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Stock Market & Financial Investment News

News Breaks
August 21, 2014
14:11 EDTGOGO, VZGogo advances after blog discusses takeover speculation
Shares of Gogo (GOGO), which provides in-flight connectivity solutions, are climbing after a blog reported that there have been rumors that Verizon (VZ) could be interested in buying the company. WHAT'S NEW: Wall Street is "buzzing" with speculation that Verizon could be interested in acquiring, partnering with, or launching a joint venture with Gogo, a blog on Runway Girl Network stated earlier today. Verizon once provided telephones on domestic flights and has always been interested in the space, the blog added. Runway Girl Network, in addition to highlighting the achievements of women in aviation, says it combines "talented aviation journalists" and "first-hand knowledge of the passenger experience" to report news. ANALYST REACTION: In a note to investors today, Wells Fargo analyst Andrew Spinola wrote that Verizon, in addition to potentially being attracted to Gogo's aviation broadband, could be interested in the company's 4 MHz of 800MHZ spectrum. 800MHz spectrum is one of the most valuable spectrum bands, according to the analyst, who said that Gogo may now be trading at a level that is about equal to the value of its underlying spectrum. But there are a number of reasons why Verizon may not buy Gogo, Spinola believes. Among these are the fact that Verizon has said that it's not interested in providing aviation wifi services. Further, with Gogo transitioning to satellite, its spectrum should eventually become available for sale, reducing the need to acquire the entire company, the analyst explained. He kept a Market Perform rating on Gogo. PRICE ACTION: In mid-afternoon trading, Gogo climbed 91c, or 5.5%, to $18.
News For GOGO;VZ From The Last 14 Days
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November 12, 2014
12:08 EDTVZVerizon in settlement with Maryland AG over 'misleading offers'
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10:20 EDTVZVerizon CFO says over-the-top mobile different than OTT on TV
Verizon CFO Fran Shammo says mobile video viewers want different types, lengths of video content.
10:10 EDTVZVerizon CFO sees tablets as 'huge opportunity,' growth engine in next 2 years
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10:02 EDTVZVerizon CFO says company has always operated under open Internet policy
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November 11, 2014
07:24 EDTGOGOAT&T move will discourage others seeking in-flight Wi-Fi, says William Blair
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November 10, 2014
16:44 EDTVZOn The Fly: Closing Wrap
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15:55 EDTGOGOGogo continues to climb higher, levels to watch
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14:09 EDTVZBoehner strongly opposes net neutrality
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13:26 EDTVZCable providers fall after Obama weighs in on net neutrality
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13:14 EDTGOGOAT&T not entering Inflight Connectivity space, RGN reports
AT&T (T) decided not to enter the inflight connectivity after deeming the space too risky, RGN reports, citing sources. AT&T confirmed in a statement to the website, "After a thorough review of our investment portfolio, the company decided to no longer pursue entry into the Inflight Connectivity industry." AT&T's entrance into the space was seen as possibly competitive threat to Gogo (GOGO). Reference Link
12:24 EDTVZOn The Fly: Midday Wrap
Stocks on Wall Street were modestly higher at midday. The averages opened mixed, but very close to the flat line, and have continued to drift slowly higher from that point. There is little to stand in the way of the marketís drift, as the economic calendar is quiet, the earnings season is winding down, and the most closely watched geopolitical situations are currently status quo. ECONOMIC EVENTS: In the U.S., little of note was on the economic calendar. The Federal Reserve's newly introduced Labor Market Conditions Index was flat at 4 in October. The Fed started updating estimates of the LMCI every month beginning with last month. COMPANY NEWS: Shares of Netflix (NFLX) advanced about 1% after xxx President Barack Obama publicly urged the Federal Communications Commission to implement the "strongest possible rules" to protect net neutrality. In response, Verizon (VZ) said it supports the open Internet and continues to believe that the "light-touch regulatory approach in place for the past two decades has been central to the Internetís success," adding that it believes the reclassification Obama called for would "apply 1930s-era utility regulation to the Internet" and be a "radical reversal of course" that would threaten great harm to an open Internet, competition and innovation." A number of Internet Service Providers, including Comcast (CMCSA), Time Warner Cable (TWC), Charter (CHTR) and Cablevision (CVC), moved lower after Obama weighed in on the hot-button issue. MAJOR MOVERS: Among the notable gainers was Achillion Pharmaceuticals (ACHN), which rose 22% after the company presented data from the ongoing Phase 2 study of its Hepatitis C virus treatment at the Annual Meeting of the American Association for the Study of Liver Diseases, or AASLD. Also higher was Dean Foods (DF), which rose more than 13% after the dairy products distributorís third quarter results, as well as its fourth quarter and full year profit outlook, surpassed analystsí consensus estimates. Among the noteworthy losers was Rayonier (RYN), which dropped 13% after management determined that there was a material weakness in the company's internal controls, restated certain previously made financial statements, and cut its dividend reflecting expectations of reduced cash available for distribution due to lower expected annual harvest levels. INDEXES: Near midday, the Dow was up 18.55, or 0.11%, to 17,592.48, the Nasdaq was up 10.77, or 0.23%, to 4,643.30, and the S&P 500 was up 4.01, or 0.2%, to 2,035.93.
10:06 EDTVZVerizon says utility Internet regulation would 'threaten great harm'
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09:45 EDTVZObama urges FCC to enact 'strongest possible rules' to protect net neutrality
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09:43 EDTVZObama urges FCC to enact 'strongest possible rules' to protect net neutrality
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09:20 EDTGOGOOn The Fly: Pre-market Movers
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07:33 EDTGOGOGogo reports Q3-end Business Aviation with 2,637 ATG systems online
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07:32 EDTGOGOGogo reports Q3-end Commercial Aviation N America with 2,044 aircraft online
Average monthly service revenue per aircraft online increased to $10,134, up 22% from $8,338 in Q3 2013, driven by a 7% increase in take rate to 6.2% and an 8% increase in average revenue per session to $11.43 as a result of price increases and changes in product mix.
07:32 EDTGOGOGogo backs FY14 revenue $400M-$422M, conesnsus $407M
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07:31 EDTGOGOGogo reports Q3 EPS (29c), consensus (26c)
Reports Q3 revenue $104.04M, consensus $103.73M; Reports Q3 adjusted EBITDA $1.2M. Reports Q3 Service revenue up 28% to $81.6M.
07:11 EDTVZOpen Mobile Media to hold a summit
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