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Stock Market & Financial Investment News

News For VZ;T From The Last 14 Days
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January 26, 2015
19:48 EDTVZVerizon to pay $5M to settle FCC investigation into customer complaints
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13:40 EDTTEarnings Preview: AT&T sees $10B Q4 charge for pension benefits, network assets
AT&T (T) is expected to report fourth quarter earnings after the market close on Tuesday, January 27, with a conference call scheduled for 4:30 pm ET. AT&T is a global telecommunications company offering wireless and long distance services. EXPECTATIONS: Analysts are looking for earnings per share of 55c on revenue of $34.24B, according to First Call. The consensus range for EPS is 47c-61c on revenue of $33.14B-$35.26B. LAST QUARTER: AT&T reported third quarter adjusted EPS of 63c against estimates for 64c on revenue of $33B against estimates for $33.24B. For Q3, the company reported: Postpaid net adds of 785,000, more than double the year-ago quarter; More than 2.4M postpaid net adds year to date; Best-ever third-quarter postpaid churn of 0.99%; Wireless revenues up 4.9% versus the year-ago quarter; Wireless data billings up nearly 24% versus the year-earlier quarter; Nearly 1.2M new postpaid smartphones added; Smartphones accounted for 91% of postpaid phone sales. AT&T also lowered its FY14 revenue growth view to 3%-4% from the 5% range, versus consensus of $133.08B. On November 7, AT&T entered into an agreement with Grupo Salinas to acquire Mexican wireless company Iusacell for $2.5B. It also forecast its FY15 Capex budget in the $18B range, down from $21B in FY14. On January 16, AT&T announced that for Q4, it expects to record a $10B charge related to pension benefits and network assets. STREET RESEARCH: Street research has been cautious in the weeks leading up to AT&T's Q4 earnings report. On December 10, Wells Fargo lowered its price target on AT&T to $36-$38 from $42-$44 after the company reported that competition was pressuring its margins. The firm also reduced its estimates to reflect the company's comments and its own checks. Wells expects the sequential improvement in AT&T's net adds will be limited, while iPhone upgrades will pressure its margins, but kept an Outperform rating on the shares. On the same day, Citigroup said AT&T shares have near-term downside risk to $30. Citigroup said the wireless competitive environment is weighing on AT&Tís Q4 operating results after management spoke at an investor conference. It lowered its price target for AT&T to $33 from $34 and kept a Neutral rating on the name. PRICE ACTION: AT&Tís shares are essentially flat since the company's Q3 report, as well as over the past 12 months. In afternoon trading ahead of tomorrowís Q4 report, AT&Tís shares are down 0.5%.
06:31 EDTVZ, TCablevision to launch cheap mobile phone service, NY Times says
Cablevision (CVC) intends to unveil later today a cheap, Wi-Fi based mobile phone service, according to The New York Times. The first service of its kind to be introduced by a cable company, the offering will include unlimited data, talking and texting worldwide for $29.95 a month, or $9.95 a month for Cablevisionís Optimum Online customers, the newspaper stated. Incumbent wireless carriers include Verizon (VZ), AT&T (T), T-Mobile (TMUS), and Sprint ()S). Reference Link
06:31 EDTTAT&T to acquire Nextel Mexico for $1.88B, less outstanding net debt
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January 22, 2015
19:40 EDTT, VZGoogle's entrance into telecommunications may not be beneficial, Re/code says
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13:15 EDTTAT&T to review name of DirecTV unit, WSJ reports
AT&T (T) CEO Randall Stephenson said in an interview at the World Economic Forum in Davos that the company will review the name of its DirecTV (DTV) unit, The Wall Street Journal reports. Stephenson also noted that the $48.5B acquisition, which must be approved by regulators, will give AT&T a "differentiated offering" in trying to win customers. Reference Link
10:20 EDTVZVerizon trades lower after results, levels to watch
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09:11 EDTVZVerizon reports 15M connections of Internet of Things
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09:06 EDTVZVerizon expects to further penetrate into FiOS network, others in 2015
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09:01 EDTTAT&T says enters into $9.2B credit agreement
AT&T said in a filing that on January 21, AT&T entered into a $9.155B credit agreement containing a (i) $6.286B term loan facility and a (ii) $2.869B term loan facility, with certain investment and commercial banks and Mizuho Bank, Ltd., as administrative agent. AT&T also entered into a $2B 18-month credit agreement with Mizuho as initial lender and agent. In the event advances are made under either agreement, those advances would be used for general corporate purposes, including acquisition related payments. Amounts borrowed under the Tranche A Facility will be due and payable on the third anniversary of funding. Amounts borrowed under the Tranche B Facility will be subject to amortization from the third anniversary of funding, with twenty-five percent of the aggregate principal amount thereof being payable prior to the fifth anniversary thereof, and all remaining principal amount due and payable on such fifth anniversary. Amounts borrowed under the 18-Month Credit Agreement will be due and payable on the date that is 18 months after the funding.
07:43 EDTVZVerizon reports Q4 FiOS consumer revenue growth of 11.1%
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07:14 EDTVZVerizon reports Q4 retail postpaid ARPA up 1%
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07:05 EDTVZVerizon sees FY15 revenue growth of at least 4%, consensus $129.78B
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07:03 EDTVZVerizon reports Q4 adjusted EPS 71c, consensus 72c
Reports Q4 revenue $33.19B, consensus $32.69B. In Wireless, reports 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, reports 4.1% year-over-year quarterly increase in consumer revenues.
05:47 EDTTStocks with implied volatility movement; BSX T
Stocks with implied volatility movement; Boston Scientific (BSX) 49, AT&T (T) 20 according to iVolatility.
05:24 EDTTAT&T, Smiths Group extend relationship for six more years
Smiths Group has refreshed its ongoing relationship with AT&T for six more years. Valued at more than $100M, the agreement brings all of Smiths Group's communications services under one roof. The company can now securely connect its 23,000 employees across 450 offices in more than 50 countries.
January 21, 2015
16:28 EDTVZ, TGoogle to launch phone service with Sprint, T-Mobile, The Information says
Google (GOOG, GOOGL) is expected to reach deals to buy wholesale access to Sprint (S) and T-Mobileís (TMUS) voice and data networks in order to sell mobile phone plans directly to customers, according to The Information, citing three people with knowledge of the plans. Google, which may put itself into competition with carrier leaders Verizon (VZ) and AT&T (T) with the new service, "seems likely" to launch the offering this year, according to the report. Reference Link
15:27 EDTVZNotable companies reporting before tomorrow's open
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13:25 EDTT, VZEarnings Preview: Verizon sees promotional offers pressuring Q4 results
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12:24 EDTT, VZOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, as details of a reported bond buying program planned by the ECB offset weakness in the Dow after IBM's (IBM) earnings report. ECONOMIC EVENTS: In the U.S., housing starts rose 4.4% in December to a 1.89M rate, versus expectations for an increase of 1.2%, while building permits fell 1.9% to a rate of 1.03M, versus expectations of an increase of 0.8%. The Bank of Canada lowered its target for the overnight rate by one-quarter of one percentage point to 0.75% in response to the recent sharp drop in oil prices, which it said will be negative for growth and underlying inflation in Canada. Reports indicated that a proposal from the European Central Bankís executive board is calling for it to begin making bond purchases of about EUR 50B per month and continue that easing program for at least one year. In Asia, the Bank of Japan refrained from expanding its stimulus program, although it expanded and extended its loan programs aimed at boosting bank lending. Also, the BoJ cut next fiscal year's CPI forecast to 1.0% from the 1.7% it had projected three months ago. COMPANY NEWS: Last night, IBM reported better than expected Q4 earnings, though its revenue and FY15 profit outlook trailed estimates, sending the stock down over 3% this morning. Citigroup cut its price target for IBM shares to $170 from $180 after reducing its sales and earnings estimates following the tech giant's Q4 results. Citi reiterated a Neutral rating on IBM, saying it wants to see stability in fundamentals and free cash flow growth before getting more positive on the name. Meanwhile, Jefferies said IBM's cash flow guidance for 2015 is "very weak" and that the company has yet to reach a bottom. The firm continues to believe the risk/reward for shares is skewed negatively and it kept an Underperform on IBM with a $130 price target following the company's Q4 results... Netflix (NFLX) jumped 17% to trade near $409 per share after the company reported stronger than expected fourth quarter results and a number of research firms raised their price targets for the stock while pointing out the company's global subscriber growth had exceeded expectations. Bucking the trend, FBR Capital analyst Barton Crockett said Netflix's EPS would only have been in-line with the consensus outlook if non-operating items were excluded. He said he is less impressed with Netflix following its report and trimmed his price target on the stock to $400 from $425 while keeping a Neutral rating on the shares. MAJOR MOVERS: Among the notable gainers following their earnings reports were Northern Trust (NTRS), which rose 6%, and U.S. Bancorp (USB), which gained 3.5%. Among the noteworthy losers was Eldorado Gold (EGO), which dropped 19% after the company reported on its 2014 gold production, gave guidance on production in 2015, and its shares were downgraded at Credit Suisse, TD Securities and Canccord. Also lower was Acacia Research (ACTG), which fell more than 14% after a court granted a motion finding no infringement of certain method claims asserted by the company's Adaptix subsidiary against Apple(AAPL), Verizon (VZ), AT&T (T), and HTC. INDEXES: Near midday, the Dow was up 42.03, or 0.24%, to 17,557.26, the Nasdaq was up 27.36, or 0.59%, to 4,682.21, and the S&P 500 was up 12.25, or 0.61%, to 2,034.80.
10:29 EDTT, VZAcacia Research down almost 13% after patent ruling
Earlier today, Acacia Research (ACTG) announced its CEO and President Matt Vella will discuss the January 20th, 2015 ruling received by Adaptix, , a subsidiary of Acacia Research, relating to patent cases pending in the District Court for the Northern District of California. The Courtís ruling granted a motion finding no infringement of certain method claims asserted by Adaptix against Apple(AAPL), Verizon (VZ), AT&T (T), and HTC. Shares of Acacia Research are lower by almost 13% to $13.90 in morning trading.
10:13 EDTVZVerizon January weekly volatility elevated into Q4 and outlook
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10:01 EDTVZOn The Fly: Analyst Downgrade Summary
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08:31 EDTTAT&T CEO says net neutrality may end up in Supreme Court, CNBC says
AT&T (T) Chairman and CEO Randall Stephenson believes the net neutrality debate may have to be settled by the Supreme Court, reports CNBC, citing a CNBC interview on Wednesday from the World Economic Forum in Davos. Stephenson stated, "We need a neutral Internet... I think everyone agrees with that. Where everyone is getting stuck now is going beyond that." Stephenson also stated the neutrality debate will not affect his company's decision to bid $49B for DirecTV (DTV), though he believes a quick decision from the FCC could quicken Comcast's (CMCSA, CMCSK) $45B negotiations for Time Warner Cable (TWC). Reference Link
05:56 EDTVZVerizon downgraded to Equal Weight from Overweight at Barclays
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January 20, 2015
09:38 EDTVZActive equity options trading
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06:24 EDTT, VZT-Mobile warns of unsustainable costs against cellphone giants, Re/code says
T-Mobile (TMUS) owner Deutsche Telekom (DTEGY) claims Verizon (VZ) and AT&T's (T) wealth makes true competition difficult, reports Re/code, citing statements made at Germany's DLD conference. Deutsche Telekom CEO Tim Hoettges stated the dominance of AT&T and Verizon allowed them to make huge bids at the latest midband spectrum auction to further their market lead. Hoettges also stated he was "intrigued" by last year's unsuccessful merger talks with Sprint (S), and warned that T-Mobile's $4B-$5B investment requirements per year are unsustainable. Reference Link
January 18, 2015
13:45 EDTT, VZGoogle in talks to acquire mobile-pay platform Softcard, WSJ says
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January 16, 2015
18:07 EDTVZ, TCongressional GOP unveil net neutrality law to bypass FCC, LA Times reports
Representatives Fred Upton of Michigan and John Thune of South Dakota endorsed a congressional bill that would protect net-neutrality by banning internet service providers from charging companies extra to load their sites, and prohibit broadband companies from blocking legitimate websites, or slowing speeds for customers, superseding the FCC's authority to regulate the internet, according to the LA Times. Major internet companies such as AT&T (T) , Comcast (CMCSA), and Verizon Communications (VZ) have opposed a recent recommendation by FCC Chairman Thomas Wheeler to treat internet service similar to a utility. Reference Link
17:25 EDTTAT&T reports Q4 $10B charge related to pension benefits and network assets
For the quarter ended December 31, AT&T expects to record a noncash, pre-tax loss of approximately $7.9B related to actuarial gains and losses on pension and postemployment benefit plans. At December 31, the company decreased its assumed discount rates used to measure the pension obligation to 4.3% and to 4.2% for the company's postretirement obligation. These reductions resulted in an actuarial loss of approximately $7.9B. Also contributing to the amount were losses due to updated mortality assumptions offset by asset gains in excess of its assumed rate of return as well as demographic changes and other assumptions. Actuarial gains and losses are managed on a total company basis and are, accordingly, reflected only in consolidated results. Therefore, this loss will not affect segment operating results or margins. The company's Q4 operating results will also include a $2.1B noncash charge for the abandonment in place of certain network assets. During Q4, the company performed an analysis of its network assets and determined that specific copper assets will not be necessary to support future network activity, due to declining customer demand for AT&T's legacy voice and data products and the migration of its networks to next generation technology. This decision by management will not be considered in the company's assessment of segment performance and therefore, this charge will be reflected only in consolidated results and will not affect segment operating results or margins.
16:00 EDTVZOptions Update; January 16, 2015
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January 15, 2015
09:36 EDTVZActive equity options trading
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06:27 EDTT, VZIntel to partner with more IT players for Internet of Things, DigiTimes reports
Intel (INTC) is preparing to team up with more IT firms such as AT&T (T), Verizon (VZ), Cisco (CSCO), SAP (SAP), and Microsoft (MSFT) in order to expand the Internet of Things industry in 2015, reports DigiTimes. According to sources from the upstream supply chain, Intel has been playing an active role in helping Taiwan build its smart city infrastructure and has also cooperated with Chunghwa Telecom to develop the IoT and cloud computing applications. Reference Link
January 14, 2015
10:00 EDTVZOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ACE Limited (ACE) downgraded to Neutral from Outperform at Macquarie... AXIS Capital (AXS) downgraded to Neutral from Outperform at Macquarie... Allstate (ALL) downgraded to Underperform from Neutral at Macquarie... Altera (ALTR) downgraded to Neutral from Overweight at JPMorgan... American Midstream Partners (AMID) downgraded to Neutral from Buy at BofA/Merrill... Argo Group (AGII) downgraded to Underperform from Neutral at Macquarie... Aspen Insurance (AHL) downgraded to Underperform from Neutral at Macquarie... Beneficial Bancorp (BNCL) downgraded to Neutral at Boenning & Scattergood... CDW Corporation (CDW) downgraded to Neutral from Buy at Goldman... CHC Group (HELI) downgraded at Raymond James... CIRCOR (CIR) downgraded to Hold from Buy at Stifel... Chesapeake (CHK) downgraded to Underweight from Equal Weight at Barclays... Commerzbank (CRZBY) downgraded to Sell from Neutral at Goldman... Continental Resources (CLR) downgraded to Equal Weight from Overweight at Barclays... Corporate Office Properties (OFC) downgraded to Market Perform at Wells Fargo... Credit Suisse (CS) downgraded to Neutral from Overweight at HSBC... Datawatch (DWCH) downgraded to Hold at Canaccord... Devon Energy (DVN) downgraded to Equal Weight from Overweight at Barclays... Dollar Tree (DLTR) downgraded to Neutral from Buy at Northcoast... Douglas Emmett (DEI) downgraded to Neutral from Buy at Mizuho... Dresser-Rand (DRC) downgraded to Underperform from Market Perform at Raymond James... Enable Midstream (ENBL) downgraded to Underperform from Neutral at BofA/Merrill... F5 Networks (FFIV) downgraded to Equal Weight from Overweight at Barclays... First Majestic (AG) downgraded to Sector Perform from Outperform at Scotia Capital... Foot Locker (FL) downgraded to Sell from Neutral at Goldman... Franklin Resources (BEN) downgraded to Neutral from Buy at Goldman... HCP (HCP) downgraded to Market Perform from Outperform at Wells Fargo... Halcon Resources (HK) downgraded to Underweight from Equal Weight at Barclays... Insulet (PODD) downgraded at Sterne Agee... J.B. Hunt (JBHT) downgraded to Market Perform from Outperform at Avondale... JPMorgan (JPM) downgraded to Underweight from Neutral at HSBC... KB Home (KBH) downgraded to Neutral from Outperform at Credit Suisse... Kosmos (KOS) downgraded to Equal Weight from Overweight at Barclays... Marathon Oil (MRO) downgraded to Equal Weight from Overweight at Barclays... Medley Management (MDLY) downgraded to Market Perform at Keefe Bruyette... MoneyGram (MGI) downgraded to Underperform from Neutral at BofA/Merrill... NPS Pharmaceuticals (NPSP) downgraded to Neutral from Overweight at JPMorgan... National Grid (NGG) downgraded to Underperform from Neutral at Credit Suisse... Navigators (NAVG) downgraded to Underperform from Neutral at Macquarie... Pioneer Energy (PES) downgraded at Raymond James... RSP Permian (RSPP) downgraded to Equal Weight from Overweight at Barclays... Rambus (RMBS) downgraded to Neutral from Overweight at JPMorgan... Realty Income (O) downgraded to Market Perform from Outperform at Wells Fargo... Red Hat (RHT) downgraded to Sell from Neutral at Goldman... Resolute Energy (REN) downgraded to Underweight from Equal Weight at Barclays... Ross Stores (ROST) downgraded to Neutral at UBS... SandRidge Energy (SD) downgraded to Underweight from Equal Weight at Barclays... Tech Data (TECD) downgraded to Sell from Neutral at Goldman... Teekay Offshore Partners (TOO) downgraded to Neutral from Buy at BofA/Merrill... Travelers (TRV) downgraded to Underperform from Neutral at Macquarie... TrueCar (TRUE) downgraded to Market Perform at Cowen... Valspar (VAL) downgraded to Neutral from Outperform at RW Baird... Verizon (VZ) downgraded at Evercore ISI... Viacom (VIAB) downgraded to Sell from Buy at Citigroup... W. R. Berkley (WRB) downgraded to Underperform from Neutral at Macquarie... Waddell & Reed (WDR) downgraded to Neutral from Buy at Goldman... Western Union (WU) downgraded to Underperform from Neutral at BofA/Merrill... Whiting Petroleum (WLL) downgraded to Equal Weight from Overweight at Barclays... Whole Foods (WFM) downgraded to Hold from Buy at Argus... Xilinx (XLNX) downgraded to Neutral from Overweight at JPMorgan... iRobot (IRBT) downgraded to Underweight from Neutral at JPMorgan.
08:22 EDTTMKM Partners unable to recommend ADTRAN until clarity on AT&T timing
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07:34 EDTVZVerizon downgraded at Evercore ISI
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07:14 EDTVZSynacor, Verizon FiOS expand partnership
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06:53 EDTVZVerizon downgraded to Hold from Buy at Evercore ISI
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