|Day's Range||0.0900 - 0.1800|
MoffettNathanson analyst Craig Moffett ran through several recession scenarios, looking at how they would affect AT&T’s business and ability to maintain the payout.
So far, the internet’s vast infrastructure has, for the most part, been holding up under an onslaught of heavy use with millions of people working from home or self isolating during the COVID-19 pandemic.
DOW UPDATE Buoyed by positive momentum for shares of Chevron and Exxon Mobil, the Dow Jones Industrial Average is climbing Thursday afternoon. Shares of Chevron (CVX) and Exxon Mobil (XOM) have contributed about 25% of the blue-chip gauge's intraday rally, as the Dow (DJIA) was most recently trading 155 points higher (0.
While BlackBerry (BB) beats on fourth-quarter fiscal 2020 earnings on year-over-year revenue growth, Nokia (NOK) launches an innovative platform to aid users with reliable network connectivity.
Ryan Tedder, Grammy® winning songwriter, producer and lead singer of the multi-platinum selling band OneRepublic, will perform on Pay It Forward Live, Verizon’s weekly streaming entertainment series in support of small businesses affected by COVID-19, on Thursday, April 2. The performance, which will take place in his home, will stream live at 8 p.m. ET/5 p.m. PT on Twitter @Verizon, Yahoo and Fios Channel 501.
Fundamental and technical analysis raise issues in buying Verizon stock, a dividend play. VZ stock has outperformed AT&T; shares during coronavirus bear market. 5G may be delayed.
A sports-free landscape has forced many fans to watch and re-watch highlights from classic Super Bowls and World Series on cable sports channels. It’s prompted some to revisit board games like Strat-O-Matic to simulate unplayed games. And it’s prompted others to look for an alternative -- in this case, esports.
Verizon Communications Inc. shares keep raking in the love as analysts show increasing concern about rival AT&T Inc.
(Bloomberg Opinion) -- Just weeks from the launch of its all-important HBO Max product, WarnerMedia is getting a new boss straight from the streaming world. Jason Kilar, who ran Hulu in its early days, is set to take over as CEO of AT&T Inc.’s WarnerMedia division on May 1, the company announced Wednesday. He’ll have oversight of not only the various media networks — HBO, CNN, TBS, TNT, TruTV, Cartoon Network — and the Warner Bros. film studio, but also the product at the center of AT&T’s latest effort to become a dominant force in streaming TV. That’s HBO Max, a $15-a-month app that will serve as the new digital destination for viewers who want to binge on re-runs of “Friends,” relive “Game of Thrones” and have access to new content with the HBO flavor.Kilar, 48, is replacing John Stankey, the longtime AT&T executive who has been juggling two titles: head of WarnerMedia and chief operating officer of the Dallas-based wireless parent company. Killar will report to Stankey, who began his career at one of the Baby Bells and is now considered a top candidate to become AT&T’s next CEO when Randall Stephenson retires. The leadership of the new AT&T is taking shape, though the WarnerMedia gig wasn’t necessarily an easy sell for industry veterans watching the messy integration from afar.Kilar is an interesting choice. Nine years ago, he infamously wrote a memo that read like an obituary for traditional TV, according to Rich Greenfield, an analyst for LightShed Partners, who found a digital copy. “History has shown that incumbents tend to fight trends that challenge established ways and, in the process, lose focus on” customers, Kilar wrote, needling Hulu’s partners at the time (it’s now controlled by Walt Disney Co.). That means HBO, after being led for two years by a wireless executive who knew little about traditional media, will now be led by someone who cares nothing for it. After the Jerry Maguire-like manifesto, one news headline asked if Kilar was trying to get fired; now that kind of thinking has gotten him the top job at a Hollywood giant.Following his time at Hulu, Kilar went on to create a $3-a-month subscription-video service called Vessel. He sold it in 2016 to Verizon Communications Inc., which shut doMn the service days later and put the Vessel team to work on its own go90 mobile-video product. It was part of Verizon’s failed expansion into media, with go90 now also long gone. Kilar’s arrival marks another step on AT&T’s stormy path to become an entertainment juggernaut that can compete with Disney and Netflix Inc. That journey began when AT&T acquired Time Warner in June 2018, after initially facing government resistance and later, skepticism from AT&T’s own shareholders that the megamerger would work. (The company’s last major deal, for the DirecTV satellite service, was already creating enough headaches.) Since then, Stankey has reshuffled the Warner ranks, occasionally creating controversy among employees who weren’t on board with the changes. He told me in an interview last year that he was working to have Warner’s sub-brands work closer together toward a common mission of making HBO Max a success.With most everyone stuck home because of the coronavirus pandemic and binge-watching TV, some have wondered why Stankey hasn’t pushed up the release of HBO Max. Doing so might help it capture more subscribers faster. Although, more time spent watching doesn’t necessarily translate into more money for streaming services, since viewers pay a monthly rate to access an all-you-can-stream buffet of content. The CEO transition may be yet another reason that WarnerMedia is being patient. There’s also tremendous pressure on AT&T to prove it can get this right, not least because it’s saddled with about $180 billion of debt as the U.S. economy hurtles toward a recession.Last fall, I wrote a piece asking, “Is AT&T’s Hollywood plot too far-fetched?” In the coming months, Kilar will help provide the answer. This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Hulu co-founder and former chief executive Jason Kilar has been named the new chief executive of WarnerMedia . It's the latest executive reshuffling at the AT&T-owned media giant, which saw its previous CEO, John Stankey, promoted to president and chief operating officer while still holding the media subsidiary's reins. Stankey will remain in those roles, and Kilar will be reporting to him starting on May 1 — right before the launch of WarnerMedia's new streaming service HBO Max.
In spring 2018, T-Mobile bid to acquire Sprint, seeking greater scale, new wireless spectrum holdings, and cost synergies. The deal finally closed Wednesday.
Verizon (VZ) deploys advanced tech support in a U.S.-based naval hospital ship to aid health care professionals with seamless network connectivity amid the ongoing COVID-19 pandemic.
Goldman Sachs analyst Brett Feldman made some changes to his positioning on telecommunications stocks Wednesday, elevating Verizon Communications Inc. shares to Goldman's 'conviction list' while dropping Comcast Corp. and Altice USA Inc. from the list. He also downgraded shares of CenturyLink Inc. and Intelsat SA to sell from neutral. On Verizon, he said that the stock offers "the most attractive combination of total return and risk owing to its stable wireless business, well-covered dividend (4.6% yield) and strong balance sheet." He worries about "cord-cutting, advertising and [small-and medium-sized business] exposure" for Comcast and Altice USA but kept buy ratings on those stocks even while removing them from the conviction list. Feldman is concerned that the COVID-19 outbreak could put additional pressure on CenturyLink's wireline business and thus its earnings, and he has a more downbeat view on Intelsat due to the company's cruise-ship, aviation, and traditional media exposure.
In the latest trading session, Verizon Communications (VZ) closed at $53.73, marking a -1.9% move from the previous day.
President Donald Trump spoke with the heads of AT&T, Comcast and other companies on Tuesday as more Americans were using the internet under the coronavirus pandemic, and a bipartisan consensus appeared to be emerging on boosting U.S. infrastructure.
Phone companies used to be the ultimate defensive stocks, but recent diversification and changes in business models have made them more sensitive to economic cycles, Nomura’s Jeffrey Kvaal says.
President Donald Trump is holding a call with seven of the biggest U.S. internet and mobile phone providers on Tuesday to talk about how the networks are holding up as tens of millions of Americans work from home. The Federal Communications Commission has said U.S. networks are performing well and has granted temporary access to additional spectrum blocks to help providers manage traffic. AT&T Inc, Verizon Communications Inc, Charter Communications Inc, Comcast, Altice USA , T-Mobile and Sprint Corp are expected to take part in the call.
Verizon announced today that it’s immediately implementing a significantly enhanced compensation plan for the company’s dedicated employees who must deploy outside their homes to meet critical customer needs. “Now, more than ever, our networks must remain operational as we continue to provide essential services to healthcare workers and facilities, first responders, schools, businesses, and families,” said Christy Pambianchi, Verizon’s Chief Human Resources Officer. As part of the company’s “Essential On-Site Services Pay” program, eligible retail employees will receive an increase in their base hourly rate when working in a corporate-owned retail location.
Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...
Verizon will expand Pay It Forward Live, the weekly streaming entertainment series that includes music, gaming, comedy and more in support of small businesses affected by COVID-19, with its first gaming event on Tuesday, March 31. Marshmello and FaZe Clan’s Nate Hill will go head to head in Fortnite during the 45-minute event which will stream live at 8:00 p.m. EST/5 p.m. PST on Twitch, Twitter @verizon, Yahoo Entertainment and on Fios Channel 501. The duo will not only play, but also surprise some of their favorite local businesses, engage with viewers, and create small-business-themed in-game experiences - all while encouraging viewers to support local businesses in their own communities and to use the hashtag #PayitForwardLIVE to unlock funds from Verizon to support small businesses on both Twitch and Twitter.
Over the weekend, Verizon worked with the US Navy to deliver connectivity for the Navy hospital ship USNS Comfort, a Navy medical treatment facility that includes 1,000 hospital beds, 12 operating rooms, radiology capabilities and a pharmacy. Verizon was able to quickly enable connectivity via a secure, dedicated circuit, which allows the medical community to remain in sync with each other and patients and to support critical IT capabilities to staff.