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Stock Market & Financial Investment News

News Breaks
August 20, 2014
15:31 EDTFTRFrontier Communications reaches new labor contract with IBEW
Frontier Communications and the International Brotherhood of Electrical Workers, AFL-CIO and its Local Unions 89 and 543 in California, Nevada, Oregon and Washington have reached a new collective bargaining Agreement through binding Interest Arbitration. The new Agreement covers approximately 1,000 employees, is effective immediately and expires in May 2017. The covered workforce includes technicians, call center consultants, and many other employees who support Frontierís operations locally and across the country. The Frontier and IBEW negotiating committees bargained intensively for more than 14 months to address priority issues for both, including improving the customer experience and operational efficiencies; addressing intense competition in the telecommunications industry during challenging economic times; maintaining a workforce focused on Frontierís core telecommunicationís activities; hiring and retaining the best employees; job security, and providing competitive wages and benefits. This new Agreement includes key provisions in which Frontier guarantees to continue to operate its Everett, Washington Contact Center and Fiber Assignment and Support Center for the duration of the new Agreement. These centers provide excellent customer service and quality employment opportunities in the region. This guarantee also reaffirms the value Frontier places in having a 100% U.S. - based workforce. Wage increases included in the Agreement are retroactive to May 26, 2013. The settlement also includes an innovative solution to offer high-quality health care while controlling ever-increasing health care costs with a joint IBEW-Employer sponsored Family Medical Care Plan.
News For FTR From The Last 14 Days
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April 20, 2015
17:32 EDTFTRFrontier Communications files automatic mixed securities shelf
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13:41 EDTFTREarnings Watch: Verizon shares up marginally since Q4 results
Verizon Communications (VZ) is expected to report first quarter earnings before the market open on Tuesday, April 21, with a conference call scheduled for 8:30 am ET. Verizon is a holding company providing communications, information and entertainment. EXPECTATIONS: Analysts are looking for earnings per share of 95c on revenue of $32.27B, according to First Call. The consensus range for EPS is 89c-$1.00 on revenue of $31.74B-$32.97B. LAST QUARTER: Verizon reported fourth quarter adjusted EPS of 71c against estimates for 72c on revenue of $33.19B against estimates for $32.69B. For Q4 in Wireless, the company reported 2.1M net retail connections; 2.0M net retail postpaid connections, including net additions of 672,000 postpaid phones; retail postpaid churn of 1.14%; 108.2M total retail connections and 102.1M total retail postpaid connections. In Wireline, it reported 4.1% year-over-year quarterly increase in consumer revenues. Verizon reported Q4 retail postpaid ARPA, or average revenue per account, increased 1.0% over Q4 of 2013 to $158.82 per month, and 3.9% over the full year. Verizon reported Q4 FiOS consumer revenue growth of 11.1%; 6.6M FiOS Internet subscribers, with 145K net additions; 5.6M FiOS Video subscribers, with 116K net additions. For 2015, Verizon expects consolidated revenue growth of at least 4%. It sees sustained profitability with a consolidated adjusted EBITDA margin at a level consistent with full-year 2014 performance. It also expects strong free cash flow generation with consolidated capital spending of $17.5B-$18.0B. On February 5, Frontier Communications (FTR) announced a definitive agreement with Verizon under which Frontier will acquire Verizonís wireline operations that provide services to residential, commercial and wholesale customers in California, Florida and Texas, for $10.54B in cash. On the same day, Verizon announced a $5B accelerated share-repurchase program and agreed to lease the rights to over 11,300 of its company-owned wireless towers to American Tower (AMT), which will also purchase approximately 165 Verizon towers, for a total upfront payment of approximately $5B. American Tower will have exclusive rights to lease and operate over 11,300 Verizon cell towers, a significant majority of the towers the company currently owns. In addition, Verizon will sell approximately 165 towers outright. On March 10 at the Deutsche Bank Media, Internet & Telecom Conference, CFO Fran Shammo said there was ďnot much changeĒ in the competitive environment since Q4-end, Q1 volume should return to "more normal levels," and Q1 churn is likely to be elevated from year ago, but not "something that is going to be concerning." PRICE ACTION: Verizonís shares are up marginally since the company's Q4 report. Over the past twelve months, they are up about 3.3%. In afternoon trading ahead of Tuesday's Q1 report, Verizonís shares are up 0.5%.
April 13, 2015
20:16 EDTFTRUSTelecom files net neutrality lawsuit against FCC
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April 7, 2015
10:05 EDTFTROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Carnival (CCL) upgraded to Outperform from Market Perform at Wells Fargo... Crown Castle (CCI) upgraded to Buy from Hold at Evercore ISI... Ctrip.com (CTRP) upgraded to Overweight from Neutral at Piper Jaffray... Demandware (DWRE) upgraded to Conviction Buy from Buy at Goldman... FirstEnergy (FE) upgraded at BofA/Merrill... Frontier Communications (FTR) upgraded to Neutral from Underperform at DA Davidson... JPMorgan (JPM) upgraded to Outperform from Market Perform at Bernstein... Pattern Energy (PEGI) upgraded to Outperform from Market Perform at Raymond James... Ralph Lauren (RL) upgraded to Buy from Outperform at CLSA... ResMed (RMD) upgraded to Outperform from Neutral at Credit Suisse... Ryanair (RYAAY) upgraded to Overweight from Neutral at JPMorgan... Splunk (SPLK) upgraded to Overweight from Neutral at Piper Jaffray... Total (TOT) upgraded at RBC Capital... Verifone (PAY) upgraded to Buy from Hold at Stifel... XL Group (XL) upgraded to Buy from Neutral at UBS.
08:00 EDTFTRFrontier Communications upgraded to Neutral from Underperform at DA Davidson
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