Verizon sees newer fees adding $100M a month to revenue 09:5405/2405/24/22
Verizon CFO: Competition, inflation 'temper' expectations for consumer volumes » 09:5405/2405/24/22
Competition, inflation "temper" the company's expectations for consumer volumes in Q2, CFO Matt Ellis said at the JPMorgan Global Technology, Media and Communications Conference 2022.
Unusually active option classes on open May 24th » 09:4005/2405/24/22
BBY, MMAT, PBR, VZ, FB, DAL, DKNG
Unusual total active…
Unusual total active option classes on open include: Best Buy (BBY), Meta Materials (MMAT), Petrobras (PBR), Verizon (VZ), Facebook (FB), Delta Air Lines (DAL), and DraftKings (DKNG).
Verizon reports 5G Ultra Wideband at Indianapolis Motor Speedway » 09:0805/2405/24/22
The 106th Indianapolis…
The 106th Indianapolis 500 takes place at the iconic Indianapolis Motor Speedway, the largest sports venue with Verizon 5G Ultra Wideband, on Sunday, May 29 at 12:45 pm ET. For the more than 300,000 people expected to attend, Verizon 5G Ultra Wideband will power a transformative experience in and around the Racing Capital of the World. For fans at IMS with a 5G-capable device, Verizon 5G Multi-View will offer them up to seven unique, live camera angles in high definition including the live NBC broadcast. They get to pick their best view of the action, so they can all have the best seat in the house. "With 5G Ultra Wideband's massive capacity, low latency and super-fast speeds, we're giving racing fans new immersive experiences that will let them personalize how they're watching the race whether they're at the track or at home," said Srini Kalapala, Senior Vice President of Verizon Technology and Product Development. "Verizon 5G Ultra Wideband has the area covered so attendees can stream, tweet, and share their experiences quickly and reliably. In fact, in all of Indianapolis, 52 percent of Verizon's network traffic is on 5G Ultra Wideband."
Southwest management to meet virtually with Oppenheimer » 04:5505/2405/24/22
Virtual Meeting to be…
Virtual Meeting to be held on May 24 hosted by Oppenheimer.
AT&T on track with transformation program goal to reduce costs by $1B this year » 20:4505/2305/23/22
AT&T CEO John Stanke…
AT&T CEO John Stanke "spoke today at the J.P. Morgan Global Technology, Media & Communications Conference where he provided an update to shareholders. Stankey reiterated AT&T's disciplined growth and investment strategy and made the following points: The company continues to grow customer relationships across wireless and fiber and feels good about the momentum it's experiencing on the back of its consistent simplified go-to-market strategy. Overall mobile demand remains healthy, and AT&T continues to find success in the marketplace. While the company retains its view that 2022 postpaid wireless demand is unlikely to repeat 2021 levels, Stankey indicated the company is not seeing signs of any near-term step down in demand levels. AT&T's fiber build momentum continues. Stankey indicated that the combination of AT&T's high-quality differentiated product, simplified pricing and an improved go-to-market strategy continue to support strong adoption levels and improved penetration rates. Stankey indicated that the company continues to work diligently with state and local government municipalities across the country to successfully participate in the Affordable Connectivity Program by providing affordable broadband connectivity to low-income customers. This program aligns with AT&T's 3-year, $2-billion commitment to help close the digital divide. Over time, the company also believes these efforts can help provide internet for all as well as expand the total addressable market for broadband access. AT&T remains comfortable in its ability to manage inflationary pressures impacting the economy. The company recently introduced careful and deliberate price increases for select legacy wireless plans, providing an opportunity for customers to move to AT&T's best unlimited plans which offer more features and a better value dynamic for customers. The company also remains on track with its cost transformation program as it looks to deliver its stated goal of an incremental $1 billion of cost reduction this year."
United Continental call volume above normal and directionally bullish » 13:0505/2005/20/22
Bullish option flow…
Bullish option flow detected in United Continental with 36,070 calls trading, 1.0x expected, and implied vol increasing almost 2 points to 60.23%. Jun-22 52.5 calls and 5/27 weekly 46 calls are the most active options, with total volume in those strikes near 8,800 contracts. The Put/Call Ratio is 0.44. Earnings are expected on July 20th.
American Airlines call volume above normal and directionally bullish » 12:4505/2005/20/22
Bullish option flow…
Bullish option flow detected in American Airlines with 54,523 calls trading, 1.0x expected, and implied vol increasing almost 2 points to 62.66%. Jun-22 18 calls and May-22 18 calls are the most active options, with total volume in those strikes near 14,700 contracts. The Put/Call Ratio is 0.61. Earnings are expected on July 21st.
Spirit Airlines urges stockholders to reject JetBlue tender offer » 06:5205/1905/19/22
SAVE, JBLU, AAL, ULCC
Spirit Airlines (SAVE)…
Spirit Airlines (SAVE) announced that its board of directors, after consultation with its outside financial and legal advisors, has unanimously determined that the unsolicited tender offer from JetBlue (JBLU) to acquire all outstanding shares of Spirit's common stock for $30 per share in cash is not in the best interests of Spirit and its stockholders. In its analysis, the board determined that the JetBlue transaction faces substantial regulatory hurdles, especially while the Northeast Alliance, or NEA, with American Airlines (AAL) remains in effect, and is, as a result, not reasonably capable of being consummated and is not superior to Spirit's agreed merger transaction with Frontier (ULCC). Accordingly, the Spirit Board unanimously recommends that Spirit stockholders not tender any of their shares into the offer and continues to recommend that stockholders vote for the merger agreement with Frontier. "JetBlue's tender offer has not addressed the core issue of the significant completion risk and insufficient protections for Spirit stockholders," said Mac Gardner, chairman of the board of directors for Spirit Airlines. "Based on our own research and the advice of antitrust and economic experts, our view is that the proposed combination of JetBlue and Spirit lacks any realistic likelihood of obtaining regulatory approval, while our company faces a long and bleak limbo period as we await resolution. In that scenario, a $1.83 per share reverse break-up fee will not come close to adequately compensating Spirit stockholders for the significant business disruption Spirit will face during what JetBlue acknowledges will be a protracted regulatory process. Our pending merger with Frontier is advancing as planned, and we continue to recommend that Spirit stockholders vote for the merger with Frontier on June 10th, as we believe the combination of these two ULCCs is the best way to deliver maximum value to Spirit stockholders."
Dish enters deal to sell AT&T Internet services » 18:2105/1805/18/22
AT&T (T) and DISH…
AT&T (T) and DISH (DISH) have entered into a distribution agreement that will allow DISH to offer AT&T Internet services, including AT&T Fiber with Hyper-Gig speeds, to prospective, new and existing DISH customers starting today. Reference Link