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November 8, 2012
07:28 EDTWINWindstream reports Q3 adjusted EPS 12c, consensus 13c
Reports Q3 revenue $1.55B, consensus $1.54B
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July 30, 2014
07:23 EDTWINWindstream upgraded to Neutral from Sell at UBS
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05:42 EDTWINWindstream downgraded to Market Perform from Outperform at Raymond James
Raymond James downgraded Windstream to Market Perform saying the company's REIT structure is priced into shares after yesterday's rally.
July 29, 2014
17:06 EDTWINOn The Fly: Closing Wrap
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13:39 EDTWINVerizon previously looked at potential REIT, says Raymond James
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12:47 EDTWINCable REIT conversions possible but unlikely, says Wells Fargo
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12:23 EDTWINWindstream REIT spin off plan provides jolt for stock, telecom sector
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12:13 EDTWINOn The Fly: Midday Wrap
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11:36 EDTWINWindstream REIT benefits offset by dividend cut, CapEx hike, says Morgan Stanley
Morgan Stanley said Windstream's REIT spin off plans address the firm's concerns about the company's broadband investments and leverage, but that there are still "a lot of unanswered questions" regarding the plan and its implications. Morgan Stanley notes that the IRS ruling for Windstream potentially opens up similar transactions across the Telecom sector, but the firm cautions that this ruling could reopen the political debate on REIT exemptions, especially if bigger companies begin to explore them. The firm maintains its Underweight rating on Windstream.
11:35 EDTWINAT&T and Verizon unlikely to consider a stucture like Windstream, says UBS
UBS said large telcos such as AT&T (T) and Verizon (VZ) are unlikely to consider a structural separation, such as Winsteam's (WIN). as they would be forced to open up their networks to competitors at regulated rates.
09:27 EDTWINWindstream REIT move 'elegant way' to cut dividend, says Jefferies
Jefferies views Windstream's plans to spin off its network assets into a publicly traded REIT as an "elegant way" to cut its dividend. The firm notes the new entity's pro forma 70c per share dividend is 30% lower than Windstream's current $1.00 policy. Jefferies believes today's news does not change Windstream's fundamentals and calls into question the stock’s valuation as the company becomes a non-facilities based provider. It keeps an Underperform rating on Windstream with a $6 price target. Shares of Windstream are up 27% in pre-market trading to $13.39.
09:22 EDTWINWindstream worth at least $15/share after spinoff news, says Oppenheimer
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09:17 EDTWINOn The Fly: Pre-market Movers
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09:00 EDTWINAT&T, Verizon rally after Windstream announces plans for REIT
Shares of AT&T (T) and Verizon (VZ) are trading higher in the pre-market following news that Windstream (WIN) plans to spin off its telecom assets into a publicly traded REIT. Windstream provides network communications to businesses nationwide. It said the tax-free spinoff will enable it to realize "significant financial flexibility by lowering debt by approximately $3.2 billion and increasing free cash flow to accelerate broadband investments, transition faster to an IP network and pursue additional growth opportunities to better serve customers." The news is also pushing shares of CenturyLink (CTL) and Frontier Communications (FTR) higher. Windstream is rallying 28% in pre-open trading, while AT&T is up 4% and Verizon is up 3%.
08:48 EDTWINFrontier, CenturyLink rally after Windstream announces spinoff
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08:44 EDTWINWindstream volatility expected to move on spin off of assets into REIT
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07:39 EDTWINWindstream expects 70c annual dividend following spinoff
Windstream said it plans to maintain its current dividend practice through the close of the transaction. Following the spinoff, the expected annual dividend per share in the aggregate for the two companies will be 70c per current Windstream share, with Windstream expected to pay an annual dividend of 10c, while the REIT will have an annual dividend equivalent to 60c. The company currently pays $1.00 per share in annual dividends.
07:38 EDTWINWindstream sees REIT spin-off to occur in first quarter 2015
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07:36 EDTWINWindstream to host conference call
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07:14 EDTWINWindstream to spin off assets into publicly traded REIT
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July 28, 2014
10:31 EDTWINWindstream unit signs agreement with Target Distributing
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