS and 21st Century Fox are "best positioned for the skinny bundle" and have the cheapest valuations relative to their growth rates, Swinburne believes. Meanwhile, AMC Networks has "content momentum" and its EPS can exceed expectations, the analyst believes. Comcast is gaining share in the broadband Internet market, could take share in video soon, and has sufficient scale and offerings to benefit from the increased popularity of skinny bundles, according to the analyst, who kept an Overweight rating on the stock. The media sector could benefit from consolidation going forward, added Swinburne, who recommended that investors interested in buying potential takeover targets in the space focus on AMC Networks, MSG Networks (MSG) and Dreamworks Animation (DWA). He kept Overweight ratings on all three of those stocks. OTHERS TO WATCH: Besides Comcast, other pay TV companies include DISH Network (DISH) and Charter Communications (CHTR). PRICE ACTION: In early trading, Fox A shares lost 0.5% to $25.83, AMC fell 0.3% to $73.29, CBS added 0.2% to $41, Time Warner was little changed at $67.66 and Comcast A shares added 0.6% to $57.17.
September 24, 2015
19:03 EDTSVerizon offers annual upgrade plan for iPhone users
In the wake of recent iPhone purchase plans announced by Sprint (S) and T-Mobile (TMUS), Verizon (VZ) announced that customers who purchase either the Apple (AAPL) iPhone 6s or iPhone 6s Plus with Verizon's Device Payment option will be eligible to get a new iPhone every year. "Yes, no more waiting for your contract to end... The new program allows you to turn in your phone and upgrade to a new iPhone every year," remarked the company. Verizon added that its customers will still have the option to pay off the phone without upgrading.
14:04 EDTSSprint CEO expects to have adequate supply of new iPhones, Re/code says
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12:34 EDTSSprint volatility at one-year high
Sprint October weekly call option implied volatility is at 78, October is at 71, November is at 72; compared to its 52-week range of 37 to 75, suggesting large price movement.
09:22 EDTT, SSprint to offer iPhone 6s 16GB for $1 per month
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06:30 EDTSAltice to aggressively expand presence with Cablevision buy, Variety says
Altice's (ATCEY) proposal to acquire Cablevision (CVC) is a signal that Altice founder Patrick Drahi intends to extend his vision across the Atlantic, Variety says. Altice may just be getting started when it comes to shopping for U.S. media assets, and has already snatched some $40B worth of cable, wireless and telecom assets over the past two years, the report says. There's talk of Altice also going after a wireless firm such as Sprint (S) or T-Mobile (TMUS) to further its strategy for growth, the report says. Reference Link
September 23, 2015
17:41 EDTTAT&T, CSC announce hybrid cloud management platform
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11:48 EDTTSynchronoss drops after concerns raised about Verizon cloud business
After Verizon (VZ) recently reduced the amount of free cloud storage it provides to customers as part of its cost cutting efforts, analysts at Baird told investors they were "increasingly concerned" that the telecom giant is "no longer fully committed" to the white-label cloud product it offers via its agreement with cloud services provider Synchronoss Technologies (SNCR). Analysts at two other firms have issued defenses of Synchronoss in the wake of its sharp decline today. BEARISH VIEW: After Version cut its free cloud storage to 5GB from 25GB, Baird said it believed the Telco is less committed to Synchronoss' cloud offering, which the firm contended will "likely have revenue implications for 2016." The firm, which said it has had a negative bias on Synchronoss due to long-term cloud competitive concerns and the lack of growth outside of AT&T (T) and Verizon, has a Neutral rating on the cloud services provider's shares. DEFENSES: JPMorgan analyst Sterling Auty attributes today's pullback in shares of Synchronoss to the concerns raised about the potential loss of Verizon as a cloud customer. Auty, however, sees "no chance" of Synchronoss losing Verizon as a customer in the near-term since the wireless carrier recently renewed its contract with the company for multiple years. He views today's selloff as a "significant overreaction" and recommends buying Synchronoss at current levels. Also noting concerns raised about Synchronoss' potential loss of some cloud business, Wells Fargo said even if Synchronoss' cloud business exhibited zero growth in 2016 from 2015, shares would be compelling at current levels. The firm views the selloff as overdone and reiterates its Overweight rating on Synchronoss shares. PRICE ACTION: Synchronoss shares, which dipped as low as $27.86 this morning, are off their worst levels but remain down $4.65 to $32.74 in late morning trading.
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