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VZ | Verizon says to shed 10 400 jobs by mid next year | Reuters Verizon Communications Inc NYSE VZ said on Monday that about 10 400 employees will be leaving the U S wireless carrier by mid next year as part of the company s voluntary separation program The New York based company has been looking at cutting costs as it ramps up investment in its next generation 5G network which is expected to fuel growth The company has said it was on track to reach 10 billion in cumulative cash savings by 2021 As part of the separation program the employees will get a salary of up to 60 weeks bonus and benefits depending on the length of their service Verizon said This program coincides with Verizon s recently announced realigned organization structure designed to optimize growth opportunities in the 5G era the company said
The company said it had 152 300 employees at the end of the third quarter ending Sept 30 |
VZ | Mobility tech firm Optibus raises 40 million Alibaba takes stake | JERUSALEM Reuters U S Israeli mobility technology company Optibus said on Wednesday it raised 40 million in a private funding round led by Insight Venture Partners and with a strategic investment from the Alibaba NYSE BABA Group Existing investors including Verizon NYSE VZ Ventures Pitango Venture Capital New Era Capital and Sir Ronald Cohen also participated in the round Details of Alibaba s stake were not disclosed Optibus develops software to modernize mass transit systems and get them ready for smart city integration The company said its technology is being used by more than 300 cities to improve quality of service reduce costs streamline operations and reduce congestion and emissions Since its previous funding of 12 million in 2017 Optibus has expanded its presence in North America and Europe and seen its sales grow by 400 percent it said |
XOM | ExxonMobil XOM To Report Q4 Earnings What s In Store | Exxon Mobil Corporation NYSE XOM is set to report fourth quarter 2019 results on Jan 31 before the opening bell In the last reported quarter the company came up with earnings of 68 cents per share that beat the Zacks Consensus Estimate of 64 cents on the back of ramped up liquid volumes in the prolific Permian Basin Notably ExxonMobil beat earnings estimates thrice in the last four reported quarters delivering an average positive surprise of 7 5 as shown in the chart below Exxon Mobil Corporation Price and EPS Surprise Let s see how things have shaped up prior to the announcement Trend in Estimate RevisionThe Zacks Consensus Estimate for fourth quarter earnings of 47 cents has seen no upward revision and five downward movements in the past 30 days The figure suggests a year over year decline of 68 9 Further the Zacks Consensus Estimate for revenues is pegged at 68 9 billion for the quarter indicating a decline of 4 2 from the year ago reported figure Factors to ConsiderRamped up production from U S shale resources especially in the Permian and weak global crude demand are expected to have impacted commodity prices in the fourth quarter Through the December quarter of 2019 price of West Texas Intermediate averaged 56 96 per barrel lower than the year ago level of 59 08 Similarly Brent crude averaged 63 41 per barrel lower than the year ago quarter s 67 71 The drop in oil prices is likely to have clipped ExxonMobil s fourth quarter 2019 profit from upstream operations Notably the latest SEC filing revealed that the company expects operating profits from upstream activities to reach 2 3 billion in fourth quarter 2019 indicating a decline from the year ago level of 3 7 billion This price drop might have been partially offset by higher production The Zacks Consensus Estimate for fourth quarter production is pegged at 4 044 thousand barrels of oil equivalent per day MBoe d suggesting an improvement from the year ago period s 4 010 MBoe d The recent regulatory filing also reflected the company s decline in profits from the chemicals business It is expected to have taken a hit from a global glut in polyethylene The segment is expected to record a 100 300 million loss The year ago profit came in at 744 million Similarly the downstream business which generated 1 2 billion in profits in third quarter 2019 is expected to take a 800 600 million hit in the fourth quarter The segment might have been affected by continued pressure on refining margins and the impact of derivatives on diesel gasoline and other products Comparably the Downstream segment had generated profit of 2 7 billion in fourth quarter 2018 Earnings WhispersOur proven model does not conclusively predict an earnings beat for ExxonMobil this time around The combination of a positive and a Zacks Rank 1 Strong Buy 2 Buy or 3 Hold increases the chances of an earnings beat That is not the case here as you will see below Earnings ESP The company s Earnings ESP is 0 85 You can uncover the best stocks to buy or sell before they re reported with our Zacks Rank ExxonMobil currently carries a Zacks Rank 3 Recent News UpdateExxonMobil made another huge oil discovery in the Stabroek Block located offshore Guyana The company announced the new hydrocarbon discovery at the Uaru exploration well located 16 kilometres northeast of the Liza field The latest discovery marks the 16th one in the Stabroek Block The largest publicly traded energy mammoth has increased reserve estimates in the block to more than 8 billion Boe Notably ExxonMobil considers deepwater Guyana and the booming Permian Basin as major growth drivers Stocks That Warrant a LookThough an earnings beat looks uncertain for ExxonMobil here are a few firms that you may want to consider on the basis of our model These have the right combination of elements to post an earnings beat in the upcoming quarterly reports Enbridge Inc NYSE ENB has an Earnings ESP of 3 66 and carries a Zacks Rank 2 The company is scheduled to release quarterly earnings on Feb 14 You can see NGL Energy Partners LP NYSE NGL has an Earnings ESP of 36 84 and a Zacks Rank 1 The company is set to release quarterly earnings on Feb 6 Antero Resources Corporation NYSE AR has an Earnings ESP of 6 02 and a Zacks Rank 3 The company is set to release quarterly earnings on Feb 12 5 Stocks Set to Double Each was hand picked by a Zacks expert as the 1 favorite stock to gain 100 or more in 2020 Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth Most of the stocks in this report are flying under Wall Street radar which provides a great opportunity to get in on the ground floor |
WMB | NHL roundup Bruins edge Sens run point streak to 19 | David Krejci tipped in the go ahead goal with 45 seconds left in regulation and the Boston Bruins beat the visiting Ottawa Senators 3 2 on Saturday night to extend their point streak to 19 games Two nights after Boston scored twice in the final minute to beat Florida 4 3 Krejci put home a shot from Danton Heinen to break a 2 2 tie The Bruins are 15 0 4 since losing in regulation to the New York Rangers on Jan 19 the team s longest such run since a club record 23 game point streak 15 0 8 from 1940 41 Boston also swept a six game homestand by winning its 10th in a row at TD Garden and eighth straight overall against the Senators who are 1 9 1 in their last 11 contests Coyotes 4 Kings 2 Christian Dvorak and Michael Grabner scored two goals each to help the Arizona inch closer to a playoff spot with a win against visiting Los Angeles They were the first goals for both forwards since returning from long term injuries Clayton Keller had two assists and Darcy Kuemper made 34 saves for the Coyotes 34 29 5 who moved within a point of the Minnesota Wild for the second wild card from the Western Conference Knights 6 Canucks 2 Alex Tuch had a goal and two assists and Mark Stone Paul Stastny and Tomas Nosek each had a goal and an assist as visiting Vegas scored a franchise record five goals in the first period en route to the victory over Vancouver Cody Eakin and Nate Schmidt also scored goals and Colin Miller added two assists for Vegas which moved within eight points of second place Calgary in the Pacific Division The Golden Knights will try to match their season high seven game win streak on Sunday night when they play the Flames on the back end of a back to back in Calgary Flyers 5 Islanders 2 James van Riemsdyk collected a goal and an assist and five different Philadelphia skaters scored to thump New York Goalie Brian Elliott stopped 25 shots for the Flyers who are on a 5 1 1 run and five points out of a playoff spot Philadelphia surrendered the game s first goal but took over with five consecutive goals en route to their second win over the Islanders in less than a week Hurricanes 5 Predators 3 Nino Niederreiter bounced back from an ugly performance by scoring two goals leading Carolina to a victory against host Nashville Justin Williams NYSE WMB Jordan Martinook and Sebastian Aho also scored for Carolina and goaltender Petr Mrazek made 31 saves to improve to 6 1 0 in his past seven starts Craig Smith Brian Boyle and Mikael Granlund scored for Nashville which missed an opportunity to move past idle Winnipeg into first place in the Central Division Predators goalie Juuse Saros stopped 27 of 31 shots Blackhawks 2 Stars 1 Alex DeBrincat scored the deciding goal late in the first period and Corey Crawford made 26 saves as visiting Chicago outlasted Dallas in a key Western Conference dustup The Blackhawks captured consecutive wins for the first time since Feb 18 and 20 They are 3 4 0 in their past seven games and climbed to within seven points of Minnesota with 14 games remaining in the regular season Anton Khudobin turned away 37 of the 39 shots he faced as Dallas had a four game win streak snapped and settled for a 2 1 homestand The Stars play their next two games on the road beginning Tuesday in Buffalo Blue Jackets 4 Penguins 1 Cam Atkinson scored twice including a short handed goal in the second period that held up as the decider as Columbus finally solved visiting Pittsburgh to enhance its chances of making the playoffs Pittsburgh had won nine straight games against Columbus Boone Jenner and Oliver Bjorkstrand also scored for the Blue Jackets who had lost three of their previous four games Goaltender Sergei Bobrovsky who somewhat curiously was a healthy scratch Thursday at Pittsburgh made 28 saves Rangers 4 Devils 2 Vladislav Namestnikov scored the tiebreaking goal with 6 35 remaining in the third period and collected two assists as New York rallied from an early two goal deficit and snapped a season high six game losing streak with a victory over visiting New Jersey The Rangers beat the Devils for the third time in as many meetings and rallied from a 2 0 deficit for the second time thanks to Namestnikov who was moved up to the first line New York went ahead after Namestnikov helped keep possession of the puck by prying it away from New Jersey goaltender Cory Schneider who tried to smother the puck after the Rangers moved it out of the right corner Lightning 3 Red Wings 2 Nikita Kucherov scored two goals and Tampa Bay defeated visiting Detroit for the 14th consecutive time Kucherov now has an NHL high 110 points which is also a franchise record Louis Domingue made 22 saves while Ryan McDonagh had the other goal for Tampa Bay which bounced back after being shut out by Minnesota in its previous outing Maple Leafs 3 Oilers 2 John Tavares had a goal and two assists and visiting Toronto held on to defeat Edmonton Morgan Rielly and Jake Muzzin also scored for the Maple Leafs who ended the Oilers four game winning streak Toronto won both meetings between the teams this season after a 6 2 home win on Feb 27 Ryan Nugent Hopkins and Oscar Klefbom scored for Edmonton late in the third period with the goaltender removed for an extra attacker Connor McDavid and Leon Draisaitl each had two assists Sharks 3 Blues 2 OT Kevin Labanc scored 3 21 into overtime as host San Jose moved into first place in the Pacific Division with a victory over St Louis Blues St Louis goaltender Jake Allen kept the contest tied at 2 by using his blocker to deny Marcus Sorensen s bid on a breakaway with three minutes remaining in the third period Allen also turned away Gustav Nyquist s shot from the slot early in overtime before Labanc converted a give and go with Logan Couture for his fourth career overtime goal Timo Meier scored twice to extend his goal scoring streak to four consecutive contests for the Sharks 41 19 8 90 points who completed a sweep of their four game homestand and moved past idle Calgary atop the Pacific Avalanche 3 Sabres 0 Philipp Grubauer had 18 saves for his second shutout of the season Nathan MacKinnon had a goal and two assists and Colorado beat slumping Buffalo Mikko Rantanen and Gabriel Bourque also scored for the Avalanche 30 27 12 72 points who moved within two points of idle Minnesota for the second wild card in the Western Conference
Carter Hutton had 40 saves for Buffalo The Sabres 30 29 9 69 have lost four straight and are 2 8 2 in their last 12 games Field Level Media |
WMB | Enbridge pipeline delay spooks traders in long term Canada crude market | By Devika Krishna Kumar and Nia Williams NYSE WMB NEW YORK CALGARY Alberta Reuters North American energy traders are reluctant to take up long term positions on Canadian crude price moves preferring to stick to spot deals as uncertainty around government intervention in the market grows following delays to a critical pipeline project Enbridge Inc unexpectedly said earlier this month its Line 3 oil pipeline will be delayed until the second half of 2020 dealing another blow to the oil rich province of Alberta which is struggling with long running congestion on export pipelines Severe pipeline bottlenecks depressed Canadian heavy oil prices to the weakest on record last year prompting the Alberta government to order mandatory production cuts effective Jan 1 a move that sent prices sky rocketing and traders scrambling to cover positions While some producers welcomed the government cuts others including Suncor Energy and Imperial Oil criticized the move for causing uncertainty and unintended consequences such as disrupting rail shipments of crude Imperial declined to comment and Suncor did not offer an immediate comment Now Enbridge s delay has heightened concerns the government may impose cuts for longer than its current target of year end Everything we heard from the government was that they were 100 percent relying on Line 3 coming into service at the end of 2019 said Tim Pickering president of Auspice Capital Advisors in Calgary which manages a Canadian crude exchange traded fund That delay is definitely something that may have them responding as the market changes he added Canada is the world s fourth biggest oil producer and the heavy crude it produces is in high demand in the United States where refiners are already facing a shortage due to sanctions on Venezuela and lower production from Mexico But sources at producers and refiners on both sides of the border said it has become more difficult to make a compelling case to management to buy Canadian oil contracts for later in the year because of the uncertainty related to what the government might do BROKEN TRUST Not being able to lock in forward prices typically heightens risk for producers and refiners leaving them more exposed to fluctuating spot commodity prices Longer dated trading volumes in the Canadian heavy benchmark Western Canada Select WCS vary each month making year on year comparisons of trading volumes difficult traders said But buyers of Canadian crude in the U S Gulf Coast have held back from taking up positions to hedge their exposure or betting on Canadian prices for later in the year for fear of big losses if the government makes an unexpected move sources said I won t take any forward positions in Canada right now Everyone is wondering what the government is going to do one announcement can ruin your year one trader said Hedge funds who typically trade financial contracts rather than physical barrels are also reluctant to get involved in Canada now Pickering said leading to a thinner market with fewer participants Liquidity in the Canadian crude ETF that Auspice manages surged last October as Canadian crude s discount to U S oil futures ballooned attracting big U S market makers like Virtu Financial and Jane Street Pickering said That liquidity dropped off once the government stepped in Further muddying the picture current Alberta Premier Rachel Notley s New Democratic Party government is currently trailing in the polls ahead of a spring election facing a stiff challenge from the United Conservative Party It is unclear what impact the elections would have on planned curtailments Alberta government spokesman Mike McKinnon said the cuts had been applied fairly and equitably A short term production limit is not ideal or sustainable which is exactly why we have a plan to move more oil by rail in the coming months while we fight for the long term solution of building pipelines to new markets he said One Calgary based trader said the Alberta government had ruined trust in the Canadian heavy crude market Market participants who were bearish 2019 WCS because of fundamentals like rising production and tight pipeline capacity were wrong footed by the curtailments and ended up losing a ton of money he said
I just think it s too risky now So no one is trading that far out another Calgary based trader said |
WMB | Halep claims tough win over qualifier Kozlova | Reuters World number two Simona Halep survived a tough challenge from Ukrainian qualifier Kateryna Kozlova to win their third round match 7 6 3 7 5 at the BNP Paribas PA BNPP Open in Indian Wells California on Sunday The Romanian finally put away the 114th ranked Kozlova with eight consecutive points in the second set a backhand winner proving the decider just as it had in the first set It was difficult for me to close out those sets Halep told reporters praising Kozlova When I was leading the match she played without fear The victory advanced the French Open champion who won Indian Wells in 2015 to the fourth round for the fifth time in six years The meeting was the first between the pair and featured big momentum swings After Kozlova claimed a 3 2 advantage in the first set Halep won three consecutive games to go to set point at 5 3 on Kozlova s serve With the former world number one s groundstrokes failing her Kozlova reeled off 11 of the next 12 points breaking back for 5 5 with a forehand winner Halep finally won the set on her third opportunity with another trademark backhand down the line The Romanian took four successive games for a 5 2 lead in the second set but Kozlova again rallied to even the match at 5 5 before Halep reeled off the eight straight points to seal the win The tournament lost 23 times grand slam winner Serena Williams NYSE WMB who retired against Garbine Muguruza with what organisers described as a viral illness The Spaniard was ahead 6 3 1 0 at the time Former Wimbledon and French Open champion Muguruza was happy with her truncated performance I think I played well she said I m going to take the positive side of that
China s Qiang Wang also advanced with a 7 6 4 6 7 4 6 3 victory in almost three hours against Belgium s Elise Mertens |
WMB | Serena Williams retires ill at Indian Wells | Reuters An ill Serena Williams NYSE WMB retired from the BNP Paribas PA BNPP Open while trailing Spain s Garbine Muguruza 6 3 1 0 at Indian Wells on Sunday Williams had taken a 3 0 lead in the first set before losing the next seven games She walked to the chair after the first game of the second set and sat down breathing heavily After a discussion with supervisor Donna Kelso the American retired Tournament officials said the former world number one was suffering from a viral illness and Williams later confirmed she had been feeling ill ahead of the third round tie Before the match I did not feel great and then it just got worse with every second extreme dizziness and extreme fatigue Williams said in a statement By the score it might have looked like I started well but I was not feeling at all well physically I will focus on getting better and start preparing for Miami Williams 37 had shown signs of fatigue during the first set and after it was completed she called for a trainer and following a lengthy conversation returned to the court Muguruza said it felt like a hollow victory I felt that maybe she wasn t feeling well she said It s really a weird feeling because I don t feel like I won the match point and got the well done good match It was just like man we ll play next time Williams who has won 23 Grand Slam singles titles gave birth to a daughter in 2017 and returned to play last year She is currently ranked 10th in the world and was playing in her first tournament since the Australian Open in January She defeated Victoria Azarenka 7 5 6 3 in her first match at Indian Wells on Friday |
WMB | Israeli deportation hearing focuses on Human Right Watch official s tweets | By Dan Williams NYSE WMB JERUSALEM Reuters An Israeli appellate court deferred a ruling on Monday over the deportation of the director of the local office of Human Rights Watch accused of promoting pro Palestinian boycotts of Israel which Israel has banned The judge said she wanted more time to study the Twitter history of Omar Shakir who is contesting the revocation of his work permit last year The New York based rights watchdog has cast the case as a bid to suppress global criticism of Israel s treatment of Palestinians Israel says that Shakir a U S citizen supports the Boycott Divestment and Sanctions BDS movement Israel has criminalized BDS and has lobbied Western powers to follow suit The case hinges in part on Shakir s pro BDS tweeting before he became Human Rights Watch s director for Israel and the Palestinian territories in 2016 and whether his statements after the appointment also constitute such support Human Rights Watch says it does not support boycotts of Israel It has defended Shakir s statements since joining the rights group including a tweet backing Airbnb s delisting of homes in Israeli settlements in the occupied West Bank Right wing advocacy groups represented in court argued that Israeli law does not distinguish between boycotts of the settlements and boycotts of Israel itself One advocate Nitsana Darshan Leitner of the Shurat Hadin Israel Law Centre said Israel should consider barring Human Rights Watch entirely Shakir s Israeli lawyer Michael Sfard said that was what the case boiled down to as deporting the appellant means deporting the organization The case should not hinge on trying to determine Shakir s personal views as the question is not what he thinks but what he does and whether he calls openly for a boycott Sfard said The state s representative Jerusalem District prosecutor Moran Brown was circumspect about Human Rights Watch s status
The organization is not defined by us as a boycott group but it takes part in activity that supports boycotts he said |
WMB | Tennis Latvia s Sevastova out of Indian Wells with virus | Reuters Latvian 11th seed Anastasija Sevastova exited the BNP Paribas PA BNPP Open with a viral illness in Indian Wells California on Monday Sevastova was down 5 0 in the first set of her third round match with Estonian 21st seed Anett Kontaveit when she retired Her departure the cause of which was reported by the WTA came less than 24 hours after Serena Williams NYSE WMB was unable to continue her match on Sunday also citing a viral illness Men s third seed Alexander Zverev revealed on Monday that he too had a virus speaking after losing to fellow German Jan Lennard Struff Among those women still feeling healthy three times grand slam champion Angelique Kerber battled back to beat Russian qualifier Natalia Vikhlyantseva 3 6 6 1 6 3 Kerber took a while to warm to her task on a cool morning in the California desert She was playing really fast and flat so that was something I was not really expecting the German said of her opponent I was trying to adjust especially with my movement at the end of the first set and beginning of the second and I think that was the key to coming back Another high seed No 5 Karolina Pliskova was not at her very best but still prevailed 6 3 6 2 over Ysaline Bonaventure I felt somehow strange and the match was strange said former number one Pliskova
The Czech has made a fine start to the year winning the WTA event in Brisbane and reaching the Australian Open semi finals |
WMB | Osaka powers into fourth round at Indian Wells | Reuters World number one Naomi Osaka powered into the fourth round at Indian Wells on Monday after a 6 4 6 2 victory over Danielle Collins The 21 year old Japanese had a shaky start when she was broken early in the first set but quickly found her groove and broke the American four times and struck 29 winners to advance The U S and Australian Open champion who is also defending the title at Indian Wells will next face Switzerland s Belinda Bencic who beat Ekaterina Alexandrova 6 4 6 2 The duo were joined in the fourth round by seven times Grand Slam champion Venus Williams NYSE WMB who defeated qualifier Christina McHale 6 2 7 5 The 38 year old Williams who showed her mettle in the second round where she upset world number three Petra Kvitova will meet unseeded German Mona Barthel in the fourth round I feel definitely more comfortable going into that match than for example today Williams told reporters I had never played McHale before so you feel like you don t really know what s going to happen Earlier Latvian 11th seed Anastasija Sevastova became the latest player to be stuck down with a viral illness at the tournament Sevastova was down 5 0 in the first set of her third round match with Estonian 21st seed Anett Kontaveit when she retired Her departure came less than 24 hours after Serena Williams was unable to continue her match on Sunday also citing a viral illness Men s third seed Alexander Zverev also said on Monday after losing to fellow German Jan Lennard Struff that he too had a virus Among those women still feeling healthy three times grand slam champion Angelique Kerber battled back to beat Russian qualifier Natalia Vikhlyantseva 3 6 6 1 6 3 Kerber took a while to warm to her task on a cool morning in the California desert She was playing really fast and flat so that was something I was not really expecting the German said of her opponent I was trying to adjust especially with my movement at the end of the first set and beginning of the second and I think that was the key to coming back Fifth seed Karolina Pliskova was not at her very best but still prevailed 6 3 6 2 over Ysaline Bonaventure I felt somehow strange and the match was strange said Pliskova |
WMB | NBA roundup Clippers Williams makes history off bench | Lou Williams NYSE WMB scored 34 points to become the most prolific bench scorer in NBA history as the Los Angeles Clippers blew out the visiting Boston Celtics 140 115 on Monday Danilo Gallinari scored 13 of his 25 points in the opening quarter and Montrezl Harrell added 20 points as the Clippers won their fifth consecutive game and improved to 9 3 since their roster was restructured at the trade deadline Williams who leads the NBA in points off the bench this season passed Dell Curry as the highest scoring player off the bench of all time and now has 11 154 as a reserve in his career Curry had 11 148 points as a reserve It was Williams eighth game of the season with at least 30 points all since Dec 28 Terry Rozier scored 26 points for the Celtics who saw their three game winning streak end Boston went 3 1 on a four game road trip all against California teams Jaylen Brown scored 22 points and Kyrie Irving added 18 and 11 assists for the Celtics Rockets 118 Hornets 106 Clint Capela dominated the paint as Houston stretched its winning streak to nine games with a victory over visiting Charlotte Capela paired 19 points on 8 of 12 shooting with 15 rebounds and controlled the interior as the Rockets produced a 55 39 rebounding advantage James Harden led the Rockets with 28 points and 10 assists Eric Gordon chipped in 22 points and Chris Paul contributed 10 points and 10 rebounds Hornets star Kemba Walker finished with a game high 40 points on 14 of 20 shooting He shot a combined 11 of 11 in the second and third periods pouring in 31 points during that stretch Thunder 98 Jazz 89 Dennis Schroder scored 24 points and Russell Westbrook had 23 points and 11 rebounds as Oklahoma City beat Utah in Salt Lake City The win was just the third in nine games for the Thunder who beat the Jazz for the fourth time this season to sweep the season series Paul George struggled offensively yet again for Oklahoma City though he finished with 14 points and 11 rebounds Utah which got a game high 25 points from Donovan Mitchell lost for the third time in the past four games Cavaliers 126 Raptors 101 Collin Sexton scored 28 points as Cleveland cruised past visiting Toronto Kevin Love with 16 points and 18 rebounds recorded his ninth double double in 14 games for the Cavaliers this season Love also was a force on the defensive end drawing four offensive fouls Cleveland s Cedi Osman added 19 points Kawhi Leonard led the Raptors with 25 points and nine rebounds Toronto s Serge Ibaka and Cleveland s Marquese Chriss were ejected following a fight near the end of the third quarter Nets 103 Pistons 75 Spencer Dinwiddie scored 19 points as Brooklyn seized control late in the first half and claimed a lopsided win over Detroit in New York In the final game before a season long seven game road trip that starts Wednesday in Oklahoma City the Nets won their fourth straight Allen Crabbe added 14 points for Brooklyn Andre Drummond collected 13 points and 20 rebounds for Detroit which had its five game winning streak stopped Blake Griffin finished with 10 points on 1 of 10 shooting Wizards 121 Kings 115 Bradley Beal scored 27 points Bobby Portis added 17 points and 13 rebounds and Washington defeated visiting Sacramento Jabari Parker scored 18 points and Tomas Satoransky had 17 as the Wizards started a crucial five game homestand by ending a two game losing skid Beal added nine rebounds nine assists and four steals
De Aaron Fox led seven Kings in double figures with 23 points Nemanja Bjelica had 15 points and 12 rebounds for Sacramento Field Level Media |
VZ | Can Wireless Strength Drive Verizon s VZ Q3 Earnings | Verizon Communications Inc NYSE VZ is scheduled to release third quarter 2019 results before the opening bell on Oct 25 In the last reported quarter adjusted earnings beat the Zacks Consensus Estimate by 3 cents Verizon is likely to have recorded higher year over year revenues from the Wireless segment which accounts for lion s share of total revenues Factors at PlayDuring the third quarter the telecom behemoth launched 5G Ultra Wideband network in select locations of Atlanta Detroit Indianapolis Washington DC Phoenix St Paul New York City Panama City and Boise to bring the tally of mobility service cities to 13 Also Verizon launched its fifth 5G enabled device Inseego Corp s MiFi M1000 that combines large bandwidth and fast download speeds for data extensive applications These are expected to be reflected in the third quarter results The company has aggressively expanded its fiber optics networks to support 4G LTE and upcoming 5G wireless standards as well as wireline connections which is likely to have translated into healthy segment margin for the quarter Buoyed by such tailwinds the Zacks Consensus Estimate for the Wireless segment s operating revenues for the to be reported quarter is currently pegged at 23 437 million up 2 from the year ago reported figure of 22 973 million The higher revenue expectations can be attributed to an uptick in demand and an upgrade to state of the art infrastructure Total revenues for the company are expected to be 32 715 million It generated revenues of 32 607 million in the prior year quarter The Zacks Consensus Estimate for earnings is currently pegged at 1 24 per share up from 1 22 reported in the year earlier quarter Key Developments in Q3During the third quarter Verizon decided to wind up the operations of news channel Fios1 Fiber Optic Service News which is one of the two hyperlocal cable news channels serving New York City s metro area The company also announced plans to divest the social media blogging site Tumblr for an undisclosed amount to San Francisco based web developer firm Automattic Inc in order to focus on core assets that centered on premium original content Moreover the company offered a voluntary severance package to about 44 000 employees to trim its workforce by about 30 The moves are aimed to reduce operating costs by 10 billion by 2021 Earnings WhispersOur proven model predicts an earnings beat for Verizon in the third quarter The combination of a positive and a Zacks Rank 1 Strong Buy 2 Buy or 3 Hold increases the chances of an earnings beat This is perfectly the case here Earnings ESP Earnings ESP which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate is 0 40 You can uncover the best stocks to buy or sell before they re reported with our Verizon Communications Inc Price and EPS Surprise
Zacks Rank Verizon has a Zacks Rank 2 Other Stocks to ConsiderHere are some other companies that you may want to consider as our model shows that these have the right combination of elements to post an earnings beat this quarter AT T NYSE T is set to release quarterly numbers on Oct 28 It has an Earnings ESP of 0 50 and a Zacks Rank 3 You can see The Earnings ESP for T Mobile US Inc NYSE S is 0 55 and it carries a Zacks Rank of 2 The company is set to report quarterly numbers on Oct 28 The Earnings ESP for Sprint Corporation NYSE S is 27 78 and it carries a Zacks Rank of 3 The company is likely to report quarterly numbers on Oct 30 7 Best Stocks for the Next 30 DaysJust released Experts distill 7 elite stocks from the current list of 220 Zacks Rank 1 Strong Buys They deem these tickers Most Likely for Early Price Pops Since 1988 the full list has beaten the market more than 2X over with an average gain of 24 50 per year So be sure to give these hand picked 7 your immediate attention |
VZ | Sprint Develops Small Cell Solutions For Higher Coverage | Sprint Corporation NYSE S recently announced that it is launching two new products in the market namely Pebble femtocell and Sprint Magic Box Silver to enhance data coverage Pebble femtocell is the first of a kind device created by Casa Systems which is a pioneer in providing advanced ultra broadband 5G solutions for mobile cable fixed and converged service providers The product has been intricately designed to offer an untethered Wi Fi backhaul option in conjunction with standard Ethernet connection to provide high speed data services to customers The 6 5 inch portable device will expand data coverage by utilizing customers broadband connection instead of a regular call tower connection Hence the device can be placed anywhere without the hassle of connecting additional cables to the home router It is expected to be available by the end of the year The Sprint Magic Box Silver tailored and manufactured by Sercomm Corp a Taiwanese manufacturer of broadband and wireless networking equipment is a revamped version of Sprint Magic Box Originally launched in 2017 Sprint has been able to deliver more than 370 000 devices It proffers plug and play feature which enables the device to automatically connect with the network thereby enhancing the data speed and coverage at the same time This trailblazing technology specifically designed for both business and residential customers also delivers location flexibility and congruous LTE data coverage without any location constraints within the house Like Pebble this device too is expected to be available by the end of the year followed by Sprint s more recent launches Sprint Magic Box Generation 3 and Sprint Magic Box Hospitality Edition Existing Market ScenarioWith a customer base of 54 3 million as of Jun 30 2019 the fourth largest U S wireless carrier has lately been losing customers due to intense competition The company s efforts to lure customers from rival carriers such as AT T Inc NYSE T and Verizon Communications Inc NYSE VZ by offering attractive promotional plans and lucrative discounts have consequently resulted in high cash burn rate Sprint also has a debt laden balance sheet which affects its cost of capital while trying to raise funds for network expansion However Sprint s all stock merger with T Mobile US Inc NYSE T has won majority votes from Federal Communications Commission to facilitate faster and seamless deployment of 5G wireless networks across the country Amidst several controversies the combined entity is expected to have about 127 million customers a strong closing balance sheet and a fully funded business plan along with a strong foundation of secured investment grade debt at close Sprint has long term earnings growth expectation of 19 6 This Zacks Rank 3 Hold stock has returned 10 compared with the s growth of 18 9 year to date You can see 7 Best Stocks for the Next 30 Days Just released Experts distill 7 elite stocks from the current list of 220 Zacks Rank 1 Strong Buys They deem these tickers Most Likely for Early Price Pops Since 1988 the full list has beaten the market more than 2X over with an average gain of 24 50 per year So be sure to give these hand picked 7 your immediate attention |
VZ | Service Don t rely on Venezuela s state telecoms firm Cantv | By Angus Berwick BARINAS Venezuela Reuters When Ceferino Angulo heard screams and gunshots one night last year close to his dairy farm on the western plains of Venezuela he tried to call the police but there was no phone signal He was not surprised A phone tower built by state telecommunications firm Cantv on his land to provide coverage to his local area outside the western city of Barinas had stopped working The tower set in rolling grassland on his 57 acre farm was overgrown with vines snaking up its pylons Its guardhouse was abandoned almost a decade ago and no Cantv employee had visited in three months 54 year old Angulo said We ve spent four years incommunicado A telephone signal is one of the things we most need here he said In the decade since the government nationalized the 88 year old firm Cantv has cut investment in new technology skilled staff have departed and thieves have pillaged its equipment according to a dozen current and former Cantv employees and internal documents Venezuelan businesses struggle to operate because phone lines have stopped working worsening a five year economic crisis that has shrunk the Venezuelan economy People find it difficult to access healthcare or sign up for new passports because they cannot register online A Cantv spokeswoman declined to comment Cantv President Manuel Fernandez did not respond to emails and text messages Last year Fernandez said on a government website that Cantv was a powerful tool to give telecoms access to people and build the socialist state Internet use in the country had quadrupled since 2007 he said Cellphone connections are patchy across Venezuela however and people are reporting ever more network outages which the government has blamed on right wing saboteurs Barinas also the area where former Venezuelan President Hugo Chavez lived and studied as a youth has been one of the areas hardest hit by the deterioration in Cantv service In some places coverage has been completely lost Rusting service vehicles sit abandoned outside the phone company s local headquarters as it cannot afford new tires or batteries the current and former employees told Reuters Cantv s own offices there often spend days without internet they said Some of the rusted electrical circuits providing internet to Barinas homes have not been replaced since the early 1990s and several residents said they had gone over a year without a connection There is a crisis of investment said Jose Luis Machin Barinas former mayor A Cantv technician taking a Reuters journalist on a tour of the company s infrastructure in Barinas said over 100 meters 328 ft of copper cable had been stolen the night before from a bridge severing the neighborhood s connection Thieves melt down the copper or even sell the cables back to Cantv the technician and two other employees said For telecoms services Barinas nearly 300 000 residents now depend on network terminals built during the past few years by Chinese telecoms firms ZTE HK 0763 and Huawei On one block a ZTE terminal was considered so valuable that a guard from the National Bolivarian Militia a branch of the armed forces said he had been posted there to protect it from vandals FROZEN IN TIME Cantv founded in 1930 was re nationalized by President Chavez in 2007 as he moved to consolidate his socialist revolution The company was once Latin America s leader in the telecommunications sector It was majority owned by U S firm Verizon Communications NYSE VZ and traded on the New York stock exchange In the past it invested hundreds of millions of dollars in new technology each year attracted top talent and paid them generous salaries the former employees said Since its nationalization they said Cantv had filled thousands of vacated positions with unqualified staff The company has stopped upgrading its servers and maintenance on its fiber optic network was halted causing ever more frequent service disruptions they said Fernandez said last year that before its nationalization Cantv was an elitist U S controlled company which took its profits abroad instead of investing in the country According to the Speedtest Global index Venezuela ranks among the worst five countries for both mobile and broadband connection speeds Cantv had 2 45 million internet subscribers nearly 7 million fixed line subscribers and almost 14 million mobile subscribers by the end of 2015 according to internal data seen by Reuters The country s population is around 32 million Average salaries at Cantv are now worth less than 8 a month and pay often arrives late People who oppose the ruling Socialist Party do not get promotions employees said The company is frozen in time Jose Maria De Viana a former chairman of Cantv s mobile phone unit said Cantv publishes few financial details but a copy of its private results seen by Reuters for the January October 2016 period shows the company can no longer fund itself It was short 2 72 billion bolivars then the equivalent of 1 8 million to meet its investment target and needed 390 million bolivars in external funds to help cover the shortfall data in the documents showed Between 2013 and 2016 Cantv s payroll for its 15 000 employees quadrupled as the government lifted wages to compensate for inflation according to the report seen by Reuters Two executives with access to company data who resigned in recent months told Reuters that Cantv has to request funds from the central bank to pay its staff The company also suffers from the government s insistence that it keeps its fees low currently the equivalent of less than one dollar per month Cantv was dependent on agreements with ZTE and Huawei to supply equipment and staff and the firms were paid in dollars out of the Venezuela China Joint Fund a bilateral financing program the current and former employees said Cantv sends its employees to China to receive training they added President Nicolas Maduro has turned to ZTE in particular to implement technology projects Last week Reuters reported details of ZTE s role developing a new smart card ID that critics say Maduro is using as a tool to monitor the populace and allocate scarce resources to people his government deems most loyal Su Qingfeng the head of ZTE s Venezuela unit said in a phone interview that ZTE was not Cantv s biggest provider and received no preferential treatment with contracts A Huawei spokesman declined to comment on its relationship with Cantv Even Cantv s pro government union has complained about the company s serious problems In a private letter to members last year the Fetratel union chairman Jose David Mora wrote that Cantv could not obtain new equipment due to a lack of foreign currency He said the company was deep in debt to Chinese firms
There is total impunity for those that have bled this company dry he wrote citing zero confidence in the current leadership Fetratel did not respond to requests for comment |
VZ | Nokia StarHub perform Singapore 5G live trial | Nokia HE NOKIA NOK 0 5 and StarHub OTCPK SRHBY have wrapped the first end to end outdoor pilot of 5G New Radio using the 3 5 GHz band in Singapore The trial used live Nokia 5G cells and core network technology at StarHub headquarters Demos included replicating a manufacturing environment and use of video analytics to increase efficiency and minimize production errors and virtual reality sports viewing Now read |
VZ | Agfa Gevaert chooses Verizon for global network transformation | Agfa Gevaert is going with Verizon Enterprise Solutions VZ 2 2 for a global network transformation initiative Verizon s managed network services and software defined networking will take over net management from Agfa letting the imaging IT conglomerate focus on service and solution delivery Agfa is a longtime Verizon customer Now read |
VZ | Verizon Falls 3 | Investing com Verizon NYSE VZ fell by 3 26 to trade at 58 34 by 09 41 14 41 GMT on Monday on the NYSE exchange
The volume of Verizon shares traded since the start of the session was 2 36M Verizon has traded in a range of 58 33 to 59 75 on the day
The stock has traded at 60 7300 at its highest and 58 2900 at its lowest during the past seven days |
WMB | Venus overcomes illness to advance at Indian Wells | By Rory Carroll INDIAN WELLS Calif Reuters Venus Williams NYSE WMB played through illness to win a seesaw opening round match against German Andrea Petkovic 6 4 0 6 6 3 at the BNP Paribas PA BNPP Open on Thursday Williams who received medical attention from a trainer late in the first set saved her best tennis for the biggest moments breaking Petkovic for a sixth time in the final game to make up for a dismal second set Asked in an on court interview to describe the encounter the 38 year old former world number one was almost at a loss for words I don t know honestly I m still trying to figure it out she said to laughs from the crowd on a sunny and windy day in the California desert Every day is not your best day but that doesn t mean the heart and desire aren t there Thursday s match was just Williams seventh of the year and first since January s Australian Open where she fell to Simona Halep in the round of 32 The win sets up a mouthwatering second round clash with third seed Petra Kvitova who holds a 4 2 edge in their previous meetings In other first round winners on Thursday included Estonian Kaia Kanepi Japan s Misaki Doi American Madison Brengle and Russian Ekaterina Alexandrova |
WMB | Adidas to pay equal bonuses for women s soccer World Cup winners | Reuters Adidas sponsored players on the team that wins the FIFA Women s World Cup this year will receive the same performance bonus payments as their male counterparts the sportswear company said on Friday The announcement follows news that the U S women s national soccer team is suing their federation with allegations of gender discrimination where all 28 members of the squad were named as plaintiffs in federal court The lawsuit filed by the team includes complaints about wages The players said they had been consistently paid less than their male counterparts even though their performances have been superior Adidas head of global brands Eric Liedtke said the company wanted to help encourage the next generation of sportswomen Today we are announcing that all Adidas DE ADSGN athletes on the winning 2019 FIFA Women s World Cup team will receive the same performance bonus payout as their male peers Liedtke said in the statement We believe in inspiring and enabling the next generation of female athletes creators and leaders through breaking barriers The U S team s lawsuit has found support from prominent American tennis players past and present including Serena Williams NYSE WMB Bille Jean King and Sloane Stephens
While the men s soccer team failed to qualify for the World Cup in Russia last year the U S women s team will be defending their 2015 crown in France in June |
WMB | NBA roundup Rockets top 76ers for seventh straight win | James Harden scored 31 points Eric Gordon chipped in 17 with five 3 pointers and the Houston Rockets extended their winning streak to a season best seven games with their 107 91 victory over the visiting Philadelphia 76ers on Friday Harden added 10 rebounds seven assists and two steals for the Rockets who seized control with a 14 2 spurt midway through the first quarter Philadelphia played its eighth consecutive game without All Star center Joel Embiid left knee falling to 4 4 in that stretch A combination of lethargic defense and errant shooting did the 76ers in particularly early While Houston rolled to a 37 point opening period on 56 5 percent shooting Philadelphia missed all four of its 3 point attempts in the first quarter while shooting 10 of 24 41 7 percent overall The 76ers shooting did not improve throughout the course of the game with Philadelphia finishing 3 of 26 from behind the arc while shooting 36 8 percent from the floor Tobias Harris paced the 76ers with 22 points and nine rebounds Warriors 122 Nuggets 105 Klay Thompson poured in 27 of his game high 39 points in the first half Friday night allowing Golden State to run away from Denver en route to a blowout win in Oakland Calif The win allowed the Warriors to increase their lead over the Nuggets atop the Western Conference playoff race to two games Thompson sank 9 of 11 3 point attempts for Golden State which also got 26 points from Kevin Durant Malik Beasley and Monte Morris each scored 17 points to lead Denver Clippers 118 Thunder 110 Lou Williams NYSE WMB scored 40 points off the bench and Los Angeles defeated visiting Oklahoma City to move into sole possession of seventh place in the Western Conference Danilo Gallinari scored a season high 34 points and Ivica Zubac added 14 points and seven rebounds for the Clippers who have won seven of nine Oklahoma City s Russell Westbrook had 32 points eight rebounds and seven assists before fouling out with 54 seconds left and the Thunder trailing by three points Paul George scored 15 points on 5 for 16 shooting before fouling out with 3 49 left and the Thunder down a point Raptors 127 Pelicans 104 Kawhi Leonard scored 31 points and visiting Toronto pulled away from short handed New Orleans in the second half of a blowout victory Leonard scored 24 first half points and finished 14 of 20 from the floor Kyle Lowry added a triple double with 13 points 12 assists and 11 rebounds while Pascal Siakam scored 19 points The Pelicans played without three starters Jrue Holiday abdominal strain and E Twaun Moore quad contusion were ruled out for at least a week to 10 days and Anthony Davis was a last minute scratch because of back spasms Frank Johnson led New Orleans with 20 points Hornets 112 Wizards 111 Marvin Williams erupted for a season high 30 points and career high seven 3 pointers as Charlotte held on in the closing seconds for a victory over visiting Washington The Hornets won when Washington s Bradley Beal missed a drive in heavy traffic with three seconds remaining Jeremy Lamb had given the Hornets a 112 111 lead on a 3 pointer with 51 5 seconds remaining The Hornets had lost nine of their previous 12 Bobby Portis had 23 points and nine rebounds to lead the Wizards Beal scored 15 points but hit just 4 of 21 field goal attempts Pistons 112 Bulls 104 Blake Griffin scored 27 points including 16 in the fourth quarter and visiting Detroit rallied from a 21 point deficit to down Chicago Andre Drummond recorded his 11th 20 20 game this season with 20 points and 24 rebounds as the Pistons won for the 11th time in 13 games Reggie Jackson supplied 21 points Langston Galloway added 15 and Luke Kennard chipped in 14 Detroit outscored Chicago 43 24 in the decisive fourth quarter Zach LaVine led the Bulls with 24 points Otto Porter Jr supplied 23 points and eight assists while Lauri Markkanen added 18 points Chicago had three starters in double figures by halftime in racing to a 66 49 halftime lead before being outscored 63 38 in the second half Heat 126 Cavaliers 110 Dwyane Wade sparked a third quarter run and Miami scored 10 straight in the fourth quarter to pull away for a win over visiting Cleveland The Heat remain in eighth place in the Eastern Conference just ahead of Orlando and Charlotte both winners on Friday night The victory also was Miami s 16th straight against the Cavaliers at AmericanAirlines Arena Eight Heat players scored in double figures Josh Richardson led the way with 20 points Justise Winslow finished with 16 points nine rebounds and nine assists Collin Sexton paced Cleveland with 27 points and Jordan Clarkson added 21 Magic 111 Mavericks 106 Terrence Ross scored 22 points in his return from a one game absence caused by a sore left Achilles as host Orlando beat Dallas Orlando s Nikola Vucevic recorded his team high 48th double double of the season after collecting 20 points and 13 rebounds Aaron Gordon chipped in with 18 points and Ross went 6 for 11 from 3 point range for the Magic who have won nine of their last 13 games Dallas Dirk Nowitzki who finished with 15 points moved past John Stockton for third place all time in games played 1 505 in NBA history The 40 year old trails only Robert Parish 1 611 and Kareem Abdul Jabbar 1 560 Grizzlies 114 Jazz 104 Mike Conley scored 28 points and dished out 11 assists and Jonas Valanciunas added 27 points as host Memphis defeated Utah
The Grizzlies who beat the Jazz for the third time in four meetings this season shot 51 1 percent from the field and outscored Utah 60 34 in the paint Donovan Mitchell poured in 38 points while shooting 12 of 24 from the field to lead Utah Joe Ingles added 14 points seven assists and six rebounds for the Jazz and Jae Crowder had 11 points and 11 rebounds Field Level Media |
WMB | Thunder s George rips bad officiating after defeat | The Oklahoma City Thunder s Paul George did not hold back on his opinion of the referees in Friday night s 118 110 loss to the Los Angeles Clippers shortly after he fouled out of the game along with Russell Westbrook and Steven Adams over the final four minutes of the game It s just bad officiating George said I m sorry just bad officiating We don t get a fair whistle We haven t gotten a fair whistle all year Somebody s got to look into this It s getting out of hand where we somehow just walk teams to the line And there s nobody that gets more contact If I don t speak for myself I speak for Russ There s nobody that gets more contact than Russ going to the basket And it s just crazy I don t understand it It s a piece of expletive being on that floor The Clippers took 46 free throw attempts in the game with slashing guard Lou Williams NYSE WMB going to the foul line 24 times alone The Thunder had 26 free throw attempts as a team We re giving everything we got George continued We re playing hard We re getting grabbed We re getting scratched clawed held shoved And there s nothing for it The officials just get to walk out and there s nothing that penalizes them for not officiating the game the right way The Clippers are first in the league with 28 8 trips to the free throw line a game while the Thunder are third in the league at 25 9 The Thunder are called for 22 8 personal fouls per game fourth most in the NBA Too much fouling Thunder head coach Billy Donovan said Our guys are playing hard and competing but like there is no reason for Lou Williams to get to the free throw line 20 times We ve got to know that And like our guys are playing really hard and are really competing but we are fouling too much away from the ball when we don t have to According to ESPN Friday s game was just the second in 10 years where three starters from the same team fouled out in regulation time of a game The last was Feb 12 2014 when it happened to the Washington Wizards In the last 20 seasons just three teams have seen two All Stars foul out in a single game George fouled out with 3 49 to play Westbrook had to leave with 54 2 seconds remaining and Adams took a seat with 9 2 seconds remaining
To play without fouling is tough sometimes Westbrook told reporters A lot of those guys like play to get fouled That is how the game is nowadays It s not really basketball You re just playing to get fouled to see what happens Field Level Media |
WMB | Soccer U S women s head coach Ellis supports players lawsuit | By Amy Tennery NEW YORK Reuters U S women s national soccer team coach Jill Ellis threw her support behind her players on Saturday after all 28 members of the reigning World Cup champions squad filed a suit against U S Soccer for gender discrimination The lawsuit alleges that the women players were paid less than their male counterparts despite performing better and were provided with inferior playing and training conditions I m definitely in support Ellis told reporters adding that the players called her before announcing the lawsuit but did not discuss it with her ahead of filing it Ellis who as head coach is employed by the U S soccer federation is in a unique position as both a representative of the players and the athletic body targeted in the lawsuit I recognize moments where we have to continue to push the envelope Ellis said It s not hard to navigate because I m in that world and my players know I support them The lawsuit rekindled the debate around gender pay equality and garnered the support of sports biggest stars including 23 times tennis grand slam champion Serena Williams NYSE WMB The pay gap has been there for a very long time And this is across all industries And soccer was no different said two times gold medalist Aly Wagner who was part of the 2008 Olympic team with plaintiffs Tobin Heath and Carli Lloyd I know what we went through when I was playing Wagner said Things weren t always equitable The U S women s national soccer team a stalwart of American athletics with three World Cup titles and four Olympic gold medals to their name will enter this year s women s World Cup in June among the favorites to win the tournament Leslie Osborne who played for the U S women s team in the 2007 World Cup said the suit was overdue The players know that they have leverage going into this next women s World Cup Osborne said I think the fact that they are doing this and every single player is doing it together is so strong and their voice is going to be heard regardless she added
And people from all over the world are watching this team go through this |
WMB | NBA notebook Harden expected to play Sunday | Houston Rockets guard James Harden will play Sunday at the Dallas Mavericks after precautionary X rays came back negative on his right wrist and he was cleared to practice on Saturday Harden the NBA s scoring leader 36 6 points per game aggravated the wrist injury Friday night when he fell in the first half of a win over the Philadelphia 76ers He left briefly but returned and finished with 31 points in 32 minutes Harden who is left handed first hurt the wrist on March 3 against the Boston Celtics He has missed just four games to injury this year and only one since Nov 2 The Rockets who are finally healthy elsewhere on the roster have won seven straight games to move into third place in the Western Conference They sit three games back of Denver for the second spot and five games back of first place Golden State Los Angeles Lakers forward Brandon Ingram is expected to miss the rest of the regular season after the team s medical staff revealed a deep venous thrombosis in his right arm the team announced The third year wing had missed the last two games due to shoulder soreness before further testing revealed the new diagnosis Meanwhile multiple reports indicate second year Lakers guard Lonzo Ball has also been shut down for the remainder of the season after having his injured left ankle re evaluated Ball has missed the team s last 18 games as a result of the injury The NBA fined Oklahoma City star Paul George 25 000 for his criticism of the officiating following the Thunder s 118 110 loss to the Clippers on Friday night in Los Angeles George and teammates Russell Westbrook and Steven Adams all fouled out over the final four minutes of the game and George called it bad officiating and said the Thunder don t get a fair whistle We haven t gotten a fair whistle all year The Clippers took 46 free throw attempts in the game with Lou Williams NYSE WMB and Danilo Gallinari each going to the foul line 15 times The Thunder had 26 free throw attempts as a team The Minnesota Timberwolves signed Cameron Reynolds to a second 10 day contract that will keep the forward with the team at least through the middle of March Reynolds who went undrafted out of Tulane in 2018 was signed to his first 10 day contract Feb 27 after he averaged 16 0 points with 4 3 rebounds and 1 2 assists with the Stockton Kings of the NBA G League He has scored four points in seven minutes of two games with Minnesota In four games with the USA Men s World Cup Qualifying Team Reynolds shot 45 9 percent from the field and 41 9 percent from 3 point range In a Feb 22 victory over Panama he had 26 points on 10 of 17 shooting from the field and made 6 of 11 shots from 3 point range Field Level Media |
VZ | Verizon Nears New Record Can It Last | Verizon NYSE VZ stock reached its all time high twenty years ago in October 1999 The dot com bubble was at full swing and few questioned the validity of the bullish thesis Stocks were supposed to never stop rising and make everyone rich Unfortunately the bulls gave up as soon as Verizon touched 64
Nine years later in October 2008 VZ stock was barely holding above 21 50 The in the US lost two thirds of its market value in less than a decade And just when the future looked the bleakest the bulls finally returned
Verizon NYSE VZ closed slightly below 60 a share yesterday It is now within a striking distance of a new record twenty years after reaching the previous one The only question is can it last this time The chart below doesn t look very encouraging
Verizon s weekly chart reveals the stock s entire 11 year recovery since October 2008 It looks like a classic labeled 1 2 3 4 5 Wave 3 is extended and its five sub waves are also visible Wave 5 on the other hand is an
The theory states that a three wave correction in the other direction follows every impulse If this count is correct a bearish reversal can lead to a notable decline in the years ahead The support area near 43 a share looks like a natural target for the bears once wave 5 of 5 is over
Whether Verizon NYSE VZ will make a new all time high or not is not very important What matters is that even if it does the uptrend probably won t continue for very long We think the near 65 a share can cause a 30 35 plunge Global recession fears only make the bearish case stronger |
VZ | FCC launches first U S high band 5G spectrum auction | By David Shepardson Reuters The Federal Communications Commission on Wednesday launched the agency s first high band 5G spectrum auction as it works to clear space for next generation faster networks Bidding is beginning on Wednesday on spectrum in the 28 GHz band and will be followed by bidding for spectrum in the 24 GHz band The FCC is making 1 55 gigahertz of spectrum available and the auctions will be followed by a 2019 auction of three more millimeter wave spectrum bands 37 GHz 39 GHz and 47 GHz These airwaves will be critical in deploying 5G services and applications FCC Chairman Ajit Pai said on Wednesday who disclosed the planned auction in February 5G networks are expected to be at least 100 times faster than current 4G networks and cut latency or delays to less than one thousandth of a second from one hundredth of a second in 4G and allowing for innovations in a number of different fields While millimeter wave spectrum offers faster speeds it cannot cover big geographic areas and will require significant new small cell infrastructure deployments FCC Commissioner Brendan Carr said the spectrum being auctioned will allow for faster broadband to autonomous cars from smart ag agriculture to telehealth The spectrum being auctioned over the next 15 months is more spectrum than is currently used for terrestrial mobile broadband by all wireless service providers combined the FCC said Democratic FCC Commissioner Jessica Rosenworcel said the United States was following the lead of South Korea the United Kingdom Spain Italy Ireland and Australia But we put ourselves back in the running for next generation wireless leadership and called on the FCC to clearly state the timing for future spectrum auctions Last month U S President Donald Trump signed a presidential memorandum directing the Commerce Department to develop a long term comprehensive national spectrum strategy to prepare for the introduction of 5G Trump is also creating a White House Spectrum Strategy Task Force and wants federal agencies to report on government spectrum needs and review how spectrum can be shared with private sector users
AT T Inc N T Verizon Communications Inc N VZ Sprint Corp N S and T Mobile US Inc O TMUS are working to acquire spectrum and are developing and testing 5G networks The first 5G compatible commercial cell phones are expected to go on sale next year |
VZ | Maxar holders approve of U S domestication | Shareholders in Maxar Technologies NYSE MAXR have approved the company s U S domestication the company says Some 227 holders of common shares making up 76 of issued and outstanding share ownership voted in the meeting with 99 8 in favor of domestication Following the effective date expected on or about Jan 1 Maxar will continue to list shares on NYSE and the Toronto Stock Exchange and it will transition to U S GAAP accounting standards and domestic securities filings That should provide increased compatibility with peers in the U S aerospace and defense industry it says Now read |
WMB | NHL roundup Bruins OT win extends streak | David Krejci scored early in overtime and also had an assist as the Boston Bruins rallied to extend their point streak to 17 games with a 4 3 win over the visiting Carolina Hurricanes on Tuesday night Krejci scored 1 46 into the extra session as the Bruins capped their comeback from a 2 0 deficit to improve to 13 0 4 since a 3 2 regulation loss to the New York Rangers on Jan 19 It s the longest point streak in the NHL this season Boston took a 3 2 lead at 2 45 into the third when Patrice Bergeron one timed a pass from Brad Marchand off a two on one break for a short handed goal Carolina however equalized with 7 43 left in regulation as Justin Williams NYSE WMB delivered a blast from the right circle Sebastian Aho matched a career high with 29 goals after scoring two for Carolina which had won five in a row and 13 of 16 Lightning 5 Jets 2 Steven Stamkos and Adam Erne each had a goal and an assist Nikita Kucherov tied the team record for points in a season and Tampa Bay beat Winnipeg to extend its home winning streak to eight games Mathieu Joseph posted two assists and Yanni Gourde Cedric Paquette and Brayden Point found the net for the Lightning who won for the 12th time in their past 13 games Kucherov s two assists pushed him to 108 points tying the franchise mark for a season with Vincent Lecavalier 2006 07 Andrei Vasilevskiy made 30 saves to win his 10th straight start Islanders 5 Senators 4 SO Jordan Eberle and Mathew Barzal scored in the shootout as New York overcame the loss of goaltender Robin Lehner late in the third period and edged Ottawa at Uniondale N Y Thomas Greiss made two saves and was awarded the win after replacing Lehner who exited with an undisclosed injury with 4 40 remaining Brady Tkachuk barreled into Lehner after getting by Brock Nelson at the right side of the crease The victory was the 800th of Islanders coach Barry Trotz s career He s the fourth coach to reach that mark Predators 5 Wild 4 SO Ryan Johansen scored the winner in the fourth round of the shootout as Nashville defeated visiting Minnesota to move into first place in the Central Division Craig Smith Brian Boyle Roman Josi and Victor Arvidsson scored in regulation for the Predators who swept the home and home series after beating the Wild 3 2 in a shootout Sunday in Minnesota Goaltender Pekka Rinne made 29 saves plus stopped all four Wild attempts in the shootout Minnesota s Kevin Fiala scored twice in his return to Nashville after being dealt last week at the trading deadline Pontus Aberg and Eric Fehr also scored for the Wild which extended their points streak to a season high seven games and goalie Devan Dubnyk stopped 21 shots Blue Jackets 2 Devils 1 SO Cam Atkinson scored his career high 36th goal in regulation and converted in a shootout as Columbus skated past New Jersey at Newark N J In the first round of the shootout New Jersey s Blake Coleman missed his attempt Atkinson then skated wide before backhanding the puck past Cory Schneider 17 saves and inside the left post After Blue Jackets goalie Sergei Bobrovsky 29 saves poke checked the puck away from Drew Stafford in the second round Artemi Panarin beat Schneider between the pads to seal the win for a Columbus club that registered a season low 18 shots on goal Penguins 3 Panthers 2 OT Jake Guentzel s second goal of the game at 2 44 of overtime gave Pittsburgh a win over visiting Florida Guentzel took a pass from Sidney Crosby and outbattled Florida s Michael Matheson at the blue line drove down the slot and backhanded the puck past goaltender Roberto Luongo for his 33rd goal Crosby who earlier in the game reached the 1 200 point level of his career had a goal and two assists Henrik Borgstrom and Vincent Trocheck scored for Florida Stars 1 Rangers 0 John Klingberg scored a goal and Ben Bishop made 28 saves for his fourth shutout of the season as Dallas outlasted visiting New York Klingberg lit the lamp for Dallas 1 16 into the second period when he collected a pass from fellow defenseman Miro Heiskanen and fired a wrist shot past New York rookie goaltender Alexandar Georgiev off the post and into the net Georgiev stopped 31 of the 32 shots he faced Avalanche 4 Red Wings 3 OT Nathan MacKinnon scored 2 29 into overtime and Colorado rallied to beat Detroit in Denver Mikko Rantanen had a goal and two assists Tyson Barrie had a goal and an assist and J T Compher also scored for the Avalanche Colorado s Semyon Varlamov stopped 20 shots Niklas Kronwall Danny DeKeyser and Filip Zadina scored for the Red Wings who have gone 0 5 3 over their last eight games Jonathan Bernier had 30 saves Ducks 3 Coyotes 1 Jakob Silfverberg had a goal and an assist for the second consecutive game and Anaheim beat Arizona in Glendale Ariz to snap the Coyotes six game winning streak Adam Henrique and Troy Terry also scored and Ryan Miller made 22 saves for the Ducks
Lawson Crouse scored and Darcy Kuemper made 28 saves for the Coyotes who fell three points back of the Minnesota Wild for the second wild card from the Western Conference Field Level Media |
WMB | Netanyahu election rival pledges to separate from Palestinians | By Dan Williams NYSE WMB JERUSALEM Reuters The centrist Blue and White party posing the biggest election challenge to Israeli Prime Minister Benjamin Netanyahu pledged a policy of separation from Palestinians in occupied land on Wednesday but stopped short of backing their goal of statehood However the party s number two former finance minister Yair Lapid predicted that parting ways with the Palestinians would eventually lead to them having a state of their own alongside Israel Netanyahu and fellow rightists have cast themselves as blockers of any initiative to cede territory to the Palestinians Blue and White led by former armed forces chief Benny Gantz has hedged on the issue for weeks as it gained ground in opinion polls ahead of the April 9 election In its inaugural platform published on Wednesday Blue and White said that once in power it would confer with Arab states and intensify the process of separation from the Palestinians while ensuring an uncompromising commitment to Israel s national security The policy blueprint envisages Israel retaining control of the Jordan Valley and blocs of Jewish settlements in the West Bank but remains hazy on what might be done with more isolated outposts in territory captured in the 1967 Middle East war Pressed on this Lapid told Israel s Ynet TV I believe that in separating from the Palestinians we will ultimately arrive at two states But no responsible politician would get into details before the Trump plan is presented U S President Donald Trump is widely expected to make public a peace plan after the Israeli election Asked if Lapid s remarks reflected Blue and White policy a party spokeswoman said she could not elaborate on the platform Opinion polls give Blue and White around 35 of parliament s 120 seats against 30 for Netanyahu s Likud party Palestinians were circumspect What does he Lapid mean by a state asked Wasel Abu Youssef an official in the umbrella Palestine Liberation Organization We want a Palestinian sovereign state on the 1967 borders with East Jerusalem as its capital empty of settlements with territories that are connected not isolated In 2009 pressured by the Obama administration Netanyahu said he would accept a Palestinian state under several provisos But with U S sponsored peace talks stalled since 2014 he has shifted tone vowing never to uproot West Bank settlements A Palestinian state would endanger our existence the prime minister said in speech last month This is what they Gantz and Lapid are planning to do They obscure it They hide it Most world powers deem the settlements illegal and support independence for the Palestinians who want statehood in the West Bank and Gaza Strip with East Jerusalem as their capital
Israel pulled settlers and soldiers out of Gaza in 2005 It annexed East Jerusalem after the 1967 war in a move that has not won international recognition and regards all of the city as its capital Blue and White echoed this position in its platform |
WMB | Fed s Williams says slower U S growth is a new normal | By Trevor Hunnicutt NEW YORK Reuters Slower U S economic growth is not necessarily cause for alarm but a new normal people should expect a top Federal Reserve official said on Wednesday adding that he is not leaning one way or another on where rates should go New York Fed President John Williams NYSE WMB has slightly marked down forecasts for economic growth to around 2 percent as violent markets late last year constrain consumer and business spending now But Williams told the Economic Club of New York that the as good as it gets result would be right on target with the potential growth in the United States lower than prior years because of slower gains in worker productivity and a declining workforce That justifies current interest rates he said which are at a neutral level that neither encourages nor discourages economic activity I want to see wage growth higher it s a sign of a strong economy rather than a harbinger of troubling inflation Williams told reporters The Fed is also partly responsible for the markets improvement in recent weeks and financial stability risks are in a normal range he suggested Part of that is the reassessment of monetary policy he said If we hadn t shifted our communication around the likely path of interest rates I don t think financial conditions would have responded as much as they have Williams is a permanent voting member of the Fed s rate setting Federal Open Market Committee and leader of the regional bank charged with implementing that policy The committee meets March 19 20 to chart future policies but markets have written out the chance that a rate hike would be in the cards anytime soon especially given the chance that weakening Chinese and European economies could spoil the world s largest economy In fact despite what Williams characterized as a relatively strong forecast most questions for the central banker focused on how policymakers would deal with an unexpected pullback And Williams conceded that the Fed needs to consider the consequences of a central bank failing to meet its inflation target for an extended period one subject of a longer term policy review this year that may see the Fed welcome inflation that is slightly and temporarily over its target No decisions have been made yet But Williams told reporters that even if the economy delivers strong performance a rate cut could be justified if inflation trends down in sustained fashion which is not in his forecast The policymaker told Reuters last month that he sees no need to raise rates again this year unless economic growth or inflation shifts to an unexpectedly higher gear Williams said that buying bonds and other assets would be on the table in a downbeat economic scenario that drove rates to zero again as would negative rates though he suggested the second option may impose unacceptable costs The considerations are more than academic in this new normal The European Central Bank which just ended a historic 2 6 trillion euro bond buying program aimed at pushing down borrowing costs is already contemplating new support measures with the first possibly coming at its next policy meeting on Thursday The Fed which used similarly unusual bond buying tactics after the 2008 global financial crisis has been letting those assets decline in an effort to return to normal But a complete return to normal now seems unlikely anytime soon
Fed Chair Jerome Powell said last month that the bond shrinkage would stop later this year Williams on Wednesday declined to offer a specific timetable A decision is coming soon he said |
WMB | Kvitova says meeting with Seles was key after attack | By Rory Carroll INDIAN WELLS Calif Reuters Petra Kvitova says a meeting with former world number one Monica Seles at Wimbledon last year where they discussed returning to the sport after a knife attack had been one of the most important of her life Kvitova suffered cuts to her left hand while defending herself during a home invasion in 2016 while Seles was stabbed in the back during a match in Hamburg in 1993 which kept her off the court for more than two years We met each other and decided we were looking to talk about what we d been through the Australian Open finalist told reporters at the BNP Paribas PA BNPP Open at Indian Wells on Wednesday It was nice to meet someone who has been through something very similar she said It was a big surprise that she wanted to talk with me and say nice words It was one of the biggest things I ve ever heard and from such a legend to hear what happened to her Seles returned to the game after the attack and won the 1996 Australian Open but never fully regained the dominant form that saw her win nine majors as a teenager Kvitova completed her recovery which required surgery ahead of schedule but said she was not sure she would ever be able to completely put the attack behind her With my experience I am not sure if I am going to be 100 percent one day and I m not sure if she is either she said But hopefully she is happy and can enjoy her life as much as she can Kvitova a two time Wimbledon champion who is currently ranked third in the world fell to world number one Naomi Osaka in the Australian Open final in January and to Belinda Bencic in the final of last month s Dubai Tennis Championships
The powerful lefty will look to win her 27th WTA title when she takes on either Venus Williams NYSE WMB or Andrea Petkovic on Friday in her first match of the tournament where she is the third seed |
WMB | Azarenka Konta cruise into second round at Indian Wells | By Rory Carroll INDIAN WELLS Calif Reuters Former world number one Victoria Azarenka dismissed Vera Lapko 6 2 6 3 to set up a second round clash with Serena Williams NYSE WMB while Johanna Konta cruised to a straight sets win in opening round action at the BNP Paribas PA BNPP Open on Wednesday After falling behind 2 0 at the start Azarenka reeled off six straight games and ultimately made quick work of Lapko on a windy day in the California desert Konta s pinpoint serving proved too much for France s Pauline Parmentier to handle as the Briton coasted to a 6 2 6 3 win to set up a second round clash with Hsieh Su wei of Taiwan Two young Americans also advanced on Wednesday as 17 year old Amanda Anisimova crushed Serbia s Aleksandra Krunic 6 0 6 4 and 20 year old Sofia Kenin came from behind to dispatch China s Wang Yafan 1 6 7 5 6 4 Canadian Bianca Andreescu fresh off her semi final appearance at the Mexican Open in Acapulco last week defeated Irina Camelia Begu of Romania 6 7 3 6 3 6 3 to set up a second round battle with Dominika Cibulkova
Czech Barbora Strycova China s Zhang Shuai American Jennifer Brady and German Tatjana Maria were among the other players to advance at the event in Indian Wells |
WMB | NBA roundup Lakers lose as LeBron passes Jordan for career points | LeBron James passed Michael Jordan to move into fourth place on the NBA career scoring list but the host Los Angeles Lakers lost their fourth straight in a 115 99 loss to the Denver Nuggets on Wednesday night James who finished with 31 points entered the night 12 behind Jordan s career total of 32 292 points Next on the list is Kobe Bryant who finished his career with 33 643 points James tied Jordan on a 19 foot jumper in the second quarter passing the Hall of Famer when he drove for a left handed layup Will Barton had 23 points and Nikola Jokic finished with 12 points 17 rebounds and eight assists for Denver Jamal Murray and Gary Harris scored 19 points each to help the Nuggets avoid blowing a 23 point lead Denver ended a three game skid and moved within a game of Golden State for the top seed in the Western Conference Denver visits the Warriors on Friday night Celtics 111 Kings 109 Gordon Hayward avenged a critical foul 5 6 seconds earlier by sinking a tiebreaking jumper with two seconds remaining giving Boston a close victory over host Sacramento Al Horford recorded 21 points and a game high 11 rebounds while also finding time for a team high seven assists as the Celtics completed a back to back sweep in Northern California after shellacking the Golden State Warriors 128 95 on Tuesday night Harrison Barnes had a team high 24 points for the Kings who wrapped up a 1 3 homestand Celtics All Star Kyrie Irving sat out with a bruised left thigh one night after having 19 points and 11 assists in Boston s romp at Golden State Bulls 108 76ers 107 Zach LaVine s driving layup with 1 6 seconds left in the game lifted Chicago to a tight win over visiting Philadelphia Butler made two free throws with 4 8 seconds left to give the 76ers a 107 106 lead Chicago called timeout and LaVine drove the lane practically uncontested to score the winning basket after a defensive switch gone wrong He was fouled by Mike Scott but missed the free throw LaVine finished with 39 points on 14 of 26 shooting from the field He scored 24 of his points in the second half Butler scored 22 points to lead five Philadelphia players in double figures Simmons the reigning Eastern Conference Player of the Week compiled 18 points 11 rebounds and seven assists Spurs 111 Hawks 104 LaMarcus Aldridge racked up 32 points including a pair of big baskets in the final two minutes as visiting San Antonio defeated Atlanta to capture its fourth straight win Derrick White added 18 points six rebounds nine assists and a career high six blocked shots for San Antonio DeRozan scored 14 points while Patty Mills Rudy Gay and Bertans hit for 12 points each for the Spurs Gay also grabbed a team high 11 rebounds in the victory Young led the Hawks with 22 points 20 of them in the second half John Collins scored 18 points and grabbed 10 rebounds for the Hawks Kent Bazemore hit for 12 points Alex Len tallied 11 and Vince Carter contributed 10 points for Atlanta which lost its second consecutive contest and third in the past four Jazz 114 Pelicans 104 Derrick Favors scored 25 points and visiting Utah ended New Orleans three game winning streak Rudy Gobert added 22 points and 13 rebounds and Donovan Mitchell scored 22 for the Jazz who had lost at home to the Pelicans 115 112 on Monday The Jazz won for the fifth time in their past six games overall and the eighth time in the past 10 meetings with the Pelicans Julius Randle scored 23 points Jrue Holiday and Anthony Davis added 16 each Frank Jackson scored 13 and Kenrich Williams NYSE WMB had 12 to lead the Pelicans Heat 91 Hornets 84 Kelly Olynyk scored 22 points and Hassan Whiteside came off the bench for 18 points and 15 rebounds as visiting Miami emerged in a playoff atmosphere with a critical win over Charlotte The teams entered the game with identical 29 34 records so the win allowed the Heat to take sole possession of eighth place in the Eastern Conference playoff race The Heat have now won three straight and four of their last five The Heat also got 13 points from Josh Richardson and 10 from Bam Adebayo Dwyane Wade in his final game at the Spectrum Center scored eight on 4 of 15 shooting from the field Kemba Walker and Frank Kaminsky led the Hornets with 20 points apiece although Walker was just 5 of 17 from the field Pistons 131 Timberwolves 114 Andre Drummond erupted for 31 points and 15 rebounds and Detroit won for the 10th time in 12 games by downing visiting Minnesota Drummond s point total was two shy of his career best Detroit s bench also played a major hand in the victory which put the Pistons over the 500 mark for the first time since Dec 19 Luke Kennard had 21 points and Ish Smith supplied 19 points five rebounds and five assists Karl Anthony Towns led Minnesota with 24 points before fouling out Andrew Wiggins had 18 points and Jeff Teague contributed 15 points and eight assists Timberwolves forward Taj Gibson was ejected with 10 07 remaining for elbowing Drummond in the face being called for a Flagrant 2 foul Wizards 132 Mavericks 123 Bradley Beal scored 30 points and Washington Wizards pulled away late for a win over visiting Dallas Trevor Ariza added 22 points and Jabari Parker scored 20 points for Washington which has won three of four and sits 11th in the Eastern Conference Parker made his final 10 shots after missing his first attempt Beal hit 11 of 19 shots in registering his 17th 30 plus point game since Dec 1 Luka Doncic had 31 points 11 rebounds and seven assists for the Mavericks who have lost eight of their past nine games Dwight Powell added 26 points and 10 rebounds for Dallas Dirk Nowitzki scored two points in what was likely his last game in Washington Nets 113 Cavaliers 107 Reserve Spencer Dinwiddie scored 28 points and Brooklyn overcame a lackluster third quarter gained control midway through the fourth and held on for a win over Cleveland in New York Dinwiddie recorded his team record 14th game with at least 20 points off the bench this season He shot 10 of 21 from the floor The Nets won their second straight game by overcoming an ugly third quarter in which they were outscored 35 25 Love scored 21 of his 24 points after halftime and pulled down 16 rebounds for Cleveland which shot 40 2 percent from the field and committed 18 turnovers David Nwaba finished with a career high 22 points for the Cavaliers Suns 107 Knicks 96 Devin Booker scored a season high 41 points including nine straight on three consecutive 3 pointers spanning the second and third quarters that gave Phoenix the lead for good in beating visiting New York in a battle of the two worst teams in the NBA The Suns 15 51 have won three straight one shy of their season high to drop 1 1 2 games behind the Knicks 13 52 in the race for the worst record in the NBA The teams with the three worst records will all have a 14 percent chance of landing the No 1 overall pick in the NBA Draft Lottery on May 14
DeAndre Jordan had a double double 17 points 14 rebounds for the Knicks who have gone 3 5 since a single season franchise record 18 game losing streak Field Level Media |
WMB | Far rightists cleared for Israel election Arab party blocked | By Dan Williams NYSE WMB JERUSALEM Reuters Israel s election board has approved far right Jewish candidates accused by rivals of racism for next month s election while disqualifying an Arab party that Prime Minister Benjamin Netanyahu said supported terrorism The Central Elections Committee s decisions taken late on Wednesday were unlikely to be implemented before court appeals but stoked an already acrimonious race for the April 9 vote Facing a corruption case and a merger of centrist parties that could defeat him the conservative Netanyahu has allied with an ultra nationalist list that includes the Jewish Power party to boost his chances The elections committee made up of members of the outgoing parliament struck down motions that had sought to bar as racist Jewish Power s Michael Ben Ari and Itamar Ben Gvir who are adherents of late anti Arab rabbi Meir Kahane Left wing party Meretz said it would appeal along with center left Labour to the Supreme Court against the decision to let the Jewish Power candidates stand The committee also voted 17 10 to bar Arab party Balad from the election in accordance with a motion filed by Netanyahu s ruling Likud party Likud says Balad wants to eliminate Israel as a Jewish state and backs Palestinian and Lebanese militants Those who support terrorism will not be in the Israeli Knesset Netanyahu wrote on Twitter Balad describes itself as a democratic movement opposed to Zionism and Israel s occupation of Palestinian territory It now holds four seats as part of the 12 member United Arab List representing members of Israel s Arab minority COURT APPEAL The list s leader Mansour Abbas rejected the terrorism charge and said Balad would also appeal We undergo this travesty during every election campaign In the end the Supreme Court voids the Elections Committee s political populist decisions he told Army Radio on Thursday The Supreme Court did reinstate Balad after it was disqualified in 2009 Israel has in the past prosecuted two Balad figures for contacts with Palestinian militants and accused a former party leader of helping Hezbollah guerrillas during the 2006 Lebanon war prompting him to emigrate to Qatar Netanyahu is battling for political survival after Israel s attorney general said last week he plans to indict him in three corruption cases He denies wrongdoing His alliance has brought rare censure from the U S pro Israel lobby and normally staunch Netanyahu backer AIPAC which called Jewish Power a racist and reprehensible party Jewish Power leaders call themselves successors to Kahane a U S born rabbi who served one term in parliament in the 1980s before his Kach party was banned by Israel as racist Washington branded the party a terrorist organization Kahane who was assassinated in New York in 1990 by an Egyptian born American gunman advocated the transfer of Palestinians to neighboring Arab countries and a ban on intermarriage between Israeli Jews and Arabs Jewish Power currently has no parliament members having not won enough votes in the previous elections No single party has ever won a majority in the 120 member Knesset and post election coalition talks determine the shape of the government and its leader
Opinion polls predict a second place finish for Likud with 30 parliamentary seats compared with 35 for a new party the centrist Blue and White led by former armed forces chief Benny Gantz But the surveys said it was still unclear which party would be able to put together a governing coalition |
WMB | Draghi Slashes ECB Outlook as Officials Inject More Stimulus | Bloomberg Want the lowdown on European markets In your inbox before the open every day Sign up here
Mario Draghi revealed the biggest cut in the European Central Bank s economic outlook since the advent of its quantitative easing program as policy makers delivered a new round of stimulus to shore up growth
The ECB President said the euro zone economy will now expand only 1 1 percent this year a drop of 0 6 percentage point from the forecast given out just three months ago A package of assistance from new loans for banks to a longer pledge on record low rates is intended to expand the institution s existing stimulus he said
The persistence of uncertainties related to geopolitical factors the threat of protectionism and vulnerabilities in emerging markets appears to be leaving marks on economic sentiment Draghi told journalists in Frankfurt on Thursday The risks surrounding the euro area growth outlook are still tilted to the downside
The ECB is reverting to stimulus just three months after policy makers decided to end their bond buying program and hoped to start weaning the euro area economy off its crisis era stimulus Their luck ran out after the export dependent European economy buckled under the weight of trade tensions a slowdown in China and the uncertainties around Brexit
While many anticipated the ECB would act an announcement wasn t expected as early as Thursday That signals the level of concern among Governing Council members something that s been echoed across other institutions and central banks in recent days
The OECD slashed its forecasts for European and global growth the Bank of Canada said there s increased uncertainty about the timing of its future rate increases and New York Federal Reserve President John Williams NYSE WMB said the U S central bank can be patient about deciding its next move
What Bloomberg s Economists Say
The Governing Council s decision today shows it s taking the slowdown in the euro area economy seriously Assuming no big shock from trade policy Brexit or a re escalation of tension between Rome and Brussels conditions should be right for the first rate hike in March 2020
Jamie Murray and David Powell economistsClick here to view the research
The ECB s main move was to revive its Targeted Longer Term Refinancing Operations with the intention of encouraging banks to provide credit to businesses and customers The loans will have a maturity of two years and the interest rate will be indexed to the main refinancing rate over the life of each operation Similar to previous offers the program will have built in incentives to keep credit conditions favorable
On rates it said they ll stay at current record low levels at least through the end of the year several months later than they previously guided |
WMB | NFL notebook Keenum reportedly headed to D C | The Washington Redskins and Denver Broncos have agreed to a trade that will send displaced starting quarterback Case Keenum to D C multiple outlets reported Thursday The Broncos will reportedly send a 2020 seventh round pick for Washington s 2020 sixth rounder as part of the deal According to 9News Denver Keenum s contract will be reworked from the 18 million due in 2019 to a 7 5 million salary next season with Denver paying 4 million of that figure NFL Network reported Keenum was Washington s preferred option among available quarterbacks to compete with Colt McCoy while Alex Smith tries to return from a compound fracture in his right leg suffered last November The Broncos who will acquire Joe Flacco from the Baltimore Ravens at the start of the new league year will save an additional 3 million by trading Keenum Oakland Raiders officials are not yet sold on giving up precious draft capital to acquire Pittsburgh Steelers wide receiver Antonio Brown and a potential trade between the teams could be on thin ice the Las Vegas Review Journal reported Brown is expected to fetch a high pick perhaps a first round selection and the Raiders have three picks in the first round of the 2019 NFL Draft The Cleveland Browns and New York Jets also reportedly kicked the tires on a deal for Brown who has six consecutive 100 catch seasons but fell out of favor in Pittsburgh at the end of last season The Steelers did announce they have agreed to deals with seven time Pro Bowl lineman Maurkice Pouncey reportedly making him the NFL s highest paid center and guard Ramon Foster Pouncey s new three year contract runs through 2021 and is worth a reported 29 million Foster s two year deal is reportedly worth 8 25 million and will run through 2020 New England Patriots owner Robert Kraft will not have to appear at his March 28 arraignment in Florida on two misdemeanor charges of soliciting prostitution his lawyer said The 77 year old Kraft allegedly visited a day spa in Jupiter Fla twice in January and paid for sex acts He could face one year in jail a 5 000 fine 100 hours of community service and attendance in a human trafficking dangers class He has pleaded not guilty Tight end Nick Boyle most valued for his blocking particularly in the Baltimore Ravens run heavy offense agreed to a three year extension with the club the team announced The deal is worth a reported 18 million with 10 million in guarantees The Chicago Bears are reportedly in dialog with multiple teams about trading running back Jordan Howard who is entering the final season of his rookie contract A fifth round pick Indiana in 2016 Howard rushed for 1 313 yards and scored seven touchdowns as a rookie Other comings and goings Miami could release defensive end Robert Quinn wide receiver DeVante Parker and quarterback Ryan Tannehill if the team doesn t find trade takers according to the Miami Herald The San Francisco 49ers declined the 2019 option on receiver Pierre Garcon but picked up 2019 options for fullback Kyle Juszczyk defensive end Cassius Marsh linebacker Dekoda Watson and cornerback K Waun Williams NYSE WMB The Tampa Bay Buccaneers picked up the 3 975 million option on right tackle Demar Dotson The New York Giants re signed Pro Bowl kicker Aldrick Rosas who connected on 32 of 33 field goal attempts and 31 of 32 extra point tries last season The Dallas Cowboys are bringing back safety Darian Thompson on a one year deal after declining to tender him as a restricted free agent ESPN reported The Raiders reportedly tendered three of their restricted free agents ahead of free agency next week cornerback Daryl Worley running back Jalen Richard and undrafted safety Erik Harris
The Tennessee Titans announced they have agreed on a multiyear extension with Pro Bowl punter Brett Kern for a reported four years and 12 55 million Denver re signed Pro Bowl long snapper Casey Kreiter to a one year contract worth a reported 1 million the team announced Jacksonville re signed long snapper Matt Overton the team announced late Wednesday He will compete with Carson Tinker for the position in camp Field Level Media |
VZ | Will The Bull Run Continue For National Wireless Operators | Despite severe volatility in Wall Street national wireless service providers have performed reasonably well so far in 2019 A growing U S economy speeds up demand for real time voice data and video manifold Forget 4G LTE Long Term Evolution the stage is set for a 5G wireless race in the U S telecom space Special Features of Telecommunications IndustryTelecommunications is a necessary utility The need for telecom in both rural and urban areas and its role in the infrastructure of both developed and developing markets will continue to grow Therefore telecommunication services can never be out of demand The industry is characterized as a barrier to entry The lack of public airwaves spectrum in the telecommunications industry creates a high barrier to entry The U S telecom market is controlled by just four national players as regional low cost operators are not eligible to compete with large carriers Furthermore it is not easy to establish a new telecom carrier since it requires government approval to transmit voice data and video on public airwaves Spectrum licenses are limited and therefore quite expensive Moreover the deployment of network infrastructure requires significant capital expenditure which very few entities can afford Thus this barrier protects the profits of incumbents Strong Wireless MarketThe major thrust for the wireless industry is coming from within the space as a result of continuous network and product upgrade along with innovation by its participants The escalation in demand has encouraged wireless operators to undertake large network extensions while upgrading plans The rising demand for technologically superior products has been a silver lining for the wireless industry in an otherwise tough environment Year to date the national wireless operator industry has surged 19 8 surpassing the benchmark S P 500 Index s gain of 18 2 With rapid growth in video and other bandwidth intensive applications the wireless industry participants are making considerable investments in LTE broadband and fiber in order to provide additional capacity and ramp up Internet and wireless networks The LTE network has the highest penetration rate of 91 in the North American region The impending 5G boom is likely to propel the wireless industry to newer heights The success of 5G technology hinges on substantial investments to upgrade infrastructure in the core fiber backhaul network to support anticipated growth in data services Advantage of 5G Wireless NetworkThe United States is progressing well to lead the world in 5G the next generation of wireless connectivity which will enable faster speeds and low latency wireless broadband services 5G networks will be 10 times faster than 4G networks Although 5G network is not likely to replace existing 4G standards on a large scale before 2020 several telecom behemoths are expected to launch 5G smartphones in this year Latency period of 5G data delivery will be in milliseconds Further 5G technology is designed to be more power efficient than any other standard wireless network available now Consequently 5G enabled mobile devices are likely to last significantly longer than their 3G or 4G counterparts In this respect the superfast 5G mobile networks will be of utmost necessity in managing the exponential growth of Internet connected devices popularly known as Internet of Things IoT The 2G wireless network significantly increased voice traffic globally while the 3G wireless network enabled seamless Internet connectivity to mobile phone Meanwhile the 4G standard helped companies that thrive on mobile especially smartphone connectivity Notably 5G wireless network is likely to boost high tech artificial intelligence based products significantly Major 5G Network OperatorsIn the United States all four national wireless operators Verizon Communications Inc NYSE VZ AT T Inc NYSE T T Mobile US Inc NYSE T and Sprint Corp NYSE S will start rolling 5G networks in 2019 Moreover United States Cellular Corp NYSE S Comcast Corp NYSE S and Charter Communications Inc NYSE T are also likely to follow suite Price performance of U S wireless operators in the past three months 7 Best Stocks for the Next 30 DaysJust released Experts distill 7 elite stocks from the current list of 220 Zacks Rank 1 Strong Buys They deem these tickers Most Likely for Early Price Pops Since 1988 the full list has beaten the market more than 2X over with an average gain of 24 6 per year So be sure to give these hand picked 7 your immediate attention |
VZ | Verizon Rises 3 | Investing com Verizon NYSE VZ rose by 3 01 to trade at 58 18 by 15 53 19 53 GMT on Tuesday on the NYSE exchange
The volume of Verizon shares traded since the start of the session was 19 44M Verizon has traded in a range of 56 92 to 58 19 on the day
The stock has traded at 58 4400 at its highest and 54 6100 at its lowest during the past seven days |
VZ | T Mobile exceeds expectations for phone subscribers profit | By Sheila Dang and Akanksha Rana Reuters T Mobile US Inc O TMUS on Tuesday exceeded Wall Street s quarterly estimates for net new phone subscribers and profit driven by its competitive wireless plans and trade in offers for iPhones aimed at fending off its bigger rivals Shares of the Bellevue Washington based company rose over 3 percent to 66 00 in extended trading The third largest U S wireless carrier by subscribers is awaiting regulatory approval for its deal to buy smaller rival Sprint Corp N S as it strives for more scale to compete with Verizon Communications Inc N VZ and AT T Inc N T The company still expects to close the merger in the first half of next year and has so far received approval from half of the state commissions that are reviewing the deal T Mobile Chief Executive Officer John Legere said on a conference call with analysts As you can see we are making progress Legere said T Mobile added a net 774 000 phone subscribers who pay a monthly bill during the third quarter up from 595 000 net new subscribers it added in the same quarter last year The results were well ahead of analyst expectations for 628 000 net new subscribers according to research firm FactSet The growth was helped by new wireless plans aimed at certain users such as those over 55 and people in the military which helped T Mobile gain new customer segments T Mobile said it now expects to add 3 8 million to 4 1 million net new postpaid customers for the full year up from its previous expectations of between 3 million to 3 6 million Wall Street analysts watch the so called postpaid customer figure because those users pay a recurring bill and are more valuable to the carriers Jonathan Chaplin an analyst with NewStreet Research said the results were very strong They are gaining traction in new market segments and new geographies he said We think they have a long way to run T Mobile s revenue rose to 10 84 billion from 10 02 billion beating analysts estimates of 10 72 billion according to Refinitiv data Its net income rose to 795 million or 93 cents a share in the quarter ended Sept 30 from 550 million or 63 cents a share a year earlier The company said net income was impacted during the quarter by 53 million in costs related to the pending Sprint merger Analysts were expecting the company to report a profit of 85 cents per share
Last week the largest U S carrier Verizon reported adding a net 295 000 phone subscribers during the third quarter beating estimates of 161 000 new subscribers Separately AT T gained a net 69 000 phone subscribers compared with analysts estimates of a net drop of 22 000 subscribers |
VZ | Sprint beats revenue and profit forecasts shares rise | By Sheila Dang and Akanksha Rana Reuters Sprint Corp N S beat Wall Street s estimates for quarterly revenue profit and overall net subscriber additions on Wednesday driving shares in the No 4 U S wireless carrier 9 percent higher in morning trading Sprint which is awaiting regulatory approval to merge with bigger rival T Mobile US Inc O TMUS focused on increasing its revenue from devices such as tablets and smartwatches and getting more customers for its higher priced unlimited phone plans Chief Executive Michel Combes said during an earnings call with analysts As customers add more devices other than phones it should reduce churn at the end of the day because that means more devices per account Combes said Sprint reported net income attributable to the company of 196 million or 5 cents per share in the quarter ended Sept 30 compared with a net loss of 48 million or 1 cent per share a year earlier Analysts were expecting the company to report a loss of 1 cent per share according to Refinitiv data Sprint s business seems to be stabilizing Jonathan Chaplin an analyst with NewStreet Research said in a note adding if the deal with T Mobile is approved it will be far easier to integrate a business that is stable Sprint added a net 109 000 subscribers who pay a monthly bill during the second quarter down from 168 000 new subscribers at the same time last year Analysts on average had expected the company to lose a net 10 000 subscribers according to research firm FactSet In July Sprint revamped its unlimited wireless plans to include a basic and premium plan Combes previously said the higher prices for those plans could affect future customer additions as the carrier tries to balance growth with profitability Sprint fell short of estimates for it to add 22 000 net phone subscribers instead losing 34 000 in the quarter as it battles the negative perception of its network quality compared to AT T Inc N T and Verizon Communications Inc N VZ Churn or the rate of customer defections among phone customers who pay a recurring bill was 1 73 percent during the quarter up from 1 59 percent in the same period last year Combes said Sprint expected the churn level to continue over the next several quarters as customers who were on promotional pricing plans could leave after the offer ends
Total operating revenue rose to 8 43 billion from 7 93 billion Analysts had expected the company to report revenue of 7 97 billion |
VZ | Verizon to reorganize business segments | By Sheila Dang Reuters Verizon Communications Inc NYSE VZ said on Monday it will reorganize its business segments into Consumer Business and Verizon Media Group Oath to focus on the types of customers it serves The reorganization under Chief Executive Officer Hans Vestberg who was named to the top job on Aug 1 is a shift from the previous operating structure split between wireless and wireline and included the largest U S wireless carrier s Fios internet and video products The company said the new Verizon Media Group Oath segment will include media advertising and technology and be led by Guru Gowrappan who had been appointed CEO of Oath the digital media umbrella that includes Yahoo NASDAQ AABA and AOL Content is going to be important for 5G and we re doing that within Oath Vestberg said in an interview adding there are no changes in the company s previous statements that it is focused on its wireless network rather than acquiring media content The Verizon Consumer Group will include the consumer segment of the company s wireless and wireline businesses and will be led by Ronan Dunne currently president of Verizon Wireless Verizon Business Group will include products and services sold to businesses and government led by Tami Erwin who is currently executive vice president of wireless operations
The changes are effective on Jan 1 2019 and Verizon said it expects to begin reporting its financials under the new structure in the second quarter of 2019 |
WMB | NFL notebook DLs Sweat Banogu break records at showcase | Mississippi State s Montez Sweat ran a blazing 4 41 second 40 yard dash Sunday to set a modern record since 2003 for defensive linemen at the NFL Scouting Combine The previous mark was 4 44 seconds shared by North Carolina State s Manny Lawson 2006 and Isaac Hilton from Hampton 2004 per NFL Research Sweat ranked among the SEC leaders in sacks and tackles for loss in each of his two seasons with the Bulldogs tallying a combined 22 5 sacks and 30 0 TFL in 2017 18 At 6 foot 6 and 260 pounds Sweat s time was faster than all but one of 23 running backs tested Sweat wasn t the only prospect who broke a record in Indianapolis on Sunday TCU s Ben Banogu set a new event record for defensive linemen in the broad jump with a leap of 11 feet 2 inches Banogu ranked second in the Big 12 with 18 0 TFL in 2018 adding 57 tackles and 8 5 sacks for the Horned Frogs Clemson defensive tackle Dexter Lawrence injured his left hamstring running the 40 yard dash at the combine ESPN reported After clocking a time of 5 05 seconds in his first 40 attempt the 6 foot 4 342 pound prospect suffered the injury on his second try and did not complete the workout NFL Network ranks Lawrence as the No 31 player available in the 2019 NFL Draft On Saturday he led all defensive linemen invited to the showcase with 36 repetitions of 225 pounds in the bench press Clemson s pro day is scheduled for March 14 Alabama defensive lineman Quinnen Williams NYSE WMB ran the 40 yard dash in 4 83 seconds in Indianapolis the fourth fastest time by any 300 pound player at the NFL Scouting Combine since 2003 The 6 foot 3 303 pound prospect s time trailed only Jaye Howard 4 82 in 2012 Luis Castillo 4 80 in 2005 and Tank Johnson 4 69 in 2004 among 300 pounders per NFL com Williams a potential top 5 draft pick tallied 8 0 sacks and 19 5 tackles for loss in 15 games last season at Alabama The Crimson Tide standout ran faster than Ohio State quarterback Dwayne Haskins 5 04 seconds this weekend The Dallas Cowboys and defensive end DeMarcus Lawrence are running out of time to work out a long term deal and are not close as a March 5 deadline looms according to the Fort Worth Star Telegram If the Cowboys do not reach agreement by Tuesday the deadline for franchise tags they may be forced to use that option to keep him albeit at a hefty price tag The Cowboys tagged Lawrence last season and he made 17 1 million This year under the franchise tag he would earn 20 5 million The following year under the tag would be worth nearly 30 million New England Patriots defensive end Trey Flowers underwent a recent shoulder surgery that sources characterized as a cleanup procedure ESPN reported Set to become an unrestricted free agent later this month the 25 year old pass rusher led the Super Bowl LIII champions in sacks for the third straight season with a career high 7 5 in 2018 Draft Analyst reported last week that the Miami Dolphins are the front runners to sign Flowers Miami hired former Patriots defensive play caller Brian Flores as their head coach last month The Jacksonville Jaguars absolutely expect to sign quarterback Nick Foles when NFL free agency opens on March 13 Les Bowen of Philly com reported No other teams have reportedly emerged as serious suitors since the Philadelphia Eagles announced they would not use the franchise tag on the former Super Bowl MVP Foles 30 was 6 2 in the regular season and 4 1 in the playoffs over the last two years as a replacement for injured starter Carson Wentz
Jacksonville expects to move on from starter Blake Bortles the No 3 overall pick in 2014 The Jaguars fell to 5 11 in 2018 after reaching the AFC Championship game a year earlier New Jacksonville offensive coordinator John DeFilippo was Foles quarterbacks coach during the Eagles run to the Super Bowl LII title Field Level Media |
WMB | AAF roundup Late field goal gives Atlanta first win | Kicker Younghoe Koo who formerly kicked for the then San Diego Chargers booted a pair of field goals including the game winning 33 yarder with 1 03 remaining that gave the Atlanta Legends their first win of the AAF season in upsetting the host Arizona Hotshots 14 11 on Sunday in Tempe Ariz Legends quarterback Aaron Murray a former fifth round pick of the Kansas City Chiefs in 2014 completed 20 of 33 passes for 254 yards while rushing seven times for 54 yards Atlanta s lone touchdown came on a 9 yard run from ex Jacksonville Jaguars running back Denard Robinson who ran for 43 yards on nine carries The loss dropped Arizona 2 2 into a first place tie with the San Antonio Commanders in the Western Conference while Atlanta 1 3 snapped its three game losing streak to start its season Commanders 12 Iron 11 Former Baylor defensive back Orion Stewart picked off a pass late in the fourth quarter and visiting San Antonio held on for a one point win over Birmingham Stewart who spent time with several NFL teams including the Denver Broncos and New York Giants but never appeared in a game sealed Birmingham s first loss of the season when he intercepted quarterback Luis Perez The turnover spoiled a comeback attempt by the Iron who pulled within a point after a rushing touchdown by former NFL running back Trent Richardson and a successful two point conversion from Perez to DeVozea Felton
Quarterback Logan Woodside completed 11 of 25 passes for 106 yards for San Antonio 2 2 and Trey Williams NYSE WMB rushed for the Commanders lone touchdown Richardson rushed for 15 yards on eight carries for Birmingham 3 1 Field Level Media |
WMB | Ukraine s Tymoshenko gas princess prisoner and next president | By Matthias Williams NYSE WMB and Pavel Polityuk KIEV Reuters Yulia Tymoshenko has been Ukraine s prime minister twice was the global face of a revolution imprisoned by two different presidents and the target of an operation to discredit her by President Donald Trump s former campaign manager Now the 58 year old known for her fiery rhetoric and once upon a time for her peasant braid hairstyle hopes to unseat her old rival Petro Poroshenko in a tightly fought presidential vote on March 31 Her campaign is a difficult balancing act promising reforms and continued cooperation with the International Monetary Fund while pledging to reverse sharp increases in the price of gas used for home heating that the IMF set as a condition for more loans At stake is the chance to lead Ukraine five years after the Maidan street protests ousted a Kremlin backed leader and set the country on a pro Western course and bloody confrontation with Russia Tymoshenko is popular with older voters and promises a threefold increase in pensions should she win But having started as the front runner she trails in a three horse race with Poroshenko and comedian Volodymyr Zelenskiy Her rhetoric can be pungent She calls the gas price increase genocide Critics call her a populist Asked whether she thought that was fair Tymoshenko told Reuters it was a label Poroshenko s corrupt mafia used to smear her His people were using the political dark arts to fight against their serious and influential opponents and therefore for me they have chosen the word populism she said in a rare interview with a foreign media organization Many investors have been comforted by Poroshenko sticking with Ukraine s IMF program which has supported the country through recession and war with Kremlin backed separatists in the eastern Donbass region When asked whether businesses should worry about her presidency Tymoshenko pointed to her experience of working with the IMF as prime minister but said that the terms of the current arrangement were counterproductive After the presidential election we would like to start a constructive dialogue with the IMF on how to correct this situation how to make our joint cooperation bring results that will be felt by the economy of Ukraine and Ukrainian citizens For ordinary people virtually all of their income is wiped out through exorbitant unreasonably high gas prices this means that people have no money left to support the Ukrainian economy she said Her plan for dealing with Russia is to persevere with the Minsk peace talks which have staunched but not ended the bloodshed in the Donbass She also called for wider negotiations involving the United States Britain and the European Union IN THE DOCK Tymoshenko became known as the gas princess because of her lucrative dealings at the head of a major energy company in the 1990s She came to the world s attention during Ukraine s 2004 2005 Orange Revolution which pitted her against Kremlin friendly rival Viktor Yanukovich When he finally became president Yanukovich jailed her and with the help of Paul Manafort who later became Trump s campaign manager produced a 187 page report in 2012 justifying her imprisonment after an international outcry Manafort was eventually convicted as part of Special Counsel Robert Mueller s investigation into Russian meddling in the 2016 U S election While working as a consultant to Yanukovich s Party of Regions Manafort used offshore accounts to secretly pay 4 million for the report on Tymoshenko according to his indictment She compares the attacks from Poroshenko s camp to that time I know that the strongest propaganda machine is turned against me as Manafort once did she said lambasting Manafort for destroying my honest name belittling my activities Though soft spoken during her Reuters interview Tymoshenko has loudly turned her fire on Poroshenko in public She called for his impeachment in February over corruption allegations involving the son of one of Poroshenko s close allies which were made by an investigative journalist network All parties involved deny wrongdoing Tymoshenko called it the tip of the iceberg and would put Poroshenko on trial if elected Beneath the water there is a corruption pyramid built up enormously over five years she said We believe that we will win the presidential campaign and that the president and his criminal corrupt environment will be brought to justice Tymoshenko herself was the subject of an investigation by the same journalist network bihus info which found that her party had hidden the real sources of campaign donations Tymoshenko admitted her party had concealed contributions from businesses by pretending they came from ordinary voters but said this was necessary to protect the businesses from vindictive investigations by the authorities THREE HORSE RACE An admirer of Margaret Thatcher Tymoshenko keeps a signed copy of the British prime minister s memoirs in her office This is Tymoshenko s third shot at the presidency having lost to Yanukovich in 2010 and Poroshenko in 2014 Asked whether she saw Poroshenko or Zelenskiy as her main opponent this time Tymoshenko chose Poroshenko But it is Zelenskiy who has emerged as the new front runner after announcing his candidacy in December tapping into the disillusionment some feel about the slow pace of change since Maidan Asked why she has fallen as low as third place in some polls and whether her support was waning she said There was no fall arguing she still had the same number of supporters as before Simply there is a new presidential candidate Volodymyr Zelenskiy who has never been in politics He now receives in polls the great support of people who are against the establishment against the entire political class So is her long experience in politics a strength or a weakness I believe that Ukraine should end its history of voting for a person a family name or a cool creative advertisement she said
For the first time we need to vote not for individuals but for real serious well founded programs of action Except us nobody today has such programs |
WMB | Flag comes down on U S Palestinian mission in Jerusalem | By Dan Williams NYSE WMB JERUSALEM Reuters The United States lowered the flag on Monday at the Jerusalem consulate that had served as its diplomatic channel to the Palestinians merging the mission with the new U S Embassy to Israel in the contested city The Palestinians who have boycotted the Trump administration since it shifted long standing U S policy in December 2017 by recognizing Jerusalem as Israel s capital voiced anger at what they see as Washington s latest move against them Whereas previously the consulate reported on Palestinian matters directly to Washington its staff have now been repurposed in the embassy as a Palestinian Affairs Unit under the U S ambassador to Israel David Friedman This is the last nail in the coffin of peacemaking veteran Palestinian negotiator Saeb Erekat said on Twitter Israeli Palestinian talks collapsed in 2014 and the White House says it intends to present a new peace plan after a national election in Israel in April Israel deems all of Jerusalem including the eastern sector it captured in the 1967 Middle East War and annexed in a move not recognized internationally as its undivided capital Washington has avoided such language however signaling that the final status of the city should be negotiated by the sides Palestinians want to make East Jerusalem the capital of a state they seek in the occupied West Bank and the Gaza Strip The European Union s latest report on Israeli settlements in the West Bank released last month said continued expansion had made the chances of a two state solution with Jerusalam as the capital of both increasingly unattainable Building of new houses had continued at an unprecedented rate in the second half of 2018 opening the way for more Israelis to move in the report said LOW KEY At the ornate consulate on Agron Street in downtown Jerusalem the flag ceremony was kept low key under gray winter skies Friedman who helped spearhead May s relocation of the U S Embassy from Tel Aviv to a different converted consular building in south Jerusalem was not present U S officials said the Stars and Stripes banner was taken down and presented to departing consul Karen Sasahara as a farewell gift in keeping with foreign service custom after which another U S flag was run up The U S State Department said the merger was driven by operational efficiency and did not signal any change in policy Our work and our team will continue to work on reaching peace in this land Sasahara said on YouTube U S officials told Reuters last month that the Agron street building immediately upon consulate operations ending would serve as the ambassador s official residence But that plan appeared to have slowed On Monday the consulate plaque had been removed from the building facade leaving a blank space
The U S consulate in Jerusalem had dated back 175 years to when the city holy to Jews Christians and Muslims was under Ottoman rule |
WMB | Clippers take care of skidding Lakers | Danilo Gallinari scored 23 points and the visiting Los Angeles Clippers defeated the Los Angeles Lakers 113 105 on Monday night for their third consecutive victory Lou Williams NYSE WMB scored 21 points off the bench and Montrezl Harrell added 14 points and 11 rebounds in a reserve role for the Clippers who moved back into sole possession of seventh place in the Western Conference a half game behind the Utah Jazz and a half game ahead of the San Antonio Spurs Shai Gilgeous Alexander also scored 14 points and Patrick Beverley added 13 points nine rebounds and five steals for the Clippers Landry Shamet had 12 points Rajon Rondo scored a season high 24 points to go with 10 rebounds and 12 assists for his first triple double with the Lakers LeBron James finished with 27 points eight rebounds and six assists and Josh Hart scored 17 off the bench Brandon Ingram third on the Lakers in scoring at 18 3 points per game missed the game because of a sore right shoulder Second leading scorer Kyle Kuzma 18 9 points per game scored 13 before leaving midway through the fourth quarter due to an injured right ankle The 10th place Lakers who have lost five of their past six are 5 1 2 games behind the final Western Conference playoff spot The Lakers took an 82 79 lead on a three point play by Hart with 2 55 left in the third quarter but the Clippers came back with a 10 0 run to take their biggest lead to that point at 89 82 with 40 6 seconds left in the third Lakers guard Reggie Bullock sank a long step back jumper at the buzzer to cut the deficit to 91 85 entering the fourth but the Clippers scored the first four points of the fourth to take their first double digit lead The Lakers got as close as five with 7 57 left but the Clippers scored the next eight points during a run in which Kuzma was also injured The Lakers led by as many as 10 late in the first quarter After the Clippers caught up the Lakers retook the lead 42 41 on a dunk by Harrell with 6 49 left in the first half
The Clippers stretched their second quarter lead to as many as six points before scoring the final four points of the first half to take a 61 57 edge into the break Field Level Media |
WMB | NBA roundup Suns stun Bucks | Kelly Oubre Jr recorded 27 points 13 rebounds and three blocked shots and Devin Booker scored 22 points as the lowly Phoenix Suns pulled off a stunning 114 105 victory over the visiting Milwaukee Bucks on Monday night Deandre Ayton registered 19 points 12 rebounds and three blocked shots and Josh Jackson scored 16 for Phoenix The Suns have won three of four since enduring a franchise worst 17 game losing streak Tyler Johnson had 13 points and four steals and also knocked down the tiebreaking basket for the Suns who outscored Milwaukee 38 23 in the fourth quarter Giannis Antetokounmpo had 21 points 13 rebounds six assists and three steals for the NBA best Bucks who have lost two straight after winning 19 of the previous 21 games Malcolm Brogdon scored 19 points Spurs 104 Nuggets 103 DeMar DeRozan scored 24 points and LaMarcus Aldridge added 22 points as San Antonio outlasted visiting Denver to capture its third straight victory San Antonio led by 21 points in the second quarter and by 17 with 9 10 to go in the game but Denver got within one point when Jamal Murray canned a 3 pointer with 49 6 seconds left The Nuggets then missed four shots at a win in the remaining time Murray scored 25 points and Nikola Jokic had 22 points and 10 rebounds for Denver which has lost three games in a row Pelicans 115 Jazz 112 Jrue Holiday and Julius Randle each scored 30 points to lead New Orleans to a 115 112 come from behind victory over Utah in Salt Lake City Anthony Davis totaled 15 points and 11 rebounds in only three quarters for the Pelicans who won their third straight Davis did not play the entire fourth quarter The Jazz led by 17 points in the second quarter and by 14 early in the fourth Jae Crowder and Kyle Korver totaled 20 points apiece off the bench to lead Utah Rudy Gobert scored 19 points and collected 19 rebounds and Donovan Mitchell added 19 points with nine assists Clippers 113 Lakers 105 Danilo Gallinari scored 23 points and the visiting Los Angeles Clippers defeated the Los Angeles Lakers for their third consecutive victory Lou Williams NYSE WMB scored 21 points off the bench and Montrezl Harrell added 14 points and 11 rebounds in a reserve role for the Clippers Rajon Rondo scored a season high 24 points to go with 10 rebounds and 12 assists for his first triple double with the Lakers LeBron James finished with 27 points eight rebounds and six assists Kings 115 Knicks 108 Harry Giles III contributed a dunk and a hook shot to an eight point run that opened the fourth quarter and Sacramento finally was able to pull away from visiting New York Buddy Hield had 28 points and Harrison Barnes contributed 22 points and 10 rebounds for the Kings who had lost three in a row including two straight to begin a key four game homestand Knicks rookie Allonzo Trier led all scorers with 29 points Heat 114 Hawks 113 Dwyane Wade scored 14 of his 23 points in the fourth quarter as host Miami won consecutive games for the first time since January defeating Atlanta Josh Richardson added 19 points and Justise Winslow added 18 for Miami which finally beat Atlanta after losing the first three games of this season s four game series The Hawks fell just short of what would have been their first 4 0 sweep of Miami since 1990 91 Vince Carter 42 led Atlanta with 21 points and made a season high seven 3 pointers Carter surpassed Jamal Crawford for sixth place in NBA history in terms of career 3 pointers ending the night with 2 199 Crawford has 2 195 treys Carter also surpassed Reggie Miller 25 279 points for 20th place in scoring winding up with 25 292 points Nets 127 Mavericks 88 DeMarre Carroll matched a season high with 22 points as Brooklyn coasted to a victory over Dallas in New York Rodions Kurucs added 19 points and became the third rookie in Nets franchise history to hit at least five 3 pointers in a game going 5 of 7 from long range D Angelo Russell collected 13 points and 11 assists as the Nets posted their most lopsided win since moving from New Jersey in 2012 Dwight Powell paced Dallas with 20 points and rookie Luca Doncic added 16 Field Level Media |
WMB | EU equities rise as China stimulus pledge helps safe stocks | By Josephine Mason LONDON Reuters European stocks were higher on Tuesday as investors bought consumer staples and other stocks considered safer during economic strife after China pledged more stimulus to stabilize slowing growth in the world s No 2 economy The pan European STOXX 600 was up 0 2 percent at 0946 GMT recovering from brief early pressure to extend a three day rally that saw the index hit five month highs a day earlier amid hopes of a truce to the protracted U S China trade spat Tobacco healthcare and consumer staples considered havens during political and economic turmoil led the gains amid broader gloom about the global economy British American Tobacco LON BATS Anheuser Busch and Unilever LON ULVR were up between 1 2 percent and 2 1 percent Equities also perked up after euro zone data showed business activity accelerated more than expected last month helping offset downbeat news from China Chinese Premier Li Keqiang cut the government s 2019 growth target to 6 0 6 5 percent as expected and promised more stimulus including cuts in taxes increases in infrastructure investment and lending to small firms While the cut underlined the strain that has slowed growth and roiled global markets stimulus steps reassured investors that Beijing was serious about steadying the economy I think we all saw it coming The growth trend was going to be cut and they re saying the right things about stimulus They have plenty of policy levers to pull if needed said Peel Hunt economics and strategy research analyst Ian Williams NYSE WMB Still autos and suppliers which rely on Chinese demand were under pressure with Continental and Daimler among the biggest fallers in Frankfurt Later in the day the U S ISM non manufacturing data will offer an insight into Friday s non farm payrolls data and is expected to show an improvement on January s data which came during the U S government shutdown Among individual movers Evonik shares were close to four month highs after the German chemicals group reported a slight rise in profits thanks to its coating additives and engineering plastics division Vodafone LON VOD added 2 3 percent after announcing plans to issue 4 billion euros 4 5 billion worth of convertible bonds to help finance its takeover of some Liberty assets Elsewhere in the UK British product testing company Intertek was the biggest faller in London with a dealer attributing the drop to profit taking after largely in line full year results Eurofins fell 6 6 percent to the bottom of the STOXX 600 after the food and biopharma product testing firm said it would curb its M A activity in a bid to shore up margins and cash flow BBA Aviation was on track for its worst day in three months after its full year results Luxury goods companies Richemont and Moncler were each down more than 3 percent after downgrades |
WMB | Tennis Wimbledon targeting juniors to make sure future is green | By Martyn Herman LONDON Reuters Roger Federer would probably make tennis look easy on a court of broken glass so grass definitely holds no fears as his 18 career titles on the greensward illustrate Such is Federer s ease on the surface that had lawn tennis remained loyal to its roots and the sport was still played extensively on grass then it s likely he would have accumulated more than his 100 titles Eight time Wimbledon champion Federer is a one off though The vast majority of players on Tour do not possess his sleight of hand or his powers of improvisation and for them grass remains a conundrum especially when opportunities to master the surface are rare Of the 58 ATP Tour events in 2019 a player can play a maximum of four on grass Since the U S Open switched from grass to hard in 1975 and the Australian Open followed suit in 1988 Wimbledon remains the only Grand Slam played on lawns It is a similar story on the WTA Tour which offers only five grasscourt tournaments in a three week block before Wimbledon For international juniors opportunities are even more scarce which is why the All England Club in collaboration with the Lawn Tennis Association is acting to protect and promote grasscourt tennis and ensure the future is green This year a new ITF junior grass international event will be hosted in Nottingham the week before a similar event in Roehampton which until now had been the only lead in tournament for players heading to the Wimbledon junior championships It s a really exciting development for junior tennis Leon Smith Britain s Davis Cup winning captain and former coach of twice Wimbledon champion Andy Murray told Reuters at the All England Club It s a big step forward in giving more players the opportunity to learn the nuances of grasscourt tennis From 2022 a new event for under 14s will be staged at the All England Club during the second week of the Championships Also the Road to Wimbledon a mass participation grassroots event played since 2002 by thousands of youngsters in parks schools and local clubs and culminating at the All England Club has been expanded to Hong Kong India China and Japan It is all about keeping grasscourt skills alive in a world full of baseline bashers says Smith and ensuring Wimbledon remains the pinnacle of world tennis not an anomaly Make no mistake when juniors play on grass they have an absolute ball Smith said It s unique and I can tell you if there were more grasscourt opportunities juniors would love to play on it They love to try different shots and grass has the nuances you don t get on the other surfaces the ability to throw in some serve and volley the ability to use a bit more variety keep the ball low play on the front foot We have seen the dominance of the baseline game but people enjoy watching players with the ability to win in other ways We have seen that here illustrated beautifully by Roger and when Andy won he brought a whole mix to the court Lower ranked players are already benefiting from an extended grasscourt season with a plethora of ATP Challengers and ITF events staged Britain in June after the French Open PIMPLED SHOES But Smith says juniors the majority drilled into baseline warfare on high bouncing clay or hardcourts also need a pathway on which to hone the required skills for grass It s about developing players so that grass is something on their mind Smith said It s not just grabbing the pimpled shoes for one week in the year It s about getting used to it growing up to understanding what grasscourt tennis is The new events will help create a grasscourt pathway The All England Club has evolved into one of the world s greatest sporting venues and Court One will unveil its new roof in a few weeks The tournament has been lucky to have Federer Rafa Nadal Novak Djokovic Murray and Serena Williams NYSE WMB gracing the grass for more than a decade But will future champions really embrace grass or just be the least uncomfortable on it
We don t want to just see the best players at Wimbledon we want to see the best players able to play their best tennis Smith added Otherwise it s not fair to them or the fans |
VZ | Verizon VZ Upgraded To Buy Here s What You Should Know | Verizon Communications VZ could be a solid choice for investors given its recent upgrade to a Zacks Rank 2 Buy This upgrade is essentially a reflection of an upward trend in earnings estimates one of the most powerful forces impacting stock prices
A company s changing earnings picture is at the core of the Zacks rating The system tracks the Zacks Consensus Estimate the consensus measure of EPS estimates from the sell side analysts covering the stock for the current and following years
The power of a changing earnings picture in determining near term stock price movements makes the Zacks rating system highly useful for individual investors since it can be difficult to make decisions based on rating upgrades by Wall Street analysts These are mostly driven by subjective factors that are hard to see and measure in real time
As such the Zacks rating upgrade for Verizon is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price
Most Powerful Force Impacting Stock Prices
The change in a company s future earnings potential as reflected in earnings estimate revisions has proven to be strongly correlated with the near term price movement of its stock That s partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company s shares An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock and institutional investors typically buy or sell it Their transaction of large amounts of shares then leads to price movement for the stock
Fundamentally speaking rising earnings estimates and the consequent rating upgrade for Verizon imply an improvement in the company s underlying business Investors should show their appreciation for this improving business trend by pushing the stock higher
Harnessing the Power of Earnings Estimate Revisions
As empirical research shows a strong correlation between trends in earnings estimate revisions and near term stock movements tracking such revisions for making an investment decision could be truly rewarding Here is where the tried and tested Zacks Rank stock rating system plays an important role as it effectively harnesses the power of earnings estimate revisions
The Zacks Rank stock rating system which uses four factors related to earnings estimates to classify stocks into five groups ranging from Zacks Rank 1 Strong Buy to Zacks Rank 5 Strong Sell has an impressive externally audited track record with Zacks Rank 1 stocks generating an average annual return of 25 since 1988 You can see the complete list of today s Zacks 1 Rank Strong Buy stocks here
Earnings Estimate Revisions for Verizon
This largest U S cellphone carrier is expected to earn 4 81 per share for the fiscal year ending December 2019 which represents a year over year change of 2 1
Analysts have been steadily raising their estimates for Verizon Over the past three months the Zacks Consensus Estimate for the company has increased 1 2
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations the Zacks rating system maintains an equal proportion of buy and sell ratings for its entire universe of more than 4000 stocks at any point in time Irrespective of market conditions only the top 5 of the Zacks covered stocks get a Strong Buy rating and the next 15 get a Buy rating So the placement of a stock in the top 20 of the Zacks covered stocks indicates its superior earnings estimate revision feature making it a solid candidate for producing market beating returns in the near term
You can learn more about the Zacks Rank here
The upgrade of Verizon to a Zacks Rank 2 positions it in the top 20 of the Zacks covered stocks in terms of estimate revisions implying that the stock might move higher in the near term |
VZ | Moving Average Crossover Alert Verizon Communications | Verizon Communications Inc NYSE VZ is looking like an interesting pick from a technical perspective as the company is seeing favorable trends on the moving average crossover front Recently the 50 Day Moving Average for VZ broke out above the 200 Day Simple Moving Average suggesting a short term bullish trend This has already started to take place as the stock has moved higher by 6 2 in the past four weeks Plus the company currently has a Zacks Rank 2 Buy suggesting that now could definitely be the time for this breakout candidate More bullishness may especially be the case when investors consider what has been happening for VZ on the earnings estimate revision front lately One estimate has gone lower in the past two months compared to 16 higher while the consensus estimate has also moved higher too So given this move in estimates and the positive technical factors investors may want to watch this breakout candidate closely for more gains in the near future You can see Today s Best Stocks from Zacks Would you like to see the updated picks from our best market beating strategies From 2017 through 2018 while the S P 500 gained 15 8 five of our screens returned 38 0 61 3 61 6 68 1 and 98 3 This outperformance has not just been a recent phenomenon From 2000 2018 while the S P averaged 4 8 per year our top strategies averaged up to 56 2 per year |
VZ | Should Value Investors Consider Verizon VZ Stock Now | Value investing is easily one of the most popular ways to find great stocks in any market environment After all who wouldn t want to find stocks that are either flying under the radar and are compelling buys or offer up tantalizing discounts when compared to fair value One way to find these companies is by looking at several key metrics and financial ratios many of which are crucial in the value stock selection process Let s put Verizon Communication Inc NYSE VZ stock into this equation and find out if it is a good choice for value oriented investors right now or if investors subscribing to this methodology should look elsewhere for top picks PE RatioA key metric that value investors always look at is the Price to Earnings Ratio or PE for short This shows us how much investors are willing to pay for each dollar of earnings in a given stock and is easily one of the most popular financial ratios in the world The best use of the PE ratio is to compare the stock s current PE ratio with a where this ratio has been in the past b how it compares to the average for the industry sector and c how it compares to the market as a whole On this front Verizon has a trailing twelve months PE ratio of 15 82 as you can see in the chart below This level actually compares pretty favorably with the market at large as the PE for the S P 500 stands at about 22 03 If we focus on the long term PE trend Verizon s current PE level puts it above its midpoint of 14 60 over the past five years with the number having risen rapidly over the past few months Further the stock s PE also compares favorably with the Zacks Computer Technology sector s trailing twelve months PE ratio which stands at 26 86 At the very least this indicates that the stock is relatively undervalued right now compared to its peers We should also point out that Verizon has a forward PE ratio price relative to this year s earnings of just 12 54 so it is fair to say that a slightly more value oriented path may be ahead for Verizon stock in the near term too P S RatioAnother key metric to note is the Price Sales ratio This approach compares a given stock s price to its total sales where a lower reading is generally considered better Some people like this metric more than other value focused ones because it looks at sales something that is far harder to manipulate with accounting tricks than earnings Right now Verizon has a P S ratio of about 1 91 This is a bit lower than the S P 500 average which comes in at 3 24x right now Also as we can see in the chart below this is well below the highs for this stock in particular over the past few years If anything this suggests some level of undervalued trading at least compared to historical norms Broad Value OutlookIn aggregate Verizon currently has a Value Score of A putting it into the top 20 of all stocks we cover from this look This makes Verizon a solid choice for value investors and some of its other key metrics make this pretty clear too What About the Stock Overall Though Verizon might be a good choice for value investors there are plenty of other factors to consider before investing in this name In particular it is worth noting that the company has a Growth Score of B and a Momentum Score of F This gives VZ a Zacks VGM score or its overarching fundamental grade of B You can read more about the Zacks Style Scores Meanwhile the company s recent earnings estimates have been sturdy at best The current quarter has seen eleven estimates go higher in the past sixty days compared to three lower while the full year estimate has seen sixteen up and one down in the same time period This has had a positive impact on the consensus estimate though as the current quarter consensus estimate has risen by 1 6 in the past two months while the full year estimate has inched higher by 1 3 You can see the consensus estimate trend and recent price action for the stock in the chart below Verizon Communications Inc Price and Consensus This somewhat bullish trend is why the stock has just a Zacks Rank 2 Buy and why we are looking for outperformance from the company in the near term Bottom LineVerizon is an inspired choice for value investors as it is hard to beat its incredible lineup of statistics on this front Further a strong industry rank among Top 26 of more than 250 industries instills our confidence However over the past two years the Zacks Wireless National industry has clearly underperformed the broader market as you can see below So value investors might want to wait for analyst sentiment to turn around in this name first but once that happens this stock could be a compelling pick Breakout Biotech Stocks with Triple Digit Profit PotentialThe biotech sector is projected to surge beyond 775 billion by 2024 as scientists develop treatments for thousands of diseases They re also finding ways to edit the human genome to literally erase our vulnerability to these diseases Zacks has just released Century of Biology 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance Our recent biotech recommendations have produced gains of 98 119 and 164 in as little as 1 month The stocks in this report could perform even better |
VZ | Verizon spends big on Florida network | Verizon NYSE VZ is shelling out 25M to update its network in Florida s Panhandle an area hard hit by service outages after Hurricane Michael It will build the most technologically advanced wireless network in the area and add next generation wireless 5G technology in Panama City Due to Michael Verizon also said last week it would waive bills for consumer and business customers in nine Florida counties for three months Now read |
VZ | Trump signs order to set U S spectrum strategy as 5G race looms | By David Shepardson WASHINGTON Reuters U S President Donald Trump on Thursday signed a presidential memorandum directing the Commerce Department to develop a long term comprehensive national spectrum strategy to prepare for the introduction of next generation 5G wireless networks Trump is also creating a White House Spectrum Strategy Task Force and wants federal agencies to report on government spectrum needs and review how spectrum can be shared with private sector users The memorandum requires a series of reports over the next nine months and looking at ways and existing efforts on increasing spectrum and sharing existing spectrum A long term strategy is due by July The goal is to ensure there is enough spectrum to handle the growing amount of internet and wireless traffic and that future faster 5G networks have adequate spectrum The White House also said Trump is withdrawing presidential memorandums on spectrum signed by then President Barack Obama in 2010 and 2013 AT T Inc NYSE T Verizon Communications Inc NYSE VZ Sprint Corp and T Mobile US Inc are working to acquire spectrum and beginning to develop and test 5G networks which are expected to be at least 100 times faster than current 4G networks and cut latency or delays to less than one thousandth of a second from one hundredth of a second in 4G the Federal Communications Commission has said Wireless industry trade group CTIA praised the administration for recognizing the importance of establishing a national spectrum strategy With the right approach based on licensed wireless spectrum America s wireless carriers will invest hundreds of billions of dollars and create millions of jobs White House officials said they do not support any effort to nationalize the 5G network A leaked document in January suggested the administration was considering the idea We will prioritize efforts to accelerate the private sector s development of 5G so that the American people can reap the rewards of this incredible technology White House adviser Michael Kratsios told reporters on Thursday Democratic Federal Communications Commissioner FCC Jessica Rosenworcel questioned the length of the time for the reports Other nations are moving ahead while we re headed to study hall and in the interim we re slapping big tariffs on 5G networks This doesn t speed our 5G leadership it slows us down she said One big issue is a band of spectrum reserved for automakers to enable vehicles to talk to one another that has gone largely unused Cable companies and others want the FCC to award part or all of that to expand Wi Fi
On Tuesday the FCC voted to open additional spectrum for use by unlicensed devices in the 6 GHz band or five times the current spectrum available Unlicensed devices include things such as Wi Fi routers connected home appliances baby monitors fitness trackers garage door openers and cordless landline phones |
WMB | Vettel crashes while Sainz goes fastest in testing | BARCELONA Reuters Sebastian Vettel crashed his Ferrari NYSE RACE on the second day of Formula One s final pre season test in Spain on Wednesday while Carlos Sainz went fastest for McLaren Vettel s crash in the morning at the Circuit de Catalunya was the team s first pre season setback after looking quick and reliable so far It also curtailed the Italian team s running with only one more lap completed in the afternoon and forced a change of plan for the final two days Instead of Vettel and team mate Charles Leclerc sharing the daily duties they will now do a day each with the Monegasque in the car on Thursday and four times world champion Vettel on Friday Ferrari said Vettel s sudden accident at turn three was caused by a mechanical problem with the front left Vettel who had done 40 laps was unhurt but went to the medical center for routine checks By the feeling there was an issue with the front left corner and from there there wasn t anything that I could have done to avoid the impact said the German So after that I obviously wasn t in control any more so more or less went straight into the barriers Sainz set the best time of one minute 17 144 seconds on the soft C4 tyre and completed 130 laps the same number as Poland s Robert Kubica in the Williams NYSE WMB There are still a few niggles and stoppages that we wish we didn t have but every time we go out on track we re a bit more reliable and we keep moving in the right direction commented Sainz The timesheets still aren t important We re only focused on our run plans and tests rather than wasting our energy on trying to calculate where we re at compared to the others Mexican Sergio Perez was second fastest for Racing Point on the softest C5 and Vettel third on harder and slower C3 tyres Mercedes were again towards the bottom of the timesheets with Valtteri Bottas eighth and five times world champion team mate Lewis Hamilton ninth Between them the Mercedes pair did 176 laps however We got a lot of laps today which is a good thing but we ve come across a few little hurdles so we re just working our way through them trying to be as diligent as possible trying to understand the causes said Hamilton Everyone is working flat out and I m sure we will get there You need days like this to be able to bring light to the things that we need to work on Mercedes technical director James Allison said an afternoon race simulation had seen graining of the front tyres and feared that could be a general feature of the year ahead
The season starts in Australia on March 17 |
WMB | Osaka adds American Jenkins to team | TOKYO Reuters Naomi Osaka has added American Jermaine Jenkins to her support team the world number one said on Thursday The Australian Open champion who split with former coach Sascha Bajin earlier this month made the announcement on social media but did not elaborate on Jenkins exact role Had a great dinner with the team Also taking this moment to thank Jermaine for joining us and coming on board she wrote alongside a photograph of herself with Jenkins and other members of her team Jenkins who was recently appointed as the United States Tennis Association women s national coach was formerly the hitting partner of Venus Williams NYSE WMB Osaka split with Bajin after winning the Australian Open last month
The 21 year old enjoyed a spectacular rise during the time they worked together becoming the first Japanese player to win a grand slam when she beat Serena Williams in the U S Open final in September |
WMB | No gas No votes Subsidy cuts imperil Ukraine leader s reelection bid | By Natalia Zinets and Matthias Williams NYSE WMB SKRYHALIVKA Ukraine Reuters Ukrainian pensioner Nadiya Ignatiy says she has had the plum and cherry trees in her garden cut down for firewood since the government raised gas prices late last year In next month s election she will vote against President Petro Poroshenko in favour of an opponent who has pledged to restore the gas subsidies that were scaled back to secure an international bailout We cleared the garden she said in her house in the village of Skryhalivka 80 km 50 miles southwest of Kiev Not just me other people are doing it now previously you could heat with gas but now it s a problem Such frustrations could tip the balance in the March 31 election against Poroshenko whose market oriented reforms have helped stabilise a country battling Russian backed separatism and encouraged Western investors wary of pervasive corruption Graphic Ukraine presidential election Poroshenko was elected in 2014 after protests ousted a Kremlin friendly president and sent the government and the West on a collision course with Russia Russia annexed Crimea and supported the overthrow of government rule in eastern Ukraine An influential businessman who had made a fortune from confectionery he pledged to take the ex Soviet country out of Russia s orbit and restore control over the east in a matter of weeks The latter has not happened but he has overseen an uneasy stalemate with separatist held regions and ended a steep recession with around 3 4 percent growth last year Living standards however have continued to decline The average monthly wage has dropped the equivalent of almost 80 since 2013 and Ukrainians need more than three times as many local hryvnia to buy a dollar as they did then Inflation peaked at 43 percent in 2015 and the price of a cubic meter of gas is almost 12 times what it was in 2013 Since the revolution nothing has changed substantially for the better said Nadiya Yurchenko 79 who hoped for a higher pension heating allowance and better healthcare as well as peace with Russia when she voted for Poroshenko in 2014 Poroshenko won the first round outright in 2014 but many polls have shown the election frontrunner this time to be Yulia Tymoshenko a former prime minister and fiery campaigner who compares the gas price rise to genocide Another candidate who has surged in February is comic actor Volodymyr Zelenskiy a political novice and largely an unknown quantity For the IMF and most of Ukraine s western partners Poroshenko is a lesser evil he is an acceptable partner said analyst Volodymyr Fesenko However with their requirement for raising the price of gas and utility tariffs the IMF paradoxically ends up giving political help to those whom it fears he said CORRUPTION ISSUE Subsidised gas for households is a source of corruption in Ukraine because businesses divert it for their own use to avoid paying market prices draining money from the state budget The IMF which has lent 14 7 billion to Ukraine since April 2014 has made gradually bringing household tariffs in line with market prices a condition for more funding When gas prices were hiked in November Poroshenko said there had been no choice The government was caught between the bad and the very bad between tariff increases and a blow to macroeconomic stability IMF country head Gosta Ljungman has said price controls were ineffective at providing social protection and led to overconsumption and corruption while liberalising the market meant richer households paid more freeing cash for poorer ones The most optimal approach is to give markets the right to determine the price and then to provide well focused subsidies to those who need them most Ljungman told Ukrainian news site FinClub this month in comments his office referred Reuters to Government officials were not immediately available to comment on why some of the poorest Ukrainian households were not getting help to adjust to the new prices Price rises are among voters main concerns and gas prices came out top in an opinion poll by the Kiev International Institute of Sociology in October and early November when Poroshenko slipped from second into third place behind Tymoshenko and Zelenskiy Poroshenko moved back to second place after Ukraine s Orthodox Church won independence from the Russian Church in January and the government plans pension increases on Friday that his opponents say are designed to bolster his ratings But Fesenko said any gains may be offset by the arrival this month of the first higher gas bills and then those for other utilities Tymoshenko and other candidates like Yuriy Boyko a former energy minister popular mainly in Ukraine s Russian speaking east have used rising prices to attack the president Tempers flared at a lawmakers meeting on Monday when Tymoshenko accused Poroshenko and his associates of funnelling money gained from the price rises to offshore bank accounts an allegation swiftly denied by the leader of Poroshenko s faction After a Feb 16 meeting with Tymoshenko IMF chief Christine Lagarde stressed the urgency for Ukraine to continue reforms and safeguard its return to economic stability Tymoshenko says she wants to keep cooperation with the IMF but change the terms of the deal She has also promised sharp hikes in salaries and pensions and to change central bank policy to provide cheap loans to small businesses How she would act on those promises if she wins is unclear but it is enough to make many investors uncomfortable Poroshenko helped build foreign direct investment back up to 4 4 billion in 2016 but it fell to 1 87 billion in 2017 amid concern about Ukraine s finances far off the 5 46 billion under former president Victor Yanukovich The threat that cooperation with the IMF will be disrupted and the threat that the country will again return to the prospect of default is much higher if other candidates win said Serhiy Fursa a Kiev based investment banker at Dragon Capital Shoring up state finances means little to voters left out of pocket Liubov Spychak 73 year pensioner from the town of Cherkasy fought back tears as she described how expensive it had become to heat her two bedroom apartment In December almost four fifths of her pension went on utilities she said by telephone I am very ill after working my whole life for a chemical plant I can hardly walk and they rejected my application for subsidies In Skryhalivka in the Fastiv district where Poroshenko got around 65 percent of votes in 2014 villagers said many people were struggling With snow thick on the ground on a February afternoon and the thermometer on her living room table showing 5 degrees Celsius Yurchenko said her pension after a 45 year career as a teacher and school principal did not go far enough She has a 2015 calendar with Tymoshenko s face hanging on a bookshelf next to volumes of Fyodor Dostoevsky and James Joyce but will vote for Boyko as will her 60 year old neighbour Ignatiy whose fruit trees went to feed her stove Yurchenko estimates she would need to spend nearly four months worth of pension income to heat her home properly through the winter
Ignatiy said gas electricity and groceries were all getting more expensive Everything s going up except for salaries and pensions |
WMB | U N says Israel should face justice for Gaza protest killings | By Stephanie Nebehay and Dan Williams NYSE WMB GENEVA JERUSALEM Reuters United Nations investigators said on Thursday Israeli security forces may have committed war crimes and crimes against humanity in killing 189 Palestinians and wounding more than 6 100 at weekly protests in Gaza last year The independent panel said it had confidential information about those it believes to be responsible for the killings including Israeli army snipers and commanders and called on Israel to prosecute them The Israeli security forces killed and maimed Palestinian demonstrators who did not pose an imminent threat of death or serious injury to others when they were shot nor were they directly participating in hostilities it said In a scathing response Prime Minister Benjamin Netanyahu said Israel rejected the report out of hand and accused the U N Human Rights Council of hypocrisy and lies fueled by an obsessive hatred for Israel Palestinian President Mahmoud Abbas said the findings confirmed what we have always said that Israel conducts war crimes against our people in Gaza and the West Bank including in Jerusalem The International Criminal Court should act immediately and open a probe into the crimes conducted by Israel he said in a statement Protests at the frontier between Israel and the Gaza Strip began in March last year with Gazans calling on Israel to ease a blockade of the territory and for recognition of the right to return to lands their ancestors fled or were forced to flee when Israel was founded in 1948 Israel has said its forces opened fire to protect the frontier from incursions and attacks by armed militants No Israeli soldier was killed at the protests though four were injured the panel said The latest report covering the period from March 30 December 31 2018 to the U N Human Rights Council was based on hundreds of interviews with victims and witnesses as well as medical records video and drone footage and photographs INTERNATIONAL CRIMINAL COURT U N High Commissioner for Human Rights Michelle Bachelet should share their findings with the ICC the investigators said in the report Israel is not a member of the ICC and does not recognize its jurisdiction but the Hague based court opened a preliminary investigation into allegations of Israeli human rights abuses on Palestinian territory in 2015 The Gaza Strip a coastal enclave controlled by the Islamist group Hamas is home to 2 million Palestinians Some of these violations may constitute war crimes or crimes against humanity and must be immediately investigated by Israel Argentine legal expert Santiago Canton who led the panel said in a statement Our investigation found that the demonstrators were overwhelmingly unarmed even if they were not at all times peaceful he told a news briefing Thirty five children two journalists and three clearly marked paramedics were among those killed by Israeli forces in violation of international humanitarian law it said We are saying that they have intentionally shot children They have intentionally shot people with disabilities they have intentionally shot journalists said panel member Sara Hossain barrister at the Supreme Court of Bangladesh We found that one person a double amputee was shot and killed as he sat in his wheelchair On two separate days two people visibly walking on crutches were shot in the head They were killed she added Israel says its forces have at times come under gun or grenade attacks during the protests We recommend that the de facto authorities in Gaza stop their use of incendiary kites and balloons said panel member Betty Murungi referring to devices that destroyed some Israeli farmland
The call by a U N panel to bring Israeli occupation leaders to justice is evidence that occupation forces conducted crimes against humanity in the Gaza Strip Hamas official Ismail Rudwan told Reuters in Gaza |
WMB | NFL notebook TE Witten returns to Cowboys | Jason Witten agreed to a contract Thursday to rejoin the Dallas Cowboys for the 2019 season the team announced Witten 36 made a surprise retirement announcement last spring and joined ESPN s Monday Night Football booth for the 2018 season But the tight end who is ranked fourth all time in receptions has decided to return to Dallas for a 16th NFL season ESPN s Adam Schefter tweeted that Witten has agreed to a one year 3 5 million contract Ian Rapoport of NFL Network reported via Twitter that the deal could be worth 5 million with incentives Former Oklahoma star quarterback Kyler Murray already has exceeded expectations at the 2019 NFL Scouting Combine measuring a bit over 5 feet 10 and weighing 207 pounds Murray officially was listed at 5 10 at Oklahoma but most expected him to come in slightly below that Instead he measured an eighth of an inch over 5 10 Likewise his weight of 207 was 12 pounds over his listed weight with the Sooners easing concerns about his frame being too slight to hold up to the punishment of the NFL Known for his preparation Alabama offensive tackle Jonah Williams NYSE WMB was clearly ready for the barrage of questions about his 33 5 8 inch arms at the 2019 combine It s a small portion of what it takes to be a tackle at the next level Williams said of arm length I think I m proud of the way I play My approach to the game is what makes me a great player Signing Kareem Hunt was all about knowing his heart Cleveland Browns general manager John Dorsey said The running back was cut by the Kansas City Chiefs last season after being seen on video kicking and pushing a woman We had done our research said Dorsey who noted that the league was still reviewing Hunt s status We thought at the appropriate time with all the information we did have how truly remorseful he was and knowing when he comes here there are no guarantees he s going to earn your respect with his actions Right now I feel very comfortable with the signing Disgruntled wide receiver Antonio Brown said recent comments from Pittsburgh Steelers general manager Kevin Colbert confirmed that the team doesn t respect its players In an interview with ESPN which will air over the weekend Brown said he isn t angry with the Steelers but still wants to move on from the franchise Last week Colbert told reporters that quarterback Ben Roethlisberger has 52 kids under him quite honestly and wanted players to look to the veteran QB for guidance and advice Later Colbert seemed to step back from those comments The Los Angeles Rams are taking a wait and see approach with free agents Ndamukong Suh and Dante Fowler Jr but they hope to bring both back coach Sean McVay said General manager Les Snead added that there s a good possibility most of the team s free agents will test the market though that won t preclude the Rams from bringing anyone back New England Patriots owner Robert Kraft pleaded not guilty to solicitation of prostitution charges in Florida and is requesting a non jury trial according to court records Kraft is charged with two misdemeanor counts of soliciting prostitution at a day spa in Jupiter Fla Seattle Seahawks wide receiver Doug Baldwin is expected to be ready for the 2019 season after undergoing shoulder and knee surgeries coach Pete Carroll said Baldwin 30 missed two games in September with the knee injury which bothered him even before the start of the season His shoulder problem arose later in the campaign New Cincinnati Bengals offensive line coach Jim Turner a central figure of the bullying scandal in Miami more than five years ago said he has to be smarter in the way he motivates players Unfortunately some of the things that I said and some of the things I did with my players had to come out And so moving forward I just have to be smarter about what I do when I try to use entertainment to motivate the players said Turner who was fired by the Dolphins following the 2013 season Running back Bryce Love a draft prospect expects to be back on the football field in August Love is recovering from a torn ACL He returned to Stanford for his senior season in 2018 rather than entering last year s draft Love had 2 118 yards and 19 rushing touchdowns as a junior in 2017 when he finished runner up in Heisman Trophy voting to Baker Mayfield Free agent wide receiver Demaryius Thomas was in custody in Denver on charges stemming from a single car crash earlier this month according to multiple reports Thomas was being held for investigation of vehicular assault reckless driving and driving without insurance A complaint has been filed against former Green Bay coach Mike McCarthy with the Wisconsin high school sports regulatory body over what was termed his unacceptable behavior toward high school basketball officials earlier this week
The New York Jets are giving wide receiver Robby Anderson a second round level restricted free agent tender keeping him in the fold for another season according to multiple reports Field Level Media |
WMB | European shares start March on a high as Moncler WPP shine | By Julien Ponthus and Helen Reid LONDON Reuters European shares rose to five month highs in the morning of the first trading day of March as a fresh batch of corporate updates helped drive a risk on mood after U S President Donald Trump earlier fueled some concerns over trade talks with China The pan regional STOXX 600 index was up 0 7 percent by 0926 GMT to above 375 points a level not see since Oct 8 Momentum has flagged slightly in recent sessions and concrete news of an agreement between the U S and China is now needed to prolong the rally in risk assets wrote Peel Hunt analyst Ian Williams NYSE WMB noting that in the meantime it was up to corporate earnings to maintain morale Gains spread across all regional bourses with Germany s exporter heavy DAX leading the charge thanks notably to rising car makers stocks If corporate profits do grow which I think they will equities look reasonably good value said Edward Rumble European equity portfolio manager at RWC Partners The optimism on markets came despite mixed news from economic indicators Data showed euro zone manufacturing activity went into reverse for the first time in over five years but German retail sales jumped and the bloc s powerhouse unemployment remained at record lows All sectors were on the rise but telecoms were flat The sector a traditional defensive play has suffered from the 5 percent fall experienced by Belgium s Proximus after it published disappointing results Italian luxury group Moncler stole the spotlight with its 2018 results which broker Jefferies called remarkable and rose 8 7 percent Moncler peer benefited from the rally with Gucci owner Kering PA PRTP up 3 percent LVMH up 2 1 percent and Burberry rose 1 8 percent In the less fashionable food industry Spanish sausage casing producer Viscofan was up 7 6 percent after it struck an upbeat note on 2019 guidance and Kepler Cheuvreux upgraded it to hold from reduce Britain s WPP LON WPP the world s biggest advertising company rose 6 6 percent after its full year results came as a relief amid fears the industry is facing structural headwinds Investors have been cautious about the company since French rival Publicis earlier this month results alarmed the market Among financials Jupiter Fund Management was another big gainer up 8 5 percent after its dividend beat estimates The company paid out 90 percent of underlying earnings driving the beat write KBW analysts It was a different story for hedge fund manager Man Group which lost 3 6 percent after reporting funds under management fell last year Another disappointment came in from and Rightmove which fell 5 percent
The property website reported its slowest full year underlying operating profit growth in nine years sending its shares down nearly 7 percent at the bottom of London s blue chip index |
WMB | Graft accusation piles pressure on Israel s Netanyahu as election looms | By Stephen Farrell and Dan Williams NYSE WMB JERUSALEM Reuters Opposition protesters waved black flags outside Benjamin Netanyahu s residence on Friday sensing vulnerability in the Israeli prime minister weeks before an election where he will face the shadow of corruption charges as well as a surging new rival Aiming for a fifth term on April 9 that would make him Israel s longest serving premier Netanyahu is already playing catch up A poll issued on Friday gave his right wing Likud party 29 seats behind the 38 predicted for Blue and White a new centrist alliance led by the charismatic former general Benny Gantz That survey was taken before Attorney General Avichai Mandelblit announced on Thursday that he planned to indict Netanyahu on charges of bribery fraud and breach of trust Cabinet minister Yuval Steinitz told Israeli radio he was confident that Netanyahu will continue being able to contend with pressure of whatever kind noting that the previous Likud leader Ariel Sharon had won an election in 2003 despite a graft scandal But one of the Labour party flag wavers Alon Visser said It is a black day for the citizens of Israel We are all ashamed of our prime minister and we are calling him with one big voice Please resign from your office Netanyahu is suspected of wrongfully accepting 264 000 worth of gifts from tycoons and dispensing favours in an attempt to secure positive coverage in a newspaper and on a website He denies any wrongdoing but could face up to 10 years in prison if convicted of bribery However charges cannot be filed until Netanyahu has been given a chance to address a hearing which is unlikely to happen before the election In the Tel Aviv suburb of Ramat Gan social worker Coral Kala 24 said she had not been surprised by Mandelblit s announcement I think everyone was expecting this to happen But others echoed the position of Netanyahu widely known as Bibi that the political and media elites are against him I think that Bibi did a wonderful job said Tzipi Amit 44 from Petah Tikva
All the news and reporters want to hurt him and they are not fair to him All of us are people all of us make mistakes |
WMB | NHL roundup Jets pass Preds to gain division lead | Mark Scheifele Blake Wheeler and Kevin Hayes each collected one goal and three points as the host Winnipeg Jets erased an early two goal deficit to claim a 5 3 victory over the Nashville Predators on Friday night and vault into the top spot in the Central Division Goalie Laurent Brossoit stopped 35 shots for the Jets who snapped a two game losing skid and moved one point ahead of the Predators Winnipeg which went into the game with one win in six outings 1 4 1 also has three games in hand Amazingly the score was tied 2 2 with six minutes remaining before a wild finish featuring four goals down the stretch including a pair of empty net goals for Winnipeg Pekka Rinne made 27 saves for the Predators who have lost two straight and three of four games Capitals 3 Islanders 1 Jakub Vrana and Alex Ovechkin scored 68 seconds apart early in the third period for Washington who moved into a tie for first place in the Metropolitan Division with New York by scoring three in the third period at Uniondale N Y Both the Capitals and Islanders have 81 points though New York has a game in hand T J Oshie was credited with an empty net goal with 1 28 left for the Capitals who have won three straight and five of their past six Washington goalie Braden Holtby made 20 saves The Capitals are 2 1 0 this season against the Barry Trotz led Islanders Trotz steered Washington to the franchise s first Stanley Cup win last season Tom Kuhnhackl scored in the first period for the Islanders who have lost four of six 2 3 1 Goalie Thomas Greiss recorded 26 saves Sabers 4 Penguins 3 OT Conor Sheary s second goal of the game with 48 2 seconds left in overtime gave Buffalo a stunning win over visiting Pittsburgh Sheary s shot from above the left hash mark sailed past the blocker of goaltender Matt Murray on the winner Newly acquired defenseman Brandon Montour tied it 3 3 for Buffalo with 2 32 left in regulation on a long range shot that wove its way through a crowded crease and he also had an assist Linus Ullmark facing Pittsburgh for the first time in his career made 41 saves as the Penguins outshot the Sabres 44 30 Sidney Crosby had a goal and an assist Nick Bjugstad and Patric Hornqvist also scored and Justin Schultz had two assists for Pittsburgh which is 1 1 2 in its past four Canadiens 4 Rangers 2 Joel Armia recorded his first career hat trick and Carey Price made 28 saves as Montreal beat New York for a split of its four game road trip Brendan Gallagher also scored for the Canadiens who trailed 1 0 after the first period but rallied for their second straight win after dropping the first two games on the trip In the mix for a wild card spot in the Eastern Conference Montreal has won four of six following an 0 3 1 slide Henrik Lundqvist stopped 32 shots for the Rangers who have dropped three in a row 0 1 2 Hurricanes 5 Blues 2 Sebastian Aho broke a second period tie with a short handed goal as Carolina defeated visiting St Louis in Raleigh N C Justin Williams NYSE WMB Justin Faulk Jordan Staal and Andrei Svechnikov also scored for the Hurricanes Staal s goal was his first since Nov 2 He has played three games since returning to active status after missing about two months due to a concussion The Hurricanes have won four straight and 10 in their past 12 The Blues went 12 1 1 in February but they have experienced a recent dip in offensive production They ve gone five straight games without scoring more than two goals and they are 2 2 1 in that span Flyers 6 Devils 3 Travis Konecny was credited with a bizarre go ahead goal late in the second period as Philadelphia won at Newark N J Devils goalie Cory Schneider attempted to poke a loose puck out of the way of Konecny but the puck caromed off Konecny s shin pad and the skate of the New Jersey s Kevin Rooney before squirting into the net Philadelphia set an NHL record when it sent Cam Talbot to the crease marking the eighth goaltender it has used this season Talbot who was acquired from the Edmonton Oilers on Feb 15 finished with 30 saves in his debut with the Flyers Konecny joined New Jersey native James van Riemsdyk with two goal performances and Sean Couturier scored his team leading 26th for the Flyers who are 15 3 2 in their past 20 games Damon Severson scored his career high tying ninth goal for the cellar dwelling Devils who have lost four of their past six Golden Knights 3 Ducks 0 Marc Andre Fleury had 34 saves to pick up his league leading seventh shutout and visiting Vegas won its third consecutive game in sweeping the season series over lowly Anaheim It was the league leading 31st win of the season and 435th career victory for Fleury who moved within two of Jacques Plante for eighth place on the NHL s all time wins list Fleury also broke a tie with Nashville s Pekka Rinne as well as Bernie Parent and Ed Giacomin for 21st place in career shutouts with the 55th of his career William Karlsson Alex Tuch and Cody Eakin scored goals for Vegas which swept all four games with Anaheim this season outscoring the Ducks 14 3 in the process John Gibson back after missing nine games with an upper body injury finished with 31 saves for the Ducks who have lost five in a row Sharks 4 Avalanche 3 Marcus Sorensen scored two goals Joe Pavelski had a goal and an assist and host San Jose beat Colorado Martin Jones stopped 22 shots Timo Meier also had a goal and Kevin Labanc chipped in with two assists for the Sharks who played without defenseman Erik Karlsson and forward Evander Kane due to injuries
Mikko Rantanen Nikita Zadorov and Samuel Girard had goals Gabriel Landeskog had three assists and Semyon Varlamov finished with 36 saves for the Avalanche Field Level Media |
WMB | NBA roundup Bulls outlast Hawks in 4 OT thriller | Lauri Markkanen was perfect on a three shot foul in the fourth overtime to put Chicago ahead to stay and help the visiting Bulls earn a 168 161 win over the Atlanta Hawks on Friday in the third highest scoring game in NBA history The Bulls set a franchise record for points topping a 156 155 four overtime win at Portland on March 16 1984 Markkanen finished with 31 points his 12th straight game with 20 plus points He added 17 rebounds to secure his fifth straight double double a career best Chicago s Zach LaVine scored a career high 47 points and was 6 for 14 on 3 point attempts while adding nine rebounds and nine assists Atlanta got a franchise rookie record 49 points from Trae Young who was 17 for 33 from the floor with six 3 pointers 16 assists and eight rebounds Young became the first rookie since Earl Monroe in 1968 to produce a game with at least 49 points and 10 assists Bucks 131 Lakers 120 Eric Bledsoe converted a three point play with 2 25 remaining to give Milwaukee the lead for good and the visiting Bucks scored 15 of the game s final 17 points to defeat Los Angeles Lakers Thanks to the victory Milwaukee became the first NBA team to clinch a playoff berth this season Bledsoe finished with 31 points and Giannis Antetokounmpo chipped in with 16 points and 15 rebounds for the Bucks who won their seventh straight LeBron James had 31 points and 10 assists for the Lakers who have followed each of their past six wins with a loss In a fourth quarter that featured seven lead changes and six ties James gave the Lakers their last advantage at 118 116 by sinking a 3 pointer with 3 11 left but the Bucks dominated the rest of the game Raptors 119 Trail Blazers 117 Kawhi Leonard made the winning jump shot in the final seconds to finish with 38 points as Toronto defeated visiting Portland Marc Gasol added 19 points eight rebounds and six assists as Toronto ended Portland s season high five game winning streak The Raptors have won nine of 10 games Kyle Lowry had 19 points 10 assists and seven rebounds for Toronto CJ McCollum led Portland with 35 points while Damian Lillard had 24 points eight rebounds and six assists Clippers 116 Kings 109 Rookie Landry Shamet had 20 points and Danilo Gallinari added 19 as visiting Los Angeles withstood a physical game between playoff contenders in beating Sacramento Lou Williams NYSE WMB scored 17 points as the Clippers solidified their hold on a playoff spot in the Western Conference with five weeks remaining in the regular season Buddy Hield scored 23 points despite 6 for 19 shooting and Willie Cauley Stein added 16 points and 12 rebounds for Sacramento Celtics 107 Wizards 96 Al Horford led seven Celtics in double figures with 18 points and host Boston snapped a four game losing streak by defeating Washington Kyrie Irving had 13 points and 12 assists for the Celtics who picked up their first win since the All Star break Marcus Morris had 17 points and Marcus Smart added 16 Bradley Beal led the Wizards with 29 points and 11 rebounds Jeff Green and Tomas Satoransky added 15 points each for Washington Hornets 123 Nets 112 Kemba Walker scored 25 points and Charlotte took control in the second quarter while recording a victory over Brooklyn on New York as the teams split their four game season series Walker led seven Hornets in double figures Charlotte won for just the third time in the past 10 games and moved a half game ahead of idle Orlando into eighth place in the Eastern Conference D Angelo Russell scored 22 points and handed out nine assists but the Nets lost for the ninth time in 14 games and the fifth time in their past eight Russell shot 9 of 24 and missed 6 of 7 3 point attempts Pelicans 130 Suns 116 Julius Randle Jrue Holiday and E Twaun Moore each hit or eclipsed the 20 point mark as visiting New Orleans defeated Phoenix Randle finished with 22 points Holiday had 21 Moore came off the bench to add 20 and Cheick Diallo had 15 points and 12 rebounds for the Pelicans New Orleans continued to restrict the minutes for All Star forward Anthony Davis 17 points in 21 minutes in the wake of his recent trade demand
Devin Booker scored 26 Kelly Oubre Jr added 19 and Deandre Ayton had 16 for the Suns who missed an opportunity to win consecutive games for the first time since a four game winning streak in mid December Field Level Media |
VZ | Why Is Verizon VZ Up 5 3 Since Last Earnings Report | A month has gone by since the last earnings report for Verizon Communications VZ Shares have added about 5 3 in that time frame outperforming the S P 500
Will the recent positive trend continue leading up to its next earnings release or is Verizon due for a pullback Before we dive into how investors and analysts have reacted as of late let s take a quick look at its most recent earnings report in order to get a better handle on the important catalysts Verizon Q2 Earnings Surpass Estimates Revenues LagVerizon reported relatively healthy second quarter 2019 results primarily led by the wireless business With industry leading wireless products and services the company remains well poised to benefit from increased 5G deployment across the country under the new operational framework Quarter DetailsGAAP earnings for the reported quarter were 4 074 million or 95 cents per share compared with 4 246 million or 1 00 per share in the year ago quarter The year over year decrease in GAAP earnings despite lower operating expenses was primarily attributable to early debt redemption costs Excluding non recurring items adjusted earnings were 1 23 per share compared with 1 20 in the year earlier quarter and beat the Zacks Consensus Estimate by 3 cents Consolidated GAAP revenues declined 0 4 year over year to 32 071 million as wireless service revenue growth was offset by lower wireless equipment and wireline service revenues The top line missed the Zacks Consensus Estimate of 32 395 million Operating income improved 18 6 year over year to 7 709 million as diligent execution of operational plans led to lower operating costs Segment PerformanceThe company has reorganized its operating segments under its new operating structure dubbed Verizon 2 0 Under this operating structure the new segments of the company are Consumer and BusinessConsumer Total revenues from this segment were almost flat year over year at 21 995 million Service revenues improved 1 9 to 16 350 million due to shift to higher priced plans incremental contributions from retail postpaid net additions and an increase in connections per account Equipment revenues decreased 8 2 to 3 903 million as focus on high end devices and technology upgrades led to soft sales while Other revenues totaled 1 742 million up 2 3 year over year Operating income improved 3 9 to 7 336 million due to higher retail postpaid connections Quarterly operating income margin was 33 4 compared with 32 1 in the year ago quarter Segment EBITDA was 10 217 million resulting in EBITDA margin of 46 5 compared with respective tallies of 10 057 million and 45 7 in the prior year quarter Verizon reported 126 000 retail postpaid net additions in second quarter 2019 Quarterly retail postpaid churn rate increased to 0 97 from 0 93 in the year ago quarter Wireless retail postpaid ARPA average revenue per account was 118 15 compared with 115 53 in the year ago quarter Business Total revenues in the segment were 7 768 million down 1 1 year over year owing to lower Wholesale revenues down 15 1 to 818 million and Global Enterprise down 4 8 to 2 673 million Small and Medium revenues increased 5 4 to 2 785 million while Public Sector and Other revenues were up 3 8 to 1 492 million Despite growth in high quality fiber products Verizon continued to face pricing pressures on legacy products and technology shifts Although Verizon added a net of 34 000 Fios Internet connections due to strong demand for value broadband connections it lost 52 000 Fios Video connections amid pressures from cord cutting of video bundles reflecting a strategic shift from traditional linear video to over the top offerings Quarterly income was 1 071 million compared with 1 101 million in the year ago quarter Segment EBITDA fell 2 to 2 117 million for EBITDA margin of 27 3 compared with 27 5 in the year ago quarter Cash Flow and LiquidityVerizon generated 15 836 million of cash from operating activities in the first half of 2019 compared with 16 433 million in the year ago period The year over year decrease was driven by higher cash taxes and cash payments related to the Voluntary Separation Program At quarter end Verizon had 1 949 million of cash and cash equivalents and 104 598 million in long term debts The company recorded high capital expenditures of 7 967 million during the quarter in order to support the transition for the launch and continued build out of its 5G Ultra Wideband network deployment of significant fiber assets across the country and upgrade to Intelligent Edge Network Till date Verizon has achieved 4 1 billion of cumulative cash savings and remains on track to achieve cumulative cost savings of 10 billion by 2021 The company completed the third and final phase of its Voluntary Separation Program and has realized approximately 480 million of expense savings year to date Guidance Reiterated For full year 2019 Verizon reiterated its earlier guidance on underlying strength of its business model and healthy momentum in its wireless business Adjusted earnings per share are likely to increase by low single digits while GAAP revenues are likely to increase by low single digit percentage rates driven by expected savings from tax reform and higher cash flow from operations Capital expenditures for 2019 are likely to be in the range of 17 billion to 18 billion Moving ForwardWith one of the most efficient wireless networks in the United States Verizon is likely to benefit immensely from the launch of the 5G Ultra Wideband network in select markets across the country as it gears up to increase the tally of 5G Ultra Wideband mobility cities to 30 in 2019
How Have Estimates Been Moving Since Then
In the past month investors have witnessed an upward trend in estimates review
VGM Scores
At this time Verizon has a nice Growth Score of B though it is lagging a lot on the Momentum Score front with an F However the stock was allocated a grade of B on the value side putting it in the top 40 for this investment strategy
Overall the stock has an aggregate VGM Score of B If you aren t focused on one strategy this score is the one you should be interested in
Outlook
Estimates have been broadly trending upward for the stock and the magnitude of these revisions looks promising It comes with little surprise Verizon has a Zacks Rank 2 Buy We expect an above average return from the stock in the next few months |
VZ | AT T T Inks New Content Carriage Agreement With Starz | AT T Inc s NYSE T subsidiary AT T Communications has entered into a new multi year content carriage agreement with Starz a Lions Gate Entertainment Corp s media and entertainment firm Financial terms of the deal were not disclosed AT T s customers can now get more choice and value in addition to compelling amusement This deal secures rights for AT T to offer the full suite of STARZ and STARZ ENCORE premium linear and HD channels On Demand HD On Demand and online services to its DIRECTV AT T TV and U verse video platform customers Markedly the comprehensive agreement gives millions of AT T subscribers access to Starz s acclaimed premium original content and library of blockbuster films The news came in a day after the telecom and media giant reached a deal with Nexstar Media Group Inc NYSE T that will bring broadcast feeds back in 97 markets after a two month dispute Recently AT T resolved a dispute with CBS which witnessed CBS stations in New York City Los Angeles and across the nation go dark on DirecTV DirecTV Now and U verse cable systems Core FocusAT T is aggressively building FirstNet for first responders and creating next generation mobile 5G Over the past five years the company has invested around 145 billion in wireless and wireline networks including capital investments and acquisitions of wireless spectrum and operations Its fiber network is one of the nation s largest and connects more Internet of Things devices compared with any other provider in North America AT T intends to deploy a standards based nationwide mobile 5G network in early 2020 The company s 5G service involves utilization of millimeter wave spectrum for deployment in dense pockets while in suburban and rural areas it plans to deploy 5G on mid and low band spectrum holdings Together with technology partners AT T has made the world s first wireless 5G data transfer over millimeter wave using production equipment with a mobile form factor device At present the company s 5G Evolution technology is live in more than 200 markets and is expected to reach more than 400 markets by the end of 2019 In the last earnings report the company s operating revenues from the Communications segment were 35 508 million up 0 3 year over year Service revenues from the Mobility unit improved 2 4 year over year to 14 006 million on the back of subscriber gains and postpaid phone ARPU growth Revenues from the Entertainment Group were down 1 to 11 368 million The segment s operating income was 8 737 million compared with 8 414 million in the year ago quarter driven by focus on cost initiatives AT T has long term earnings growth expectation of 4 4 Driven by diligent execution of operational strategies the stock has rallied 23 5 compared with the s growth of 12 4 in the year to date period AT T currently has a Zacks Rank 3 Hold A better ranked stock in the industry is Verizon Communications Inc NYSE VZ carrying a Zacks Rank 2 Buy You can see Verizon surpassed earnings estimates in each of the trailing four quarters the average positive surprise being 2 6 The Hottest Tech Mega Trend of AllLast year it generated 8 billion in global revenues By 2020 it s predicted to blast through the roof to 47 billion Famed investor Mark Cuban says it will produce the world s first trillionaires but that should still leave plenty of money for regular investors who make the right trades early |
VZ | Verizon 1 4 on Q3 beats with phone subscriber strength | Verizon NYSE VZ gains 1 4 premarket on Q3 beats with a 3 Y Y revenue growth Phone subscribers beat estimates thanks to a sweet iPhone deal but Oath revenue and Fios subscriptions showed some weakness Guidance has full year consolidated revenue growth at low to mid single digit percentage on a GAAP basis The company also reaffirms a low single digit percentage growth in adjusted EPS for the year Verizon cuts its capital spending guidance for the year from 16 6B to 17B from 17B to 17 8B Key subscriber metrics Phone subscribers who pay a monthly bill grew by 295K net adds in Q3 consensus 161K Fios video subscribers dropped by 63K compared to the 18K decline in last year s quarter Fios internet grew by 54K customers last year 66K Oath Revenue from Oath AOL and Yahoo NASDAQ AABA was 1 8B down from 2B in last year s quarter Verizon doesn t expect Oath to reach its target of 10B by 2020 Verizon says it s on track to reach its 10B in cumulative cash savings by 2021 Press release Previously Verizon beats by 0 03 beats on revenue Oct 23 Now read |
VZ | Verizon Rises 3 | Investing com Verizon NYSE VZ rose by 3 38 to trade at 56 84 by 09 33 13 33 GMT on Tuesday on the NYSE exchange
The volume of Verizon shares traded since the start of the session was 1 83M Verizon has traded in a range of 56 09 to 57 15 on the day
The stock has traded at 57 1200 at its highest and 53 2600 at its lowest during the past seven days |
VZ | Verizon to spend 25 million to upgrade Florida network | By David Shepardson WASHINGTON Reuters Verizon Communications Inc N VZ said on Wednesday it will spend 25 million to update its network in Florida s Panhandle an area hard hit by service outages after Hurricane Michael Verizon the largest U S wireless carrier said in a statement its network was operational in the area and efforts are underway to further stabilize and strengthen our wireless network The company said it would commit the funds to build the most technologically advanced wireless network in the area and plans to add next generation wireless 5G technology in Panama City Florida joining the much larger cities of Los Angeles Houston Indianapolis and Sacramento California The move follows criticism of the company s performance by elected officials in Florida after the storm damage Federal Communications Commission Chairman Ajit Pai last week called for wireless carriers to waive October bills for people most severely affected by Hurricane Michael Later that day Verizon said it would waive bills for consumer and business customers in two Florida counties for three months Verizon last week extended the three month bill waiver to another seven Florida counties Michael crashed into the Florida Panhandle on Oct 10 as one of the most powerful storms on record to hit the continental United States The storm damaged fiber networks and electrical wires necessary for broadband and mobile phone service Pai said last week that progress in restoring service was completely unacceptable and that the FCC will investigate the outages He said Tuesday he had met with all four major U S wireless carriers last week to understand the urgency of the situation The FCC said nearly all wireless cell sites are back in service in Florida but 14 percent remain out in Gulf County and 17 percent in Bay County Verizon attributed the delays in restoring coverage in part to significant damage to fiber connections in Florida s Panhandle the strength of the storm and repeated new cuts to its fiber network by repair crews U S Senator Bill Nelson a Florida Democrat said last week in a letter to Verizon that its competitors had been restoring service much faster Verizon said the 25 million network technology upgrade would be largely spent in 2019 |
WMB | NBA roundup Knicks wallop Spurs to end 18 game home skid | Damyean Dotson drained a career high eight 3 pointers and scored a team high 27 points Sunday night as the New York Knicks ended a franchise record 18 game home losing streak by beating the San Antonio Spurs 130 118 The Knicks who hadn t won at home since beating the NBA leading Milwaukee Bucks 136 134 in overtime on Dec 1 came within one loss of tying the NBA record for the longest home losing streak which was established by the Dallas Mavericks during the 1993 94 season Kevin Knox 19 points 10 rebounds Mitchell Robinson 15 points 14 rebounds and Dennis Smith Jr 19 points 13 assists each had double doubles for the Knicks who won for just the fifth time in the last 37 games DeMar DeRozan scored 32 points for the Spurs who have lost six of seven but remained tied with the Los Angeles Clippers for seventh place in the Western Conference Nuggets 123 Clippers 96 Nikola Jokic had 22 points and 16 rebounds Paul Millsap scored 21 and also grabbed 16 boards and host Denver beat Los Angeles for its fourth straight win Jamal Murray scored 16 points and Gary Harris added 14 off the bench in his second game back from a right adductor strain as the Nuggets pulled to within a game of Golden State in the Western Conference standings Lou Williams NYSE WMB had 24 points for the Clippers who had their two game winning streak snapped Magic 113 Raptors 98 Nikola Vucevic scored 23 points and grabbed 12 rebounds to help Orlando defeat host Toronto for the second time in three games this season Former Raptor Terrence Ross added 28 points and nine rebounds off the bench for the Magic who have won six of their past seven games and snapped Toronto s seven game winning streak
Kyle Lowry had 19 points and 10 assists and Pascal Siakam had 10 points and 11 rebounds for the Raptors who were without Kawhi Leonard for what was described as a load management day Field Level Media |
WMB | Rock band Queen plus Adam Lambert open first hostless Oscars in 30 years | By Steve Gorman LOS ANGELES Reuters British rock band Queen featuring American Idol star Adam Lambert as lead vocalist opened the first hostless Oscars show in 30 years on Sunday with a rollicking performance that brought the Dolby Theatre s celebrity crowd to its feet Queen s turn at the Academy Awards marked the first time that the U S film industry s highest honors were kicked off by a rock band and set the tone for a telecast punctuated with memorable musical moments and major recording stars The two active surviving musicians from Queen s original lineup guitarist Brian May and drummer Roger Taylor joined Lambert filling in as frontman for the late Freddie Mercury to play two of the band s greatest hits We Will Rock You and We Are the Champions The familiar guitar and drum riffs brought the star studded theater audience out of its chairs with many of the Hollywood luminaries singing along It also foreshadowed a big night for Bohemian Rhapsody the hit film about Mercury and Queen that was nominated for best picture It ended up winning in four other categories including best actor for Rami Malek s portrayal of Mercury Launching the ABC telecast with a live rock act was an unprecedented choice that came about after comedian Kevin Hart originally picked to host the show bowed out because of a furor over past homophobic material in his standup act and tweets Hart s withdrawal in December left the Oscars without a master of ceremonies for the first time since 1989 That year the broadcast opened with an 11 minute song and dance number widely derided by critics featuring Rob Lowe and an actress dressed as Snow White OSCARS BORROW GRAMMY VIBE In recent years the opening monologue of the Oscar host has become a platform for gags and jokes lampooning politicians and Hollywood Instead producers placed greater emphasis this year on musical performances and quick stage cameos by celebrity guests ranging from singer actresses Barbra Streisand and Jennifer Lopez to tennis champion Serena Williams NYSE WMB and U S Congressman John Lewis Comic actor Keegan Michael Key was lowered to the stage on fly wires to introduce Bette Midler s rendition of The Place Where Lost Things Go from the film Mary Poppins Returns Jennifer Hudson performed I ll Fight from the documentary about Supreme Court Justice Ruth Bader Ginsburg RBG And actor director Bradley Cooper joined his co star Lady Gaga in climbing the steps from the audience to the stage for an intimately rendered duet of Shallow from their film remake of A Star is Born The song which Gaga co wrote won for best original song But the opening strains of We Will Rock You were perhaps the most riveting musically a moment as worthy of the Grammys as the Oscars Lambert first appeared with Queen s May and Taylor in 2009 as a contestant on the hit talent show American Idol when he performed two of the band s hits on that program The trio went on to collaborate occasionally in 2011 and have since toured repeatedly together as Queen Adam Lambert Oscar producers anxious to boost viewership after a record low U S TV audience in 2018 also were under pressure to keep the telecast within its three hour designated time slot It ended up running about 20 minutes over The Academy of Motion Picture Arts and Sciences was counting on the box office popularity of several of the most nominated films this year including Black Panther Bohemian Rhapsody and A Star is Born to help reinvigorate the show Months ago the academy abandoned an ill fated plan to create a new category of best popular movie as a way of boosting Oscar ratings Despite the lack of an official show host Maya Rudolph got in some jabs as she took the stage with two fellow actress comedians Tina Fey and Amy Poehler to present the night s first award to Regina King as best supporting actress for her role in If Beale Street Could Talk
There is no host tonight there won t be a popular movie category and Mexico is not paying for the wall Rudolph deadpanned skewering the academy as well as U S President Donald Trump s campaign promise to build a southern U S border wall at Mexico s expense |
WMB | Cartoon of tennis star Serena Williams not racist Australia watchdog | SYDNEY Reuters A cartoon published in an Australian newspaper that depicted tennis star Serena Williams NYSE WMB having a temper tantrum at the U S Open last year was not racist Australia s media watchdog said on Monday The caricature of an angry Williams with exaggerated lips and tongue and a wild plume of curly hair rising above her head as she stomped on her tennis racket was condemned as racist by civil rights leaders celebrities and fans Melbourne s Herald Sun newspaper and cartoonist Mark Knight denied the image was racist The Australian Press Council said on Monday the cartoon did not breach its standards of practice The Council considers that the cartoon uses exaggeration and absurdity to make its point but accepts the publisher s claim that it does not depict Ms Williams as an ape rather showing her as spitting the dummy the council said using an Australian phrase for a child having a temper tantrum The image was a non racist caricature familiar to most Australian readers the council said in a statement The newspaper said the cartoon was intended as a lampoon of the tennis star s angry exchanges with chair umpire Carlos Ramos at the U S Women s Singles final in New York Williams clashed with Ramos over penalties she thought she did not deserve and ultimately lost to Naomi Osaka The U S based National Association of Black Journalists said at the time the cartoon was repugnant on many levels and not only exudes racist sexist caricatures of both women but Williams depiction is unnecessarily sambo like Sambo a derogatory term for a black person is the name of a folkloric figure usually depicted with an exaggerated mouth and an ape like stance The Council acknowledged that some readers found the cartoon offensive
However there was a sufficient public interest in commenting on behaviour and sportsmanship during a significant dispute between a tennis player with a globally high profile and an umpire at the U S Open final it said |
WMB | Democratic U S lawmakers seek ethics probe of top EPA officials | Reuters Democratic lawmakers on Monday asked the Environmental Protection Agency s inspector general to investigate whether two senior agency officials violated ethics rules by helping reverse an enforcement decision against their former client company The request comes as Democrats who now control Congress and oppose President Donald Trump s push to roll back environmental regulation to help businesses scrutinize top officials at EPA who have worked as industry lobbyists in the past House energy committee chairman Frank Pallone and Senators Sheldon Whitehouse and Tom Carper asked the acting inspector general of the EPA to investigate whether the agency s Assistant Administrator Bill Wehrum and Senior Counsel David Harlow violated federal ethics law At issue is their alleged involvement in a December 2017 EPA memo that changed agency policy in a way that benefited DTE Energy a client of Wehrum and Harlow at their previous employer Hunton Williams NYSE WMB a law firm representing energy industry companies DTE had been in a legal battle with the EPA since 2010 over whether the agency could fine it for expanding a coal fired power plant in Michigan without having added new emissions controls even before any significant increase in pollution from the facility had occurred In the memo then Administrator Scott Pruitt changed the EPA s stance to agree with DTE that fines should come only after emissions increase not before a decision that effectively took EPA s preventative effort to fine DTE off the table The DTE memo is plainly a substantial decision that had a direct and predictable effect on a particular matter involving a client represented by their former law firm the lawmakers wrote EPA spokesman John Konkus said EPA appointees receive rigorous ethics training from career ethics officials Each of them understand and strive to uphold their ethical obligations he said Wehrum told the Washington Post which first reported on the officials involvement in the memo that he believed he complied with agency ethics policies
I have from day one tried to be absolutely strict and assiduous as to what I do about complying with my ethical obligations Wehrum told the Washington Post |
WMB | NBA roundup Harden s 30 point streak ends in win | James Harden had his streak of consecutive 30 point games end at 32 but he and Chris Paul helped the host Houston Rockets withstand a career night from Atlanta Hawks rookie guard Trae Young en route to a 119 111 win on Monday Harden posted 28 points despite finishing 0 for 10 from 3 point range He had an opportunity to pursue an extension of the streak the second longest in league history behind Wilt Chamberlain s 65 game run in 1961 62 but he dribbled out the clock with the victory secure Harden had sat out the Rockets previous game a Saturday road win over the Golden State Warriors due to a neck injury Paul added 20 points eight assists and six rebounds Young paired 36 points on 8 of 12 shooting from 3 point range with eight assists John Collins chipped in 20 points and 12 rebounds for the Hawks 76ers 111 Pelicans 110 Tobias Harris scored 29 points while All Star center Joel Embiid sat out his third consecutive game with a sore left knee as visiting Philadelphia held on to defeat New Orleans After Julius Randle scored on a dunk to pull New Orleans within one point with 10 9 seconds left Philadelphia s Jonathon Simmons missed two free throws with 9 7 seconds to go giving the Pelicans a chance to win However Jimmy Butler tipped E Twaun Moore s 3 point attempt forcing a miss just before the buzzer JJ Redick added 16 points for the 76ers Jrue Holiday led the Pelicans with 22 points and Randle had 19 points and 14 rebounds Anthony Davis who returned to the lineup after sitting out to rest Saturday night had 18 points Warriors 121 Hornets 110 Klay Thompson scored 26 points and DeMarcus Cousins had 24 points and 11 rebounds as visiting Golden State beat Charlotte The Warriors have now won 16 of their past 18 road games Cousins might have had his best game since returning from an Achilles injury 14 games ago He was 9 of 15 from the field and was on the court for most of the Warriors runs Cody Zeller scored a career high 28 points to lead the Hornets hitting 13 of 14 from the field The Hornets also got 23 points from Kemba Walker Suns 124 Heat 121 Devin Booker scored 20 points and dished nine assists as Phoenix snapped a franchise record 17 game losing streak with a win at Miami Booker fouled by Josh Richardson with 17 3 seconds left made two free throws to give Phoenix a 122 121 lead Wade later missed a 3 point attempt to tie the score and Phoenix escaped with its first win since beating the Denver Nuggets on Jan 12 The Heat have lost six straight home games and haven t won in Miami since that same date Jan 12 since they beat Memphis Heat center Hassan Whiteside had 29 points and 11 rebounds Timberwolves 112 Kings 105 Karl Anthony Towns scored 34 points and collected 21 rebounds in his return from a concussion to lead Minnesota over Sacramento in Minneapolis Towns played in 303 consecutive games before missing the past two due to the concussion Derrick Rose added 20 points for the Timberwolves who won for the fourth time in the past five games Tyus Jones contributed 16 points and eight assists as Minnesota overcame 22 turnovers Marvin Bagley III recorded 25 points and 11 rebounds to notch his third straight double double for the Kings who finished 1 3 on a four game road trip De Aaron Fox scored 23 points and Buddy Hield had 18 points and eight rebounds for Sacramento which committed 20 turnovers Grizzlies 110 Lakers 105 Mike Conley scored 30 points and Memphis ended a four game losing streak by beating visiting Los Angeles Jonas Valanciunas had 20 points and 13 rebounds Avery Bradley scored 15 and Joakim Noah finished with 14 points and 12 rebounds off the bench for Memphis LeBron James had 24 points 12 rebounds and 11 assists Brandon Ingram scored 32 points and Kyle Kuzma finished with 22 points for the Lakers who went 0 2 on a brief road trip James moved into the NBA s all time top 10 in assists making him the only player on that list and the top 10 in career points Clippers 121 Mavericks 112 Montrezl Harrell scored a career high 32 points and Lou Williams NYSE WMB added 21 as Los Angeles bench rode to the rescue again in a victory over visiting Dallas Danilo Gallinari led the starting five with 20 points as the Clippers won for the fourth time in their past six games and beat the Mavericks at home for the fifth consecutive time Luka Doncic recorded a triple double with 28 points 10 rebounds and 10 assists and veteran Dirk Nowitzki added 12 in his second start of the season and 1 500th career game as the Mavericks lost their fifth consecutive game and fell for the sixth time in their past seven games Pistons 113 Pacers 109 Andre Drummond powered his way to 26 points and 16 rebounds Blake Griffin recorded a triple double and Detroit collected a win over visiting Indiana Detroit has won seven of its last eight including all three outings since the All Star break Griffin racked up 20 points 10 rebounds and 10 assists Luke Kennard had 19 points off the bench while Wayne Ellington and Reggie Jackson added 14 points apiece Bojan Bogdanovic s 25 points led Indiana which had won eight of its previous nine Reserve Domantas Sabonis had 23 points and seven rebounds but he hobbled off with an ankle injury with a minute remaining Darren Collison supplied 21 points and five assists Nets 101 Spurs 85 D Angelo Russell scored 23 points and Brooklyn led most of the way in cruising to victory over San Antonio which ended its eight game road trip with a 1 7 record Russell added eight assists and seven rebounds after matching a career high Saturday with 40 points in a win at Charlotte The Nets won for the 15th time in their past 19 home games LaMarcus Aldridge scored 26 points for the Spurs who missed 20 of 24 3 point attempts and set a season low for points DeMar DeRozan added 23 points Trail Blazers 123 Cavaliers 110 Portland squandered most of a 23 point halftime lead but CJ McCollum and Seth Curry came to the rescue as Portland beat host Cleveland In winning their fourth straight the Trail Blazers never trailed and scored more than 100 points for the 26th straight game McCollum scored 35 points lead the Trail Blazers Damien Lillard added 21 points and eight assists and Jusuf Nurkic recorded 15 points and eight rebounds Cedi Osman led the Cavaliers with 27 points and Jordan Clarkson added 19 off the bench Kevin Love scored 18 points and grabbed 12 rebounds to notch his third straight double double He is five games into his return to the lineup after foot surgery Bucks 117 Bulls 106 Malcolm Brogdon and Khris Middleton scored 22 points apiece and Milwaukee cruised to a victory at Chicago Brook Lopez and Nikola Mirotic added 13 points apiece for the Bucks who won their fifth game in a row Milwaukee shot 46 2 percent 42 of 91 from the field and knocked down 17 shots from beyond the arc
Lauri Markkanen and Robin Lopez each had 26 points in a losing effort for the Bulls Chicago s three game win streak ended as the Bucks completed a four game sweep in the regular season series Field Level Media |
WMB | NBA Nowitzki and Doncic have fans cheering Mavs past and future | By Jahmal Corner LOS ANGELES Reuters Dallas Mavericks Slovenian sensation Luka Doncic was lighting up the game against the Los Angeles Clippers this week when a high profile fan summoned him to his courtside seat at the Staples Center Former five division boxing world champion Floyd Mayweather who still commands the spotlight even in retirement wanted to offer a seal of approval from one showman to another He said he plays like me Doncic told Reuters of his interaction with Mayweather on Monday I said cool I want to see it live The Mavericks may not be winning many games but between Doncic and future Hall of Famer Dirk Nowitzki who is potentially playing his farewell season they are winning over NBA arenas and turning foes to friends The Clippers defeated the Mavericks 121 112 but the night belonged to the NBA s most popular duo at the moment the past and future of the Dallas franchise Nowitzki 40 is playing in his 21st NBA season and while the German has not announced that he will retire at the end of the campaign the mere possibility has been enough to commemorate his every NBA stop Nowitzki played in his 1 500th career game on Monday only three players have played in more and was cheered wildly by the L A crowd every time he touched the ball He put up 12 points but it felt like 50 given the fan reaction Clippers coach Doc Rivers added to the adulation when he called a timeout with nine seconds left in the game grabbed the public address announcer s microphone and paid tribute to Nowitzki The crowd then gave Nowitzki a standing ovation and Clippers players came over to pay homage to the German veteran The career that he had has been excellent Clippers guard Lou Williams NYSE WMB told reporters He is a champion in this league and one of the trailblazers for international players coming over to the NBA DALLAS SHARPSHOOTER The NBA created a special roster spot for Nowitzki earlier this month at the All Star Game and the Dallas sharpshooter is now being embraced in places he was once feared and reviled It s definitely different Nowitzki told Reuters A couple weeks ago in Boston and Indianapolis fans are cheering and I m trying to actually score a basket for them because I haven t scored all game That was weird Never had that in my career The fans have been incredible While Nowitzki may be saying goodbye 19 year old point forward Doncic is introducing himself to fans Doncic teased the Clippers and stole the show with a series of step back three pointers and precise passes that have become a regular part of his act His night included 28 points 10 rebounds 10 assists and nine turnovers fully showcasing the risk and reward style of the Mavericks teenager At one stage in the second quarter Doncic tried to throw a pass around a defender to himself His team mates could only laugh but coach Rick Carlisle known for being tough on his point guards sent Doncic to the bench At times it s tough for him because he feels like he can thread any needle Carlisle said And throw the ball through one guy s nose through his rear end and to a team mate You just can t do that in this league on a consistent basis That aside Doncic has earned rave reviews throughout the league as he closes in on a Rookie of the Year honor putting up 20 9 points 7 2 rebounds and 5 7 assists per game
In truth Doncic bends the definition of a rookie Long before the Mavs acquired Doncic in a trade with the Atlanta Hawks in the 2018 NBA Draft he made his professional debut with the Real Madrid senior team at 16 He led Madrid to the 2018 EuroLeague title winning the EuroLeague MVP He s exceeded all expectations Nowitzki said He ll be fun to watch hopefully for Mavs fans for a long long time |
WMB | Comedian takes center stage in Ukraine s presidential race | By Matthias Williams NYSE WMB and Margaryta Chornokondratenko KIEV Reuters In a popular Ukrainian TV series comedian Volodymyr Zelenskiy plays a president who is scrupulously honest and outwits crooked lawmakers and shadowy businessmen who try to stand in his way Zelenskiy s character in the show Servant of the People is loved by Ukrainians fed up with how their country has been governed since independence in 1991 Now they have the chance to turn fantasy into reality in presidential elections on March 31 The 41 year old actor announced a presidential bid on New Year s Eve and he has since emerged as the surprise frontrunner ahead of incumbent Petro Poroshenko and opposition leader Yulia Tymoshenko in a crowded field of 44 candidates Zelenskiy s sudden rise comes at a time voters around the world have upended the status quo propelling anti establishment forces such as U S President Donald Trump and Italy s 5 Star Movement which was also once led by a comedian to power Critics question Zelenskiy s political inexperience while investors worry that he s more of an unknown quantity than Poroshenko After all if he becomes leader the TV star would be in charge of a country at war in need of fundamental change Asked in an interview with Reuters what sets him apart from other candidates Zelenskiy pointed to his face This This is a new face I have never been in politics he said after hosting a TV comedy talent show I have not deceived people They identify with me because I am open I get hurt I get angry I get upset I do not hide my emotions on camera I do not try to look different If I m inexperienced in something I m inexperienced If I don t know something I honestly admit it After performing in student theater Zelenskiy came to prominence as a team captain in the TV show KVN where teams compete against each other with jokes and song and dance routines In 2003 his team formed the basis of TV production company Kvartal 95 which makes Servant of the People SELLING THE DREAM In the TV series Zelenskiy starts out as a humble high school history teacher who becomes president after an expletive laced tirade about Ukraine s corrupt political class secretly filmed by one of his students goes viral Disaffection with how little has changed under Poroshenko has helped fuel Zelenskiy s popularity according to Serhiy Leshchenko an investigative journalist and lawmaker The desire of Ukrainian citizens is to have new faces to have new politicians ready to reshuffle the whole political class he said comparing the comedian to Trump Both of them are TV stars and both of them are selling people the dream so people are ready to accept this dream because they are fed up with the old class of politicians The Maidan protests in 2014 that ousted a Kremlin backed president brought hope of change but Poroshenko s critics say progress has not come fast enough in a country where corruption remains entrenched oligarchs amass wealth and influence and poverty levels are among the worst in Europe Zelenskiy s squeaky clean fictional president is a powerful image blurring the lines of where his character stops and the presidential hopeful begins Even his party is called Servant of the People after the TV series At Friday night s recording of the comedy talent show the audience many in their 20s and 30s laughed and cheered at references and winking allusions to his presidential bid Backstage he posed for selfies with some fans between skits A trailer for a new series of Servant of the People played before the show where the fictional president talks about his hopes He dreams of a day when Oleg Sentsov a Ukrainian film maker languishing in a Russian jail will release a new film War in the east will be over and Ukraine will host the Olympic Games in Crimea once it has been taken back from Russia I would just like to see him as the president Ukraine needs something new I am sick of all this said Volodymyr Bren who was in the audience at the comedy talent contest IMF DEALS With less than five weeks until the election several polls have put Zelenskiy in front of Poroshenko and Tymoshenko Support for Zelenskiy is particularly strong among 18 35 year olds who think he would be the best candidate to tackle corruption in state institutions according to a December survey on behalf of the International Republican Institute IRI His campaign has been propelled by his TV appeal and social media He has 2 7 million followers on Instagram while Poroshenko has 194 000 On Facebook NASDAQ FB Zelenskiy invites suggestions from followers on tackling problems such as high utility bills or their choice of prime minister Zelenskiy told Reuters he would not allow Ukraine to default on its debt commitments to the International Monetary Fund IMF which has propped up the economy with billions of dollars in loans and provides reassurance to investors He hopes the country will eventually stop relying on the IMF but for now he would not allow Ukraine to default and spoil the image of our country Tymoshenko and other opposition candidates have fiercely criticized Poroshenko after the government raised household heating tariffs as a condition for more IMF loans Asked for his position on heating costs Zelenskiy was short on specifics He said Ukraine s tariffs were the lowest in Europe but still too high for many TACKLING CORRUPTION Ironically given the clean image of his fictional president Zelenskiy has had to fend off suspicion that in real life he is a puppet of Ihor Kolomoisky a prominent oligarch whose TV channel airs Zelenskiy s shows Zelenskiy insists his relationship with Kolomoisky is strictly professional He said he would not as some fear hand back ownership of PrivatBank Ukraine s largest lender to Kolomoisky if he becomes president As part of an IMF backed clean up of Ukraine s financial system the government nationalized PrivatBank in 2016 and later alleged the lender was used for large scale fraud and money laundering Kolomoisky called the allegations nonsense and has said the bank was nationalized on spurious grounds Am I that crazy Do I want to lose my life reputation said Zelenskiy when asked whether he would hand PrivatBank back to Kolomoisky The businessman also denies having undue influence over Zelenskiy I m more his puppet than he is mine he told the Ukrainian news site lb ua To tackle corruption Zelenskiy said he would introduce a bill to strip the president lawmakers and judges of immunity from prosecution He also called for an independent anti corruption court that the president could not unduly influence with judges selected with the help of Western experts He said that would end a political culture where the president or someone else in authority simply picks up the phone and says It will be like this like this or like this Back in the world of make believe at the comedy talent show one contestant hands Zelenskiy a giant key The presidential hopeful says it is too big to fit into his pocket to cheers and applause from an audience that knows Ukrainian politicians often pocket large bribes
The contestant shouts Friends you have a unique chance to vote for a candidate with small pockets |
VZ | Sprint S Launches 5G In 4 More Cities To Extend Coverage | Sprint Corporation NYSE S which is a subsidiary of SoftBank Group Corp recently announced that it has launched True Mobile 5G service in areas of Los Angeles New York City Phoenix and Washington DC These cities are known to be the largest and most dense urban markets in the United States which requires substantial expertise and stringent testing to ensure quality performance and delivery With this move the company s next gen wireless service is presently live in parts of nine major markets In May the national wireless carrier launched 5G service in areas of Atlanta Dallas Fort Worth and Kansas City which was followed by Chicago in middle of July The company s 5G spans around 2 100 square miles with about 11 million people expected to be covered in entirety across all nine market areas in the coming days Reportedly this is more than any other U S carrier to date As the fourth largest wireless provider by subscriber count Sprint s True Mobile 5G will likely enable new experiences which include gaming entertainment services IoT and business applications for customers Markedly the company has achieved this feat in concert with its technology partner Nokia HE NOKIA Corp NYSE NOK At the base of Sprint 5G is Massive MIMO a breakthrough technology that significantly improves network capacity In the newly added cities Sprint is using 64T64R 64 transmitters 64 receivers 5G Massive MIMO radios from Nokia Interestingly these radios support a feature called split mode that allows Sprint to simultaneously deliver LTE Advanced and 5G New Radio NR service Sprint s 5G Massive MIMO radios run on its 2 5 GHz mid band spectrum and they are deployed on its existing 4G cell sites providing a nearly identical footprint for both 2 5 GHz LTE and 5G NR coverage Looking ahead the company believes that the completion of initial nine market launches is truly the beginning of what it can achieve post merger with T Mobile US Inc NYSE S Jointly they aim to build a nationwide mobile 5G network that benefits all U S enterprises and consumers Sprint has long term earnings growth expectation of 19 6 Driven by diligent execution of operational strategies the stock has rallied 15 2 compared with the s growth of 10 6 in the year to date period Sprint currently has a Zacks Rank 3 Hold A better ranked stock in the industry is Verizon Communications Inc NYSE VZ carrying a Zacks Rank 2 Buy You can see Verizon surpassed earnings estimates in each of the trailing four quarters the average positive surprise being 2 6 Looking for Stocks with Skyrocketing Upside Zacks has just released a Special Report on the booming investment opportunities of legal marijuana Ignited by new referendums and legislation this industry is expected to blast from an already robust 6 7 billion to 20 2 billion in 2021 Early investors stand to make a killing but you have to be ready to act and know just where to look |
VZ | Is Verizon Communications VZ Stock Outpacing Its Computer And Technology Peers This Year | Investors focused on the Computer and Technology space have likely heard of Verizon Communications VZ but is the stock performing well in comparison to the rest of its sector peers Let s take a closer look at the stock s year to date performance to find out
Verizon Communications is a member of the Computer and Technology sector This group includes 637 individual stocks and currently holds a Zacks Sector Rank of 7 The Zacks Sector Rank considers 16 different sector groups The average Zacks Rank of the individual stocks within the groups is measured and the sectors are listed from best to worst
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks This system has a long record of success and these stocks tend to be on track to beat the market over the next one to three months VZ is currently sporting a Zacks Rank of 2 Buy
Over the past three months the Zacks Consensus Estimate for VZ s full year earnings has moved 1 14 higher This means that analyst sentiment is stronger and the stock s earnings outlook is improving
Our latest available data shows that VZ has returned about 3 08 since the start of the calendar year Meanwhile the Computer and Technology sector has returned an average of 17 59 on a year to date basis This means that Verizon Communications is outperforming the sector as a whole this year
Looking more specifically VZ belongs to the Wireless National industry which includes 16 individual stocks and currently sits at 83 in the Zacks Industry Rank This group has gained an average of 15 06 so far this year so VZ is slightly underperforming its industry in this area
Investors with an interest in Computer and Technology stocks should continue to track VZ The stock will be looking to continue its solid performance |
VZ | Verizon redeeming 213M in 2019 debt | Verizon VZ 0 3 is redeeming all 213M of its 2 55 notes due 2019 it says The notes will be redeemed Nov 15 Redemption price will be the greater of 100 of principal or sum of present values of remaining payments The make whole premium is 15 basis points Now read |
VZ | Waive wireless bills for some Hurricane Michael victims U S FCC chief | By David Shepardson WASHINGTON Reuters U S Federal Communications Commission Chairman Ajit Pai on Tuesday called for wireless carriers to waive October bills for people hardest hit by Hurricane Michael after some Florida residents expressed frustration in getting mobile phone service restored Pai also said consumers in those areas should be allowed to switch carriers without paying a penalty Verizon Communications Inc NYSE VZ which has been criticized for the pace of its restoration efforts said late on Tuesday that all consumer and business customers in hard hit Bay County and Gulf County Florida would be automatically credited for three months of mobile service for each line they have At least 18 deaths in four states have been blamed on Michael which crashed into the Florida Panhandle on Oct 10 as one of the most powerful storms on record to hit the continental United States The storm damaged fiber networks and electrical wires necessary for broadband and mobile phone service Pai said in a written statement the progress in restoring service is completely unacceptable and that the FCC will investigate the outages The request from the chair of the nation s telecommunications regulator came after Florida Governor Rick Scott who is locked in a tough race for the U S Senate earlier on Tuesday called on carriers to waive bills for customers without service and allow consumers to change carriers without penalty Verizon has attributed the delay in part to significant damage to fiber connections in Florida s Panhandle and the strength of the storm On Tuesday the FCC said that 61 5 percent of cell sites remain out of service in Bay County down from 65 4 percent on Monday Scott said telecommunications companies should be open and transparent with Floridians and do so with a clearly communicated plan to quickly restore service U S Senator Bill Nelson a Florida Democrat running for re election against Scott earlier on Tuesday asked carriers to provide a 60 day moratorium on late fees interest accrual penalties and any other unnecessary costs to give people time to recover and get back on their feet In a letter to Verizon on Tuesday Nelson said too many of your Florida customers in the Panhandle are still not able to use your network This is not acceptable especially when your competitors have been restoring service much faster AT T Inc NYSE T spokesman Michael Balmoris said the company has implemented credits for customers in hard hit areas and plans to extend those credits through Oct 21 AT T plans to continue those as conditions require AT T has deployed 15 large scale portable cell sites to the most storm damaged areas |
WMB | Forex U S Dollar Falls Fed s Williams Backs Phillips Curve | Investing com The greenback fell Friday as New York Federal Reserve President John Williams NYSE WMB said that the correlation between employment and inflation is alive and kicking
The correlation known as the Phillips Curve has been in doubt lately due to no inflation despite the unemployment rate being near record low levels
In a speech on Friday Williams said that the Phillips Curve does still exist and the Fed should be vigilant about inflation and declining inflation expectations
The U S dollar index which measures the greenback s strength against a basket of six major currencies fell 0 16 to 96 31 as of 10 48 AM ET 15 48 GMT
The dollar was down against the safe haven yen with USD JPY falling 0 17 to 110 65 The yen is typically sought by investors as a safe haven during times of economic or market stress
Traders are also keeping an eye on trade developments which are going well but still lack clarity on key issues including intellectual property and technology transfers Reuters reported
U S President Donald Trump is expected to meet with Chinese Vice Premier Liu He at 2 30 PM ET 19 30 GMT
Elsewhere the euro rose due to the weaker dollar with EUR USD up 0 18 to 1 1352 The pound recovered slightly after falling earlier in the session amid news that a vote on a Brexit deal next week is unlikely GBP USD gained 0 1 to 1 3062
In Australia the AUD USD rose 0 68 to 0 7139 while NZD USD increased 0 6 to 0 6842 |
WMB | In hot job market Fed still frets about low inflation | By Trevor Hunnicutt and Ann Saphir NEW YORK SAN FRANCISCO Reuters Despite a U S unemployment rate that has plumbed its lowest levels in nearly 50 years Federal Reserve policymakers remain worried about excessively low inflation a view that helps explain the central bank s recent decision to put interest rate hikes on hold Traditionally economists have found that when labor markets run hot eventually inflation will as well A spate of new research from within and outside the Fed however has suggested that relationship may have weakened Speaking Friday at a University of Chicago Booth School of Business conference New York Federal Reserve Bank President John Williams NYSE WMB and San Francisco Fed President Mary Daly both said they still believe that tight labor markets do put upward pressure on inflation and that with unemployment at 4 percent the Fed must guard against prices surging But they said they are just as concerned about excessively low inflation Inflation has been below our target for a long time Daly said Complacency can go both ways and it s important to be vigilant on both sides of the target not just on the upside but also on the downside Williams cited his own analysis that showed low unemployment does in fact still exert upward pressure on prices and said he concurred that the Fed should be vigilant about a takeoff in inflation We must be equally vigilant that inflation expectations do not get anchored at too low a level he said The concern about excessively low inflation is remarkable given that the Fed was until recently raising interest rates to keep the economy from overheating as unemployment fell and businesses hired hundreds of thousands of new employees month after month But it is indicative of a Fed newly cautious about downside risks to the economy and increasingly convinced that globalization and new technologies have upended old inflation dynamics This new wariness is in part behind the Fed s January promise to be patient about further rate hikes putting a three year old process of policy tightening on hold Indeed Williams and Daly said Friday inflation expectations are key to keeping inflation on track and expectations are shaped in large part by experience That is why inflation s recent track record of riding well below the Fed s 2 percent target is concerning They made the remarks in response to a paper released on Friday that argued that the Fed should not ignore the possibility that low unemployment rates and rising wages could eventually spark higher inflation as it did in the 1960s The paper s authors including the global head of economic research at Deutsche Bank DE DBKGn AG s securities division Peter Hooper also warned that political pressures could make the Fed complacent about the danger of inflation U S President Donald Trump last year publicly chastised the Fed for raising rates and tightening monetary policy describing it as an obstacle to his administration s goal of boosting the economy A Fed economic report released Friday showed why concerns about weak inflation have suddenly taken such public root After raising rates amid faster than expected growth through 2018 the Fed said a series of developing risks likely began slowing the economy late in the year and into 2019
That included weakening consumer spending and business investment risks from a global slowdown and trade tensions deteriorated risk appetite among investors and even a nick to gross domestic product from the partial government shutdown |
WMB | Twitter co founder Evan Williams steps down from board | Reuters Twitter Inc NYSE TWTR said on Friday one of its co founders Evan Williams NYSE WMB will be stepping down as a member of its board at the end of the month Williams who also announced the move in a series of tweets is currently the chief executive officer of online publishing website Medium and had also served as the CEO of Twitter
I m very lucky to have served on the Twitter board for 12 years ever since there was a board It s been overwhelmingly interesting educational and at times challenging he tweeted |
WMB | Fed s policy pause sets stage for broad overhaul | By Trevor Hunnicutt and Ann Saphir NEW YORK SAN FRANCISCO Reuters When Federal Reserve policymakers last month put a three year rate hike campaign on hold and backed ending a yearlong push to shrink their 4 trillion balance sheet they cited increased risks to U S economic growth and the need for more time to sort through the data But whether by design or by happenstance their policy pause effectively cleans the central bank s slate ahead of what could be a massive overhaul of how they manage the U S economy including what tools it uses and how it communicates to the public Behind the Fed s decision to spend the next year rethinking how it should go about ensuring that prices remain stable and employment plentiful are some of the same structural economic changes that led the U S central bank to put its current policy on hold in the first place The connections between the Fed s new patient stance on policy its decision to leave its balance sheet bigger than it had previously anticipated and what looks set to be a tough debate over a possible new policy framework were on full display for the first time at a conference Friday on monetary policy in New York There the influential chief of the New York Fed John Williams NYSE WMB nodded to the U S economy s new normal where unemployment is plumbing its lowest levels in nearly 50 years but inflation is barely touching the Fed s 2 percent goal And though the Fed needs to guard against a surge in inflation Williams said we must be equally vigilant that inflation expectations do not get anchored at too low a level San Francisco Fed President Mary Daly also speaking at the conference concurred Inflation has been below our target for a long time Daly said Complacency can go both ways and it s important to be vigilant on both sides of the target not just on the upside but also on the downside One central question in the Fed s policy rethink is whether the Fed should react to periods of low inflation by allowing inflation to run hot for a time Fed Vice Chair Richard Clarida said in a speech Friday that outlined the scope of the Fed s broad review Such a strategy could mean the Fed seeks to maintain an average rate of 2 percent inflation over any given period rather than its current strategy of targeting its 2 percent level without regard to whether it has been able to meet that goal so far Though Clarida suggested the result of the policy review expected to be complete by the first half of 2020 it could be that the Fed sticks with its current policy We suspect the Fed wouldn t be asking this question if they didn t already have some sense that a different way forward may be warranted wrote JP Morgan s chief U S economist Michael Feroli in a note to clients Still it was clear from remarks by policymakers at the event that not all were convinced of the need to change the Fed s inflation targeting and the debate which kicks off officially with an event Monday in Dallas will be robust A Fed economic report released Friday showed why concerns about weak inflation have suddenly taken root After raising rates amid faster than expected growth through 2018 the Fed said a series of developing risks likely began slowing the economy late in the year and into 2019 That included weakening consumer spending and business investment risks from a global slowdown and trade tensions deteriorated risk appetite among investors and even a nick to gross domestic product from the partial government shutdown Just as Fed policymakers new wariness about slow growth and low inflation helped shape the Fed s January promise to be patient about further rate hikes it may also have played a role as Fed policymakers coalesce around a plan to stop trimming their balance sheet later this year Investors have in recent months complained that financial conditions are tightening because of the Fed s gradual reductions to its balance sheet swollen from trillions of dollars of bond buying in the post crisis years In remarks Friday Philadelphia Fed President Patrick Harker and Fed Governor Randal Quarles suggested they supported an end to the balance sheet reductions for technical reasons relating to the amount of liquidity that banks and the Fed itself needs to keep markets running smoothly St Louis Fed President James Bullard went so far as to suggest that the size of the balance sheet really has only minor impact on the economy now that interest rates are well above zero
But earlier this month remarks from San Francisco Fed s Daly and Fed Governor Lael Brainard showed that at least a few policymakers want the balance sheet trimming to stop as part of an overall desire to stop tightening monetary policy |
WMB | NBA roundup George Thunder beat Jazz in 2 OTs | Paul George scored 45 points including a floater with less than a second left in the second overtime to lift the Oklahoma City Thunder to a 148 147 win over the visiting Utah Jazz on Friday night The Jazz led by one when George grabbed a rebound off a missed shot by Utah s Joe Ingles with 10 seconds left George kept the ball until he drove into the lane before releasing the high floater that went cleanly through the net Russell Westbrook s NBA record streak of 11 consecutive triple doubles came to an end when he was called for his sixth foul on a charge with 1 09 remaining in the first extra session Westbrook finished with 43 points 15 rebounds and eight assists He hit a season high six 3 pointers Donovan Mitchell led Utah with 38 points going 14 of 35 from the field Raptors 120 Spurs 117 Kawhi Leonard had 25 points and scored the go ahead dunk after a steal with 15 1 seconds remaining as host Toronto defeated his former team San Antonio Former Raptors guard DeMar DeRozan had 23 points and eight assists in his first game in Toronto since his offseason trade to the Spurs Marco Belinelli added 21 points on five 3 pointers for San Antonio Pascal Siakam added 22 points and six assists for the Raptors and Serge Ibaka contributed 13 points and 15 rebounds Nuggets 114 Mavericks 104 Visiting Denver shook off some rust before drilling Dallas with a third quarter barrage en route to a victory The Nuggets trailed for much of the first half against the Mavericks who played without Luka Doncic The rookie sensation is day to day due to a sore right knee Nikola Jokic posted a team high 19 points along with 13 rebounds and eight assists for Denver and Paul Millsap had 17 points and 13 rebounds Dallas rookie Jalen Brunson starting for Doncic finished with a game high and career best 22 points Bulls 110 Magic 109 Lauri Markkanen hit two free throws with 1 5 seconds remaining to give Chicago a road victory that snapped Orlando s five game winning streak The Bulls were down by one when Markkanen was fouled on a 3 point attempt After missing the first attempt Markkanen sank the next two free throws to put the Bulls ahead and the Magic could not get a shot off before the buzzer at the other end Markkanen led Chicago with 25 points and 11 rebounds and Zach LaVine had 22 points and six assists Evan Fournier had 22 points and Nikola Vucevic added 19 points 13 rebounds and seven assists for Orlando Pistons 125 Hawks 122 Thon Maker drilled a tiebreaking 3 pointer with 17 1 seconds remaining and visiting Detroit held on to beat Atlanta Maker took a pass from Reggie Jackson and calmly made the trey his third of the night giving him nine points for the game Jackson had 32 points five rebounds and eight assists as the Pistons won for the fifth time in six games Atlanta which has lost five of its past six got 30 points and 10 assists from Trae Young Pacers 126 Pelicans 111 Tyreke Evans gave Indiana the lead for good with a 3 pointer late in the third quarter and the Pacers scored the first eight points of the final period to begin to pull away from New Orleans in Indianapolis In winning for the seventh time in their past eight games the Pacers led for a total of just 14 seconds before Evans hit his tiebreaking 3 pointer with three seconds remaining in the third period for a 97 94 lead Wesley Matthews hit six 3 pointers to account for a majority of his team high 24 points for Indiana Embattled big man Anthony Davis had 15 points and eight rebounds for the Pelicans but was limited to just 20 minutes Timberwolves 115 Knicks 104 Reserve Derrick Rose scored 20 points as Minnesota overcame the absence of All Star center Karl Anthony Towns to earn a victory over New York which had its team record home losing streak reach 18 games Towns was placed in the NBA s concussion protocol before the game and missed the first game of his four year career He was involved in a traffic accident in the Minneapolis area Thursday when he was headed to the airport Taj Gibson started for Towns and added 19 points and 10 rebounds for Minnesota The Knicks tied the 2013 14 Philadelphia 76ers for the second longest home skid in NBA history New York which got 20 points apiece from Allonzo Trier and Damyean Dotson lost for the 19th time in its past 20 games overall Hornets 123 Wizards 110 Kemba Walker had 27 points 11 assists and five rebounds and Charlotte snapped a two game losing streak with a victory over Bradley Beal and visiting Washington The Hornets trailed by as many as 12 in the first quarter but they regrouped to lead at halftime and then pushed the lead up to 16 in the third quarter Beal put on a shooting display and finished with 46 points five shy of his career high He was 16 of 25 from the field with four 3 pointers The Hornets shuffled their lineup for the first time all season with forward Miles Bridges getting his first career start guard Jeremy Lamb going to the bench and Nicolas Batum moving from forward to guard The move worked as Batum scored 20 Lamb 16 and Bridges 14 Clippers 112 Grizzlies 106 Reserve forward Montrezl Harrell scored 19 of his 30 points in the first half and Danilo Gallinari added 23 as visiting Los Angeles built a big early lead then held on to beat Memphis Lou Williams NYSE WMB scored 18 points off the bench for the Clippers who won for the fourth time in their past six games with five of those contests on the road
Mike Conley scored 25 points and handed out 10 assists and Joakim Noah added a season high 22 points plus 11 rebounds for Memphis Field Level Media |
WMB | Top 25 roundup No 14 Texas Tech routs No 12 Kansas | Jarrett Culver scored 26 points Saturday as No 14 Texas Tech glided to a 25 point halftime margin and crushed No 12 Kansas 91 62 at Lubbock Texas The Red Raiders 22 5 10 4 remained one game behind Kansas State in the Big 12 race after six players netted multiple 3 pointers as part of a 16 for 26 onslaught from deep The sharpshooting coupled with a stingy defense that ranks among the nation s best helped Texas Tech claim its fifth straight victory the longest streak in the Big 12 It avenged a 79 63 loss at Kansas on Feb 2 Chances for a 15th consecutive Big 12 crown for the Jayhawks 20 7 9 5 absorbed a blow as they fell two games behind in the conference race The defeat was the worst in Big 12 play for Kansas under 16th year coach Bill Self topping a 25 point loss to Texas in 2006 No 1 Duke 75 Syracuse 65 RJ Barrett scored 30 points and Alex O Connell had a big second half as the Blue Devils defeated the Orange without standout freshman Zion Williamson at Syracuse N Y Barrett shot 14 of 20 from the field for Duke 24 3 12 2 Atlantic Coast Conference O Connell posted 20 points aided by four 3 point baskets in the second half O Connell was in the starting lineup in place of Williamson who was ruled out after suffering a sprained knee in the opening minute of Wednesday night s home loss to No 8 North Carolina The game came three nights after Syracuse coach Jim Boeheim was behind the wheel in a late night accident that resulted in the death of a pedestrian on a Syracuse highway With the support of the school s administration Boeheim was on the sideline for the Orange 18 9 9 5 No 2 Gonzaga 102 BYU 68 Zach Norvell Jr scored a game high 25 points as the Bulldogs pulled away from the Cougars at Spokane Wash Rui Hachimura s 23 points and 10 rebounds plus Josh Perkins 21 points and seven assists gave the Zags 27 2 14 0 West Coast Conference three players with at least 20 points Brandon Clarke tacked on an 11 point 10 rebound double double Yoeli Childs and TJ Haws each scored 18 points to pace the Cougars 18 12 10 5 BYU s frustration showed in the second half as the bench and coach Dave Rose each drew technicals from the officials No 3 Virginia 64 No 18 Louisville 52 The Cavaliers erased a 10 point halftime deficit to knock off the Cardinals at Louisville Ky De Andre Hunter scored a career high 26 points with 19 of those coming in the second half as the Cavaliers shot 46 4 percent in the win Louisville 18 10 9 6 ACC scored just 15 second half points and shot 20 percent during the final 20 minutes as they were outscored by 22 Each team held a 12 point lead in the game as Virginia 24 2 12 2 ended the game by holding the Cardinals to 1 for 12 shooting down the stretch No 4 Kentucky 80 Auburn 53 PJ Washington scored 24 points and the Wildcats defense stifled the Tigers at Lexington Ky Tyler Herro added 17 points and Ashton Hagans had 14 for Kentucky 23 4 12 2 Southeastern Conference Chuma Okeke scored 14 Jared Harper added 12 and Anfernee McLemore had 10 to lead Auburn 18 9 7 7 which scored just 22 points in the second half No 13 LSU 82 No 5 Tennessee 80 OT Ja vonte Smart scored a season high 29 points including two free throws with one second remaining in overtime as the Tigers defeated the Volunteers at Baton Rouge La Smart had the most impressive game of his freshman season as the Tigers 22 5 12 2 SEC overcame the absence of guard Tremont Waters their leading scorer and playmaker who was ill to tie Tennessee 24 3 12 2 for the SEC lead Kavell Bigby Williams tied the score with a layup with five seconds remaining in overtime Lamonte Turner missed a 3 pointer Smart rebounded and Grant Williams NYSE WMB fouled Smart in the backcourt setting up the winning free throws No 6 Nevada 74 Fresno State 68 Caleb Martin s tiebreaking 3 pointer with 3 58 left keyed an 8 0 run by the Wolf Pack on their way to a win over the Bulldogs at Reno Nev Martin s 24 points led four Wolf Pack players in double figures Jordan Caroline added 17 while Tre Shawn Thurman hit for 14 points including an emphatic dunk with 45 6 seconds left that gave Nevada 25 2 12 2 Mountain West Conference a 70 65 lead Jazz Johnson scored 10 Deshon Taylor pumped in a game high 30 points for the Bulldogs 19 8 10 5 who saw their hopes of winning the conference s regular season title take a fatal blow Nate Grimes came off the bench to score 16 but it wasn t enough to assure victory in a rough game No 8 North Carolina 77 No 16 Florida State 59 Cameron Johnson and Nassir Little each scored 18 points as the Tar Heels pulled away to snap the Seminoles eight game winning streak at Chapel Hill N C Luke Maye added 15 points and Coby White had 10 points for North Carolina 22 5 12 2 Atlantic Coast Conference which was fresh off toppling top ranked Duke on Wednesday night Florida State 21 6 9 5 had the longest ACC winning streak in its history but was unable to reach six conference road victories something it hasn t accomplished since the 1991 92 season No 9 Houston 71 South Florida 59 DeJon Jarreau scored 17 points off the bench Corey Davis Jr chipped in 15 and the Cougars extended their home court winning streak to 33 consecutive games with a wire to wire victory over the Bulls Houston 26 1 13 1 American Athletic Conference extended its overall winning streak to 11 games by combining a balanced offensive attack with another suffocating defensive effort All 10 players who participated scored for the Cougars who jumped out to an 11 0 lead en route to saddling the cold shooting Bulls 18 9 7 7 with their third consecutive conference loss USF shot 31 3 percent from the floor and endured an eight minute stretch in the second half without a field goal No 11 Marquette 76 Providence 58 Sam Hauser recorded 18 points and 13 rebounds to help the Golden Eagles cruise past the Friars at Providence R I Sacar Anim also scored 18 points and Joey Hauser added 15 points and seven rebounds as the Golden Eagles 23 4 12 2 stretched their Big East lead to one game over idle Villanova Alpha Diallo scored 19 points for the Friars 15 13 5 10 A J Reeves added 13 points and Nate Watson had 10 for Providence which fell for the sixth time in the past eight games No 15 Purdue 75 Nebraska 72 Matt Haarms scored 17 points grabbed nine rebounds and blocked four shots to lead the Boilermakers to a hard fought win over the Cornhuskers at Lincoln Neb Glynn Watson Jr led Nebraska 15 13 5 12 Big Ten with 25 points With Purdue 20 7 13 3 clinging to a 62 61 lead Grady Eifert s acrobatic tip in with one second left on the shot clock put the Boilermakers up 64 61 with 1 57 left and seemed to deflate the Cornhuskers Eifert made a pair of free throws and Haarms followed with two more to give the Boilermakers a 68 61 lead with 49 seconds left TCU 75 No 19 Iowa State 72 Kouat Noi scored 20 points and took 13 rebounds and Alex Robinson hit for 12 points and distributed 10 assists as the Horned Frogs outlasted the Cyclones at Fort Worth Texas The win TCU s second over the Cyclones in the past two weeks snapped a three game losing streak for the Horned Frogs 18 9 6 8 Big 12 Michael Jacobson paced Iowa State 19 8 8 6 with 17 points while Lindell Wigginton scored 15 Talen Horton Tucker had 14 points and Cameron Lard hit for 10 in the loss The Cyclones have lost three of their past four games No 20 Virginia Tech 67 Notre Dame 59 Kerry Blackshear Jr s 22 points and 14 rebounds carried the Hokies to victory over the Fighting Irish at South Bend Ind The Hokies 21 6 10 5 ACC shot only 36 5 percent from the floor and 27 8 percent 5 of 18 on 3 pointers and survived 16 turnovers largely because the Irish shot only 32 8 percent from the floor and 23 1 percent 6 of 26 from behind the arc Virginia Tech was coming off a narrow loss to No 3 Virginia on Monday and has won three of its last four games Notre Dame 13 14 3 11 lost its third straight and its ninth in 11 games No 22 Wisconsin 69 Northwestern 64 Brad Davison scored 16 points Ethan Happ posted a double double with 14 points and 10 rebounds and the Badgers escaped with a win over the Wildcats at Evanston Ill D Mitrik Trice added 14 points for Wisconsin 19 8 11 5 Big Ten which secured a winning record in conference play The Badgers have won back to back games Vic Law scored a game high 24 points for Northwestern 12 15 3 13 which dropped its eighth consecutive game Dererk Pardon added 21 points on 9 for 12 shooting No 23 Kansas State 85 Oklahoma State 46 The Wildcats raced out to a big lead early and never let up crushing the Cowboys at Manhattan Kan Kansas State 21 6 11 3 Big 12 now owns a one game lead over Texas Tech and a two game lead over rival Kansas and Baylor atop the Big 12 standings The Wildcats travel to Kansas on Monday night The Wildcats shot 61 5 percent from the field including 50 percent from 3 point range They held Oklahoma State 10 17 3 11 to just 31 4 percent No 24 Maryland 72 Ohio State 62 Anthony Cowan Jr scored 19 points as the Terrapins defeated the Buckeyes at College Park Md Serrel Smith Jr added a career high 14 points off the bench for the Terrapins 21 7 12 5 Big Ten who improved to 7 1 in conference home games
Duane Washington Jr scored 15 points off the bench for Ohio State 17 10 7 9 which had won four of six entering the day but were without senior guard C J Jackson The Buckeyes second leading scorer at 12 5 points per game sat out with a shoulder injury and was listed as day to day Field Level Media |
WMB | From Russia to Wall Street | Simon Mikhailovich s experience leaving the former Soviet Union at age 19 started an incredibly interesting career path including working in insurance collateralized debt and ultimately gold His conversation with Real Vision s Grant Williams NYSE WMB relates how his life experience informed the course of his career in finance This clip is excerpted from a video published on Real Vision on May 11 2018 |
WMB | The Anatomy of Bubbles | Grant Williams NYSE WMB Simon Mikhailovich and Dan Oliver embark on a three part Exchange that dissects the recurring theme of capital misallocation the financialization of economies and their social and political consequences In this first part they look at the anatomy of bubbles and highlight historical parallels going back thousands of years The implications are all too familiar and suggest a dramatic outcome for the level of gold This video was published on Real Vision on May 8 2018 |
VZ | All You Need To Know About Verizon VZ Rating Upgrade To Buy | Verizon Communications VZ appears an attractive pick as it has been recently upgraded to a Zacks Rank 2 Buy This rating change essentially reflects an upward trend in earnings estimates one of the most powerful forces impacting stock prices
The sole determinant of the Zacks rating is a company s changing earnings picture The Zacks Consensus Estimate the consensus of EPS estimates from the sell side analysts covering the stock for the current and following years is tracked by the system
Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts since these are mostly driven by subjective factors that are hard to see and measure in real time In these situations the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near term stock price movements
As such the Zacks rating upgrade for Verizon is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price
Most Powerful Force Impacting Stock Prices
The change in a company s future earnings potential as reflected in earnings estimate revisions has proven to be strongly correlated with the near term price movement of its stock The influence of institutional investors has a partial contribution to this relationship as these big professionals use earnings and earnings estimates to calculate the fair value of a company s shares An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock and institutional investors typically buy or sell it Their bulk investment action then leads to price movement for the stock
Fundamentally speaking rising earnings estimates and the consequent rating upgrade for Verizon imply an improvement in the company s underlying business Investors should show their appreciation for this improving business trend by pushing the stock higher
Harnessing the Power of Earnings Estimate Revisions
As empirical research shows a strong correlation between trends in earnings estimate revisions and near term stock movements tracking such revisions for making an investment decision could be truly rewarding Here is where the tried and tested Zacks Rank stock rating system plays an important role as it effectively harnesses the power of earnings estimate revisions
The Zacks Rank stock rating system which uses four factors related to earnings estimates to classify stocks into five groups ranging from Zacks Rank 1 Strong Buy to Zacks Rank 5 Strong Sell has an impressive externally audited track record with Zacks Rank 1 stocks generating an average annual return of 25 since 1988 You can see the complete list of today s Zacks 1 Rank Strong Buy stocks here
Earnings Estimate Revisions for Verizon
For the fiscal year ending December 2019 this largest U S cellphone carrier is expected to earn 4 80 per share which is a change of 1 9 from the year ago reported number
Analysts have been steadily raising their estimates for Verizon Over the past three months the Zacks Consensus Estimate for the company has increased 1 1
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations the Zacks rating system maintains an equal proportion of buy and sell ratings for its entire universe of more than 4000 stocks at any point in time Irrespective of market conditions only the top 5 of the Zacks covered stocks get a Strong Buy rating and the next 15 get a Buy rating So the placement of a stock in the top 20 of the Zacks covered stocks indicates its superior earnings estimate revision feature making it a solid candidate for producing market beating returns in the near term
You can learn more about the Zacks Rank here
The upgrade of Verizon to a Zacks Rank 2 positions it in the top 20 of the Zacks covered stocks in terms of estimate revisions implying that the stock might move higher in the near term |
VZ | Verizon offers separation plans to thousands of management employees | Reuters Verizon Communications Inc N VZ said on Tuesday it is offering voluntary separation buyout packages to thousands of management employees in the United States It is a voluntary plan and offers employees three weeks pay for every year of service Verizon spokesman Jim Gerace said without providing details on the number of employees who would be offered the plan The move comes as the No 1 U S wireless provider is trying to slash expenses and save 10 billion in costs by 2020
Verizon had about 153 100 employees as of June |
VZ | America to buzz as phones get presidential alert test Wednesday | By David Shepardson WASHINGTON Reuters The Trump administration will send messages to more than 200 million U S cellphones on Wednesday testing a previously unused presidential alert system that aims to warn the public in the event of a national emergency The test message was originally scheduled for September but was pushed back to Wednesday at 2 18 p m EDT The Federal Emergency Management Agency FEMA which will send the alert said the messages would bear the headline Presidential Alert and that phones will make a loud tone and have a special vibration The test has been scheduled to ensure that the alert system would work in the event of a national emergency The message will read THIS IS A TEST of the National Wireless Emergency Alert System No action is needed A separate alert on TV and radios will be issued at 2 20 p m The tests have drawn a lot of attention on social media in part because of President Donald Trump s propensity for sending tweets to his 55 million followers On a conference call government officials told reporters that Trump would not personally trigger the alert from his phone or any other device and emphasized that no president could wake up one morning and attempt to send a personal message The test alert will be sent by a device similar to a laptop from a FEMA laboratory An actual alert would be used for an impending missile attack or other national emergency Then President Barack Obama signed a law in 2016 requiring FEMA to create a system allowing the president to send cellphone alerts regarding public safety emergencies Federal Communications Commissioner Mike O Rielly told reporters on Tuesday that an April 5 regional test of the emergency alert system in the Washington area showed some potential issues He said some people did not receive alerts on some devices during that test We re trying to analyze that O Rielly said The country s wireless emergency alert system has issued over 36 000 alerts for situations such as missing children extreme weather and natural disasters since 2012 but never a presidential directive Cellphone users can opt out of natural disaster or missing children alerts but not presidential alerts Verizon Communications Inc N VZ said nearly all of its mobile phone handsets are capable of getting alerts
Government officials estimated that the alert would reach upwards of 225 million U S cellphones or around 75 percent of all phones They said a person on a call lasting 30 minutes may not get the alert as with phones with an active data connection |
VZ | Super Micro shares fall after Bloomberg report on manipulated server | NEW YORK Reuters Super Micro Computer Inc shares fell 16 percent on Tuesday after Bloomberg News reported that a major U S telecommunications firm had uncovered a malicious implant on a Super Micro server The report follows a Bloomberg Businessweek article last Thursday that Super Micro systems had been infiltrated by malicious computer chips inserted by Chinese intelligence agents sending its shares down 38 percent Super Micro a maker of computer servers denied the claims in both articles Super Micro shares were down 2 31 to 12 44 in midafternoon Pink Sheet trade On Tuesday Bloomberg cited security consultant Yossi Appleboum as saying that he found the malicious hardware in August while inspecting unusual communications from a server at the telecommunications firm The story did not identify the telecom company Super Micro said on Tuesday that it did not know of any cases like the one described by Bloomberg We have seen no evidence of any unauthorized components in our products no government agency has informed us that they have found unauthorized components on our boards and no customer has reported finding any such unauthorized components the statement said Security experts and U S and UK authorities said they had no knowledge of the attacks described in last Thursday s article which cited 17 unnamed sources They also expressed surprise at the discrepancy between the claims in the Bloomberg Businessweek article and the strongly worded denials by Super Micro and other companies named in the piece Representatives with AT T Inc NYSE T and Sprint Corp said on Tuesday that they did not use Super Micro servers T Mobile US Inc and Verizon Communications Inc NYSE VZ said they were not affected by an attack like the one described by Bloomberg Appleboum who is chief executive of cyber security firm Sepio Systems told Reuters that he had uncovered malicious hardware on Super Micro servers at more than one U S telecommunications firm He declined to identify the telecom companies or say how the malicious hardware had been inserted on the servers This version of the story corrects to Bloomberg Businessweek in paragraphs 2 and 8 |
WMB | No host No problem Queen Lady Gaga bring Grammys vibe to Oscars | By Jill Serjeant LOS ANGELES Reuters There will not be a host and Sunday s Oscars ceremony will not open with the traditional monologue in which celebrities and politicians are skewered Yet with rock band Queen pop superstar Lady Gaga and two musicals in the race for best picture the highest honors in the movie industry will have an unusually strong music vibe as the Oscars seek to regain television audiences British band Queen featuring Adam Lambert as lead vocalist will open the Feb 24 show with a live performance celebrating the box office success of best picture nominee Bohemian Rhapsody a representative of the band told Reuters Bette Midler Jennifer Hudson Jennifer Lopez and record producer Pharrell Williams NYSE WMB are also set to attend or present along with James Bond actor Daniel Craig tennis champion Serena Williams Black Panther star Chadwick Boseman and comedians Tina Fey and Amy Poehler Details have been scant about the first Academy Awards ceremony in 30 years to go ahead without a host bringing a curiosity factor to the last and biggest awards show of the season Comedian Kevin Hart withdrew from the host job in December after past homophobic tweets resurfaced Hollywood is all about suspense said Tom O Neil founder of awards website Goldderby com One thing is certain it will not be shorter A pledge to broadcaster ABC to keep the show to three hours was wrecked last week when the Academy of Motion Picture Arts and Sciences bowed to protests and scrapped plans to hand out four of the 24 Oscars during commercial breaks In 1989 the last time there was no host the telecast opened with an 11 minute song and dance number featuring Rob Lowe and an actress dressed as Snow White that was widely derided Under pressure to deliver a compelling show for viewers after last year s TV audience hit an all time low producers have made the most of the best original song contenders Lady Gaga and actor director Bradley Cooper will perform a live duet of her hit song Shallow from their best picture contender A Star is Born while Jennifer Hudson has been tapped to sing Fight from documentary RBG Midler will do the honors for the Mary Poppins Returns song The Place Where Lost Things Go and country duo Gillian Welch and David Rawlings will perform When a Cowboy Trades His Spurs for Wings That is one of the places where the star wattage can make a difference said Alison Willmore critic and culture writer at BuzzFeed News Lady Gaga is a music superstar and I would imagine her hard core fans will be tuning in for her Willmore added Organizers have not said whether rapper Kendrick Lamar will perform his Oscar nominated song All the Stars from superhero movie Black Panther The academy on Wednesday said that Serena Williams talk show host Trevor Noah and Congressman John Lewis would appear to talk about what the best picture nominees mean to them Spanish American chef Jose Andres musician Tom Morello and Barbra Streisand will also be among those introducing the nominees Sunday s show is also expected to dispense with the segments between award handouts that in recent years have focused on pizza deliveries or surprising people on bus tours
I m not going to miss a lot of those little bits That often feels like the part that makes the ceremony long so maybe without a host it won t feel like it s dragging said BuzzFeed s Willmore |
WMB | Fed Superstars Lay Out a Map for the Central Bank s Big Rethink | Bloomberg Federal Reserve officials will face the next recession with limited ammunition Their ongoing search for backup firepower could shape the future of American central banking
After years of careful hiking officials have raised the fed funds rate to a 2 25 percent to 2 5 percent range Even if policy makers manage to lift it a few more times before the next recession they ll have less room to cut borrowing costs to stimulate growth and stabilize inflation than in the past This reality is probably the new normal studies suggest thanks to demographics and other long running trends
Against that backdrop officials plan to spend 2019 vetting their monetary policy approach which will likely include figuring out what strategies work best in a low rate world Research from the profession s top brass hints at what might be on the agenda
The Fed could weigh a new inflation framework or debate tried and true policy weapons like quantitative easing based on policy maker speeches and system research They might even consider adding options recently used in other economies but untested stateside like yield curve control a topic Vice Chairman Richard Clarida was advising graduate students on just last year
Below you ll find a run down of potential policy reinforcements and what relevant studies tell us about their efficacy
Temporary Price Level Targeting
Before delving into solutions it s worth reviewing why low rates can cause a snowballing problem for the Fed
When the policy rate falls to zero the Fed has less power to coax the economy back from the brink A long period of below capacity growth can lead to weak inflation which can eventually lower business and consumer expectations of future price increases Expectations are a big determinant of future inflation so the dimming outlook can mire price gains below the Fed s 2 percent target even once the economy has recovered To complete the perverse circle tepid inflation means the fed funds rate has less room to rise before it restricts growth leaving the Fed with even less ammunition to fight the next crisis
Bad news right Fortunately Ben Bernanke has a fix The former Fed Chair suggested in a 2017 paper that a temporary price level target might help
The Fed currently targets 2 percent inflation with a bygones approach officials don t care how much they ve previously missed or overshot their goal They just want to hit 2 percent now Under a price level target that would change The Fed would try to keep the level of prices going up steadily over time so a period of too low prices would require an offsetting period of too high prices In effect that would call for leaving the policy rate lower for longer than a more traditional monetary policy rule might dictate
People would believe that the Fed was willing to leave rates on hold the idea goes so growth and inflation wouldn t drop as much and voil Crisis averted
Bernanke suggested using the system only when rates were at zero hence the temporary That way the Fed wouldn t be forced to tighten policy in good times to reverse elevated inflation caused by transitory factors like a bump in gas prices
Price level targeting does lead to better outcomes than the current symmetrical inflation target Bernanke and two top Fed economists Michael Kiley and John Roberts found in a recent paper The policies perform best in simulations when the look back period the period of time over which you want to hit 2 percent on average is short say one year But their cousin shadow rate rules perform even more impressively
Shadow Rates
They may sound like the film noir version of central banking but shadow rate policies are pretty straightforward Officials keep track of how much extra accommodation they would have provided if they could ve only cut rates below zero then keep rates on hold for longer make up for that missed easing
Now New York Fed President John Williams NYSE WMB co authored a version back in 2000 that performs well in Bernanke s paper but a newer version by Kiley and Roberts can do better at keeping inflation stable at 2 percent and reducing growth shortfalls
Bernanke and crew make it clear that their paper is not the final word What they feed into the model plays a big role in determining the results and goals may differ Plus simpler policies might be easier to explain to the general public and better communication leads to better outcomes
Average Inflation Targeting
If easy to convey is key average inflation targeting is an attractive alternative It s price level targeting s less dramatic baby sister instead of shooting for an average level it calls for an average inflation rate over the economic cycle
Williams and San Francisco Fed s Thomas Mertens find that allowing the inflation rate to overshoot 2 percent when policy rates are above zero would help to keep inflation expectations anchored according to a January paper
Quantitative Easing
The preceding approaches are variations on the same theme they leave the fed funds rate lower for longer after a severe recession But Fed officials are also thinking about what s in their crisis toolkit beyond rate cuts
The obvious candidate is quantitative easing which policy makers turned to three times in the aftermath of the last recession Fed Chair Jerome Powell and his colleagues have made it very clear that bond buying is still in the Fed s crisis toolkit
Still there are questions Should bond buying start only when there are no other options or does it make sense to use it earlier in a downturn Kiley finds in a 2018 paper that buying bonds helps most when the strategy is is deployed promptly when output falls below potential but also writes that it s fine if the policy is secondary rolled out only after the fed funds rate has fallen to zero
You could imagine executing policy with your interest rate as your primary tool and the balance sheet as a secondary tool but one that you would use more readily San Francisco Fed chief Mary Daly told reporters on Feb 8 That s not decided yet but it s part of what we re discussing now
Negative Rates
Big bond purchases aren t the only non traditional option available to the Fed Technically the central bank could also try cutting rates into negative territory Other central banks have done so but by the time Europe tried out the policy in 2014 America s expansion was well underway
A few big risks could dissuade the U S central bank from pursuing that route Crucially the jury is out on how well negative rates have worked abroad a recent paper by Brown University s Gauti Eggertsson actually suggests they can become counterproductive by reducing bank profits That said a paper this year by San Francisco Fed s Vasco C rdia makes the case that negative rates could have made America s last recession less severe while speeding up the recovery so it s possible that the topic is still on the table for debate
Yield Curve Control
Another option the Fed could take for an intellectual whirl Yield curve control a policy the Bank of Japan has embraced Under such a policy a central bank can control short term and long term interest rates through market operations
The Fed has actually tried out yield curve control before including during World War II At the time the Treasury and Federal Reserve Board used a framework that set caps on long term and short term bond yields to stabilize bond markets and curb war financing costs
Masayoshi Amamiya Bank of Japan deputy governor argued in 2017 that the newer version differs from that earlier episode since it s deployed as a novel deflation fighting tool and not a route toward government cost reduction And a Columbia University capstone project published last year advised by now Fed Vice Chair Clarida argued that a modern Fed sponsored program could provide stimulus even when the fed funds rate had reached zero by reducing the level and volatility of rates though it would risk growing the Fed s balance sheet and could be hard to communicate and implement
The main appeal of a Fed sponsored program lies in its ability to complement quantitative easing the authors concluded |
WMB | Report NFL reinstates former Bills RB Williams | The NFL conditionally reinstated former Buffalo Bills running back Karlos Williams NYSE WMB after a lengthy suspension for substance abuse according to multiple reports Williams 25 hasn t played in the league since his rookie season in 2015 The fifth round draft pick from Florida State showed promise when he appeared in 11 games for Buffalo rushing for 517 yards and seven touchdowns and adding 11 catches for 96 yards and two scores After the Bills cut him during training camp the following year Williams signed with the Steelers practice squad but never got on the field due to multiple substance abuse violations He received a four game suspension in July 2016 a 10 game ban in November 2016 and a minimum one year suspension in June 2017
A conditional reinstatement means Williams is free to sign with a team and play next season as long as he meets certain treatment conditions Field Level Media |
WMB | Motor racing Hulkenberg ends first test on a high for Renault | By Alan Baldwin BARCELONA Reuters Nico Hulkenberg ended Formula One s first pre season test in Spain on a high for Renault PA RENA on Thursday with the fastest lap so far by any of the new crop of cars The 31 year old German who holds the unwanted record of most races 156 without once stepping on the podium lapped the Circuit de Catalunya in one minute 17 393 seconds in the late afternoon and on the softest tyre His car then stopped on the track however Toro Rosso s Thai rookie Alexander Albon had led the lunchtime timesheets with a lap of 1 17 637 while champions Mercedes unlocked a little more pace and went faster than Ferrari NYSE RACE The relative pace of the two frontrunning teams from 2018 remained unclear with Mercedes Valtteri Bottas suggesting the Italians were a step ahead while Ferrari s Charles Leclerc accused the champions of sandbagging British born Albon one of three Formula Two graduates making their F1 race debuts when the season starts in Australia on March 17 completed a whopping 136 laps on top of 132 on Tuesday That seemed a good indication that the new Honda engine now also used by Red Bull had made good gains in both performance and reliability after the problems of recent years Albon s Russian team mate Daniil Kvyat had been fastest overall on Wednesday while Red Bull s Pierre Gasly covered the second most ground with 148 laps Renault who had said before testing that their engine had made a big step up over the winter also showed good pace and Australian Daniel Ricciardo was second fastest on the morning timesheets They did less mileage than others however on Thursday Five times world champion Lewis Hamilton was fifth just behind Bottas who set his best lap on the softest and fastest tyres but did his stint in the colder morning temperatures In general the car was feeling better today and is coming together However we still have to keep on digging deep analyzing the data and the changes that we are making commented Hamilton The reliability has been really solid which is a great showing of all the hard work that everyone in the factory has done Ferrari s Leclerc was sixth on harder tyres than any of those above him Alfa Romeo s Italian Antonio Giovinazzi did the most laps of all on Thursday 154 but also twice brought out the red flags while British rookie George Russell managed the fewest 17 in the Williams NYSE WMB
Poland s Robert Kubica was also on track for Williams who only started testing on Wednesday afternoon and did 48 laps He was still 10th and slowest more than a second and a half off Canadian Lance Stroll for Racing Point |
WMB | No deal Brexit would take a chip off UK home values Reuters poll | By Jonathan Cable LONDON Reuters Britain s overvalued housing market will undergo a modest correction if the country leaves the European Union at the end of next month without a deal a Reuters poll found with London being affected to a greater degree Negotiators are still scrambling to reach agreement and if they fail then home prices in the capital which has long been a magnet for foreign investors will fall 3 percent in the six months after the March 29 split Nationally prices will drop 1 percent the Feb 13 20 poll found There will be a palpable shock to the UK economy in terms of GDP inflation job creation etc said Tony Williams NYSE WMB at property consultancy Building Value He says prices in the capital would fall 10 percent if there were no deal the most pessimistic forecast This will spill over dramatically to the residential market with London bearing the brunt given the international catchment of prospective buyers Graphic Reuters Poll Post Brexit UK house prices outlook Since the June 2016 referendum decision to leave the EU Reuters polls have consistently said a no deal scenario would knock the economy equities housing market and sterling ECILT GB However a dip in the currency a recent Reuters poll said sterling would fall 5 10 percent if there was no agreement would make property cheaper for foreign investors likely offsetting some of the uncertainty GBP POLL If an agreement is reached and most economists think it will be house prices will rise 1 5 percent nationally and 0 5 in London in the six months after The wider poll of 25 market watchers said national home prices would rise 1 5 percent this year and 1 8 percent in 2020 both weaker than forecast three months ago In 2021 they are expected to increase 2 3 percent In London prices are predicted to fall 2 0 percent this year much sharper than in the last poll and then rise 0 5 percent and 2 5 percent in the following two years Prices have clearly come off the boil of late but on the assumption that the UK does not leave the EU without a deal there is scope for the resumption of a modest upward trend said Peter Dixon at Commerzbank DE CBKG Reflecting the uncertainty the range of forecasts for 2019 was wide between a 3 percent fall and a 0 5 percent rise Nationally it was even wider ranging from a 3 percent rise to a 3 percent fall OVERVALUED With uncertainty still surrounding the Brexit outcome nine of 16 respondents said they think turnover in London homes will fall this year while only two expected a rise Nationally 10 said turnover would stay the same six said fall and two said rise Sales levels will likely stay the same in 2019 as 2018 across the UK although this will vary across the regions said Leslie Schroeder at property consultancy Carter Jonas We expect that London and the South East will see a slight fall in overall levels compared with 2018 again as affordability weighs heavily on the ability for average UK earners to move and buy houses When asked to describe the level of London house prices on a scale of 1 to 10 from extremely cheap to extremely expensive the median response was 8 Nationally they were rated 7 where it has been for a few years Those high ratings are unsurprising as the annual average British salary is around 30 000 pounds 39 000 but the average asking price for a home in Britain was 300 715 pounds this month and more than double that in London property website Rightmove said So although borrowing costs are currently very low and not expected to rise much in the coming years prospective buyers trying to get on the property ladder will struggle as prices continue to rise despite them increasing more slowly this year and next than wages and general inflation are predicted to
The fundamentals of the UK housing market remain as they are lack of supply a growing population cheap money a Brexit of any flavor will not dent those fundamentals said Russell Quirk at online estate agent eMoov Polling by Indradip Ghosh Editing by Hugh Lawson |
WMB | NFL notebook League seeks info on Gurley s injury | A revelation from running back C J Anderson that Todd Gurley s knee injury was more severe than the Los Angeles Rams thought and disclosed triggered an NFL request for more information from the team a league source told Field Level Media Gurley was not on the Super Bowl injury report He largely gave way to Anderson in the postseason but the company line from the Rams centered around head coach Sean McVay taking the blame for not getting Gurley more involved Gurley missed the final two regular season games dealing with an undisclosed knee problem then played on a limited basis in the first two playoff games After the Rams went through their final on field workout Friday two days before the Super Bowl McVay labeled Gurley 100 percent A league source told FLM that the NFL office routinely seeks more information from teams in situations such as Gurley s Rams spokesman Artis Tyman did not confirm or deny a request for information was made regarding Gurley s injury since Anderson s comments instead directing queries on the matter to the NFL The Cincinnati Bengals hired New York Giants secondary coach Lou Anarumo as their defensive coordinator Bengals head coach Zac Taylor worked with Anarumo when both were with the Miami Dolphins Anarumo 52 spent last season coaching the Giants and was in Miami from 2012 17 Anarumo and Taylor were made interim coordinators after the dismissal of head coach Joe Philbin with 12 games to go in the 2015 season Put Denver quarterback Case Keenum atop the list of people surprised by the Broncos trade for Joe Flacco earlier this month Keenum who signed a two year 36 million deal with Denver in March 2018 appeared on The Sports Spectrum podcast with his wife Kimberly GM John Elway called me that morning and we had a great conversation which he didn t have to do and I appreciated that Keenum said It was definitely a shock It was a surprise for us For us we re definitely disappointed It s not something we wanted to happen I know everybody is doing their job and John feels like it was a chance to help the Broncos out The Baltimore Ravens agreed to a three year contract extension with cornerback Tavon Young multiple outlets reported Young a 2016 fourth round draft pick turns 25 next month He had one year remaining on his four year rookie contract ESPN reported the extension is a three year 25 8 million deal with a max value of 29 million making him the NFL s highest paid nickel back NFL Network valued the extension at three years and 27 million The New Orleans Saints are planning to release safety Kurt Coleman and clear more than 4 million in cap space NFL Network reported Coleman signed a three year 16 3 million deal with the Saints last offseason and was due 5 5 million in total compensation in 2019 A source told NFL Network that New Orleans was open to bringing the nine year veteran back at a reduced rate Former Detroit Lions wideout Calvin Johnson Jr was granted preliminary licensing approval to launch a medical marijuana business in Michigan according to mlive com Johnson plans to open a chain of provisioning centers in the state under the brand name Primitive according to his attorney Michael D Stein This was the second time Johnson had sought approval for a provisioning center license The Medical Marijuana Licensing Board denied his request with former Lions teammate Robert Sims two months ago citing Johnson s traffic violations The Broncos have informed free agent nose tackle Domata Peko they don t intend to re sign him 9News Denver reported Per the report the Broncos would like to seek a younger option at the position though they won t rule out Peko if he remains on the market in the later stages of free agency Peko 34 spent the past two years with the Broncos on a two year 7 million deal excelling in a run stopping role The 13 year veteran who spent his first 11 seasons with the Cincinnati Bengals has missed just six games in his career and only two since 2009 The Chicago Bears officially released veteran tight end Dion Sims clearing 6 million in cap space Sims who turned 28 on Monday will count only 333 334 in dead money for 2019 Sims signed a three year 18 million deal with Chicago as a free agent in 2017 The NFL conditionally reinstated former Buffalo Bills running back Karlos Williams NYSE WMB after a lengthy suspension for substance abuse according to multiple reports Williams 25 hasn t played in the league since his rookie season in 2015
The fifth round draft pick from Florida State showed promise when he appeared in 11 games for Buffalo rushing for 517 yards and seven touchdowns and adding 11 catches for 96 yards and two scores Field Level Media |
WMB | A Fed pivot born of volatility missteps and new economic reality | By Howard Schneider and Jonathan Spicer WASHINGTON Reuters The Federal Reserve s promise in January to be patient about further interest rate hikes putting a three year old process of policy tightening on hold calmed markets after weeks of turmoil that wiped out trillions of dollars of household wealth But interviews with more than half a dozen policymakers and others close to the process suggest it also marked a more fundamental shift that could define Chairman Jerome Powell s tenure as the point where the Fed first fully embraced a world of stubbornly weak inflation perennially slower growth and permanently lower interest rates Along with Powell s public comments Fed minutes and other documents the picture emerges of a central bank edging towards a period of potentially difficult change as it reviews how to do business in light of that new reality One question for example is whether to make crisis fighting policies a part of the routine toolkit Another is whether to try to prepare the public to accept higher inflation from time to time Policymakers have debated for years how well traditional central banking fits a world transformed by the global financial crisis a decade ago But it was a brief Oct 3 remark by Powell that set off the chain of events which helped settle the matter We re a long way from neutral now probably Powell said at a Washington think tank event referring to a level of interest rates that neither cool or boost the economy Though Powell was effectively summarizing what the Fed had just concluded at its Sept 25 26 policy meeting when it raised rates amid stronger than expected U S growth his characterization touched a nerve Investors dumped stocks and bonds fearing the Fed aimed to drive rates higher than they felt the economy could withstand It was the beginning of weeks of volatility that led the Fed to recalibrate its message with more than one misstep along the way In doing so the central bank went beyond fine tuning its language or adjusting to changing conditions Interviews with officials as well as analysis of Fed minutes and policymakers public statements suggest the emergence of a long elusive consensus that interest rates would likely never return to pre crisis levels and that once established relationships such as inflation rising when unemployment fell no longer worked Concern that years of solid economic growth and falling unemployment would inevitably rekindle inflation or threaten financial stability have been a staple of Fed debates but had largely disappeared by the Fed s Dec 18 19 meeting according to a review of Fed meeting minutes and officials public statements GRAPHIC How the Fed s meeting minutes reflected changing views on interest rates It was a conclusion hiding in plain sight After a year when the Trump administration pumped around 1 5 trillion of tax cuts and public spending into a full employment economy the Fed in 2018 would miss its 2 percent inflation target yet again I hate to say we were right Dallas Federal Reserve president Robert Kaplan told reporters on Jan 15 in Dallas But we have been warning for quite some time that the structure of the economy has changed dramatically Technological innovation globalization and the Fed s commitment to its inflation target all held down prices and those forces are powerful and they are accelerating he said His arguments echoed those made by St Louis Fed president James Bullard and Minneapolis Fed president Neel Kashkari New Fed vice chairman Richard Clarida and Governor Lael Brainard have flagged similar issues Later in January the Fed s policy meeting jettisoned mention of any further rate increases and cited muted inflation among the reasons largely aligning the Fed with the prevailing sentiment among investors who saw conditions weakening At first it was investors who appeared to have overreacted to Powell s long way from neutral remark in early October Global markets had absorbed nearly two years of quarterly Fed rate increases in stride but yields on U S 10 year Treasury bonds spiked a tenth of a percentage point that day and stocks started a slide that wiped out 10 percent of the S P 500 s value by late November If sustained It was the type of environment with asset values falling and borrowing conditions tightening that could hurt the Main Street economy and not just the investor class The initial response from Powell and others at the Fed was that the U S economy remained strong and that it was not the central bank s job to coddle Wall Street We watch markets very carefully Powell said at a mid November event in Dallas But it is one of many many factors that go into a very large economy But investors were not just reacting to the Fed and the prospect of higher rates Weakening business and consumer confidence slowing global growth and potential disruptions from President Donald Trump s trade war with China also factored in Over the next few weeks the Fed tried to build those concerns into its policy stance but it became clear the situation was more fragile than they had divined In early December a portion of the bond yield curve inverted with short term rates rising above long term ones in what can be seen as a loss of faith in economic growth For months Fed officials had debated whether to discount such developments as the clash and clang of daily trading or to treat them as a significant warning Some including Bullard warned against ignoring what markets seemed to be saying and both he and Kashkari said the Fed should stop raising rates or risk trouble When the Fed met in December policymakers thought they could square the circle Officials proceeded with another quarter point rate increase as expected at the time and released updated projections showing two more rate hikes for 2019 one less than in September but still heading higher LOST NUANCE The Fed hoped though that between a small change in its policy statement and Powell s follow up news conference things would stay calm a strategy Fed officials spelled out after the fact in interviews and in minutes of the December meeting By replacing the phrase that the Fed expected further rate hikes with one saying it judged them likely the central bank tried to show it was now less committed to tighter policy But that nuance was lost on markets and Powell s assurance at the news conference of a newly patient Fed got lost as well when he described the Fed s monthly rundown of as much as 50 billion in assets as on automatic pilot To investors that undermined the intended message since the regular decline in the Fed s asset holdings effectively worked to tighten financial conditions The S P 500 fell another 7 5 percent in the days that followed Investors felt the Fed was not fully appreciating how market turbulence and softening global data put the U S itself at risk the Fed s January minutes concluded in reviewing how the December statement was perceived It was a delicate time New York Fed President John Williams NYSE WMB told Reuters on Tuesday The tweak in the December statement was a pretty subtle message That s one of the challenges of trying to communicate a very complicated and complex situation in just one page Over the next few weeks the Fed eschewed subtlety for a more public acknowledgement that its view of economic reality had changed For a Jan 4 question and answer session at the American Economic Association Powell came armed with written notes and a core message that the Fed was always prepared to shift the stance of policy and to shift it significantly if conditions weakened After the January meeting that message became official References to the new patient approach and muted inflation words cited in minutes of the December meeting became part of the Fed s policy statement A longstanding mention of the need for higher rates was deleted The changes drew no dissent with even those who have worried most about inflation and financial risk falling silent It was a significant moment of unanimity at a central bank that has spent the last decade wondering when rather than whether inflation or financial risks would re emerge Throughout that era some group of officials including Powell early in his central banking career has consistently warned that the combination of falling unemployment cheap money and trillions of dollars injected by the Fed s crisis era policies would inevitably cause problems As the Fed s January meeting minutes showed not all officials have sworn off further rate increases and some noted that a possible turn for the better a resolution of trade tensions for example could lead them to raise rates again But to veteran Fed watchers the bar is now higher The January statement JP Morgan analyst Michael Feroli wrote recently showed the Fed subtly but profoundly evolving to a new view of the world where a variety of forces have changed the way inflation and interest rates work and have now changed how the central bank responds GRAPHIC The Fed s new normal |
WMB | Bye bye Brexit History haunts German woman leaving UK to avoid chaos | By Helena Williams NYSE WMB LONDON Reuters Actor Sonja Morgenstern a German national who has lived in London since 1996 packed up and moved back to Nuremberg this week in hopes of rediscovering the peace and certainty she lost when Britain voted for Brexit in 2016 The 41 year old an active anti Brexit campaigner who dresses up at pro EU events is one of 3 7 million EU citizens living in Britain many of whom fear chaos when it leaves the European Union on March 29 If Prime Minister Theresa May fails to reach a trade deal with the EU as a bridge to Britain s biggest political change in four decades many fear border backlogs and supermarket shortages in the aftermath It feels like some major values that we all share in Europe have been undermined for whatever shady reasons she told Reuters surrounded by boxes and bubblewrap So to just you know blindly keep going in the direction of a cliff like lemmings I don t get it All I know is I m not going to be a winner out of this situation Despite getting British citizenship earlier this year Sonja says she feels an impending doom that Britain once an open minded place has lost its way and that the government has no plan Britain has said that EU citizens and their families who have been living in the UK for at least five years by the end of 2020 will be able to apply for so called settled status giving them the right to remain and work in the country But Sonja said that by deciding to leave she has regained a sense of power A single parent to 4 year old Mio her decision came while stacking tins of tomatoes and spaghetti in case of no deal I started to prepare for Brexit by stockpiling some food she said But then I thought actually this is crazy I might as well spend my energy and my money moving and being closer to family and not having that constant worry The task brought echoes of family emergencies in the past a period of drinking only powdered milk in Germany in the 1980s because of fears of contamination from the Chernobyl nuclear disaster or food shortages during World War Two described by her father and grandmother Being German we ve grown up with a very keen sense of our history and the idea that these things shouldn t repeat and certain things are just you know when they feel sort of slightly worrying when is the right time to leave she said speaking in London accented English Something is brewing that I feel very uncomfortable with Writing and additional reporting by Elisabeth O Leary editing by Stephen Addison |
WMB | NHL roundup Stars snap Blues winning streak | Jamie Benn recorded his second two goal game of the season and the Dallas Stars ended the visiting St Louis Blues franchise record 11 game winning streak with a 5 2 decision Thursday The Blues had not dropped a game since a 4 3 loss at Los Angeles on Jan 21 Radek Faksa and Tyler Seguin each added a goal and an assist for the Stars who snapped a three game losing streak Alexander Radulov also scored for Dallas which got two assists from Esa Lindell Stars goalie Anton Khudobin made 43 saves to win for the second time in his past seven games Ryan O Reilly had a goal and an assist for St Louis which also got a goal from Vladimir Tarasenko Blues goalie Jordan Binnington made 20 saves but saw his nine game winning streak end Lightning 2 Sabres 1 SO Steven Stamkos and Nikita Kucherov scored in a shootout to lead host Tampa Bay past Buffalo the Lightning s eighth straight win Kucherov made history in the second period when he buried his 30th goal for his 100th point making him the first Lightning player with multiple 100 point seasons The Russian winger is the first NHL player to record 100 points 30 goals NHL best 70 assists in 62 games or fewer since Mario Lemieux accomplished it in 61 games in the 1996 97 season Rasmus Dahlin scored a goal for the Sabres who lost their fourth straight and dropped three of the four meetings in the season series with Tampa Bay Sharks 4 Penguins 0 Martin Jones made 26 saves Tomas Hertl scored twice and San Jose rode its special teams to a win at Pittsburgh Hertl s goals came on power plays and Evander Kane scored short handed Brent Burns had a power play goal and two assists Kevin Labanc also had two assists Jones who picked up his 29th win earned his 21st career shutout first against the Penguins and second this season San Jose which was kicking off a four game road trip is 8 1 1 in its past 10 games Casey DeSmith made 29 saves for Pittsburgh which had won four of its previous five Canadiens 5 Flyers 1 Brendan Gallagher scored his first career NHL hat trick to lead Montreal past visiting Philadelphia Jesperi Kotkaniemi and Tomas Tatar also scored for Canadiens who improved to 8 1 2 in their past 11 home games Carey Price saved 29 of 30 shots for his 25th victory of the season Michael Raffl scored 10 23 into the third period for Philadelphia s lone goal of the game For the second game in a row goalie Carter Hart was pulled in the first period after allowing three goals on nine shots Wild 4 Rangers 1 Zach Parise scored a goal and added an assist as Minnesota snapped a five game losing streak with a victory at New York Jared Spurgeon Mikael Granlund and Jordan Greenway also scored for the Wild and Eric Staal and Ryan Donato each had two assists The Wild had been shut out in their previous two games and won for just the second time 2 7 3 in 11 games since the All Star break Devan Dubnyk made 33 saves Pavel Buchnevich scored the lone goal for the Rangers and Henrik Lundqvist stopped 31 of 34 shots Predators 2 Kings 1 Roman Josi had a goal with an assist to help Nashville move into first place in the Central Division thanks to a home victory over Los Angeles Pekka Rinne made several key saves and 28 total for the Predators who now sit one point ahead of the slumping Winnipeg Jets for the Central lead Kyle Turris also scored for Nashville which has won three of four following an 0 2 1 slide The Kings who got a goal from Michael Amadio matched a season high with their sixth straight defeat Devils 4 Senators 0 Cory Schneider made 30 saves to record his 25th career shutout as New Jersey skated to a victory over Ottawa in Newark N J Miles Wood collected a goal and an assist before exiting late in the second period with an undisclosed injury Travis Zajac and Steven Santini also scored and Kurtis Gabriel recorded his first career NHL goal for the Devils who have won three of their past four The NHL worst Senators took a ninth loss in their past 12 contests Hurricanes 4 Panthers 3 Justin Williams NYSE WMB scored two goals including one that hit him in the face to help Carolina rally for a win at Sunrise Fla Williams who also had an assist left the ice bleeding after he scored Carolina s first goal off his right cheekbone He quickly returned with gauze in his nose and then scored Carolina s fourth goal giving the Hurricanes a 4 3 lead with 17 45 left in the third The Panthers got three straight second period goals in a span of 4 15 from Evgenii Dadonov Aleksander Barkov and Jonathan Huberdeau That gave Florida a 3 2 lead but Carolina rallied with two third period goals from Justin Faulk and Williams Nino Niederreiter scored Carolina s other goal Capitals 3 Maple Leafs 2 Tom Wilson scored a short handed goal and added an assist to help Washington prevail at Toronto Alex Ovechkin and Brett Connolly also scored one goal each and Lars Eller added two assists for the Capitals who are 3 2 0 during their six game road trip Washington s Braden Holtby stopped 40 shots Andreas Johnsson and John Tavares scored for the Maple Leafs who have lost three in a row Frederik Andersen made 25 saves Coyotes 3 Canucks 2 OT Alex Galchenyuk scored 1 54 into overtime to lead visiting Arizona past Vancouver Galchenyuk scored on a fake wraparound as he went one way behind the net and backtracked and tucked the puck in He also had an assist as the Coyotes posted their fifth win in the past seven games Jakob Chychrun and Lawson Crouse added goals for the Coyotes Bo Horvat and Adam Gaudette tallied for the Canucks and Antoine Roussel assisted on both goals Vancouver lost for the fourth time in its past five outings Oilers 4 Islanders 3 OT Connor McDavid scored the winner to cap a two point game and Leon Draisaitl also notched one goal and one assist as host Edmonton snapped a five game losing skid with an overtime victory against New York McDavid converted a backhand shot 82 seconds into the extra frame a goal set up by Draisaitl Sam Gagner and Oscar Klefbom also scored and Oilers goalie Mikko Koskinen stopped 20 shots
Brock Nelson Anders Lee and Cal Clutterbuck tallied for New York which lost for the second night in a row Robin Lehner made 37 saves Field Level Media |
VZ | Frontier FTR Beats Q2 Earnings Estimates Lowers Guidance | Frontier Communications Corporation NASDAQ FTR reported lackluster second quarter 2019 results due to secular decline in business higher operating costs and pressure across the business The company recorded year over year decrease in revenues and wider loss despite stringent cost management Net LossFor the second quarter the company incurred net loss of 5 317 million or loss of 51 07 per share compared with loss of 72 million or loss of 92 cents per share a year ago The wider loss was primarily attributable to goodwill impairment charges of 5 449 million The charges were largely due to expectation of continued revenue decline lower outlook for the overall industry and below par expectations about the long term sustainability of the capital structure Adjusted net income for the quarter was 98 cents per share against loss of 80 cents in the prior year quarter The bottom line comfortably beat the Zacks Consensus Estimate of a loss of 34 cents Frontier Communications Corporation Price Consensus and EPS Surprise
RevenuesQuarterly revenues were 2 067 million compared with 2 162 million in the year ago quarter The year over year decline was primarily due to lower revenues from all the segments The top line however beat the Zacks Consensus Estimate of 2 065 million Quarterly Segmental PerformanceRevenues from the Customer segment declined to 1 972 million from 2 065 million While Consumer revenues were 1 050 million down from 1 095 million owing to lower voice and video services due to customer losses Commercial revenues totaled 922 million down from 970 million due to lower voice services Subsidy revenues declined to 95 million from 97 million Other DetailsTotal operating expenses were 7 526 million up from 1 795 million due to goodwill impairment charges Operating loss was 5 459 million against operating income of 367 million in the prior year quarter Adjusted EBITDA totaled 882 million compared with 884 million a year ago reflecting a margin of 42 7 and 40 9 respectively Cash Flow and LiquidityFor the first six months of 2019 Frontier Communications generated 857 million of net cash from operating activities compared with 923 million in the prior year period As of Jun 30 2019 the company had 267 million in cash and equivalents with 16 357 million of long term debt At the quarter end Frontier Communications leverage ratio was 4 69 1 It remains committed to reducing debt and improving its financial leverage position During the quarter the company entered into a definitive agreement to sell operations and all associated assets in Washington Oregon Idaho and Montana for 1 35 billion The sale proceeds are likely to be utilized to pay off the company s financial obligations while strengthening its liquidity position Guidance LoweredFrontier Communications lowered its earlier guidance for 2019 This was a result of lower revenue expectations due to secular decline in business lack of clarity regarding the long term sustainability of the capital structure and a soft outlook for the overall industry The company currently expects adjusted EBITDA between 3 35 billion and 3 42 billion down from earlier range of 3 45 3 55 billion While capital expenditures are expected to be nearly 1 2 billion cash interest expenses are projected to be around 1 48 billion Operating free cash flow is projected to be 290 million to 360 million down from 575 675 million expected earlier The company expects 200 million in EBITDA run rate improvement by 2019 and 200 250 million by 2020 Zacks Rank and Other Stocks to ConsiderFrontier Communications currently has a Zacks Rank 2 Buy Other stocks in the broader industry worth considering are United States Cellular Corporation NYSE USM I D Systems Inc NASDAQ IDSY and Verizon Communications Inc NYSE VZ each carrying a Zacks Rank 2 You can see United States Cellular delivered average earnings surprise of 38 3 in the trailing four quarters beating estimates thrice I D Systems has a long term earnings growth expectation of 30 It delivered average earnings surprise of 66 7 in the trailing four quarters Verizon has a long term earnings growth expectation of 4 3 It delivered average earnings surprise of 2 6 in the trailing four quarters beating estimates on each occasion This Could Be the Fastest Way to Grow Wealth in 2019Research indicates one sector is poised to deliver a crop of the best performing stocks you ll find anywhere in the market Breaking news in this space frequently creates quick double and triple digit profit opportunities These companies are changing the world and owning their stocks could transform your portfolio in 2019 and beyond Recent trades from this sector have generated 98 119 and 164 gains in as little as 1 month |
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