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Verizon Rakes in Wireless Fees in Latest Quarter

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By The Associated Press

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By PETER SVENSSON

NEW YORK — Verizon says its profit rose 16 percent in the latest quarter as revenue from wireless service kept rising at a rate that’s the envy of the industry.

Verizon Communications Inc. (VZ) reported net income of $1.95 billion, or 68 cents a share, in the January to March period. That was up from $1.69 billion, or 59 cents a share, a year earlier.

Analysts polled by FactSet had on average expected earnings of 66 cents a share for the latest quarter.

First-quarter revenue was $29.4 billion, just short of the average analyst estimate at $29.5 billion.

Wireless service revenues rose 8.6 percent to $16.7 billion, accounting for more than half of overall revenue. At closest rival AT&T Inc. (T), wireless service revenue has been rising just over 4 percent a year.

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From: http://www.dailyfinance.com/2013/04/18/verizon-earnings/

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How Dividends Lift Verizon's Stock

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By Anders Bylund, The Motley Fool

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It’s a well-known fact that Verizon offers one of the strongest dividends on the Dow Jones Industrial Average . But how do these generous payouts really affect Verizon’s stock?

With a current yield of 4.2%, Big Red offers the second-largest yield on the blue-chip index, just behind arch rival AT&T ‘s 4.7% and virtually tied with Intel .

Verizon’s dividends make a huge difference in the long run. The stock itself has been lagging behind the average Dow peer over the last 10 years, but the tables are turned if you reinvested Verizon’s dividend checks into more Verizon stock:

VZ data by YCharts.

Verizon shares get a massive adrenaline shot from dividends, but not by boosting the policy by drastic amounts. Like Ma Bell’s, Verizon’s capital-intensive business has been mature for decades, leaving little room for outrageous growth. Not even the smartphone boom of the last five years did much to juice the giants’ top lines. And so their dividends keep growing like racing turtles; slow and steady wins the race.

VZ Dividend data by YCharts

By contrast, Intel has doubled its sales and increased dividend payouts ninefold over the same period. But then, that raging growth leaves the stock open to value-destroying damage if Intel’s growth slows down. The purported “death of the PC” is doing some of that dirty work right now.

Verizon stock is largely immune to such high expectations. Its investors are happy with a slower rise in share prices and dividend payouts. Verizon is a conservative stock for risk-averse investors.

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Source: FULL ARTICLE at DailyFinance

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Verizon, AT&T to Make Joint Bid for Vodafone, Report Says

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By The Associated Press

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NEW YORK — Verizon and AT&T are looking at making a joint bid for Vodafone, the British cellphone company that owns 45 percent of Verizon Wireless, a report says.

New York-based Verizon Communications Inc. (VZ) owns the 55 percent of Verizon Wireless that Vodafone Group PLC (VOD) doesn’t own, and has been openly interested for years in buying out Vodafone. But tax and pricing issues have gotten in the way.

According to the Financial Times, the joint bid would mean Verizon would get Vodafone’s stake in Verizon Wireless, while AT&T Inc. (T) would take over the rest of Vodafone, which has widespread international interests. It operates in Britain, Spain, Portugal, Italy, Greece and India, among other countries.

The newspaper cited “usually reliable people” that it didn’t further identify.

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There has been speculation that AT&T is interested in international expansion, but few signals from the company that this is the case. Cross-border deals in telecommunications have few benefits.

What effect, if any, the deal would have on Verizon Wireless customers isn’t clear. With some 92.5 million subscribers, Verizon Wireless is the nation’s largest wireless-service provider. AT&T has about 70.5 million contract customers, making it second among U.S. carriers.

Verizon had no comment on the report. AT&T didn’t immediately respond to a request for comment.

The London-based newspaper put the value of the bid at $245 billion, which would make it the largest corporate deal ever.

Vodafone shares rose 65 cents, or 2.3 percent, to $28.99 in midday trading, after spiking as high as $29.95 in earlier U.S. trading. Shares of AT&T and Verizon were up about 1 percent, slightly more than market indexes.

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DailyFinance staff contributed to this story.

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Source: FULL ARTICLE at DailyFinance

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24/7 Wall St. Closing Bell — March 18, 2013: Markets Slide on Cyprus Woes (KMB, VZ, RGLD, ACI, HPQ, SYNM, CLSN, HSOL, HAST, KIOR, FF, SBLK, FDS, CTAS, GLUU, JCP, NOK, BBRY)

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By 24/7 Wall St.

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U.S. equity markets opened lower this morning following a weekend of confusion over the proposed solution to the banking problem in Cyprus. It’s not that Cyprus claims a particularly large banking system, but the proposed haircut for their depositors makes depositors everywhere wary (more coverage here). The Cypriot banking mess chilled markets in Asia and Europe today as well. There was little data released today, but the eurozone trade deficit came in higher than forecast and in China, house prices rose 2.1% month-over-month. In the U.S. the National Association of Home Builders index fell again in March, the second straight month of decline (more coverage here). U.S. financial stocks performed poorly today, while tech stocks posted a gain as speculation abounded that Apple Inc. (NASDAQ: AAPL) would seriously boost its dividend.

The U.S. dollar index rose 0.48% today, now at 82.654. The GSCI commodity index is up 0.4% at 652.50, with commodities prices mostly lower today on the stronger dollar. WTI crude oil closed up 0.3% today, at $93.74 a barrel. Brent crude trades down 0.2% at $109.57 a barrel. Natural gas is down 0.1% today at about $3.87 per million BTUs. Gold settled up 0.8% today at $1,604.60 an ounce, its first close above $1,600 this month.

The unofficial closing bells put the DJIA down about 62 points to 14,452.06 (-0.43%), the NASDAQ fell more than 11 points (-0.35%) to 3,237.59, and the S&P 500 fell -0.55% or nearly 9 points to 1,552.10.

There were a several analyst upgrades and downgrades today, including Kimberly-Clark Corp. (NYSE: KMB) cut to ‘sell’ at Goldman Sachs; Verizon Communications Inc. (NYSE: VZ) raised to ‘buy’ at Citigroup (more coverage here); Royal Gold Inc. (NASDAQ: RGLD) started as ‘buy’ at BB&T; Arch Coal Inc. (NYSE: ACI) raised to ‘neutral’ at Nomura; and Hewlett-Packard Co. (NYSE: HPQ) raised to ‘overweight’ at Morgan Stanley.

Earnings reports since markets closed last Friday resulted in several price moves today, including these: Syntroleum Corp. (NASDAQ: SYNM) is down 12.3% at $0.40; Celsion Corp. (NASDAQ: CLSN) is up 1.9% at $1.08; Hanwha Solarone Co. Ltd. (NASDAQ: HSOL) is up 5.7% at $0.93; Hastings Entertainment Inc. (NASDAQ: HAST) is down 4.4% at $2.17; and Kior Inc. (NASDAQ: KIOR) is down 0.9% at $5.76.

Before markets open tomorrow morning we are scheduled to hear from FutureFuel Corp. (NYSE: FF), Star Bulk Carriers Corp. (NASDAQ: SBLK), FactSet Research Systems Inc. (NYSE: FDS), and Cintas Corp. (NASDAQ: CTAS).

Some standouts among heavily traded stocks today include:

Glu Mobile Inc. (NASDAQ: GLUU) is up 11.1% at $3.71. The mobile games developer has been upgraded by several analysts.

J.C. Penney Co. Inc. (NYSE: JCP) is up 6.6% at $16.50. The beleaguered retailer gets a boost today from an analyst’s plan to convert some of the company’s stores to a REIT.

Nokia Corp. (NYSE: NOK) is down 2.3% at $3.35. The handset maker is declining as the U.S. release of the new smartphone from BlackBerry (NASDAQ: BBRY) approaches later this week..

Stay tuned for Tuesday. The Federal Open Market Committee (FOMC) begins its …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Short Interest Wanes in Some Big Stocks (GE, NOK, BAC, VZ, ANR, MCD, AAPL, RIMM, MSFT, DELL, GMCR, CSCO)

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By 24/7 Wall St.

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We have tracked the key short interest changes as of February 15 in the following large cap stocks: General Electric Co. (NYSE: GE), Nokia Corp. (NYSE: NOK), Bank of America Corp. (NYSE: BAC), Verizon Communications Inc. (NYSE: VZ), Alpha Natural Resources Inc. (NYSE: ANR), McDonald’s Corp. (NYSE: MCD), Apple Inc. (NASDAQ: AAPL), Research in Motion, Microsoft Corp. (NASDAQ: MSFT), Dell Inc. (NASDAQ: DELL), Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) and Cisco Systems Inc. (NASDAQ: CSCO).

General Electric Co. (NYSE: GE) short interest rose 6.4% to 77.96 million shares. About 0.7% of GE’s float is now short.

Nokia Corp. (NYSE: NOK) saw short interest fall by 2.7% to 330.97 million shares, about 8.8% of the company’s total float.

Bank of America Corp. (NYSE: BAC) short interest rise 10.3% to 166 million shares, which represents 1.5% of the company’s float.

Verizon Communications Inc. (NYSE: VZ) saw a 3.8% rise in short interest to 47.05 million shares, which represents about 1.6% of the firm’s float.

Alpha Natural Resources Inc. (NYSE: ANR) showed a rise of 3.6% in short interest, to 33.13 million shares, about 15.2% of Alpha’s float.

McDonald’s Corp. (NYSE: MCD) showed a rise of 12.5% in short interest, to 13.92 million shares, about 1.4% of the company’s float.

Apple Inc. (NASDAQ: AAPL) saw a short interest fall by 0.4% to 18.78 million shares, or 2% of the company’s float.

Research In Motion changed its name to BlackBerry (NASDAQ: BBRY) on January 30, and short interest for this period was reported under the old name and ticker symbol RIMM. It saw short interest rise by 5.4% to 136.51 million shares, or 27.6% of the total float.

Microsoft Corp. (NASDAQ: MSFT) posted a 4.4% rise in short interest, to 83.58 million shares, about 1.1% of Microsoft’s float.

Dell Inc. (NASDAQ: DELL) short interest fall by 30.1%, to 28.73 million shares or about 2% of the company’s float.

Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) saw short interest increase by 13.9% to 30.89 million shares or 25.4% of the company’s float.

Cisco Systems Inc. (NASDAQ: CSCO) saw short interest fall by 3% to 55.11 million shares or about 1% of the company’s float.

Short interest in Dell has declined dramatically again following the buyout offer from Michael Dell and his partners. The rise in BlackBerry’s share price has brought more short interest because few people really believe the new smartphones will make much of dent in the armor of Apple, Google Inc. (NASDAQ: GOOG) or Samsung. GE’s rise in short interest is likely due to investors’ belief that the stock is fully valued and prospects are dimming as the global economy continues its slow motion recovery.

Filed under: 24/7 Wall St. Wire, Large Cap Stocks, Short Interest Tagged: AAPL, ANR, BAC, CSCO, DELL, GE, GMCR, GOOG, MCD, MSFT, NOK, RIMM, VZ

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Source: FULL ARTICLE at DailyFinance

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Analyst Says Sprint Trading Way Under Arbitrage Buyout Price (S, VZ, T, AAPL, PCS, CLWR, DISH)

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By 24/7 Wall St.

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The ongoing merger (or majority stake) saga at Sprint Nextel Corp. (NYSE: S) may finally be coming to a close. The analysts at Argus feel confident that the Softbank/Sprint merger has a reasonably good chance for approval. In a research report released today, they point out that investors should take note of the 26% arbitrage difference between the current Sprint stock price and the $7.30 Softbank offer.

The long running turnaround at Sprint has lasted more than three years. While the company has made good progress in luring the lower margin prepaid business, attracting the higher margin postpaid subscribers, a business dominated by Verizon Communications Inc. (NYSE: VZ) and AT&T Inc. (NYSE: T), has been difficult. While prepaid is lower-margin than postpaid, it is one of the strongest parts of Sprint’s business. The research team at Argus sees increased competition in this segment due to refocused offers from the market leaders, Verizon and AT&T, as well as from smaller players like MetroPCS Communications Inc. (NYSE: PCS). In addition, Sprint has been able to launch 4G LTE service in more than 50 cities, though its rollout is still dwarfed by the larger carriers.

Sprint finally got to offer its customers the iPhone in October 2011. Selling the popular smartphone cuts both ways, as handset subsidies paid to Apple Inc. (NASDAQ: AAPL) have hurt margins. According to the Argus research report, Sprint sold 1.6 million iPhones in the fourth quarter, which helped fuel its top line, but also has had an impact on margins.The company said that 38% of its iPhone activations in the quarter were for customers new to Sprint. However, it is unclear exactly where the customers are coming from since AT&T sold 8.6 million iPhones in the quarter and Verizon sold 6.2 million. The likely suspects would be T-Mobile, which does not have the iPhone, and customers moving up from prepaid. We note that nearly 40% of Sprint’s iPhone-related additions in the fourth quarter were new to the company, well above the rates for Verizon and AT&T.

Softbank, which is a Japanese telecom and Internet company, agreed to take control of Sprint Nextel, which is the third-largest U.S. telecom, last October. Under the terms of the deal, SoftBank will invest $20.1 billion in Sprint in exchange for 70% of Sprint’s equity. Some $12.1 billion will be distributed to Sprint shareholders for 55% of the company’s equity, and the remaining $8 billion will be used to strengthen Sprint’s balance sheet. At closing, Sprint shareholders will have the right to receive $7.30 per share in cash or one share of the recapitalized “new Sprint.”

One of the additional attractive assets that Softbank covets in the deal is Sprints majority ownership of wireless broadband provider Clearwire Corp. (NASDAQ: CLWR). With 1.4 million retail subscribers and 9.1 million wholesale subscribers, Clearwire has accepted Sprint’s offer to acquire the remaining 49% of the company that it does not already own. However, a competing …read more
Source: FULL ARTICLE at DailyFinance

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IWF, ORCL, VZ, PEP: ETF Outflow Alert

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By ETFChannel.com Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 1000 Growth Index Fund (AMEX: IWF) where we have detected an approximate $68.2 million dollar outflow — that’s a 0.4% decrease week over week (from 255,550,000 to 254,550,000). Among the largest underlying components of IWF, in trading today Oracle Corp. (NASD: ORCL) is up about 0.7%, Verizon Communications Inc (NYSE: VZ) is down about 0.4%, and PepsiCo Inc. (NYSE: PEP) is lower by about 0.1%. For a complete list of holdings, visit the IWF Holdings page »
Source: FULL ARTICLE at Forbes Markets

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VOX, VZ, SBAC, WIN: ETF Outflow Alert

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By ETFChannel.com Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Telecommunication Services ETF (AMEX: VOX) where we have detected an approximate $50.0 million dollar outflow — that’s a 10.6% decrease week over week (from 6,603,838 to 5,903,838). Among the largest underlying components of VOX, in trading today Verizon Communications Inc (NYSE: VZ) is down about 0.4%, SBA Communications Corp. (NASD: SBAC) is off about 0.7%, and Windstream Corp (NASD: WIN) is higher by about 1.2%. For a complete list of holdings, visit the VOX Holdings page »
Source: FULL ARTICLE at Forbes Markets