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Verizon Communications Inc (VZ)

VZ on New York Consolidated

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25 May 2017
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Latest Key Developments (Source: Significant Developments)

Verizon CEO says Yahoo deal expected to close around mid-June- JPM conference
Monday, 22 May 2017 02:00pm EDT 

May 22 (Reuters) - Verizon Communications Inc ::Verizon CEO Lowell McAdam at JPM conference- building fiber infrastructure better than the alternative of buying spectrum.Verizon CEO Lowell McAdam at JPM conference- yahoo acquisition expected to close around mid-June.  Full Article

Verizon launches retail notes program
Monday, 15 May 2017 11:42am EDT 

May 15 (Reuters) - Verizon Communications Inc ::Verizon launches retail notes program.Verizon internotes will be senior unsecured obligations of Verizon and may be offered on a recurring basis.Notes may be issued with fixed, floating interest rates, in minimum denominations of $1,000 and integral multiples of $1,000.Notes may be issued with maturities of nine months or more.Filed a prospectus supplement with SEC for issuance of corporate notes through InCapital LLC's internotes program.  Full Article

Straight Path says co may be required to pay Verizon a fee of $38 mln upon termination of merger
Thursday, 11 May 2017 04:12pm EDT 

May 11 (Reuters) - Straight Path Communications Inc :Straight Path - upon termination of Verizon merger, under certain circumstances, co may be required to pay Verizon termination fee equal to $38 million.Straight Path says Verizon required to pay co $85 million if merger has not closed by the extended termination date under some circumstances - sec filing.Straight Path - if Verizon merger is terminated other than as a result of Verizon’S breach, co to pay Verizon amount equal to AT&T termination fee.  Full Article

Verizon to buy Straight Path for more than $3 billion- WSJ
Wednesday, 10 May 2017 10:51pm EDT 

May 10 (Reuters) - :Verizon Communications to buy Straight Path Communications for more than $3 billion, after beating rival AT&T Inc in bidding war - WSJ, citing sources.  Full Article

Verizon no longer expects to be able to achieve an upgrade to pre-vodafone credit rating in 2018-2019 timeframe
Friday, 5 May 2017 08:28am EDT 

May 5 (Reuters) - Verizon Communications Inc : :Verizon - in Q1 earnings release, co indicated it was on track for return to pre-vodafone credit rating profile by 2018-2019 timeframe .Verizon- no longer expect to be able to achieve an upgrade to our pre-vodafone credit rating in 2018-2019 timeframe - .Verizon - expectation for return to pre-vodafone credit rating profile by 2018-2019 was based on then existing view rating agencies used to assess industry.Verizon - no longer expect to be able to achieve upgrade to pre-Vodafone credit rating as result of recent change in rating agencies' view on industry.  Full Article

Verizon launch FIOS Gigabit connection priced at $69.99 a month standalone
Monday, 24 Apr 2017 09:00am EDT 

April 24 (Reuters) - Verizon Communications Inc :Launched FIOS Gigabit connection priced at $69.99 a month standalone and starting at $79.99 a month for triple play bundle when ordered online.  Full Article

Verizon Communications Q1 earnings per share $0.84
Thursday, 20 Apr 2017 07:30am EDT 

April 20 (Reuters) - Verizon Communications Inc :Q1 earnings per share $0.84.Q1 revenue $29.8 billion versus i/b/e/s view $30.77 billion.Q1 earnings per share view $0.99 -- Thomson Reuters I/B/E/S.Q1 adjusted non-gaap earnings per share $0.95 excluding items.Verizon sees full-year 2017 consolidated revenues, on an organic basis, to be fairly consistent with 2016.Verizon sees consolidated capital spending for 2017 in range of $16.8 billion to $17.5 billion.Verizon - q1 wireless retail postpaid churn 1.15 percent versus 0.96 percent.Verizon sees full-year 2017 consolidated adjusted eps trends to be similar to consolidated revenue trends.Verizon - q1 net decline of 307,000 wireless retail postpaid connections versus wireless retail postpaid net additions 640,000 last year.Verizon - sees improvement in wireless service revenue and equipment revenue trends for fy 2017.Fy2017 earnings per share view $3.81, revenue view $124.53 billion -- Thomson Reuters I/B/E/S.  Full Article

Yahoo reports Q1 earnings per share $0.10
Tuesday, 18 Apr 2017 04:05pm EDT 

April 18 (Reuters) - Yahoo! Inc -:Yahoo reports first quarter 2017 results.Yahoo - company anticipates verizon deal closing to occur in june 2017.Yahoo - qtrly non-gaap earnings per share $0.18.Yahoo qtrly number of paid clicks decreased 12 percent compared to Q1 of 2016.Yahoo qtrly price-per-click increased 10 percent compared to q1 of 2016.Yahoo qtrly number of ads sold increased 2 percent compared to q1 of 2016.Yahoo qtrly price-per-ad remained same as q1 of 2016.Yahoo - qtrly earnings per share $0.10.Yahoo - qtrly gaap revenue $1,327 million versus $1,087 million.Yahoo - for q1 of 2017, change in revenue presentation contributed $304 million to each of gaap revenue and cost of revenue - tac.Q1 earnings per share view $0.14, revenue view $1.23 billion -- Thomson Reuters I/B/E/S.Yahoo - qtrly cost of revenue -tac $494 million versus $228 million.Yahoo - incurred security incidents costs of $11.3 million in q1.  Full Article

Verizon, Corning agree to three-year fiber deal for $1.05 bln - CNBC
Tuesday, 18 Apr 2017 11:01am EDT 

April 18 (Reuters) - :Verizon agrees to $1.05 billion fiber-optic cable deal to grow its Fios platform - CNBC.Verizon says Corning to provide and for Verizon to purchase up to 12.4 million miles of optical fiber each year beginning in 2018 through 2020 - CNBC.  Full Article

Verizon signs 3-year minimum purchase deal with Corning for fiber optic cable
Tuesday, 18 Apr 2017 11:01am EDT 

April 18 (Reuters) - Verizon Communications Inc ::Verizon agrees to $1.05 billion three-year minimum purchase agreement with Corning for next-generation optical solutions.Verizon - agreement calls for Corning to provide and Verizon to purchase up to 20 million kilometers of optical fiber each year from 2018 through 2020.Verizon says Corning expects the capacity expansions to begin to come online in 2017 and become fully operational in 2018.Verizon - agreement with Corning incorporated to provide fiber optic cable and associated hardware.  Full Article

More From Around the Web

S&P may disconnect the telecom services sector index

NEW YORK The S&P 500 Telecommunications Services Sector index as-we-know it may have to hang up on investors, as its creators are considering a restructuring of the once-hot index which has shrunk to just four companies from 14.