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Fly News Breaks for August 9, 2016
Aug 9, 2016 | 07:43 EDT
Citi analyst Kenneth Wong downgraded Fleetmatics (FLTX) to Neutral citing the pending takeover by Verizon (VZ). The analyst believes another takeover bid is "highly unlikely."
News For FLTX;VZ From the Last 2 Days
Oct 19, 2017 | 08:19 EDT
In Verizon's media business, Oath revenues were $2B in third-quarter, and the integration of AOL and Yahoo is ahead of internal expectations. In telematics, revenues were more than $220M in third-quarter 2017. Organic IoT revenues increased approximately 13% year over year.
Oct 19, 2017 | 07:35 EDT
Total wireline revenues increased 1.1 percent, to $7.7 billion, comparing third-quarter 2017 with third-quarter 2016. On an organic basis, excluding revenues from acquired operations (non-GAAP), total wireline revenues declined 2.7 percent year over year in third-quarter 2017, consistent with second-quarter 2017. Total Fios revenues grew 4.8 percent, and consumer Fios revenues grew 4.6 percent, comparing third-quarter 2017 with third-quarter 2016 and including the impact of two marquee pay-per-view events in the current quarter. Fios Gigabit Connection, which offers symmetrical high-speed broadband, continues to gain traction with customers. In third-quarter 2017, Verizon added a net of 66,000 Fios Internet connections and lost a net of 18,000 Fios Video connections, reflecting the ongoing shift from traditional linear video to over-the-top offerings. At the end of the quarter, Verizon had 5.8 million Fios Internet connections and 4.6 million Fios Video connections. Wireline operating income was $65 million in third-quarter 2017, compared with $73 million in third-quarter 2016. Segment operating income margin was 0.8 percent in third-quarter 2017. Segment EBITDA (non-GAAP) was $1.6 billion in third-quarter 2017. Segment EBITDA margin (non-GAAP) was 21.1 percent in third-quarter 2017, compared with 20.3 percent in third-quarter 2016. In the quarter, Verizon was named an Enterprise Infrastructure Solutions contract provider by the U.S. General Services Administration. Verizon Enterprise Solutions (VES) released its 2017 Payment Security Report, which demonstrated a link between payment card security standard compliance and an organization's ability to defend itself against cyberattacks. On the product front, Check Point Software Technologies Ltd. embedded its security offering within Verizon's Virtual Network Services (VNS) solution; VNS was made available on the Amazon Web Services cloud; and VES introduced mid-market and enterprise capabilities for its One Talk solution. In addition, Verizon announced plans to develop a dedicated network core for public safety.
Oct 19, 2017 | 07:34 EDT
Verizon reported a net increase of 603,000 retail postpaid connections in third-quarter 2017. Net phone additions of 274,000 included 486,000 smartphones in the quarter, compared with 242,000 smartphone additions in third-quarter 2016. The 603,000 postpaid net adds included tablet net adds of 91,000 and net adds of other connected devices, led by wearables, of 238,000. The company had 109.7 million retail postpaid connections and 5.6 million retail prepaid connections at the end of the quarter. Verizon added 30,000 postpaid accounts in third-quarter 2017, compared with a loss of 107,000 postpaid accounts in third-quarter 2016. Total retail postpaid churn was 0.97 percent in third-quarter 2017, driven mainly by retail postpaid phone churn of 0.75 percent - the 10th consecutive quarter of retail postpaid phone churn of less than 0.90 percent. Revenue trends are improving. Total revenues were $21.6 billion in third-quarter 2017, a decline of 2.4 percent compared with third-quarter 2016. A year ago, quarterly total revenues had declined 3.9 percent year over year. On a year-over-year basis, service revenues declined 5.1 percent versus a 6.7 percent decrease in the second quarter. Sequentially, service revenues increased for the first time in 12 quarters. The company expects its service revenue trend to continue to improve in fourth-quarter 2017, exiting the year with a year-over-year decline of less than 4 percent. Verizon now has approximately 78 percent of its postpaid phone base on unsubsidized service pricing plans, compared with 60 percent in third-quarter 2016. The percentage of phone activations on device payment plans was about 77 percent in third-quarter 2017, consistent with second-quarter 2017. Verizon expects a seasonal increase in this rate in fourth-quarter 2017. Approximately 49 percent of postpaid phone customers had a device payment plan at the end of third-quarter 2017, consistent with second-quarter 2017. Segment operating income in third-quarter 2017 was $7.6 billion, and segment operating income margin on total revenues was 35.2 percent. Segment EBITDA (non-GAAP) totaled nearly $10.0 billion in third-quarter 2017. Segment EBITDA margin on total revenues (non-GAAP) was 46.2 percent, compared with 44.9 percent in third-quarter 2016.
Oct 18, 2017 | 14:15 EDT
Notable companies reporting before tomorrow's open, with earnings consensus, include Verizon (VZ), consensus 98c... Philip Morris (PM), consensus $1.38... Danaher (DHR), consensus 95c... Bank of New York Mellon (BK), consensus 92c... Blackstone (BX), consensus 55c... BB&T (BBT), consensus 78c... Travelers (TRV), consensus 40c... PPG Industries (PPG), consensus $1.52... Rogers Communications (RCI), consensus 80c... Nucor (NUE), consensus 78c... Dover (DOV), consensus $1.12... Genuine Parts (GPC), consensus $1.29... Textron (TXT), consensus 62c... Quest Diagnostics (DGX), consensus $1.35... Alliance Data Systems (ADS), consensus $5.04.
Oct 18, 2017 | 13:15 EDT
Verizon (VZ) is scheduled to report quarterly results before the market opens on October 19, while AT&T (T) scheduled to report on October 24. Neither T-Mobile (TMUS), nor Sprint (S) have disclosed the dates for their respective quarterly results and earnings conference calls, as those releases should coincide with the announcement of their merger agreement, which is expected later this month. What to watch for: 1. OUTLOOK: When Verizon reported its second quarter results on July 27, it announced that it sees 2017 organic revenue "fairly consistent" with 2016, with improvement in wireless service revenue and equipment revenue trends. On October 11, AT&T reiterated its fiscal 2017 adjusted earnings growth guidance in the mid-single digits. The company also backed FY17 adjusted consolidated operating margin expansion, capital expenditures in the $22B range, and free cash flow at the low end of the $18B range. 2. T-MOBILE/SPRINT MERGER: On October 6, Bloomberg reported that Sprint and T-Mobile are working out the final details on a merger agreement, which should be announced at the end of the month. On October 13, Nikkei reported that the merger agreement could be announced soon, citing a broad pact reached with SoftBank (SFTBF), which owns 83% of Sprint. Nekkei added that Deutsche Telekom (DTEGY) owns 64% of T-Mobile. On October 16, Reuters reported that, according to people familiar with the matter, the companies plan to announce the merger without any immediate asset divestitures in order to preserve their spectrum holdings. 3. PIXEL 2: During the Made by Google conference on October 4, Google (GOOG, GOOGL) announced that Verizon will be the exclusive wireless partner for the Pixel 2 and Pixel 2 XL. Not willing to concede that exclusivity to Verizon, T-Mobile announced the "Unleash your Pixel 2" campaign, offering to pay up to half of the purchase price of a Pixel 2/Pixel 2 XL if customers bring their new Google handset to T-Mobile and get a new voice line. 4. AIM SAYS "GOODBYE": On October 6, Oath, a Verizon company, announced that AOL's Instant Messenger will be discontinued on December 15.
Oct 17, 2017 | 07:46 EDT
Despite an agreement last year between the FCC and Verizon (VZ), where the company agreed to stop tracking customers without their permission, Philip Neustrom, the co-founder of Shotwell Labs, found that the practices may still be in affect and AT&T (T) may be participating in a similar practice, reports Android Authority, citing Neustrom. Reference Link
Oct 17, 2017 | 07:25 EDT
Verizon FiOS has stopped carrying Spanish-language broadcaster Univision in roughly 5M homes without warning after the parties were unable to agree on terms for a new distribution deal, the Wall Street Journal reports, citing Univision. The companies had previously extended their contract amid negotiations, in which Univision was asking for an increase "of more than double what they charge for access to their channels today," a Verizon FiOS spokesman said. Reference Link
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