JPMorgan analyst Sterling Auty views Rovi's (ROVI) contract renewal with Verizon (VZ) as significant. Management stated they would complete the deal in the second half of the year, and the agreement coming only four days into the second half shows their ability to execute, Auty tells investors in a research note. Investors should now have increased confidence that management will be able to complete the DISH (DISH) renewal in a timely manner, the analyst adds. Auty has an Overweight rating on Rovi.

Ribbon Communications (RRBN) announced plans for a major network modernization program with Verizon (VZ) to retire legacy TDM switching platforms and replace their function with modern cloud-based technologies. Verizon is leveraging Ribbon's portfolio of Voice Products including the vC20 Call Controller, G5 Line Access Gateway, G6 Universal Media Gateway, virtual and Cloud-native Session Border Controllers, and other products which allows for the consolidation and replacement of equipment with energy efficient, software-centric platforms while maintaining full feature functionality.

Wells Fargo lowered the firm's price target on Verizon to $40 from $44 and keeps an Equal Weight rating on the shares. The firm sees encouraging signs in Q1 - improvement in sub trends and limited churn from price-ups - offset by some softness in the business segment and prepaid. Wells would get more constructive when there's visibility on a sustainable improvement in sub trends.