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Verizon lifts annual forecasts as new mobile plans spur subscriber gains
Reuters22d agoneutral
Verizon lifts annual forecasts as new mobile plans spur subscriber gains

Verizon raised its annual forecast for adjusted profit and free cash flow, as the network provider's latest unlimited 5G ‌plans and rewards programs helped it add more wireless subscribers ‌than expected in the June quarter. The company is in the midst of a strategic transition under new CEO Dan Schulman, rolling out simplified mobile plans, a new loyalty program and bundled wireless-broadband offerings to improve customer additions after trailing rivals in subscriber growth. Verizon gained ‌184,000 monthly-bill paying wireless ⁠subscribers in the second quarter, surpassing estimates of 103,900 additions by analysts polled by FactSet.

New Home Sales: What to Watch Friday
The Wall Street Journal22d agoneutral
New Home Sales: What to Watch Friday

Today Earnings: American Express, Verizon, Charter Communications, HCA Healthcare, Volkswagen, Canadian National Railway Economic data: Commerce Department data on new home sales for June, S&P flash U.

Verizon Earnings Will Put Cost Cuts and SpaceX Fears Under the Microscope
Barrons.com23d agoneutral
Verizon Earnings Will Put Cost Cuts and SpaceX Fears Under the Microscope

Verizon is set to round out the Big Three telecommunications companies reporting earnings this week, and its cost-cutting push is likely to come into focus alongside potential competition risks from SpaceX. Rivals AT&T and T-Mobile reported earlier this week, with both beating on earnings but missing on revenue. As Verizon stock has outperformed both this year, the company likely faces a higher bar when it reports before the open Friday.

T-Mobile Stock Falls. What’s Overshadowing Earnings Beat.
Barrons.com23d agoneutral
T-Mobile Stock Falls. What’s Overshadowing Earnings Beat.

T-Mobile US stock was sliding on Thursday after the wireless carrier reported softer-than-expected second-quarter revenue, overshadowing an earnings beat. T-Mobile reported adjusted earnings of $2.99, as revenue climbed 7.9% from a year ago to $22.8 billion. T-Mobile also said it now expects full-year adjusted free cash flow of between $18.4 billion and $18.8 billion, up from prior guidance of $18.1 billion to $18.7 billion.

Bloomberg24d agoneutral
AT&T Reports Greater-than-Expected Mobile Subscriber Gains

(Bloomberg) -- AT&T Inc. added more monthly wireless phone subscribers than analysts expected in the second quarter, a bright spot for the carrier in a period that had investors spooked by potential competitive threats.Most Read from BloombergTrump’s 100% Generic Drug Duty Threatens US Low-Cost SupplyApple to Launch ‘Upgrade’ Device Leasing Program With Klarna to Spur SalesTrump Extends Pardons to Companies, Echoing a 17th Century KingSpaceX Set to Unlock $116 Billion in Shares After IPO Restric

Is Passive Investing Sabotaging Fund Managers?
The Wall Street Journal26d agoneutral
Is Passive Investing Sabotaging Fund Managers?

Mutual-fund managers can’t catch a break, and maybe they never will. Hedge-fund manager David Einhorn  caused a stir two years ago when he called markets “fundamentally broken.” Money regularly comes out of paychecks and pours into index funds tracking the S&P 500, buying stocks with no regard to value—only their weighting.

Verizon shifts gears as customers continue to leave
TheStreet28d agoneutral
Verizon shifts gears as customers continue to leave

Verizon has struggled to slow customer losses in its wireless business in recent years, and under new leadership, it is making major workforce changes. Dan Schulman, who became CEO of Verizon in October last year, has accelerated efforts to transform the company after it lost about 2.25 million ...

Verizon lands significant new deal with auto giant
TheStreet36d agoneutral
Verizon lands significant new deal with auto giant

Verizon has spent years arguing that its network quality is the one thing competitors cannot replicate. On July 9, it found another place to prove that point. BMW is giving it the keys, figuratively, to the connectivity layer running inside every new BMW, MINI, and BMW Group vehicle sold in the ...

SpaceX is Having A Rough Week in the Bond Market Too
The Wall Street Journal37d agoneutral
SpaceX is Having A Rough Week in the Bond Market Too

SpaceX bond spreads widened relative to Treasurys for the fourth trading day in a row Thursday, according to MarketAxess. SpaceX sold the $25 billion worth of debt due in 2036 at a 1.4 percentage point spread to Treasurys shortly after the rocket maker went public in June. The securities are now yielding 1.7 percentage points more than Treasury bonds.

National wireless carrier closing after Chapter 11
TheStreet41d agoneutral
National wireless carrier closing after Chapter 11

Building a nationwide wireless network has long been one of the most expensive challenges in telecommunications. That's why three national carriers have effectively dominated the U.S., despite repeated efforts to create more competition. That's a space Dish had sought to fill. Dish launched Project ...