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VZ | AT T Invests In Illinois Infrastructure To Boost Network | AT T Inc NYSE T recently announced that it has invested more than 7 2 billion in its Illinois wireless and wired networks during 2011 2018 in an attempt to strengthen its market dominance With these planned investments the telecom giant aims to enhance reliability coverage speed and overall performance for consumers and business houses In 2018 the company made 1 751 wireless network upgrades in Illinois It added new cell sites and increased network capacity The wireless carrier has improved critical services that support Public Safety and first responders using the FirstNet communications platform Markedly this platform has been built with AT T in a public private partnership with the First Responder Network Authority an independent agency within the federal government AT T has also helped meet customers needs mostly in rural areas by participating in the FCC s Connect America Fund Over the past five years AT T 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 to any other provider in North America AT T s wireless network covers more than 99 of Americans and is reportedly the fastest in the nation Its LTE network reaches more than 400 million people in North America Noteworthy network enhancements across Illinois in 2018 included making more than 1 712 capacity upgrades adding four new cell sites expanding 4G LTE to four cell sites and improving 31 distributed antenna system networks AT T has long term earnings growth expectation of 4 5 Driven by diligent execution of operational strategies the stock has rallied 19 compared with the s growth of 8 2 in the year to date period Further AT T is on track to deliver on all its 2019 priorities It continues to pay down debt and remains confident to meet its year end deleveraging goal The company s FirstNet build is not only running ahead of schedule it has become a driver of its wireless network leadership in speed reliability and network performance Also it facilitates AT T to have nationwide commercially available 5G coverage in the first half of 2020 The company s 5G service involves utilization of millimeter wave spectrum for deployment in dense pockets and in suburban and rural areas it plans to deploy 5G on mid and low band spectrum holdings It is building networks that enable fiber based connectivity and LTE to work efficiently in parallel with 5G solutions making the most of business transformation Zacks Rank Stocks to ConsiderAT T currently has a Zacks Rank 3 Hold Some better ranked stocks in the industry include I D Systems Inc NASDAQ IDSY United States Cellular Corp NYSE USM and Verizon Communications Inc NYSE VZ each carrying a Zacks Rank 2 Buy You can see I D Systems has long term earnings growth expectation of 30 U S Cellular surpassed earnings estimates thrice in the trailing four quarters the average positive surprise being 38 3 Verizon surpassed earnings estimates in each of the trailing four quarters the average positive surprise being 2 6 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 |
VZ | Ubiquiti UBNT Q4 Earnings Miss Estimates Revenues Up Y Y | Ubiquiti Networks Inc NASDAQ UBNT reported decent fourth quarter fiscal 2019 financial results wherein both the bottom line and the top line increased on a year over year basis Following the announcement share price declined 4 9 in Friday s trading session to eventually close at 113 95 Net IncomeOn a GAAP basis net income for the June quarter was 70 9 million or 1 01 per share compared with 70 1 million or 94 cents per share in the prior year quarter The improvement was primarily due to top line growth and reduction in share count For fiscal 2019 GAAP net income was 322 7 million or 4 51 per share compared with 196 3 million or 2 51 per share in fiscal 2018 For fiscal fourth quarter non GAAP net income came in at 83 6 million or 1 19 per share compared with 74 8 million or 1 01 per share in the year ago quarter The bottom line however missed the Zacks Consensus Estimate by 11 cents Ubiquiti Networks Inc Price Consensus and EPS Surprise RevenuesQuarterly revenues increased 6 3 year over year to 286 6 million on the back of higher sales at Enterprise Technology business By product type revenues from Service Provider Technology were 100 9 million compared with 105 9 million in the year ago quarter Enterprise Technology revenues were 185 7 million compared with 163 8 million a year ago Geographically revenues from North America were 147 5 million compared with 124 5 million in the year ago quarter Revenues from Europe Middle East and Africa were 92 3 million down from 102 3 million Revenues from Asia Pacific were 26 2 million up from 22 4 million Revenues from South America were 20 7 million compared with 20 6 million in the prior year quarter For fiscal 2019 revenues increased 14 2 year over year to 1 161 7 million Other Quarterly DetailsGross profit increased to 132 9 million from 120 5 million in the year ago quarter led by top line growth Gross margin improved to 46 4 from 44 7 driven by favorable mix of products sold and lower indirect expenses Total operating expenses were 32 1 million compared with 32 4 million in the year earlier quarter on account of lower SG A expenses Operating income improved to 100 9 million from 88 1 million due to higher gross profit Cash Flow LiquidityDuring fiscal 2019 Ubiquiti generated 259 3 million of net cash from operating activities compared with 332 million in fiscal 2018 As of Jun 30 2019 the computer networking company had 238 1 million in cash and equivalents with 464 7 million of long term debt compared with the respective tallies of 666 7 million and 460 4 million a year ago During the reported quarter Ubiquiti repurchased 1 116 466 shares at an average price of 127 52 per share For fiscal 2019 it repurchased 4 733 853 shares at an average price of 99 38 per share As of Aug 8 2019 the company had 7 4 million worth of shares outstanding under its 200 million share repurchase program announced on Nov 9 2018 It has initiated a new share repurchase program for up to 500 million Stocks to ConsiderSome top ranked stocks in the broader industry are Nokia HE NOKIA Corp NYSE NOK Verizon Communications Inc NYSE VZ and United States Cellular Corporation NYSE USM each carrying a Zacks Rank 2 Buy You can see Nokia surpassed earnings estimates thrice in the trailing four quarters the average positive surprise being 89 3 Verizon surpassed earnings estimates in each of the trailing four quarters the average positive surprise being 2 6 U S Cellular surpassed earnings estimates thrice in the trailing four quarters the average positive surprise being 38 3 Today s Best Stocks from ZacksWould 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 |
WMB | Tennis ITF s new pathway to help dreamers reach the top | By Martyn Herman LONDON Reuters Armed with his talent and a racket bag full of hope Frenchman Evan Furness is one of the dreamers hoping to climb from tennis s lowest rungs up onto the biggest stages of all The trouble is the vast majority of the thousands of players who venture like 20 year old Furness into the jungle of world tennis find the path leads not to fame and fortune but to a dead end and debt Far from emulating the likes of Roger Federer or Serena Williams NYSE WMB most never even reach the lucrative ATP or WTA Tours and hundreds never earn a bean for all their hard graft In 2017 there were 14 000 so called tennis professionals but fewer than 600 broke even before coaching costs While the likes of Novak Djokovic and Serena earn fortunes from the sport and even men s 100th ranked Vasek Pospisil has banked 5 2 million in a decade on Tour around 80 percent of professionals quit having earned next to nothing In truth for the majority a career as a tennis pro has been more fantasy than reality Which is why the International Tennis Federation ITF has acted on its three year Player Pathway review a comprehensive study into the professional game published in 2017 and why players like Furness now see light at the end of the tunnel The new ITF World Tennis Tour a transition circuit of 1 600 junior and entry level tournaments began in January to provide a streamlined progression between the junior and senior game enabling more professional players to make a living Prize money pools of 15 000 and 25 000 will be available for entry level men s and women s events while crucially reserved places will be available in higher level tournaments Jackie Nesbitt Executive Director of the ITF Pro Circuits said the initial indications were positive As a sport it was clear we needed to do much better for the players she told Reuters by telephone The new structure has a clear aim and that is to support the best young male and female players and to deliver them to the ATP and WTA Tours It s about fast tracking on merit allowing the best players in the entry level tournaments to move up through the professional pathway quicker and at less cost to themselves The new system features an ITF World Tour ranking list which will run separately from the ATP and WTA rankings both of which will be trimmed back to 750 players Top 100 ranked juniors will be eligible for reserved places in 15k tournaments while Level 2 25k draws will also have places for players doing well at a lower level Four reserved places will be available for ITF ranked players in ATP Challenger one level below the full ATP Tour Frenchman Furness took advantage of a reserved spot to win a 25k event in Hong Kong and then won another title in Switzerland proof Nesbitt said that the system worked We are really encouraged Nesbitt said It shows they are competing at the right level and are competitive at that level While reducing the quantity of players might seem counter intuitive ITF president David Haggerty said offering better rewards will help retain the best talent But how many players will make money Too many people were competing for the prize money available Nesbitt said We want to see a significant uplift in players making money It will be one of our key performance indicators that tell us how successful these reforms have been With minimal rewards the lowest rungs of professional tennis have been vulnerable to potential match fixing Of the 264 match alerts flagged up to the Tennis Integrity Unit TIU by the betting industry in 2018 163 were in entry level men s events compared with five on the ATP Tour Nesbitt believes offering a clearer path to the higher echelons of the game can help fight corruption
Better targeted prize money will help more players earn a living from the game she said We are creating a good environment for juniors to learn their trade be educated in integrity and doping matters and they know they will be rewarded for doing well in the juniors |
WMB | F1 s Williams target Wednesday new car track debut | By Alan Baldwin BARCELONA Reuters Williams NYSE WMB could finally get their troubled new Formula One car on track on Wednesday five days later than planned and well behind rivals already pounding out laps in testing The former champions who finished last overall in 2018 and have shed a number of sponsors had planned to debut the car last Saturday for a limited mileage filming session at Barcelona s Circuit de Catalunya That deadline slipped because the FW42 was not ready and Williams were then the only team unable to make the start of official pre season testing on Monday A Williams spokeswoman said the car was now expected to arrive at the circuit between 0300 0400 GMT on Wednesday but was unlikely to run in the morning session that starts at 0800 GMT Obviously there will still be a fair amount to do but we will be working as fast as we can she added The first pre season test ends on Thursday with a further four days next week before the teams head out for the opening race in Australia on March 17 The lack of testing time is a big setback for a team hoping to clamber back from one of their worst ever seasons and pinning their hopes on coming up with a much better car than the woeful one produced last year Williams who took nine constructor s titles and seven driver s crowns during their glory years between 1980 and 1997 scored only seven points from 21 races last year The inability to produce the car on time has raised questions about the future of technical head Paddy Lowe who joined in 2017 from champions Mercedes and is the man ultimately responsible for delivering it The Formula One website reported fears that the new car based on data simulations could also be almost two seconds slower than its closest rival when it does hit the track
Williams have not given details of why deadlines were missed fuelling speculation that there could be a serious problem with the design that has needed fixing |
WMB | Reports Padres Machado agree to 10 year 300 million deal | The San Diego Padres have reached an agreement with free agent infielder Manny Machado on a 10 year 300 million deal according to multiple reports Tuesday It would be the most lucrative free agent contract in the history of American sports according to MLB com Padres executive chairman Ron Fowler cautioned in an interview with The Athletic the deal was not done We do not have a deal We are continuing discussions Fowler said But The Athletic s Ken Rosenthal characterized Fowler s comments as semantics reporting that the financial terms are in place and that the two sides are finalizing the language Machado also needs to pass a physical Two of the runners up for Machado the Chicago White Sox and Philadelphia Phillies were informed of Machado s decision on Tuesday afternoon Both teams are also rumored to still be in the running for the remaining big bat in free agency Bryce Harper The White Sox met with Machado s representatives Monday night according to general manager Rick Hahn and owner Jerry Reinsdorf was also present Hahn said they left the meeting feeling pretty good about their chances to sign Machado The Phillies were also in contact with Machado s reps We had a pretty good idea of where this thing was going Phillies GM Matt Klentak said Tuesday If the contract value reports are true then this contract will exceed our valuation and sometimes you have to be willing to walk away Rosenthal reported the White Sox upped their offer to 350 million including incentives for performance but Machado wanted 300 million guaranteed and got it White Sox executive vice president Ken Williams NYSE WMB met with media on a side field from his golf cart in Arizona Williams said he kept his sunglasses on for the interview to hide my shock You ve got to give it to them They are in a similar trajectory as we are For the same reasons we were after him they were after him Williams said adding that Chicago could not get to that 300 million level Hahn acknowledged the White Sox made an improvement to our proposal on Monday Trying really hard and failing isn t sufficient Hahn said but he wouldn t broach the topic of Harper We re not going to close on all of them we learned that harshly today I can certainly look at our offer and say in some elements it s superior Hahn said So I don t know what the trigger was in terms of Machado making the final decision I do not want to say this came only down to money We will continue to pursue premium talent The contract reportedly includes an opt out after the fifth season Machado 26 batted 297 with 37 home runs and 107 RBIs last season with the Baltimore Orioles and Los Angeles Dodgers The four time All Star and two time Gold Glove Award winner was one of the top unsigned superstars on the market along with Harper Landing Machado doesn t eliminate San Diego from the Harper chase MLB Network s Jon Heyman reported that the Padres haven t ruled out another big move as their projected 110 million payroll including Machado is still lower than most teams
The Padres have posted eight straight losing seasons and haven t been to the playoffs since 2006 Field Level Media |
WMB | Exclusive Fed s Williams says new economic outlook necessary for rate hikes | By Howard Schneider Jonathan Spicer and Trevor Hunnicutt NEW YORK Reuters New York Fed President John Williams NYSE WMB on Tuesday said he was comfortable with the level U S interest rates are at now and that he sees no need to raise them again unless economic growth or inflation shifts to an unexpectedly higher gear In an interview with Reuters Williams estimated the Federal Reserve would continue trimming its bond portfolio well into next year He also said he felt rates had reached his current view of a lower neutral level with growth and unemployment leveling off and inflation if anything a bit weaker than hoped Asked if it would take some sort of shock to resume rate increases he said it would require one or more of those factors to surprise to the upside I don t think that it would take a big change but it would be a different outlook either for growth or inflation to return to hiking rates Williams one of the Fed s three vice chairs and a key voice on rate policy told Reuters Williams comments made just weeks after the U S central bank paused its once quarterly rate hikes underscore just how high the bar would be for tighter monetary policy and suggest that such a move may not come anytime soon The Fed could also keep levels of bank reserves on its books that are far closer to current levels than previously thought Williams said Along with its rate hike holiday Fed policymakers are finalizing plans on how they would end the reduction of their balance sheet which includes holdings of bank reserves bulked up in part by the Fed s need for cash to buy bonds to halt the global financial crisis a decade ago Williams estimated the so called balance sheet rolloff could end when bank reserves get to maybe 1 trillion of reserves or somewhat more than that about 600 billion less than current levels The figure is a guess today of the amount of reserves that will be held in the system in the future but again we are learning and will get a finer touch on that he said That view implies the runoff would continue at least into next year at its current pace At least two Fed policymakers have said the Fed could stop making changes to the portfolio this year Williams who is vice chairman of the rate setting Federal Open Market Committee and votes when that group meets said policymakers are in a very good place with rates around neutral the U S economy growing and price pressures subdued Monetary policy is where it should be he said It s around my view of what neutral interest rates are After Williams remarks stocks pared gains into the market close Tuesday afternoon with the S P 500 ending up 0 15 percent Yields on U S Treasury bonds fell Benchmark 10 year notes fell to 2 64 percent from a high near 2 68 percent earlier in the day After its most recent meeting Fed policymakers signaled their three year drive to tighten monetary policy may be at an end due to a cloudy U S and global economic outlook as well as impasses over trade and government budget negotiations Further details on the policy meeting at the end of January are expected when the Fed releases records from its deliberations on Wednesday The Fed increased interest rates three times in 2017 and four times last year pushing them up to between 2 25 percent and 2 5 percent at its final 2018 meeting in December
The central bank s balance sheet ballooned to over 4 trillion in the wake of the 2007 09 recession but policymakers began trimming bond holdings in the final months of 2017 |
WMB | Tearful Osaka stunned by Mladenovic in Dubai | Reuters A tearful Naomi Osaka said she was struggling with the attention of being the world s top ranked woman after being stunned 6 3 6 3 by France s Kristina Mladenovic in her opening match at the Dubai Duty Free Tennis Championships on Tuesday Playing her first match since claiming the number one ranking with her Australian Open triumph the Japanese 21 year old capitulated in just over an hour having won less than half of her first serve points while making 25 unforced errors It was the second major surprise in a week involving U S Open champion Osaka who announced she had parted ways with Sascha Bajin the coach who had guided her in both her Grand Slam victories This match is the result of that Osaka told reporters of her coaching shake up I m pretty sure as time goes on you guys will stop talking about it For now it s like the biggest tennis news I guess See it s a little bit hard because I feel like people are staring at me and not in a good way The hard hitting Osaka has become one of tennis s most bankable players since upsetting American great Serena Williams NYSE WMB in the final at Flushing Meadows but has always spoken of feeling uncomfortable in the spotlight Osaka wiped away tears as she spoke of the challenge of adjusting to her new celebrity I don t think I necessarily understand what position I m in in a way she said And because last year I wasn t even anywhere close to this ranking and people didn t pay attention to me and that s something that I m comfortable with I don t know why I m crying she said with a smile I don t know why this is happening I don t really like the attention so yeah it s been a little tough Mladenovic ranked 67th hit less winners than Osaka but converted seven of 10 break points to claim her first win over a world number one It means a lot honestly Mladenovic said after booking a match with a Spain s Carla Suarez Navarro in the last 16 I know I m capable of beating great players Osaka aside most of the other big names progressed safely to the third round Australian Open runner up Petra Kvitova rallied from a set down to beat Czech compatriot Katerina Siniakova 6 7 3 6 4 6 4 while third seed Simona Halep advanced with a 7 6 4 6 4 victory over Canadian wildcard Eugenie Bouchard Kvitova the second seed was almost the architect of her downfall with nine double faults in the match but recovered to set up a match with American qualifier Jennifer Brady Brady pulled off another of the day s upsets when she beat 14th seed Caroline Garcia 6 4 7 5 joining compatriot Sofia Kenin in the next round
Defending champion Elina Svitolina also advanced after her second round opponent Ons Jabeur of Tunisia was forced to retire with an apparent shoulder injury while trailing 7 6 4 4 0 |
WMB | U S China trade hopes extend equity surge central banks supportive | By Abhinav Ramnarayan LONDON Reuters World stocks hit a four month high on Wednesday on hopes of progress in trade talks between the United States and China with a dovish backdrop at major central banks also helping push markets back into the black U S President Donald Trump said negotiations with China were going well and suggested he was open to extending the deadline to complete them beyond March 1 Up to now it was assumed U S tariffs on 200 billion worth of Chinese imports would rise to 25 percent from 10 percent if no trade deal was reached by then Asian shares soared on Trump s comment and European stock indices also strengthened with a pan European index gaining 0 3 percent pushing the MSCI world equity index which tracks shares in 47 countries to a four month high U S stock futures suggested that Wall Street would hold on to Tuesday s strong gains and open about flat N I d say the market is very much pricing in a deal at this stage and there s some merit to this as I don t think you engage in such a solid period of talks over a number of weeks unless you feel you are getting somewhere said Craig Erlam chief market analyst at OANDA an FX brokerage The talk of an extension suggests Trump is positive about the direction of travel He added however that the market remains vulnerable to any further setbacks DOVISH CENTRAL BANKS While hopes for a trade deal between the world s two largest economies are seen as the primary driver for world stocks dovish central bank messages are also playing a part New York Fed President John Williams NYSE WMB on Tuesday said he was comfortable with the level U S interest rates were at and that he saw no need to raise them again unless economic growth or inflation shifted to an unexpectedly higher gear Investors are also looking to the release on Wednesday of minutes from the Federal Reserve s January meeting at which policymakers effectively signaled no further rate hikes and possible tweaks to its balance sheet normalization In Europe expectations have been growing that the European Central Bank will restart a program to provide long term cheap loans to banks to boost a faltering economy while the Bank of Japan has flagged its readiness to ease further MSCI s broadest index of Asia Pacific shares outside Japan rose as much as 1 1 percent to mark its highest levels since Oct 2 Hong Kong s Hang Seng gained as much as 1 3 percent to six month highs while Korea s Kospi and Taiwan s index recovered to levels last seen in early October Japan s Nikkei added 0 6 percent to two month highs On currency markets the dollar steadied against a basket of major currencies after suffering its biggest one day loss of the month on Tuesday It had also recorded big slides against the euro and sterling The greenback strengthened 0 2 percent against the yen after Japan recorded its biggest annual drop in exports in January for more than two years and on recent dovish Bank of Japan signals Markets were also focused on newsflow on the Brexit front with sterling holding most of its gains following a 1 percent surge on Tuesday as British Prime Minister Theresa May headed to Brussels to try push negotiations forward The yuan rose as much as 0 6 percent against the dollar its biggest intra day gain in more than a month after Bloomberg reported on Tuesday that the United States was seeking to secure a pledge from China that it will not devalue the currency as part of a trade deal Oil prices came off 2019 highs hit by U S production and expectations of an economic slowdown O R
International Brent crude futures dropped 0 65 percent at 66 02 per barrel having hit a three month high of 66 83 per barrel earlier this week supported by OPEC led supply cuts and U S sanctions on Iran and Venezuela |
WMB | Motor racing Raikkonen pushes Ferrari off the top of test timesheets | By Alan Baldwin BARCELONA Reuters Alfa Romeo driver Kimi Raikkonen produced the fastest lap so far in Formula One s pre season testing to push his previous team Ferrari NYSE RACE off the top of the lunchtime leaderboard on Wednesday It was the first time since testing started on Monday at the Circuit de Catalunya that Ferrari had not led at the end of a session The Finn returning to the Swiss based team previously known as Sauber lapped with a best time of one minute 17 762 seconds on the softest and fastest C5 tyre compound Ferrari s Sebastian Vettel his team mate last season was second fastest in 1 18 350 Raikkonen s lap was also the first time a team had gone faster in 2019 than they managed in last year s pre season testing Champions Mercedes continued to keep their powder dry with Finland s Valtteri Bottas the slowest of the nine cars on track but doing more laps than anyone else 88 to Vettel s 80 both on the same medium C3 tyre Renault s Nico Hulkenberg was third fastest in 1 18 800 McLaren whose performance has been encouraging over the first two days missed the first two hours after what they described as some overnight changes to the car but managed to get Spaniard Carlos Sainz out for 27 laps before lunch Williams NYSE WMB continued to be absent from the track but were expected to appear in the afternoon after their much delayed car reached the track in the early hours after problems finishing building it on time
British rookie George Russell was scheduled to drive the opening laps for the former champions who finished bottom of the constructors table in 2018 |
VZ | Verizon s Q2 Earnings Will Highlight A Less Risky Approach To Reviving Growth | Reports Q2 2019 results on Thursday Aug 1 before the open
Revenue expectation 32 41 billion
EPS expectation 1 2
It s not a good time to be excited about telecom companies like Verizon NYSE VZ The consumer shift to internet based entertainment providers has accelerated cord cutting pushing their revenues from cable and media businesses into a perpetual decline In addition to that cut throat competition in the wireless market is also hurting their margins
These headwinds are likely to depress Verizon s Q2 earnings when it reports tomorrow They ve already weighed heavily on the shares of the U S s largest wireless carrier which have significantly underperformed the broader market this year Verizon stock has gained just 2 while the S P 500 hit a new record and is up more than 20 The shares closed down 1 3 yesterday at 56 64
To survive in this challenging environment the leading players in the U S are trying different strategies AT T NYSE T for example completed an 85 billion merger with Time Warner last year as part of its push to become a modern media giant betting big on its coming video streaming service
Last week the U S Justice Department approved the acquisition by T Mobile U S NASDAQ TMUS of Sprint Corp clearing one of the biggest hurdles to a takeover that will consolidate the wireless industry and limit the number of players in the game
Verizon s Different Approach To Growth
Verizon is taking a different approach though Instead of bulking up its balance sheet with mega deals Verizon has been focusing on improving its infrastructure and cutting costs The company s new CEO Hans Vestberg has so far avoided the big entertainment acquisitions that peers like AT T and Comcast NASDAQ CMCSA have pursued
Instead the carrier has made smaller bets focused on enhancing its strategy to quickly improve its network Due to its timely acquisition of Straight Path Communications last year Verizon is ahead in the race to build a fifth generation or 5G network part of an industry wide effort to increase speeds and open up new revenue sources
5G wireless networks are crucial for the success of some futuristic applications such as driverless cars smart homes and remote surgical procedures and this is one area where Verizon is firmly at the head of the pack
In October Verizon got a head start in introducing residential broadband and TV services using 5G technology in four cities that are serving as a testing ground for the company It plans to roll out the service in parts of more than 30 cities before the end of the year
This slow but steady approach isn t generating too many headlines for the carrier However it s clearly helping keep the growth momentum going In the first quarter Verizon posted an 11 jump in net income to 5 billion from 4 5 billion a year earlier Quarterly revenue ticked up about 1 to 32 1 billion
The company is in the process of cutting 10 billion in costs by 2021 By the end of Q1 Verizon had already cut 3 billion in spending helped by a voluntary severance program and expense savings
Bottom Line
Verizon s earnings report tomorrow may not provide many good reasons to buy its stock given the tough operating environment for telecoms But in our view the downside risk during this time of distress is also limited when it comes to Verizon With its focused growth strategy strong balance sheet growing dividend Verizon is a solid and comparatively safe pick for long term investors |
VZ | Verizon Communications VZ Tops Q2 Earnings Estimates | Verizon Communications VZ came out with quarterly earnings of 1 23 per share beating the Zacks Consensus Estimate of 1 20 per share This compares to earnings of 1 20 per share a year ago These figures are adjusted for non recurring items
This quarterly report represents an earnings surprise of 2 50 A quarter ago it was expected that this largest U S cellphone carrier would post earnings of 1 17 per share when it actually produced earnings of 1 20 delivering a surprise of 2 56
Over the last four quarters the company has surpassed consensus EPS estimates four times
Verizon which belongs to the Zacks Wireless National industry posted revenues of 32 07 billion for the quarter ended June 2019 missing the Zacks Consensus Estimate by 1 This compares to year ago revenues of 32 20 billion The company has topped consensus revenue estimates just once over the last four quarters
The sustainability of the stock s immediate price movement based on the recently released numbers and future earnings expectations will mostly depend on management s commentary on the earnings call
Verizon shares have lost about 1 7 since the beginning of the year versus the S P 500 s gain of 18 9
What s Next for Verizon
While Verizon has underperformed the market so far this year the question that comes to investors minds is what s next for the stock
There are no easy answers to this key question but one reliable measure that can help investors address this is the company s earnings outlook Not only does this include current consensus earnings expectations for the coming quarter s but also how these expectations have changed lately
Empirical research shows a strong correlation between near term stock movements and trends in earnings estimate revisions Investors can track such revisions by themselves or rely on a tried and tested rating tool like the Zacks Rank which has an impressive track record of harnessing the power of earnings estimate revisions
Ahead of this earnings release the estimate revisions trend for Verizon was mixed While the magnitude and direction of estimate revisions could change following the company s just released earnings report the current status translates into a Zacks Rank 3 Hold for the stock So the shares are expected to perform in line with the market in the near future You can see the complete list of today s Zacks 1 Rank Strong Buy stocks here
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead The current consensus EPS estimate is 1 22 on 32 84 billion in revenues for the coming quarter and 4 75 on 131 83 billion in revenues for the current fiscal year
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well In terms of the Zacks Industry Rank Wireless National is currently in the top 30 of the 250 plus Zacks industries Our research shows that the top 50 of the Zacks ranked industries outperform the bottom 50 by a factor of more than 2 to 1 |
VZ | Trump s Tariffs Shock Markets | FX President Trump triggered a rush for safety midway through Thursday s US session when he tweeted that the US would impose 10 tariffs on 300B of Chinese goods that are not currently taxed As a result the safe haven yen was the strongest major currency on the day and the risk sensitive Aussie was the fell 2 on the day and is on track for its lowest close since 2010 See
Commodities Oil cratered on the surprise announcement falling by more than 7 on the day Gold shined rising 1 as risk assets fell
US indices collapsed on the tariff headlines dumping from 1 on the day to trade down by more than 0 5 across the board Utilities XLU were the strongest sector with their generally high dividends in demand as bond yields tanked Energy stocks XLE NYSE XLE were the weakest major sector dragged down by the big drop in oil prices Stocks on the Move Verizon NYSE VZ managed to buck the broader weakness and gain about 0 5 after reporting strong Q2 earnings Yum Brands YUM 4 reported better than expected declines in earnings and revenue
General Electric s GE CFO is stepping down after less than 2 years prompting the stock to fall 4 on the day |
VZ | What To Expect From VZ Stock After Verizon s Q2 Earnings Beat | Verizon NYSE VZ reported its Q2 earnings results before the market opened on Thursday August 1 Earnings beat expectations by a small amount and the stock is up 0 3 since the announcement Overall VZ stock has far underperformed the market YTD losing 1 4 compared to the industry s gain of 1 9 Below we ll take a look at how Q2 turned out and what investors should expect from Verizon in the future Q2 OverviewVerizon reported Q2 earnings of 1 23 per share which beat our 1 20 Zacks Consensus Estimate However the company slacked on revenues with its 32 07 billion slightly under the 32 4 billion estimate This marked a 1 6 pullback from Q2 last year Margins for the company increased in the second quarter over a year ago by almost a percent to 37 7 The company reported strong growth in its wireless service revenue but said it was offset by decreases in wireless equipment and legacy wireline services Wireless customer revenue popped 2 5 as more customers migrated to higher tier plans VZ added 73 000 net phones during the quarter compared to just 17 000 for the same period last year On the business facing side Verizon s total operating revenues for the quarter decreased by 1 1 This was primarily due to new growth in wireless services and fiber products being offset by pressure from legacy technologies Future OutlookEarnings estimates for Q3 show a roughly similar landscape with 1 22 per share predicted This would mark no change from the prior year quarter Full year estimates show a slight increase from last year of just 0 85 In the earnings report Verizon s CFO stated that he expects overall wireless service revenue growth to be in the 2 3 range There are however some accounting headwinds that will likely prevent this from showing up on the balance sheet Revenue for this quarter is projected to increase 0 72 to 32 84 billion Full year revenue is supposed to increase by the same percentage over last year to 131 83 billion Verizon is likely showing this snail s pace growth as older technologies and loses in wireline services drag on wireless customer profits Verizon is also tying up a lot of capital in its new 5G Ultra Wideband network The firm is trying to play catch up after rival AT T NYSE T got the jump on starting to build out wireless 5G At the end of fiscal 2018 Verizon said that it would likely spend between 17 and 18 billion in capital expenditures during 2019 It is likely that a large portion of this will go to building out 5G capabilities as it is essentially a race between VZ and AT T who control roughly 30 35 of the market each Bottom LineVerizon shares have not moved much this year never reaching a price more than 5 in either direction from VZ s starting price 12 months ago The firm s recent earnings report doesn t tell us much on the surface with the numbers only marginally different from a year earlier Predictions for this quarter are similarly bland Investors must remember that this is because Verizon is investing like crazy to build out 5G so that it can challenge powerhouse AT T or at least put up enough of a fight to retain its market share 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 | Vodafone TPG to merge Australian operations | Vodafone LON VOD VOD 4 is combining its Australian operation with rival TPG Telecom OTC TPPTY into a new entity valued about A 7 5B That will make it a bigger challenger to incumbent firms Telstra TLSYY 1 8 and Optus Vodafone Hutchison Australia will merge with TPG s operations but the new entity will keep TPG s name and listing on the Australian Securities Exchange and there won t be changes to either company s existing brands TPG will hold 49 9 of the new entity while Vodafone and Hutchison CKHUY 1 7 will hold 25 05 each Current TPG CEO David Teoh will become chairman of the new company while VHA chief I aki Berroeta will serve as CEO Previously Vodafone 2 9 as BofAML drops to Neutral stance on headwinds Aug 30 2018 Now read |
WMB | MLB notebook Sabathia retiring after 2019 season | New York Yankees pitcher CC Sabathia a Cy Young Award winner and the major league s active leader in strikeouts and innings pitched confirmed Saturday this will be his final season Sabathia made the announcement at a press conference from the Yankees spring training facility in Tampa Fla All I ever wanted for people to remember me as is just as a good teammate said Sabathia who won the American League Cy Young Award in 2007 I look forward to 2019 being a championship season for us me going out and giving everything I have Sabathia 38 has a 246 153 record in 18 seasons the past 10 with the Yankees He is on the verge of becoming the 17th pitcher in major league history to reach 3 000 strikeouts entering the season with 2 986 in 3 470 innings He would be just the third left hander to reach the 3 000 strikeout milestone joining Randy Johnson and Steve Carlton Among the most promising prospects at spring training with the St Louis Cardinals left hander Genesis Cabrera is already getting high marks as a player to watch in 2019 Before reporting to his first big league camp at Jupiter Fla the 22 year old showed what he can do as a reliever in the Dominican Winter League In 14 1 3 innings he posted a 1 26 ERA with 21 strikeouts and only two walks Cabrera impressed scouts and Cardinals manager Mike Shildt Caught my attention Shildt said Caught our attention Some people in the industry who I respect quite a bit covering winter ball texted me saying This guy is pretty good The Baltimore Orioles signed veteran shortstop Alcides Escobar to a minor league contract with an invitation to spring training the team announced He gives the Orioles some middle infield depth as well as dependability He played all 162 games in three of the past five seasons and played 155 or more games six times during eight seasons with the Kansas City Royals Escobar 32 batted 231 with four home runs and 34 RBIs in 140 games for Kansas City last year He has a 258 career average with 41 homers 442 RBIs and 174 steals in 1 437 games with the Milwaukee Brewers and Royals Reliever John Axford will join the Toronto Blue Jays in spring training on a minor league deal the team announced If he makes the big league squad he ll earn 1 65 million Axford 35 was with Toronto for part of last season but was traded to the Los Angeles Dodgers in July He was 4 1 with 50 strikeouts in 51 innings with the Blue Jays A 10 year veteran Axford has pitched for eight teams and logged a 38 34 record with 144 saves and a 3 87 ERA Free agent outfielder Cameron Maybin has agreed to a minor league deal with the San Francisco Giants and is heading to spring training as a non roster invitee according to multiple reports During a 12 year career in the majors Maybin 31 has played for seven franchises most recently the Miami Marlins and Seattle Mariners in 2018 He hit 249 for the season with four home runs 14 doubles and 28 RBIs in 129 games Over his career which included a stint with the World Series champion Houston Astros in 2017 Maybin has hit 254 with 60 home runs 315 RBIs and 174 stolen bases Right hander Jameson Taillon will be Pittsburgh s Opening Day starter Pirates manager Clint Hurdle announced The March 28 outing against the Reds in Cincinnati will mark the 27 year old s first season opening assignment Taillon went 14 10 with a 3 20 ERA in 32 starts last season
Hurdle said that Taillon will be followed by right handers Trevor Williams NYSE WMB and Joe Musgrove Veteran right hander Chris Archer will start Pittsburgh s home opener on April 1 against the St Louis Cardinals Field Level Media |
WMB | Top 25 roundup No 5 Kentucky takes down No 1 Tennessee | PJ Washington scored 23 points Keldon Johnson added 19 and No 5 Kentucky flexed its muscles in taking down No 1 Tennessee 86 69 in a Southeastern Conference showdown Saturday night in Lexington Ky The Wildcats 21 4 10 2 SEC had a plus 13 rebounding edge and 16 more points in the paint while ending the Volunteers school record 19 game winning streak Tennessee 23 2 11 1 dropped into a tie for first in the SEC with No 19 LSU Johnson made 3 of 6 3 point shots and scored 11 consecutive Kentucky points in the first half Freshman Tyler Herro posted his first double double with 15 points and 13 rebounds for the Wildcats Jordan Bone led Tennessee with 19 points Admiral Schofield scored 17 points Grant Williams NYSE WMB had 16 points and eight rebounds but the physical Kentucky defense limited him to four shots from the field No 2 Duke 94 North Carolina State 78 Zion Williamson scored 32 points and RJ Barrett posted a triple double as the Blue Devils fended off the visiting Wolfpack in Durham N C Barrett contributed 23 points 11 rebounds and 10 assists without a turnover as the Blue Devils followed their comeback win at Louisville with a more comfortable result He is the fourth Duke player to register a triple double and the first since Shelden Williams in January 2006 First place Duke 23 2 11 1 Atlantic Coast Conference enters Wednesday night s clash with second place North Carolina on a nine game winning streak Torin Dorn 17 points Markell Johnson 16 and C J Bryce 13 paced NC State 18 8 6 7 which had a two game winning streak snapped No 3 Gonzaga 79 San Diego 67 Rui Hachimura recorded 22 points and 10 rebounds to help the Bulldogs claim their 16th straight victory a win over the host Toreros Zach Norvell Jr scored 18 points and Josh Perkins added 15 points and nine assists as Gonzaga 25 2 12 0 West Coast Conference won its 30th consecutive league road game The Bulldogs winning streak is now the longest in the country after top ranked Tennessee s defeat Isaiah Pineiro scored 18 of his 20 points in the second half for San Diego 16 11 5 7 which has lost three straight No 4 Virginia 60 Notre Dame 54 The Cavaliers fought off an upset effort from the Fighting Irish sinking six consecutive free throws late for a win in Atlantic Coast Conference action in Charlottesville Va Notre Dame cut a 10 point deficit with less than five minutes left to 54 52 with 30 seconds remaining on a layup by Nate Laszewski Virginia then hit its six foul shots including four from junior Kyle Guy on his way to a team high 22 points Virginia s De Andre Hunter recorded his second double double of the season with 20 points and 10 rebounds Despite shooting just 34 5 percent Notre Dame 13 12 3 9 stayed in the game behind T J Gibbs 17 points No 6 Michigan 65 No 24 Maryland 52 Charles Matthews had 14 points and six rebounds freshman Ignas Brazdeikis scored 13 and the Wolverines defeated the Terrapins in Ann Arbor Mich Zavier Simpson contributed 12 points and eight assists for the Wolverines 23 3 12 3 Big Ten who bounced back from a road loss to last place Penn State The Wolverines never trailed as they forced 16 turnovers and held the Terrapins to 36 4 percent shooting Maryland 19 7 10 5 was led by Aaron Wiggins who had 15 points six rebounds and three assists Bruno Fernando supplied 12 points and eight rebounds and Anthony Cowan Jr chipped in 10 points No 7 Nevada 82 Wyoming 49 Trey Porter scored 14 points and Jordan Caroline and Caleb Martin each added 13 points as the Wolf Pack cruised to a victory over the Cowboys in Laramie Wyo Jazz Johnson scored 12 points hitting 4 of 5 3 point attempts and Tre Shawn Thurman finished with 11 points and 12 rebounds for the Wolf Pack 24 1 11 1 Mountain West Nevada earned its 10th consecutive win by shooting 54 4 percent from the floor Justin James who came into the contest leading the Mountain West with an average of 20 9 points per game scored a game high 16 points to go with seven rebounds and four assists for Wyoming 6 19 2 10 No 8 North Carolina 95 Wake Forest 57 Cameron Johnson scored 14 of his season high 27 points in the first half as the visiting Tar Heels opened a huge early lead in a victory against the Demon Deacons in Winston Salem N C North Carolina which scored the game s first 18 points shot 74 1 percent in the first half hitting 9 of 12 shots from 3 point range The Tar Heels 20 5 10 2 Atlantic Coast Conference who bounced back from a home loss to fourth ranked Virginia on Monday night also received 10 points each from Coby White and Luke Maye Jaylen Hoard scored 17 points for Wake Forest 9 15 2 10 which is guaranteed a losing ACC record It was the largest margin of defeat ever for the Demon Deacons against the Tar Heels No 12 Purdue 76 Penn State 64 Carsen Edwards scored 21 points and Matt Haarms contributed 18 to propel the Boilermakers past the Nittany Lions in Big Ten action in West Lafayette Ind Edwards made 6 of 12 shots including 3 of 6 3 pointers and all six free throws Haarms sank 5 of 7 shots including one 3 pointer and 7 of 10 free throws Lamar Stevens scored 18 points for Penn State 9 16 2 12 while Rasir Bolton added 17 points on 6 of 11 shooting and Myles Dread chipped in 10 No 14 Kansas 78 West Virginia 53 Five players scored in double figures as the Jayhawks established a 27 point halftime lead and cruised to a Big 12 Conference win over the outmatched short handed Mountaineers in Lawrence Kan Devon Dotson totaled 15 points eight assists and five rebounds for the Jayhawks 20 6 9 4 while K J Lawson also scored 15 points Dedric Lawson added 14 while Ochai Agbaji and David McCormack each scored 10 points Lamont West and Chase Harler each scored 11 points for the Mountaineers 10 15 2 10 who fielded just nine scholarship players seven in their first season Coach Bob Huggins dismissed starting forwards Esa Ahmad and Wesley Harris on Monday night while starting center Sagaba Konate knee missed his 17th straight game and guard James Bolden also sat out with an injury No 15 Texas Tech 86 Baylor 61 Known for their defensive prowess the host Red Raiders showed some marksmanship as well hitting 12 3 pointers to slam the undermanned Bears in their Big 12 rematch in Lubbock Texas Jarrett Culver shot only 4 of 11 from the floor but hit three 3 pointers all in the final 4 11 of the first half on his way to a game high 18 points and Davide Moretti hit 4 of 8 treys in scoring 17 points as the Red Raiders 21 5 9 4 Big 12 pulled away from the Bears 16 9 7 5 before the break Jared Butler scored 16 points including going 4 of 5 on 3 pointers to lead Baylor which scored a home win over Texas Tech 73 62 on Jan 19 in Waco Texas Mario Kegler added 15 points including 3 of 6 from long range No 16 Louisville 56 Clemson 55 Senior point guard Christen Cunningham scored 16 of his 18 points in the second half and added five assists to lead the Cardinals to a victory over the visiting Tigers in Atlantic Coast Conference play Sophomore Jordan Nwora added 11 points and three steals as the Cardinals 18 8 9 4 won for just the second time in the past five games Louisville rebounded from a 71 69 loss to Duke a contest it led by 23 midway through the second half before collapsing Senior forward Elijah Thomas recorded 15 points and seven rebounds and senior guard Marcquise Reed had 13 points on just 5 of 18 shooting while collecting 12 rebounds for Clemson 15 10 5 7 Senior guard Shelton Mitchell added 12 points for the Tigers who dropped their second straight game No 17 Florida State 69 Georgia Tech 47 Center Christ Koumadje posted a second consecutive double double and the Seminoles tied a school record with their seventh consecutive ACC win by beating the Yellow Jackets in Atlanta Koumadje a thin 7 foot 4 senior had 10 points on 5 for 7 shooting His 12 rebounds matched the career high he set against Wake Forest three days earlier when he posted his first career double double The Seminoles 20 5 8 4 ACC had a balanced attack that was led by metro Atlanta native Devin Vassell who scored 11 points and M J Walker and David Nichols with nine apiece Georgia Tech 11 15 3 10 ACC lost for the seventh straight time and has dropped nine of its last 11 games The Yellow Jackets failed to score 50 points for the third time in five games No 23 Iowa State 78 No 18 Kansas State 64 The Cyclones kept their Big 12 title hopes alive with a victory over the Wildcats in Manhattan Kan The Cyclones are now just a game behind Kansas State and a half game behind Texas Tech and Kansas in conference play The loss was costly for the Wildcats 19 6 9 3 Big 12 beyond the standings With Kansas State trailing 55 50 midway through the second half Dean Wade hobbled to the bench with an apparent injury in his lower right leg Wade the preseason Big 12 Conference Player of the Year missed six games earlier this season with a torn tendon in his right foot and also missed most of last season s Elite Eight run by the Wildcats Iowa State 19 6 8 4 was led by Lindell Wigginton with 23 points Talen Horton Tucker had 20 mostly from long range as he hit 6 of 9 3 point attempts Kansas State was led by Barry Brown with 23 points No 19 LSU 83 Georgia 79 Tremont Waters scored 16 of his game high 20 points in the first half and freshman Ja vonte Smart added 19 points to lift the Tigers over Georgia in Southeastern Conference play in Athens Ga LSU 21 4 11 1 SEC which has won 14 of its last 15 games used an 8 2 run to extend a 72 71 lead to 80 73 with 3 19 left Waters was the key to the surge with two assists for a dunk and a layup and added a layup of his own Waters finished with a game high five assists Georgia 10 15 1 11 still had a chance trailing 82 79 after Derek Ogbeide made two free throws with 53 seconds left When LSU s Naz Reid missed a shot on the other end the Bulldogs worked the ball inside to leading scorer Nicolas Claxton 17 points who missed in the lane No 21 Iowa 71 Rutgers 69 Joe Wieskamp banked in a 3 pointer just before the buzzer as the Hawkeyes recorded a dramatic victory over the host Scarlet Knights in Piscataway N J Iowa s Connor McCaffery inbounding the ball under the opposite basket with 3 3 seconds left threw a baseball pass three quarters of the court Rutgers Ron Harper Jr deflected the ball which wound up going to Wieskamp positioned in the right corner in front of Iowa s bench Wieskamp released a high arching 3 pointer as Rutgers forward Shaquille Doorson raced over to defend After the shot was released the ball nicked the backboard before going in Officials reviewed the shot to put two tenths of a second back on the clock and the game ended when Rutgers desperation pass was broken up No 22 Virginia Tech 70 Pittsburgh 64 Kerry Blackshear Jr made three 3 pointers and scored a season high 29 points for the visiting Hokies who extended the Panthers losing streak to nine games with an Atlantic Coast Conference victory It was the third victory for the Hokies 20 5 9 4 ACC in the five games that they have been without point guard Justin Robinson Blackshear was over halfway to his career high 31 points when he had 16 of Virginia Tech s 31 first half points
Xavier Johnson led the Panthers 12 14 2 11 with 18 points Field Level Media |
WMB | NHL roundup Allen s shutout lifts Blues to ninth straight win | Jake Allen made 32 saves for his second shutout of the season Vladimir Tarasenko and Zach Sanford scored 57 seconds apart and the St Louis Blues beat the Colorado Avalanche 3 0 on Saturday in Denver Tarasenko added an assist and Jaden Schwartz also scored to help the Blues to their ninth straight win It s the club s longest winning streak since a nine game run from Oct 15 Nov 5 2002 Semyon Varlamov stopped 30 shots as Colorado lost for the ninth time in 10 games The Avalanche have dropped six straight at home Allen who made just his second start since Jan 17 backstopped St Louis to its second straight shutout win The Blues have not allowed a goal in 127 minutes 14 seconds Lightning 3 Canadiens 0 Nikita Kucherov had a goal and an assist and Andrei Vasilevskiy broke the franchise record for career shutouts as host Tampa Bay extended its point streak to nine games 7 0 2 by blanking Montreal Yanni Gourde and Tyler Johnson also scored for the Lightning who have a league leading 92 points and extended their winning streak to five games Tampa Bay has outscored its opponents 25 9 during the streak Vasilevskiy stopped all 20 shots he faced for his sixth shutout of the season and the 18th of his career surpassing Ben Bishop for the franchise record Vasilevskiy has five shutouts in his past 14 starts including shutouts in each of his past two contests Islanders 5 Oilers 2 Ryan Pulock Valtteri Filppula Mathew Barzal Anders Lee and Brock Nelson scored for New York which beat Edmonton in the Islanders final regular season game at Barclays LON BARC Center in Brooklyn The Metropolitan Division leading Islanders have won five of six The Oilers have lost four straight and 10 of 11 1 8 2 Robin Lehner made 34 saves for the Islanders who will play their final 12 regular season games and any first round home playoff games at Nassau Coliseum on Long Island Beyond that all subsequent home games will be played at Barclays Center where New York is 12 6 2 this season Golden Knights 5 Predators 1 Max Pacioretty scored two goals and Malcolm Subban made 29 saves as Vegas snapped a franchise record five game home losing streak by beating Nashville in Las Vegas It was the fourth two goal game of the season for Pacioretty Oscar Lindberg had a goal and an assist and Brandon Pirri and Shea Theodore also scored goals for Vegas which won at home for the first time since Jan 19 when it defeated Pittsburgh 7 3 Kevin Fiala scored a goal for Nashville which took its fourth loss in five games and was outshot 50 30 Coyotes 2 Maple Leafs 0 Darcy Kuemper earned his second shutout of the season and Alex Galchenyuk and Josh Archibald scored second period goals as Arizona defeated Toronto in Glendale Ariz Kuemper stopped 21 shots in picking up his 13th career shutout as the Coyotes won both games between the teams this season The Coyotes are 14 3 1 in the past 18 meetings between the teams Frederik Andersen made 27 saves for the Maple Leafs who are 3 2 0 with one game left on a six game trip Sharks 3 Canucks 2 Joe Pavelski scored the go ahead goal in the third period and goalie Martin Jones beat his hometown team for the second time in a week as host San Jose defeated Vancouver Pavelski Timo Meier and Logan Couture all registered a goal and an assist for the Sharks who have won seven of eight Jones made 32 saves to improve to 9 1 1 against the Canucks in his career Antoine Roussel and Brock Boeser tallied for Vancouver which is 3 5 1 since the All Star break and Loui Eriksson played in his 900th NHL game Jacob Markstrom stopped 23 shots Blue Jackets 5 Blackhawks 2 Artemi Panarin recorded two goals and an assist as Columbus won for the fifth time in its past six games in defeating host Chicago Ryan Murray recorded three assists for the Blue Jackets giving the defenseman the first three point game of his six year NHL career Pierre Luc Dubois Cam Atkinson and Josh Anderson also scored for Columbus which got 39 saves from Sergei Bobrovsky Patrick Kane had a goal and an assist for Chicago and Jonathan Toews added a goal Kane has recorded at least one point in each of his past 17 games 13 goals 24 assists tying Florida s Mike Hoffman for the longest point streak in the NHL this season It was also Kane s 16th straight game with an assist tying Jaromir Jagr for the sixth longest assist streak in NHL history Flames 5 Penguins 4 Calgary got points from 12 players and broke a four game losing streak by edging host Pittsburgh Andrew Mangiapane Michael Frolik Austin Czarnik Travis Hamonic and Sam Bennett scored and Derek Ryan had three assists for Calgary which held on after taking a 5 2 lead through two periods Mike Smith stopped 34 of 38 Pittsburgh shots Evgeni Malkin had two goals and an assist Sidney Crosby a goal and two assists and Jake Guentzel also scored for the Penguins who had won two straight Pittsburgh s Phil Kessel had two assists the first making him the 17th American player to reach 800 points Hurricanes 3 Stars 0 Petr Mrazek tallied 33 saves and provided his second shutout this month as Carolina won its third straight blanking Dallas in Raleigh N C Justin Williams NYSE WMB and Brock McGinn scored in the first period for the Hurricanes who are 16 5 1 in their past 22 games Micheal Ferland provided the final goal in the third period The Hurricanes won on back to back nights with one game remaining in a three game homestand Stars goalie Anton Khudobin stopped 24 shots Senators 4 Jets 3 OT Ryan Dzingel scored 3 44 into overtime as Ottawa completed a season sweep of host Winnipeg Dzingel received a saucer pass from Chris Tierney before beating Laurent Brossoit to lift the Senators who posted a 5 2 win over the Jets on Feb 9 Winnipeg native Mark Stone netted his career high 27th goal for Ottawa by scoring for the third time in two games against his hometown team Matt Duchene joined Stone and Dzingel with a goal and an assist Rudolfs Balcers also tallied on the power play and Anders Nilsson finished with 23 saves Tyler Myers scored twice and Brandon Tanev collected a goal and an assist for the Jets who have dropped five of their past seven games Brossoit turned aside 37 shots en route to losing his third consecutive game Flyers 6 Red Wings 5 OT Travis Konecny scored his second goal of the game 1 27 into overtime and host Philadelphia pulled out the win over Detroit after giving away a four goal lead in the third period Nolan Patrick had a goal and two assists for Philadelphia which led 5 1 early in the third Shayne Gostisbehere Scott Laughton and Jakub Voracek also scored for the Flyers Anthony Mantha scored twice for Detroit including the tying goal in the closing seconds of regulation Gustav Nyquist Tyler Bertuzzi and Thomas Vanek had the other goals for the Red Wings Bruins 4 Kings 2 Tuukka Rask made 23 saves to improve to 11 0 2 in his past 13 starts and Boston won its fifth straight game beating host Los Angeles Jake DeBrusk and Patrice Bergeron each had a goal and an assist David Krejci had two assists and Charlie McAvoy and Brad Marchand also scored for the Bruins who moved ahead of the Maple Leafs for second place in the Atlantic Division
Ilya Kovalchuk and Alex Iafallo scored for the Kings who missed an opportunity to move out of last place in the Western Conference Los Angeles goalie Jonathan Quick was a late scratch because of an illness and Jack Campbell made 20 saves in his place Field Level Media |
WMB | Split with Bajin not over money Osaka | Reuters World number one Naomi Osaka was adamant that her shock split with coach Sascha Bajin had nothing to do with money but it was because she was determined that her career would not be about putting success over happiness The German had guided the Japanese player to back to back Grand Slam titles as well as to the summit of the WTA rankings But just two weeks after her triumph at Melbourne Park Osaka abruptly severed ties with Bajin That led to suggestions the two had fallen out over money Everyone thinks it was a money related issue but it wasn t the U S and Australian Open champion told the WTA in Dubai That s one of the most hurtful things I ve ever heard I travel with everyone on my team I see them more than my family I would never do that to them My reason is I wouldn t put success over my happiness that s my main thing I m not going to sacrifice that just to keep a person around Bajin a former hitting partner of Serena Williams NYSE WMB Victoria Azarenka and Caroline Wozniacki was named as the WTA s coach of the year in 2018 after his success with Osaka During their time together Osaka rocketed from 72 in the world at the start of 2018 to number one last month Osaka said it was clear things were not right between them during the season s opening major It was kind of brewing in Australia I think some people could see that if they saw how we interacted the 21 year old added I would not want to split on really bad terms I m not going to say anything bad about him because of course I m really grateful for all the things he s done During the Australian Open I was just trying to tell myself to get through it I m not sure but I think you guys noticed Osaka said she hopes to have a new coach in place by March at Indian Wells It s not really ideal to go to Indian Wells without a coach I don t want someone that s in the box saying negative stuff That would be the worst she said
I want someone that s kind of direct not afraid to say things to my face I d rather someone say it directly to me than go around my back That s one of the biggest things |
WMB | Israeli cyber hotline offers help for the hacked | By Dan Williams NYSE WMB BEERSHEBA Israel Reuters Israel has launched a cyber hotline staffed mostly by veterans of military computing units to enable businesses and private individuals to report suspected hacking and receive real time solutions The 119 call in number to the Computer Emergency Response Centre CERT is being billed by Israel and cyber experts as a world first Our job is to mitigate the damage as quickly as possible to learn about the threats and to spread the knowledge where relevant CERT director Lavy Shtokhamer told Reuters at the facility in the southern hi tech hub city of Beersheba A cyber attack may not be limited only to property or financial damage It can also threaten lives In some cases Shtokhamer said CERT will dispatch teams of experts to affected computer users at a few hours notice At the center 20 responder terminals face a bank of huge screens one of which shows a world map with cyber attacks rendered as meteor like strikes on Israel and the country of origin of computer servers used by the hackers When Reuters viewed the facility these were in the northeastern United States western Europe and Indonesia details Shtokhamer played down given hackers use of proxy servers to mask their true locations He declined to elaborate on this Ahead of Israel s April 9 election its officials have been reticent about the possibility of online influence campaigns of the kind Russia has been accused of waging in the West or about Chinese cyber espionage Israeli cyber expertise is also widely believed to have been used in sabotage against Iran s nuclear program and controversial surveillance software made available to foreign clients Since its launch three weeks ago the hotline has received around 100 calls daily Shtokhamer said Most complainants he said have been victims of cyber criminals rather than nation states and less than one percent were hoax reports Around 15 percent of callers have been so called white hackers sleuths who find vulnerabilities in corporate or government systems and want them plugged before they can be hit CERT also runs a chat room that links up the technology officers of Israel s major firms for candid but discreet information sharing about data breaches Michael Levi a Cardiff University criminology professor who has advised EU and U N agencies on cyber security described the Israeli hotline as unique and said it could catch on elsewhere
The keys are good advice and no leaks and using patterns to build up good threat assessments and rapid responses he said The earlier you get reports the more you can prevent |
WMB | European stocks hold onto four month highs as trade talks progress | By Helen Reid LONDON Reuters Fresh from touching their highest level in four months on Friday European stocks stalled on Monday as investors cashed in their gains ahead of further U S China trade talks in Washington this week The STOXX 600 hovered around flat by 0950 GMT steadying at its highest level since Oct 10 as company results on the whole looked good but falls in autos stocks limited gains French car parts maker Faurecia climbed 1 9 percent after saying it hoped to outperform the market this year and reported margin expansion though it warned of negative auto production growth in general 2019 guidance is more cautious on growth but resilient margins and FCF should limit any downgrades said Jefferies analysts Faurecia s gain bucked the trend in the autos sector which fell 0 7 percent lagging the market after data showed car sales in China fell for a seventh straight month Investors in the auto sector were also on tenterhooks after the U S Commerce Department sent its report on national security and car imports to President Trump setting the stage for possible tariffs Leading the market Wirecard shares jumped 12 2 percent after German market regulator BaFin banned the establishment or increase of short positions in the stock I am in two minds as to how much volatility will be removed said Mark Taylor sales trader at Mirabaud Securities The next few days will tell if longs are still looking for levels to sell and won t feel they re battling with shorts And of course any existing shorts are now limited in their actions UK listed consumer goods firm Reckitt Benckiser provided the biggest boost to the market up 4 percent after reporting higher than expected Q4 sales growth helped by improvements in both its health and home and hygiene businesses Chipmaker AMS rose 3 1 percent after an article https by Barrons saying the company is trying to diversify away from the slowing iPhone segment into other consumer areas and industrial applications The bank index inched up 0 2 percent having risen sharply on Friday after European Central Bank board member Benoit Coeure said a new round of cheap multi year loans to banks was possible That big reaction showed how desperate equity investors are for central banks to do something to help Ian Williams NYSE WMB strategist at Peel Hunt said In other negative moves Casino shares fell 2 3 percent after Deutsche Bank DE DBKGn cut its rating to hold from buy Overall analysts have been increasingly downbeat about earnings potential in Europe and globally as macroeconomic data continued to disappoint Looking at where global risks are it seems the euro zone is more dangerous than China or the US in terms of what you should be worrying about It s been where macro surprises have been more dramatic said Peel Hunt s Williams
Analysts have slashed their estimates for 2019 earnings growth for MSCI Europe from 9 5 percent in early November to 6 5 percent now |
WMB | Poland pulls out of Israel summit in row over WW2 role | By Alan Charlish and Dan Williams NYSE WMB WARSAW JERUSALEM Reuters Poland pulled out of a planned summit in Israel after Israel s acting foreign minister said on Monday that many Poles had collaborated with the Nazis in World War Two and shared responsibility for the Holocaust Polish Prime Minister Mateusz Morawiecki branded the remarks racist and unacceptable He had previously said he would not join Tuesday s gathering of central European leaders in Israel sending instead a lower level delegation but said on Monday that no Polish officials would now attend Not only can we not accept such racist comments but with all our strength we want to stress that we will fight for historical truth for the honor of Poles he told reporters The leaders of the other three Visegrad Group nations Hungary the Czech Republic and Slovakia all still planned to attend the talks Israel said but Czech Prime Minister Andrej Babis said they would instead consist of bilateral discussions and that the summit would be rescheduled for later in 2019 Poland s right wing Law and Justice PiS government has made what it sees as the defense of national honor over its wartime record a cornerstone of foreign policy since taking power in 2015 Many Poles refuse to accept research showing thousands of their countrymen participated in the Holocaust in addition to thousands of others who risked their lives to help the Jews They say Warsaw s Western allies have also failed to acknowledge the scale of Poland s own suffering under wartime occupation The diplomatic row between Poland and Israel has been escalating since Friday when Israeli media reported remarks by Prime Minister Benjamin Netanyahu on Friday suggesting Polish complicity in the Holocaust Israel s Acting Foreign Minister Israel Katz exacerbated the dispute on Monday when he told Israel s Army Radio Many Poles collaborated with the Nazis and took part in the destruction of the Jews during the Holocaust Katz also quoted comments attributed to Israel s late prime minister Yitzhak Shamir Shamir said that every Pole suckled anti Semitism with his mother s milk Nobody will tell us how to express our stance and how to honor the dead DIPLOMATIC SETBACK The Polish decision is a blow for Netanyahu who had hoped the Visegrad summit would burnish his diplomatic credentials ahead of Israel s April 9 election He sees the Visegrad 4 as a counterbalance to western European countries which tend to be more critical of Israel s policies toward the Palestinians But Netanyahu has also faced criticism in Israel over what some see as a bid to win allies in central Europe at the expense of revising Holocaust history and whitewashing anti Semitism There will be no full V4 meeting Three PMs are arriving will hold meetings with Israel s PM Emmanuel Nahshon spokesman for Israel s Foreign Ministry said in a text message The dispute also harms Poland s ambitions to lead the V4 and give the region a bigger international voice though many PiS voters will welcome Morawiecki s decision PiS leads opinion polls ahead of a national election due in the autumn Morawiecki had to call off the summit after the affront from Netanyahu because otherwise he would appear too soft said Piotr Buras head of the Warsaw office of the think tank ECFR Before World War Two Poland was home to one of the world s biggest Jewish communities but it was almost entirely wiped out by the Nazis who set up camps such as Auschwitz on Polish soil Tensions between Israel and Poland also rose last year after Poland introduced new legislation that would have made the use of phrases such as Polish death camps punishable by up to three years in prison
After pressure from the United States and an outcry in Israel Poland watered down the legislation scrapping the prison sentences Reporting in Warsaw by Marcin Goclowski Anna Koper Joanna Plucinska and Alan Charlish and in Jerusalem by Dan Williams and Jeffrey Heller additional reporting by Jan Lopatka in Prague and Gergely Szakacs in Budapest Editing by Gareth Jones |
WMB | Serena climbs back to Top 10 in WTA rankings | Serena Williams NYSE WMB has made her way back to the Top 10 in the WTA rankings for the first time since the birth of her daughter in September 2017 Williams is No 10 in the latest rankings released Monday Japan s Naomi Osaka remained No 1 Simona Halep of Romania and Sloane Stephens each moved up a spot to Nos 2 and 3 respectively Williams a 23 time Grand Slam champion is next scheduled to play in the BNP Paribas PA BNPP Open in Indian Wells Calif in March the same tournament that marked her return to the tour last spring The 37 year old has not played since the Australian Open last month which she exited in the quarterfinals
Williams first appeared in the Top 10 on April 5 1999 This is her 793rd career week in the Top 10 Field Level Media |
VZ | Sprint T Mobile in early stages of regulatory review no decisions yet source | WASHINGTON Reuters U S antitrust enforcers are in the early stages of reviewing T Mobile US Inc s O TMUS plan to buy Sprint Corp N S for 26 billion and have reached no conclusions on how many wireless carriers the country needs a source familiar with the situation said on Monday Sprint shares were up 8 7 percent at 6 11 and T Mobile rose 6 7 percent to 65 65 in late afternoon trading after the New York Post reported that U S regulators believed that just three national providers were needed removing an obstacle to the deal The two companies compete against AT T N T and Verizon N VZ to provide U S wireless service The source requesting anonymity because he was not authorized to speak on the record said at least three carriers were needed and that the report s assertion that regulators have decided on just three carriers was not entirely accurate The Justice Department did not immediately respond to a request for comment T Mobile and Sprint declined to comment The deal announced in late April faces a review from the Justice Department and Federal Communications Commission that will likely last more than a year The two companies are the third and fourth largest U S wireless carriers respectively and have defended their deal by saying they need to merge to build the next generation of 5G wireless technology in a robust nationwide network
The Obama administration had taken at least twice to ensure that the United States had four wireless carriers The head of the U S Justice Department Antitrust Division Makan Delrahim has declined to endorse that and said in June I don t think there s any magical number that I m smart enough to glean |
VZ | Verizon should ditch Oath subsidiary | There are better corporate options for Verizon s NYSE VZ recently created media subsidiary called Oath which houses the acquisitions of faded tech brands AOL and Yahoo NASDAQ AABA according to former Yahoo CFO Ken Goldman Although Verizon management has resisted the idea he supports spinning off the units into a separate publicly traded company while retaining an 80 ownership stake You can give stock so you can motivate those employees Now read |
VZ | Verizon union workers approve new four year contract | By Sheila Dang Reuters The union that represents many Verizon Communications Inc N VZ employees announced the ratification of a four year extension of their labor contracts on Friday paving the way for an 11 2 percent increase in wages over the four years Verizon and the union workers agreed to the deal well in advance of the current contracts expiration in August 2019 seeking to avoid another conflict that prompted strikes in 2016 The new contracts which cover 34 000 employees in northeast and mid Atlantic regions served by the largest U S wireless network also include better retirement benefits the Communications Workers of America said in a statement Separate agreements were also approved to cover certain Verizon retail workers in New York and Pennsylvania the union said Verizon said in an email to employees that it was pleased that these agreements have been ratified
Employees represented by the International Brotherhood of Electrical Workers have not yet completed the ratification process but Verizon said in an email that it expects the process to be completed next week |
VZ | Union ratifies deal covering 34 000 Verizon workers | Verizon NYSE VZ and the Communications Workers of America have reached early ratification on a new labor deal covering 34 000 workers The current contract for the workers in northeast and mid Atlantic regions was set to expire in August 2019 A four year extension of the deal sets up an 11 2 increase in wages over the term of the deal as well as better retirement benefits The union says separate agreements cover certain retail workers in New York and Pennsylvania Still ahead ratification for employees covered by the IBEW Now read |
VZ | Sprint partners with LG to launch 5G smartphone in 2019 | By Sheila Dang Reuters Sprint Corp N S said Tuesday it has partnered with phone manufacturer LG Electronics Inc KS 066570 to launch a 5G smartphone in the first half of next year marking the first 5G device deal for the No 4 U S wireless carrier Sprint is working to persuade antitrust regulators to approve its merger with larger rival T Mobile US Inc O TMUS in a 26 billion deal which the companies say will help them more quickly build the next generation wireless network That network is expected to eventually pave the way for new technologies like autonomous cars The LG phone will be customized to Sprint s planned 5G network and will be compatible with T Mobile only on that carrier s existing 4G network John Tudhope Sprint director of product development said in an interview The price of the phone and exact launch date will be announced later Sprint said in a news release Last month Sprint introduced new unlimited wireless plans bundled with video streaming platform Hulu and music streaming service Tidal in an effort to attract more customers with media content Tudhope said Sprint will continue to use content as a way to bring to life the value of 5G as one of the benefits of the 5G network will be faster download times of video content on smartphones The company had previously announced it would initially launch its 5G network in nine cities in 2019 including New York City and Los Angeles
Sprint is the fourth largest cellphone service provider in terms of number of customers after Verizon Communications Inc N VZ AT T Inc N T and T Mobile |
VZ | Ericsson Samsung gain share in network gear as ZTE slumps | By Eric Auchard and Olof Swahnberg LONDON STOCKHOLM Reuters Ericsson BS ERICAs increased its share of the mobile networks market in the second quarter while Samsung Electronics KS 005930 jumped into fourth place data from industry research firm Dell Oro showed Ericsson the second biggest maker of radio access network RAN gear and Samsung benefited from rising U S demand as China s ZTE tumbled into fifth place after it was hit by U S sanctions in April The world s biggest network gear vendors No 1 ranked Huawei HWT UL Ericsson and third ranked Nokia HE NOKIA all increased their market share quarter on quarter partly because ZTE s sales plummeted from April onward Dell Oro analyst Stefan Pongratz said via email Ericsson was the only vendor of the top three that gained share he said adding the Swedish company s share of network gear revenues rose about one percentage point in the second quarter Dell Oro data on network equipment is generally accepted as a benchmark for market share rankings within the industry It declined to disclose actual revenue figures Mobile suppliers have struggled with declining growth since demand for 4G network gear peaked in 2015 but the industry is now preparing the first upgrades to next generation 5G networks starting later this year and on into 2019 in the United States The jockeying for market share takes on added importance as contract wins at network suppliers improve the chances for follow on network gear sales as 5G is set to go mainstream after 2020 promising to return network makers Ericsson and Nokia to revenue growth NORTH AMERICA BOOST Ericsson s recent boost came partly from it replacing ZTE as radio gear supplier to Italian mobile firm Wind Tre It also benefited from faster network upgrades in the North American market where it ranks as the biggest supplier ahead of Nokia Samsung is ranked third in North America and fourth worldwide Dell Oro said Network sales in North America rose by double digit percentages during the first half Dell Oro estimated From a small base Samsung s share of revenue in the North American region jumped three fold during the first half of 2018 Dell Oro said without disclosing specific figures This reflected Samsung s growing role supplying the biggest U S mobile operator Verizon NYSE VZ an upswing in spending at Sprint and capacity upgrades of existing gear in South Korea its home market Dell Oro said Samsung the world s biggest maker of semiconductors smartphones and consumer electronics is a late bloomer in networks where it hopes to use the transition to newer 5G gear to springboard into the top ranks of the industry Global leader Huawei the top supplier in China the world s biggest mobile market has enjoyed strong international momentum despite being virtually locked out of the United States and banned in Australia over national security concerns Huawei ranks fourth in North America based on deals in Canada and Mexico In mid July the U S Department of Commerce lifted a ban on U S companies selling goods to ZTE Corp HK 0763 allowing China s second largest telecommunications equipment maker to resume business in markets worldwide Both ZTE and Huawei continue to face sales restrictions in the United States
The more interesting question going forward will be if Samsung has gained enough momentum to maintain its No 4 position when ZTE shipments start ramping in the second half of 2018 Pongratz said |
WMB | Tennis Osaka splits with coach Bajin | Reuters Naomi Osaka winner of the past two grand slam tournaments has parted ways with her coach Sascha Bajin Osaka became world number one when she won the Australian Open last month after previously beating Serena Williams NYSE WMB in the U S Open final in September I will no longer be working together with Sascha tweeted the U S based Japanese 21 year old I thank him for his work and wish him all the best in the future Bajin replied to Osaka with a tweet of his own Thank you Naomi I wish you nothing but the best as well What a ride that was Thank you for letting me be part of this
Osaka hired Bajin in 2017 and enjoyed a meteoric rise during the time they worked together |
WMB | NBA roundup Westbrook sets consecutive triple double mark | Paul George had a 47 point triple double and Russell Westbrook set an NBA record for consecutive triple doubles as the Oklahoma City Thunder beat the visiting Portland Trail Blazers 120 111 on Monday night George s 3 pointer with 3 52 to play came on the 10th assist by Westbrook who clinched his 10th consecutive triple double Westbrook finished with 21 points 14 rebounds and 11 assists Wilt Chamberlain had nine consecutive triple doubles in 1968 George who contributed 12 rebounds and 10 assists has scored 92 points over the last two games The win was the fourth consecutive and 11th in 12 games for the Thunder The Trail Blazers took their third loss in four games despite getting 31 points from Damian Lillard Rockets 120 Mavericks 104 Hampered by a strained left shoulder James Harden nearly had his streak of consecutive 30 point games end before coming alive down the stretch as host Houston defeated Dallas Harden finished with a game high 31 points on 9 for 23 shooting and rounded out his stat line with eight rebounds seven assists and five steals The Rockets relied on a collective effort to build a lead against Dallas with four others scoring in double figures including guard Gerald Green who poured in 19 points in 22 minutes off the bench Luka Doncic posted 21 points 10 rebounds and eight assists to pace the Mavericks Cavaliers 107 Knicks 104 New York saw its late comeback bid fall short at Cleveland and took its 17th straight defeat the longest single season losing streak in franchise history The Knicks lost 16 straight during the 2014 15 season Kadeem Allen scored a career high 25 points off the bench for the Knicks who trailed wire to wire but had chances to tie the score or take the lead in the final minute Collin Sexton scored a team high 20 points for the Cavaliers while Larry Nance Jr registered 15 points and 16 rebounds Nuggets 103 Heat 87 Nikola Jokic had 23 points and 12 rebounds Malik Beasley got hot in the fourth quarter and finished with 23 points and host Denver beat Miami Monte Morris scored 17 points and Paul Millsap had nine points and 10 rebounds in his return to the lineup for the Nuggets who ended a three game losing streak Millsap played 20 minutes off the bench after missing the previous three games due to ankle soreness Justise Winslow had 15 points and James Johnson scored 14 for the Heat Bucks 112 Bulls 99 Giannis Antetokounmpo returned from a one game rest to score a game high 29 points leading Milwaukee to a victory at Chicago Antetokounmpo produced his fifth straight game with 29 or more points a stretch during which he has averaged 33 6 points per game Eric Bledsoe 19 points also helped the Bucks win their six straight on the road Zach LaVine had 27 points for the Bulls who lost their 11th consecutive home game Timberwolves 130 Clippers 120 Karl Anthony Towns had 24 points and 10 rebounds and Minnesota ended a four game losing streak with a win over Los Angeles in Minneapolis Minnesota s Derrick Rose returned after missing the past three games with an ankle injury and scored 22 points off the bench The Timberwolves Andrew Wiggins sat out due to an illness Lou Williams NYSE WMB scored a season high 45 points off the bench including 21 in the fourth quarter for the Clippers who went 3 3 on their six game road trip Raptors 127 Nets 125 Kawhi Leonard banked in the go ahead field goal with 4 2 seconds and he finished with 30 points and eight assists to help Toronto beat visiting Brooklyn Marc Gasol added 16 points 11 in the fourth quarter for the Raptors who have won five in a row Toronto s Serge Ibaka added 18 points and 12 rebounds D Angelo Russell had 28 points and 14 assists for the Nets Pistons 121 Wizards 112 Andre Drummond poured in 32 points one shy of his career high and host Detroit increased its winning streak to four games with a victory over Washington Drummond who is averaging 26 3 points during the streak also contributed 17 rebounds and four steals against Washington Blake Griffin tossed in 31 points with nine rebounds and nine assists for the Pistons and Reggie Jackson had 16 points Bradley Beal had 32 points and 10 assists to lead Washington Bobby Portis supplied 24 points off the bench hitting six 3 pointers and Trevor Ariza piled up 23 points seven rebounds and five assists Pacers 99 Hornets 90 Myles Turner led a balanced attack with 18 points and eight rebounds and the Indiana beat Charlotte in Indianapolis for its sixth straight win Wesley Matthews started for the Pacers after being signed on Sunday and he finished with eight points in 30 minutes hitting two key 3 pointers in the last four minutes of the game
Kemba Walker scored 34 points to lead the Hornets Walker has scored 30 or more in five straight games which ties a franchise record set by Glen Rice Field Level Media |
WMB | NHL roundup Lightning hammer sliding Flames | Nikita Kucherov the NHL s top point producer collected one goal and three assists to lead the host Tampa Bay Lightning to a 6 3 win over the Calgary Flames on Tuesday night Brayden Point collected one goal and two assists and goalie Andrei Vasilevskiy made 19 saves for the NHL leading Lightning who have won three straight games and are riding a 5 0 2 run Kucherov ran his point total to 84 Sean Monahan scored twice and Mark Giordano had a goal for Calgary Elias Lindholm was credited with three assists while Johnny Gaudreau collected two helpers David Rittich stopped 21 shots for the Flames who have lost three straight games and four of five outings 1 3 1 to drop out of the top spot in the Western Conference Bruins 6 Blackhawks 3 Brad Marchand had a goal and three assists David Krejci added two goals and an assist and Boston ripped visiting Chicago which had its seven game win streak snapped Jake DeBrusk and Danton Heinen each added a goal and two assists for the Bruins Peter Cehlarik had a goal and Patrice Bergeron contributed two assists Boston increased its point streak to eight games 5 0 3 and completed a regular season sweep of the Blackhawks Alex DeBrincat Duncan Keith and Erik Gustafsson scored for Chicago but goaltender Collin Delia gave up six goals on 37 shots Bruins goaltender Tuukka Rask made 23 saves Flyers 5 Wild 4 James van Riemsdyk scored twice including the go ahead goal on a power play with 4 29 left in the third period and Philadelphia rallied for a victory in Saint Paul Minn Van Riemsdyk who had a hat trick during a 7 4 win over Minnesota last month helped the Flyers bounce back after their 9 0 1 run ended with a 4 1 home loss to the Pittsburgh Penguins on Monday Desperate to move into playoff position in the Eastern Conference Philadelphia trailed 3 1 after one period but evened the score heading to the second intermission Jared Spurgeon goal two assists gave the Wild a 4 3 lead early in the final period before Claude Giroux tied the game and van Riemsdyk won it Coyotes 5 Golden Knights 2 Nick Cousins and Richard Panik each had a goal and an assist and Darcy Kuemper made 41 saves to lead Arizona to a win in Las Vegas Alex Galchenyuk Josh Archibald and Jordan Oesterle also scored goals for Arizona which moved within four points of the Wild for the second Western Conference wild card spot with its second straight win Derek Stepan added a pair of assists Nate Schmidt and Brandon Pirri scored for Vegas which tied its franchise record with its fourth straight home loss Marc Andre Fleury finished with 21 saves for the Golden Knights who have won just four times in their past 12 games Blue Jackets 3 Capitals 0 Anthony Duclair Nick Foligno and Artemi Panarin each scored once as Columbus defeated visiting Washington The Blue Jackets won with their defense against the Capitals who looked tired at times playing their second game in two nights while starting a six game road trip Columbus held a 32 20 edge in shots and goalie Sergei Bobrovsky made all 20 stops The Blue Jackets allowed only four shots in the first period and three more in the second holding a 24 7 edge in shots through two before the Capitals got some more pressure in a the third period Stars 3 Panthers 0 Florida had been the only team in the NHL not to be shut out this season but Dallas and backup goalie Anton Khudobin put an end to that in Sunrise Fla Tyler Seguin scored twice including an empty netter and Esa Lindell added one for the Stars who snapped a two game losing streak Seguin who also had an assist leads Dallas with 24 goals and 54 points Khudobin made 30 saves to earn his second shutout of the season He got help from a Dallas defense that ranks No 1 in the Western Conference and No 2 in the NHL in fewest goals allowed this season Panthers goalie Roberto Luongo made 16 saves Red Wings 3 Predators 2 Andreas Athanasiou scored the go ahead goal early in the third period and visiting Detroit ended a three game losing streak by edging Nashville Athanasiou notched his first goal since Jan 8 Luke Glendening had a goal and an assist and Dylan Larkin scored the other goal for Detroit Nick Jensen contributed two assists and Jimmy Howard made 32 saves Viktor Arvidsson scored his 17th goal in 22 games for Nashville which has dropped three straight P K Subban scored the other goal while Pekka Rinne made 24 saves Jets 4 Rangers 3 Andrew Copp scored the tiebreaking goal with 12 39 remaining in the third period as Winnipeg topped visiting New York Copp scored his third career game winning goal and second this season The Jets blew an early two goal lead but Copp s tally helped Winnipeg improve to 8 0 1 in its past nine home games He scored for the second straight game when Mason Appleton s pass through the high slot went under the skate of teammate Brendan Lemieux Copp gained possession and had plenty of time to lift a wrist shot over goalie Henrik Lundqvist from just in front of the right faceoff circle Sabers 3 Islanders 1 Jason Pominville scored the go ahead goal early in the second period for host Buffalo as goalie Linus Ullmark stifled New York with 24 saves Jeff Skinner and Johan Larsson also scored for the Sabres who have alternated wins with losses in their past five games With the victory Buffalo closed within two points of the Pittsburgh Penguins in the race for the final wild card spot in the Eastern Conference Casey Cizikas scored in the first period for the Metropolitan Division leading Islanders who had a three game winning streak snapped and lost for just the seventh time in the past 26 games 19 5 2 Goalie Robin Lehner who spent the previous three seasons with the Sabres recorded 19 saves Hurricanes 4 Senators 1 Teuvo Teravainen scored twice in a four goal third period for visiting Carolina and the Hurricanes ended up cruising past Ottawa Micheal Ferland and Justin Williams NYSE WMB had the first two goals in the final period for the Hurricanes Ferland supplied two assists and Williams also picked up an assist Williams gave the Hurricanes the lead with 12 31 to play on a power play Carolina goalie Curtis McElhinney made 25 saves Senators goalie Anders Nilsson stopped 33 shots Blues 8 Devils 3 Captain Alex Pietrangelo and Ivan Barbashev each collected two goals and an assist as host St Louis extended its season high winning streak to seven games with a rout of New Jersey Ryan O Reilly and Tyler Bozak each had a goal and an assist Jaden Schwartz scored to end a 22 game goal drought and Mackenzie MacEachern also tallied as the Blues recorded their most goals in a game since an 8 3 romp over the Edmonton Oilers on Nov 21 2017 St Louis Vladimir Tarasenko set up a pair of tallies to extend his point streak to a career high nine games seven goals seven assists and rookie Jordan Binnington finished with 20 saves New Jersey got goals from Pavel Zacha Kyle Palmieri and Mirco Mueller Maple Leafs 5 Avalanche 2 Kasperi Kapanen and Nazem Kadri had two goals apiece Auston Matthews also scored and Toronto beat Colorado in Denver Matthews and John Tavares had two assists each and Frederik Andersen stopped 34 shots to help the Maple Leafs win for the fifth time in the last six games Toronto stayed a point ahead of Boston for second place in the Atlantic Division with the win Alexander Kerfoot had a goal and an assist Ryan Graves scored and Samuel Girard had two assists for the Avalanche Semyon Varlamov allowed four goals on 17 shots before being replaced Backup goalie Philipp Grubauer had 10 saves for Colorado which lost its eighth game in a row Field Level Media |
WMB | Election may keep Moldova in gray zone between West and Russia | By Matthias Williams NYSE WMB CHISINAU Reuters An election in Moldova this month looks likely to produce a hung parliament entrenching a split between pro Western and pro Russian forces at a time when concerns over corruption and democracy have soured its relations with the European Union The EU forged a deal on closer trade and political ties with the tiny ex Soviet republic in 2014 and showered it with aid but it has become increasingly critical of Chisinau s track record on reforms Sandwiched between EU member Romania and Ukraine Moldova has been dogged by scandals and its pro Western government has failed to lift low living standards driving many voters towards the Socialists who favor closer ties with Russia Socialist leader Igor Dodon took the presidency in 2016 The presidency is not being contested in the February 24 election Opinion polls suggest no party will win a parliamentary majority raising the prospect of prolonged wrangling or possibly further elections Vladimir Plahotniuc an oil to hotels tycoon whose Democratic Party leads the government could cobble together a coalition as he did after the last election in 2014 despite winning only 19 out of 101 seats Moldova has become a gray zone a no man s land between the East and the West said Vladislav Kulminski the head of Chisinau based Institute for Strategic Initiatives And elites who are in office today are very happy about it because you get to define the rules you get to write the rules and rewrite the rules and you are not held accountable by either Brussels or Moscow BACKSLIDING It is a far cry from 2012 when German Chancellor Angela Merkel on a visit to Chisinau praised the reforms of then prime minister Vlad Filat and fielded questions about Moldova s prospects of joining the EU Seven years on Filat is in jail for allegedly taking bribes he denied wrongdoing in a 1 billion corruption scandal known locally as the theft of the century which plunged the country of 3 5 million into a deep crisis in 2014 2015 Moldova now ranks 117th out of 180 countries in Transparency International s Corruption Perceptions Index down from 89th in 2009 when the EU launched an Eastern Partnership program with six former Soviet states Moldova is definitely a country that the remaining Eastern Partnership member states could learn from how not to behave if they want to maintain good relations with the EU said Cristina Gherasimov of the German Council on Foreign Relations The EU last year froze aid to Moldova after a local court struck down the victory of opposition leader Andrei Nastase in the Chisinau mayoral race on a technicality The European Parliament declared Moldova a state captured by oligarchic interests Plahotniuc s party has trumpeted the achievements of its government under Prime Minister Pavel Filip The economy is growing the banking system has stabilized and cooperation with the International Monetary Fund has resumed Nelly Sonic Vice President of Lion Gri one of Moldova s biggest wine exporters said Plahotniuc s party has helped businesses with tax cuts Some Moldovans suspect that the Socialists and Plahotniuc for all their public feuding collaborate behind the scenes to carve up the state between them a suggestion rejected by Dodon in a Reuters interview in January The Democrats cast themselves as the only party to stop Moldova turning back to Russia which may have made the EU initially unsure of how to deal with the country s backsliding Gherasimov said By now it seems that the EU and the European governments have understood very well that this is a fake ideological and geopolitical battle with President Dodon and the Socialist Party which works to the advantage of both parties she said But many Moldovans remain wary of Russia which has proven an unreliable trade partner slapping embargoes on wine and farm produce including in 2014 when Moldova signed its EU accord Sonic shuns Russia for newer markets like China after losing millions of dollars during the embargoes
We are very uncomfortable selling our wines in Russia because it is associated with high risks she said |
WMB | Motor racing Stroll ready to take a lead role in the family F1 business | By Steve Keating TORONTO Reuters Lance Stroll may be the favored son at Racing Point the Formula One team his billionaire father Lawrence bought last year but the Canadian will still have to deliver the goods for the family business The 20 year old driver a veteran of two seasons with Williams NYSE WMB cannot expect an easy ride from Mexican team mate Sergio Perez either The pairing of the boss s son with the 29 year old veteran who was with the Silverstone based team in their previous incarnation as Force India could be both intriguing and potentially explosive this season Stroll who has long chafed at the suggestion his progress owes much to parental cash told Reuters at a team livery launch on Wednesday that he was ready to roll his sleeves up for his new team It s a family business He Lawrence Stroll has put me on the turf and I have to get my hands dirty he said I m not kicking my feet up in my chair I am going to be hustling and it is a great opportunity for me as a racing driver a big stepping stone in my career It s a great opportunity for my father and the Stroll family we are putting our heart and soul into Racing Point He has been in my corner since day one and to be working alongside him is an amazing opportunity With a Canadian owner a Canadian driver and several Canadian sponsors Racing Point made history at the Canadian International Autoshow on Wednesday as the first Formula One team to launch in North America While the relationship between Perez and Stroll was nowhere near as frosty as the brutal winter weather outside there was an undeniable chill as the elephant in the auditorium was addressed During a question and answer session both drivers were asked if they looked forward to being in a competitive car against each other When the time for pictures came a photographer setting up the photo suggested Lance pretend you like him That triggered a great laugh from the crowd along with an uncomfortable shuffle and smile from the two drivers When pushed Stroll offered the Mexican some small platitudes Perez who has made 155 Grand Prix starts and reached the podium eight times was more direct The approach for me is the same I want to have a good relationship with my team mate because it is important to have atmosphere between engineers drivers he told Reuters I am really looking forward to work with Lance To see what he is good at what he is weak at While Perez s credentials are well established Stroll has yet to convince many even though he reached the podium in his rookie season before struggling last year in one of the worst cars Williams have ever built Racing Point as Force India have a history of punching above their weight But with the new financial muscle brought by Stroll senior and his consortium partners the team can hope to be challenging the frontrunners again
It is important we take a good step forward in 2019 We want to be fighting for podiums and aim for a strong top four finish said team principal Otmar Szafnauer |
WMB | Border buster shows why Brexit frontier checks in Northern Ireland would matter | By Graham Fahy and Helena Williams NYSE WMB KINAWLEY Northern Ireland Reuters Near one of the scores of small border crossings on the island of Ireland a yellow digger stands as a monument to the lengths communities went to to keep roads open during Northern Ireland s violent Troubles Nicknamed the border buster it was bought via fundraising by locals for around 3 000 pounds 3 855 in 1992 They used it to defy a British army policy of closing or destroying back roads and funneling traffic through military checkpoints that were in place on major roads until a peace deal mostly ended three decades of violence six years later The digger now on a dais and marked by a plaque shows why the 500 km 350 mile frontier matters so much in the debate over how Britain leaves the European Union and the resistance any checks between British run Northern Ireland and EU member Ireland could meet It developed into a battle of wills said Dessie McManus 56 recalling how men women and children spent their Sundays removing concrete barriers or filling in craters just to open the roads up to go to work or church or do their shopping We always felt that we had right on our side London Dublin and Brussels want to avoid any customs or immigration checks on what is now an open border once Britain leaves the EU But they are unable to agree on the backstop or insurance policy that would rule out a hard border and the United Kingdom is on course to leave the bloc on March 29 without a deal While police on both sides of the border fear any resulting checkpoints could become a target for hold out militant groups opposed to the peace accord the first spark of disorder could just as easily come from locals going about their business McManus a beef farmer from Kinawley in the North who lives a six minute drive away in the Irish village of Swanlinbar says residents will not stand for any sort of intrusion into the normality they have taken for granted over the past 20 years Nobody wants to countenance the thought of any checkpoints coming back People wouldn t accept them said McManus fearing that the province s history shows how such resistance can snowball out of control in a very short period IMMEDIATE UPROAR The sectarian violence that left 3 600 people dead is partly rooted in such an escalation when 50 years ago British troops were sent to the city of Londonderry to quell unrest over a civil rights campaign launched by the Catholic minority More recently Belfast witnessed the worst spell of violence since the conflict ended between Catholic nationalists seeking a united Ireland and pro British Protestant loyalists the end of a century old tradition of flying Britain s Union flag over city hall in 2012 led to weeks of street riots There is a fear that actually even something that might begin as a peaceful demonstration could be exploited by people who want to stir up violence and tensions within the community said Katy Hayward a lecturer in sociology at Queen s University Belfast This is the environment in which you understand the peace process that actually people from all different perspectives have felt relatively comfortable in Northern Ireland and this is why we ve seen such a decrease in violence The economies north and south have become much more interconnected so a hardening of the border could affect more people another potential recipe for discord said Damian McGenity of the Border Communities Against Brexit protest group According to InterTradeIreland the all island body set up as a result of the 1998 peace accord cross border trade in goods has grown at an average rate of 4 percent per year since the border posts came down There will be immediate uproar said McGenity 45 a part time farmer and postmaster from the Northern Ireland village of Jonesborough that can be reached faster by car from Ireland s Dublin Airport than it can from the airport in Belfast There s been too much talk of a return to violence It s more about someone in a car or a truck losing their temper with a Garda police officer or a customs official and giving him a punch Then a row starts when that Garda needs more protection That s going to break out all over the place For McGenity s neighbors along the eastern Armagh Louth border memories of how customs huts transformed into one of the most militarized areas in western Europe are all too real and the return of any kind of hard border inconceivable We well know what it would go back to and the dangers of that and it only takes a small spark like the re introduction of whatever the border manifests itself in said Declan Fearon 61 chairman of the nearby Dromintee Gaelic sports club
We are very concerned about that and we never want to countenance leaving that legacy to our grandchildren |
WMB | Top 25 roundup No 1 Vols win 19th straight | Admiral Schofield scored 21 points and grabbed 10 rebounds to lead five Tennessee double figure scorers Wednesday night as the No 1 Volunteers extended their school record winning streak to 19 games with an 85 73 victory over South Carolina in Knoxville Tenn Jordan Bowden came off the bench to score 16 points for Tennessee 23 1 11 0 Southeastern Conference while Jordan Bone Lamonte Turner and Kyle Alexander each added 10 SEC scoring leader Grant Williams NYSE WMB was held to eight points far below his 19 9 average but he contributed nine rebounds and seven assists Georgetown transfer Tre Campbell canned all five 3 point attempts and scored a team high 19 points for the Gamecocks 12 12 7 4 who went 14 of 23 on long distance shots but never got the deficit into single digits in the second half Chris Silva chipped in 17 points and 15 rebounds and Hassani Gravett added 15 points in a reserve role No 13 Villanova 85 Providence 67 Eric Paschall scored 20 of his game high 25 points in the second half as the Wildcats rebounded from their first Big East Conference defeat at Marquette on Saturday with a convincing victory over the visiting Friars Phil Booth added 22 points as the defending NCAA champion Wildcats 20 5 11 1 Big East reached 20 wins for the seventh consecutive season and the 14th in their last 15 seasons Nate Watson scored 18 points for Providence which fell for the fourth time in the past five games The Friars 14 11 4 8 are 13 32 at Villanova all time No 15 Texas Tech 78 Oklahoma State 50 Jarrett Culver scored 19 points as the Red Raiders rolled to a victory over the Cowboys at Stillwater Okla Matt Mooney made all five of his 3 point attempts while scoring 15 points as Texas Tech 20 5 8 4 Big 12 won for just the second time in its last 16 visits to Stillwater Tariq Owens contributed 11 points and seven rebounds for the Red Raiders who won for the fifth time in their past six contests Cameron McGriff recorded 18 points and 11 rebounds for Oklahoma State 9 15 2 9 which has lost four straight games and seven of its past eight No 17 Florida State 88 Wake Forest 66 The Seminoles who started 1 4 in Atlantic Coast Conference play this season won their sixth straight league game defeating the Demon Deacons in Tallahassee Fla Florida State 19 5 7 4 controlled the game for most of the first half and all of the second half sending the Demon Deacons 9 14 2 9 to their sixth loss in the past seven games Senior Christ Koumadje had the best game of his Seminoles career posting his first career double double with 20 points 12 rebounds Wake Forest was paced by Chaundee Brown with 20 points No 22 Virginia Tech 76 Georgia Tech 68 Ty Outlaw made six 3 pointers and finished with a season high 20 points in the Hokies win over the Yellow Jackets at Blacksburg Va Virginia Tech 19 5 8 4 Atlantic Coast Conference ended a two game losing streak and swept the season series against Georgia Tech which has lost six straight and eight of its past nine
The Hokies also got 16 points from both Kerry Blackshear Jr and Nickeil Alexander Walker as well as 11 from Ahmed Hill Georgia Tech 11 14 3 9 got a career high 22 points from freshman Michael Devoe plus 15 points and eight rebounds from James Banks III Field Level Media |
WMB | NBA roundup Russell lifts Nets over Cavs in 3 OTs | D Angelo Russell took over in the third overtime scoring 14 of his 36 points and the short handed Brooklyn Nets outlasted the host Cleveland Cavaliers for a wild 148 139 victory on Wednesday Russell began the game by missing 10 of his first 11 shots but he was 6 of 6 in the third overtime and finished 13 of 30 from the floor After the Nets forced a third overtime on a buzzer beating 3 pointer by DeMarre Carroll Russell made a handful of plays to help the Nets snap a four game road losing streak in their last game before the All Star break Cleveland s Jordan Clarkson scored a game high 42 points hitting 7 of 17 3 point attempts Bucks 106 Pacers 97 Giannis Antetokounmpo produced 33 points 19 rebounds and 11 assists for his fifth triple double of the season as Milwaukee rallied for a victory over Indiana in Indianapolis Malcolm Brogdon scored 17 points and Khris Middleton added 15 as Milwaukee won for the 14th time in its past 16 games The Bucks 43 14 own the best record in the NBA heading into the All Star break Bojan Bogdanovic scored 20 points for the Pacers who had a six game winning streak halted Domantas Sabonis recorded 14 points and nine rebounds Nuggets 120 Kings 118 Nikola Jokic had 20 points 18 rebounds and 11 assists and he tipped in his own miss with 0 3 seconds left to give host Denver a win over Sacramento Paul Millsap finished with 25 points and 13 rebounds and Isaiah Thomas scored eight points in 13 minutes during his Denver debut The Nuggets won despite coach Michael Malone and guard Malik Beasley being ejected Beasley finished with 21 points before getting tossed Buddy Hield had 25 points and Harrison Barnes finished with 19 points and 11 rebounds for the Kings Trail Blazers 129 Warriors 107 Damian Lillard scored 29 points and Portland used a late 16 0 run to blow away visiting Golden State Jake Layman added 17 points off the bench as eight players scored in double figures for the Trail Blazers who snapped Golden State s five game win streak Kevin Durant and Stephen Curry each scored 32 points for the Warriors who had won 16 of their previous 17 contests Golden State played without center DeMarcus Cousins and key reserves Andre Iguodala and Shaun Livingston to give them some rest Celtics 118 Pistons 110 Jayson Tatum led six Boston players in double figures with 19 points as the home team ended Detroit s four game winning streak Gordon Hayward contributed 18 points and eight assists while Al Horford supplied 17 points 14 rebounds and eight assists Jaylen Brown had 17 points and seven rebounds Marcus Smart added 16 points and five assists and Marcus Morris chipped in 11 points Blake Griffin led Detroit with 32 points eight rebounds and five assists Andre Drummond had 21 points 17 rebounds and four steals for the Pistons Timberwolves 121 Rockets 111 Jeff Teague produced a double double while Karl Anthony Towns led a dominant performance in the paint by Minnesota which used a balanced scoring attack to thwart James Harden and Houston in Minneapolis Rookie Josh Okogie provided a spark by scoring 16 points and playing energetic defense on Harden who still extended his streak of 30 point games to 31 with 42 points matching Wilt Chamberlain for the second longest streak in NBA history Harden has recorded 22 40 point games this season Teague paced seven Timberwolves in double figures with 27 points and added a game high 12 assists Towns paired 25 points with a team best nine rebounds Chris Paul added 16 points and eight assists for Houston while Kenneth Faried chipped in 12 points and 11 rebounds Heat 112 Mavericks 101 Dwyane Wade played his final game at longtime nemesis Dallas and made it a memorable one with a game high 22 points and Miami rode a dominant third quarter to a victory Wade 37 led the Heat past the Mavs in the 2006 NBA Finals Five years later Dallas and Dirk Nowitzki repaid Wade by winning the Finals in six games on Miami s home floor After Wednesday s game Nowitzki who is also nearing the end of his career exchanged jerseys with Wade Nowitzki 40 who has yet to officially announce that this his 21st season will be his last finished with 12 points in 17 minutes but he was nowhere near his efficiency level of seasons past shooting 5 of 14 from the floor and just 2 of 10 from beyond the 3 point arc 76ers 126 Knicks 111 New York erased much of a 26 point third quarter deficit but could not complete the comeback against visiting Philadelphia which extended the Knicks franchise record single season losing streak The Knicks have dropped 18 straight two shy of the franchise s all time record a 20 game streak that spanned the 1984 85 and 1985 86 seasons The skid is the longest in the NBA since the Memphis Grizzlies dropped 19 straight last season Joel Embiid led Philadelphia with 26 points and 14 rebounds Tobias Harris scored 25 points his top total in four games since being acquired by the 76ers on Feb 6 Allonzo Trier scored 19 points to lead an impressive performance by Knicks reserves who accounted for 74 points Raptors 129 Wizards 120 Pascal Siakam scored 19 of his career best 44 points in the third quarter and grabbed 10 rebounds as Toronto defeated visiting Washington and entered the All Star break with a six game winning streak The Raptors trailed by as many as 12 points in the third quarter but scored 44 points in the period to take a 10 point lead entering the fourth OG Anunoby had 10 points in the third quarter and finished with a career best 22 points for Toronto which was without Kawhi Leonard because of a sore left knee Bradley Beal led Washington with 28 points and 11 assists Jeff Green added 23 points and Jabari Parker had 22 points and nine rebounds Bulls 122 Grizzlies 110 Otto Porter Jr scored a career high 37 points on 16 for 20 shooting and Chicago pulled away for a win over visiting Memphis Robin Lopez contributed a season high 25 points on 10 for 15 shooting for the Bulls who won for only the fourth time in their past 22 games Lauri Markkanen finished with 21 points and 10 rebounds for his eighth double double in the past nine games Memphis lost for the second consecutive game after falling short by one point to the San Antonio Spurs on Tuesday night Avery Bradley led the Grizzlies in scoring for a second consecutive contest as he finished with 15 points on 7 for 12 shooting Clippers 134 Suns 107 Lou Williams NYSE WMB scored 17 of his game high 30 points in the first half as Los Angeles built a big lead on visiting Phoenix and coasted to a victory The win was the Clippers 12th straight over the Suns dating to April 2016 Phoenix led by Kelly Oubre Jr with a season high 28 points lost its 15th in a row and has dropped 11 straight on the road
Los Angeles scored its second most points of the season with Danilo Gallinari contributing 20 and Montrezl Harrell adding 19 Field Level Media |
WMB | Lyft to woo investors with fast U S growth in IPO race with Uber | By Heather Somerville and Joshua Franklin SAN FRANCISCO NEW YORK Reuters Lyft Inc will pitch investors on its fast growth in the United States as it seeks to beat out Uber Technologies Inc to become the first publicly listed ride hailing company according to people familiar with the matter Lyft plans to tell investors its U S market share is approaching 40 percent up from 35 percent in early 2018 the people said The company has pushed aggressively into smaller and mid sized cities Lyft currently serves more than 600 American and Canadian cities three times more than in early 2017 San Francisco based Lyft is under pressure to sell investors on its prospects as it races neck and neck with Uber to an initial public offering IPO that could come as early as the second quarter of 2019 If Lyft gets to list first it would avoid being judged by the valuation given to its larger rival Uber remains the undisputed king of ride hailing in terms of size Its revenue for the third quarter of 2018 was 2 95 billion up 38 percent from the prior year It operates in about 70 countries and also has businesses in freight hauling autonomous driving food delivery air taxis and artificial intelligence research In contrast Lyft is available only in the United States and Canada And it has stayed tightly focused on its core ride hailing service Lyft has kept its financials secret It is estimated to be worth between 20 billion and 30 billion compared to Uber s prospects for a valuation of up to 120 billion So Lyft will be seeking to assure IPO investors it represents an attractive bet compared to its more established competitor people familiar with its marketing strategy said Lyft has benefited from a spate of scandals that rocked Uber in 2017 including allegations of sexual harassment made by its female employees the forced resignation of its chief executive officer and its use of illicit software to deceive regulators A DeleteUber campaign surged on social media The negative publicity helped Lyft attract new drivers and riders without spending much on marketing Given that both Uber and Lyft are still losing money investors will be focused on their growth and potential for future profitability Lyft has prepared some earnings metrics it hopes will persuade investors that it will not be in the red for long the people familiar with its strategy said These include its overall growth in ride bookings the total number of rides per passenger the commissions it earns from drivers and the percentage of rides across its different ride types particularly its growing carpooling service the people said Lyft declined to comment The IPO market will be focused on growth said Jim Williams NYSE WMB chief investment officer of Creative Planning Inc a wealth and investment manager in Overland Park Kansas His firm advises clients who already own shares in Lyft and Uber as well as those considering buying stock in the companies Investors will be assessing the companies based on the number of new riders and total rides Williams said They will want to know Are these companies expanding he said For a graphic on global growth projections for ride sharing see UBER TOUTS DIVERSIFICATION Uber reported sharply slower global bookings growth in the third quarter of 2018 that figure slid to 6 percent over the previous quarter in a business that had routinely been expanding by double digit percentages People familiar with management s thinking say Uber executives are concerned that if investors judge the company by the same yardstick as Lyft focusing on the number of rides it sells as opposed to its other initiatives its valuation could suffer in an IPO Uber plans to portray itself to IPO investors as a global logistics and mobility platform and will spend less time on metrics specific to its core ride hailing business the people said Uber declined to comment Over the last year Uber CEO Dara Khosrowshahi has sought to direct investor attention to food delivery business Uber Eats whose revenue grew 150 percent in the third quarter over the previous year Uber and Lyft continue to diverge offering different financial opportunities to IPO buyers according to Anna Marie Wascher CEO and founding partner at Flat World Partners an investment management firm that made an early Lyft investment
With Uber you will invest in Uber Eats and global expansion Wascher said Lyft will get investors betting on the U S ride hailing market |
VZ | Verizon Launches Inseego 5G MiFi Service Reaches St Paul | Continuing its lead in promulgating 5G network nationwide Verizon Communications Inc NYSE VZ recently launched its fifth 5G enabled device Inseego Corp s NASDAQ INSG MiFi M1000 Markedly the Inseego MiFi is Verizon s first business ready 5G device that combines bandwidth and speed to meet customers expectations with enterprise grade security for businesses The device available exclusively to Verizon customers when connected to the company s 5G Ultra Wideband network delivers the bandwidth and download speed required for applications such as 4K 8K video streaming VR AR mobile workforce industrial IoT among others The 5G MiFi M1000 facilitates first responders to quickly set up mobile command centers with ultra fast data speed supporting new public safety applications Verizon 5G Ultra Wideband service along with Inseego MiFi 5G is also likely to support telemedicine by enabling real time interaction between healthcare providers and patients Furthermore the telecom and media giant launched 5G Ultra Wideband mobility service in Saint Paul MN The latest addition joins Denver Chicago Minneapolis and Providence in select locations as the fifth of more than 30 Verizon 5G mobility cities that the company plans to launch in 2019 In Saint Paul Verizon consumer and business customers can experience 5G Ultra Wideband service in certain areas of Downtown Lowertown and West Seventh When customers go beyond the company s 5G coverage area the 5G enabled devices including mobile hotspot will change to its 4G LTE network The company has upped the ante against its rivals by launching this avant garde network The network hinges on three fundamental drivers to deliver the full potential of 5G technology These include massive spectrum holdings particularly in the millimeter wave bands for faster data transfer end to end deep fiber resources and the ability to deploy large number of small cells With one of the most efficient wireless networks in the United States Verizon continues to deploy the latest technologies to deliver faster peak data speed and capacity for customers driven by customer focused planning disciplined engineering and constant strategic investments Verizon has long term earnings growth expectation of 4 3 Driven by healthy traction in the wireless business the stock has rallied 29 4 compared with the s growth of 4 1 in the past two years Zacks Rank Key PicksVerizon currently has a Zacks Rank 3 Hold A couple of better ranked stocks in the industry are U S Cellular Corp NYSE USM sporting a Zacks Rank 1 Strong Buy and T Mobile US Inc NASDAQ TMUS carrying a Zacks Rank 2 Buy You can see U S Cellular surpassed earnings estimates in each of the trailing four quarters the average positive surprise being 79 3 T Mobile has long term earnings growth expectation of 13 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 | Will Healthy Top Line Growth Buoy AT T T Q2 Earnings | AT T Inc NYSE T is scheduled to report second quarter 2019 results before the opening bell on Jul 24 The company is likely to record higher revenues on the back of solid performance from the Wireless business and incremental contribution from WarnerMedia assets and digital ad market Whether this will benefit its bottom line remains to be seen Top Line ExpansionDuring the second quarter AT T introduced mobile 5G services in certain areas of seven U S cities namely Austin Los Angeles Nashville Orlando San Diego San Francisco and San Jose With this the company has deployed mobile 5G services in 19 cities across the country Markedly its 5G service involves utilization of millimeter wave spectrum for deployment in dense pockets while mid and low band spectrum holdings are likely to be used in suburban and rural areas Following the completion of the latest round of telecom spectrum auction by the Federal Communications Commission FCC Auction 102 AT T has emerged as the leading bidder among all participants The company has reportedly won spectrum licenses that cover about 98 of the U S population offering it a competitive advantage for seamless 5G deployment across the country This is likely to be reflected in the upcoming results AT T seems to be keen to generate additional revenues from more video content and subsequent ads through these videos This in turn would enable the company to capture a greater market share in the digital ad business and augment its position as a media behemoth with significant presence in the telecommunication sector During the quarter AT T s advertising and analytics division Xandr unveiled an ad buying platform Xandr Invest Markedly the new platform will allow advertisers to put ads on premium and brand content on AT T owned assets such as TV networks CNN TBS and TNT Also it will be the only ad buying platform for Community Xandr s premium video marketplace The latest move is aimed at attracting advertisers with exceptional access to the telecom behemoth s customer data while facilitating businesses to purchase ad space across varied formats Xandr Invest is aligned to merge AT T s two different buyouts media company Time Warner and ad technology company AppNexus to grow its business beyond a wireless service provider The platform includes an offering named programmatic guaranteed which will enable advertisers to reserve ads on premium content that may have limited supply In second quarter 2019 AT T collaborated with Hewlett Packard Enterprise Company to facilitate diverse businesses to harness edge connections and edge computing capabilities Together the companies aim to offer a flexible tool to better analyze data and process low latency high bandwidth applications for faster access to data processing The go to market alliance particularly seeks to enable customers to swiftly convert data into actionable intelligence enabling unique digital experiences and smarter operations During the quarter AT T also divested its 9 5 ownership stake in Hulu an U S entertainment firm that provides over the top streaming services for 1 43 billion 1 09 billion AT T aims to utilize the sale proceeds to reduce its burgeoning debt burden that swelled to 176 5 billion at year end 2018 primarily due to the acquisition of Time Warner assets Buoyed by such tailwinds total revenues for the company are expected to be 44 963 million compared with 38 986 million reported in the prior year quarter Earnings WhispersOur proven model does not conclusively show that AT T will beat earnings this quarter as it does not possess the key components A stock needs to have both a positive and a Zacks Rank 1 Strong Buy 2 Buy or 3 Hold for this to happen This is not the case here as you will see below Earnings ESP Earnings ESP which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate is 1 64 with the former pegged at 88 cents and the latter at 89 cents You can uncover the best stocks to buy or sell before they re reported with our AT T Inc Price and EPS Surprise
Zacks Rank AT T has a Zacks Rank 3 Although this increases the predictive power of ESP we need to have a positive ESP to makes us reasonably confident of an earnings beat Note that we caution against stocks with a Zacks Rank 4 or 5 Sell rated going into the earnings announcement especially when the company is seeing a negative estimate revisions momentum Stocks to ConsiderHere are some 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 Verizon Communications Inc NYSE VZ is slated to release quarterly numbers on Aug 1 It has an Earnings ESP of 0 29 and a Zacks Rank 3 You can see NETGEAR Inc NASDAQ NTGR is scheduled to release results on Jul 24 The company has an Earnings ESP of 1 01 and has a Zacks Rank 3 The Earnings ESP for United States Cellular Corporation NYSE USM is 15 66 and it sports a Zacks Rank of 1 The company is likely to report quarterly numbers on Aug 2 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 | Nokia T Mobile US agree 3 5 billion deal world s first big 5G award | By Eric Auchard LONDON Reuters T Mobile US O TMUS named Nokia HE NOKIA to supply it with 3 5 billion in next generation 5G network gear the firms said on Monday marking the world s largest 5G deal so far and concrete evidence of a new wireless upgrade cycle taking root No 3 U S mobile carrier T Mobile which in April agreed to a merger with Sprint N S to create a more formidable rival to U S telecom giants Verizon N VZ and AT T N T said the multiyear supply deal with Nokia will deliver the first nationwide 5G services The T Mobile award is critical to Finland s Nokia whose results have been battered by years of slowing demand for existing 4G networks and mounting investor doubts over whether 5G contracts can begin to boost profitability later this year 5G networks promise to deliver faster speeds for mobile phone users and make networks more responsive and reliable for the eventual development of new industrial automation medical monitoring driverless car and other business uses But cash strapped telecom operators around the world have been gun shy over committing to commercial upgrades of existing networks with many seeing 5G technology simply as a way to deliver incremental capacity increases instead of new features Terms of the deal call for Nokia to supply a range of 5G hardware software and services that will allow T Mobile to capitalize on licensed airwave to deliver broad coverage on 600 megahertz spectrum and ultra high speed capacity on 28 gigahertz airwaves in densely trafficked urban areas the companies said Nokia will supply T Mobile with its AirScale radio access platform along with cloud connected hardware software and acceleration services they said in a statement The network equipment business which is led by three big players China s Huawei Nokia and Sweden s Ericsson ST ERICb has struggled with flagging growth since the current generation of 4G mobile equipment peaked in 2015
This version of the story has been refiled to fix typo to say gigahertz in sixth paragraph |
VZ | T Mobile adds wireless subscribers awaits Sprint deal approval | By Sheila Dang Reuters T Mobile US Inc O TMUS on Wednesday said it added far more wireless subscribers than Wall Street had expected as the third largest U S wireless carrier invests in its network while awaiting regulatory approval to buy rival Sprint Corp N S T Mobile Chief Executive John Legere said in an interview he felt confident regulators will approve the current merger structure without having to divest parts of the business The combined T Mobile and Sprint would be able to better compete against larger rivals Verizon Communications Inc N VZ and AT T Inc N T and combine resources to build the next generation wireless network or 5G Legere in a call to discuss quarterly results with analysts said the merger is critical to 5G plans and for increasing industry competition adding that the pending deal has been very well received The Bellevue Washington based company said it added 686 000 wireless subscribers during the second quarter compared with 786 000 added in the previous year Analysts had expected T Mobile to add 467 000 subscribers according to research firm FactSet Shares of T Mobile rose 1 5 percent to 60 25 in extended trading on Wednesday T Mobile s revenue rose to 10 57 billion from 10 2 billion a year earlier shy of Wall Street s estimate of 10 66 billion according to Thomson Reuters I B E S Chief Financial Officer Braxton Carter said capital expenditures for the year would be at the high end of its 4 9 billion to 5 3 billion forecast range as the company works to install its spectrum for 5G Net income for the quarter rose 35 percent to 782 million or 92 cents per share from 581 million or 67 cents per share a year ago Phone subscriber churn or the rate of customer defections was 0 95 percent during the quarter down from 1 1 percent last year
The company s average revenue per phone subscriber was 46 52 in the second quarter down 1 2 percent from the year ago quarter due to customers moving to tax inclusive plans T Mobile said on Monday that Finland s Nokia HE NOKIA would supply it with network equipment for 5G in a 3 5 billion deal the world s largest 5G deal so far |
WMB | Palestinians warm to Netanyahu rival citing signs of compromise | By Stephen Farrell and Dan Williams NYSE WMB RAMALLAH West Bank JERUSALEM Reuters Palestinians warmed on Wednesday to Prime Minister Benjamin Netanyahu s toughest election rival a former top general who said Israel should not maintain its dominion over them With both a general election and the unveiling of a U S peace initiative on the horizon the centrist candidate Benny Gantz has been signaling an openness to territorial compromise in the occupied West Bank That marks a contrast with the right wing Netanyahu who has ruled out withdrawing settlements The secret U S proposal for breaking a five year diplomatic deadlock is widely expected to be unveiled after Israel s April 9 ballot Pollsters see Netanyahu s conservative Likud party winning around 30 of parliament s 120 seats setting him up for a fifth term In an interview on Wednesday with Israel s Yedioth Ahronoth newspaper Gantz was asked about prospects for accommodation with the Palestinians who seek a state in the West Bank and Gaza Strip with East Jerusalem as its capital We need to find a way not to have dominion over other people Gantz said Gantz whose new Resilience party is gaining ground against Netanyahu s Likud with as many as 24 projected seats has said he wanted to strengthen settlement blocs in the West Bank But he has not mentioned what might happen in any future peace deal to isolated settlements that are not incorporated into Israel if Palestinians are given a separate state Nabil Abu Rudeineh a spokesman for Palestinian President Mahmoud Abbas praised the signs coming from Gantz about settlements calling them a step in the right direction should he win the election and prove willing and ready for peace It s encouraging if he succeeds and he sticks to this opinion Abu Rudeineh told Reuters Most world powers consider Israeli settlements on land captured in a 1967 war to be illegal under the Geneva conventions Israel disputes this citing historical ties to the land and has expanded the settlement population steadily including during the past decade under Netanyahu Palestinians say settlements must be removed from their future state in any final agreement although some could be ceded to Israel as part of an agreed swap for other land The last peace talks collapsed in 2014 in part over the issue of settlements and Abbas is boycotting the Trump administration accusing it of being biased toward Israel In a statement Likud said Gantz was planning to form a leftist government sympathetic to the Palestinians Gantz Resilience party said no unilateral decision will be made on settlement evacuation and that he would maintain non negotiable security protections Netanyahu cites the example of Gaza where Israel unilaterally pulled out its settlements in 2005 and the Islamist group Hamas soon took control as proof that removing settlements from the West Bank would be dangerous Gantz described the Gaza withdrawal as well executed telling Yedioth We need to take the lessons and apply them elsewhere
The Trump administration has wavered over whether it would endorse a Palestinian state saying the final outcome will be up to the sides to determine but both may need to compromise |
WMB | NBA roundup Bucks stay hot pound Wizards | Giannis Antetokounmpo scored 43 points Eric Bledsoe added 22 points and 11 assists and the Milwaukee Bucks routed the visiting Washington Wizards 148 129 on Wednesday night for their fifth straight win Antetokounmpo made 17 of 21 field goal attempts including 3 of 3 from 3 point range as Milwaukee beat the Wizards for the second time in less than a week The Bucks who shot 60 2 percent 56 of 93 and made 19 of 30 3 pointers have won 11 of their past 12 Bradley Beal scored 30 for the Wizards who allowed a season high point total in losing their third straight Thomas Bryant had 26 points and 14 rebounds for Washington while Tomas Satoransky had 16 points and 10 assists Warriors 141 Spurs 102 Golden State made 24 of 25 shots bridging the second and third quarter breaking open a close game en route to a shellacking of short handed San Antonio in Oakland Calif The Spurs elected to rest their top two scorers LaMarcus Aldridge and DeMar DeRozan in the second game of their eight game Rodeo Trip with the second half of a back to back looming Thursday night against the Trail Blazers in Portland Ore The Warriors scored 49 points in the third quarter giving them 115 for three periods the most ever allowed through three quarters in the Gregg Popovich era in San Antonio Klay Thompson had 26 points and Kevin Durant 23 for the Warriors who won for the 13th time in their last 14 games Rockets 127 Kings 101 With James Harden leading the way in scoring for a 33rd consecutive game visiting Houston turned a second quarter eruption into an easy victory over Sacramento Harden posted 36 points on 13 of 26 shooting and extended his streak of consecutive 30 plus point games to 28 He hit 8 of 13 3 point attempts after entering play having shot 31 9 percent from deep over his previous 12 games Gerald Green 25 points and Eric Gordon 20 helped shoulder the scoring load for Houston shooting a combined 15 of 31 Buddy Hield scored 20 points for Sacramento while Bogdan Bogdanovic and Frank Mason added 13 apiece Nets 135 Nuggets 130 D Angelo Russell totaled 27 points and 11 assists as Brooklyn stopped a three game losing streak with a victory over visiting Denver Russell shot 10 of 23 from the field including 6 of 9 on 3 pointers and posted his sixth double double of the season The All Star guard also recorded at least 25 points and 10 assists for the second time in his career as the Nets won for the 14th time in their past 16 home games since Dec 7 DeMarre Carroll contributed 18 points 10 rebounds and six assists as the Nets shot 51 1 percent handed out a season best 36 assists and withstood some shaky moments in the final minutes The Nuggets Nikola Jokic recorded his 10th triple double of the season by totaling 25 points 14 rebounds and 10 assists Denver lost its second straight after winning six in a row Mavericks 99 Hornets 93 Rookie of the Year favorite Luka Doncic recorded the third triple double of his career and shook off poor shooting to produce late fireworks as host Dallas defeated Charlotte Doncic just 3 of 16 from the floor with under four minutes to play came up with a nifty finish at the rim and drew the foul for a three point play and then followed up with a 3 pointer to put the Mavs ahead for good 94 88 in a game that wasn t pretty but was mostly close throughout The 19 year old Slovenian finished with a team high 19 points on 5 of 20 shooting just 2 of 10 from beyond the arc and added 11 assists and 10 rebounds His total floor game stole the spotlight from All Star Kemba Walker who led the Hornets with 30 points Pelicans 125 Bulls 120 Julius Randle returned from a six game absence to score 31 points and lead a balanced New Orleans offense in a win at Chicago Randle who had been sidelined by an ankle injury was joined in double figures by Cheick Diallo 18 points Jrue Holiday 18 points and 11 assists Jahlil Okafor 13 points and Darius Miller and Kenrich Williams NYSE WMB 12 points each as the Pelicans won for just the second time in eight games The Pelicans chose not to play All Star forward Anthony Davis who requested a trade last week while sidelined by a finger injury that has since healed enough for him to be cleared to play For Chicago Lauri Markkanen had 30 points and 10 rebounds while Zach LaVine added 28 points eight rebounds and seven assists Jazz 116 Suns 88 Donovan Mitchell scored 21 points and Rudy Gobert added 16 points and 12 rebounds as Utah had more than enough to beat visiting Phoenix which took its 12th consecutive defeat Royce O Neale and Joe Ingles added 15 points each for the Jazz who have just two victories in their past four games but are 11 3 over their past 14 contests dating to Jan 9 Ingles had 11 assists
Josh Jackson scored 27 points for the Suns picking up the slack in the backcourt in the absence of Devin Booker who did not play because of a tight right hamstring Field Level Media |
WMB | India s central bank delivers a pre election rate cut gift to Modi but is it enough | By Manoj Kumar NEW DELHI Reuters The Reserve Bank of India s surprise decision to cut interest rates for the first time in 18 months on Thursday is a pre election stimulus gift from a compliant central bank for Prime Minister Narendra Modi But businesses and farmers and even some of his own supporters say it may be too little too late to help the economy ahead of voting which must be held by early May The quarter point reduction in the benchmark repo rate follows intense pressure late last year on the RBI to listen to government and business concerns and ease monetary policy The threat to the central bank s autonomy led to the departure in December of its governor Urjit Patel and his replacement by Shaktikanta Das whose views were much more in line with the Modi administration There have been signs that Modi s support has crumbled in parts of a countryside that supported his Hindu nationalist Bharatiya Janata Party BJP in the last election in 2014 Among the voters biggest concerns are the impact of low farm prices on rural incomes and whether there is enough job creation The rate cut will benefit Modi s government as it will boost economic growth and lending to small businesses according to Ashwani Mahajan a leader of the economic wing of the powerful Hindu nationalist group Rashtriya Swayamsevak Sangh which is the fountainhead of the BJP But it still wasn t enough he said The new governor has passed the litmus test though with 50 percent marks said Mahajan co convenor of the Swadeshi Jagran Manch adding that the rate cut should have been at least half a percentage point Four of six members of the RBI s monetary policy committee MPC voted to cut the rates while all six members voted for a change in the monetary policy stance to neutral from calibrated tightening The RBI also eased bank lending restrictions for non banking finance companies and raised the limit on collateral free farm loans in an attempt to boost lending to nearly 120 million rural households In recent weeks it has also eased curbs on some state owned bank lenders and is set to provide the government with a bigger dividend out of surplus central bank funds The BJP welcomed the decisions as they will help to dispel any perceptions that the government has not addressed credit issues facing businesses Some of those issues worsened dramatically after the government suddenly banned the use of then existing high denomination banknotes in 2016 and hastily introduced a new national sales tax in 2017 The rate cut comes after the government introduced a budget last week that also provided stimulus for the economy including handouts for farmers and modest tax cuts for the lower middle class Gopal Krishna Agarwal the BJP s spokesman on economic affairs said the government had been asking the central bank to cut rates for some time The decision would supplement government s measures announced in the budget and will boost lending to farmers housing and manufacturing sectors he said SURPRISE FOR MARKETS Despite all the lobbying that has been going on the rate cut was still a surprise for financial markets Most economists had expected rates to be left unchanged and then possibly cut at the next meeting in April But the faster than expected move isn t likely to help the economy much they said The rate cut is unlikely to give a major fillip to investments as capacity utilization still remains low in the manufacturing sector said Devendra Kumar Pant chief economist India Ratings Research the arm of rating agency Fitch It could sow the seeds for inflation especially when added to the fiscal stimulus in the budget in the second half of the next financial year which begins on April 1 he warned Mark Williams NYSE WMB Chief Asia Economist of Capital Economics in London said there was a growing perception that the central bank had allowed its focus on controlling inflation to slip and therefore higher inflation and higher interest rates were likely over the long term Some economists also felt that there was a danger that a largely independent central bank could come under government pressure providing too much stimulus for the economy after last week s budget handouts TOO LITTLE TOO LATE Some politicians and stock market analysts said the rate cut decision may not improve Modi s chances in the election as the banks could take time to pass on rate cut benefits The BJP lost three key state elections to the opposition Congress late last year and national polls have indicated that Modi faces a tough re election battle against a resurgent opposition as Congress and regional parties form alliances The rate cut also underlines fears about slowing economic growth The MPC announced on Thursday that it had trimmed its economic growth forecast to 7 2 7 4 percent for the period from April September this year from its previous 7 5 percent estimate Business and farm leaders said they were also skeptical about the impact of the rate cut and said it was the inability to borrow that was the biggest problem Our loan requirement has been rising as fertilizer and diesel prices are going up Many times we borrow from private moneylenders at a rate of 24 percent as banks refuse to lend us more said Deshpal Rana a farmer from Shamli in the northern state of Uttar Pradesh Praveen Khandelwal secretary of the Confederation of All India Traders a traders lobby group said a majority of India s traders and small manufacturers were finding it difficult to borrow from banks who are struggling to deal with 150 billion in distressed assets Today s repo rate would largely benefit bankers rather than borrowers he said
1 71 4680 rupees Additonal reporting by Rajendra Jadhav in MUMBAI Editing by Martin Howell and Nick Macfie |
WMB | Fed s Daly embraces patience on rates cites financial conditions | By Ann Saphir SAN FRANCISCO Reuters Tighter financial conditions since last September make further interest rate hikes seem much less necessary than just a few months ago San Francisco Federal Reserve Bank President Mary Daly said on Friday Tightening of financial conditions is doing part of the work that I thought we were going to have to do with policy to bridle the economy and move it back down to a sustainable pace of growth Daly told reporters after a talk at the Bay Area Council Economic Institute It is unclear she said whether the tighter conditions are a product of growth worries or a delayed reaction to the Federal Reserve s rate hikes But slowing global growth uncertainty about the outlook for trade and inflation that has only barely risen to the Fed s 2 percent target all feed a sense that fewer rate hikes will be needed Daly said in her first extensive comments on policy and the economy since November Back then she said she believed two or three more rate hikes would probably be needed to keep the economy from overheating Daly voted in December along with the rest of the Fed s policy setting committee to raise rates for a fourth time in 2018 But like her colleagues who last month signaled a pause in rate hikes with unanimous support for a patient approach to monetary policy Daly has undergone a conversion Exactly how many rate hikes we will need is not clear right now she added Which is why patience is in order Daly has been running the San Francisco Fed since October when she took over from John Williams NYSE WMB now chief of the New York Fed She is by training a labor economist but in remarks on Friday she made scant mention of the low 4 percent unemployment rate or the bigger than expected job gains in recent government reports Instead she focused on risks to the U S economy When I m looking at the economy today relative to last year what I am seeing is factors on the horizon that are going to push down growth in the United States including slower global growth and policy uncertainty She also is watching to see how tighter financial conditions percolate through the economy and whether the Fed s past string of rate hikes will tighten conditions further Asked about her views on the Fed s balance sheet Daly signaled she is open to using bond purchases not just as a last resort in a financial crisis but perhaps even before the Fed has done as much as it can with rate cuts alone
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 she said That s not decided yet but it s part of what we are discussing now |
WMB | College football notebook OSU QB Fields eligible to play in 19 | The NCAA ruled that transfer quarterback Justin Fields is eligible to play immediately for Ohio State in the 2019 season the university announced Friday Fields a five star recruit in the Class of 2018 played last season at Georgia but entered the NCAA transfer portal after the regular season Fields will enter spring camp as the overwhelming favorite to replace starter Dwayne Haskins who entered the NFL draft I am happy for Justin and his family Ohio State head coach Ryan Day said in a statement I also want to express my appreciation to the NCAA for its assistance in getting this matter resolved efficiently and with such a positive outcome for Justin A five star recruit and the No 2 ranked player in the class behind Clemson s Trevor Lawrence Fields couldn t take the starting job at Georgia from incumbent Jake Fromm Fields appeared in 12 games but saw limited action for the Bulldogs completing 27 passes for 328 yards and four touchdowns The Clemson board of trustees approved 150 000 raises for co offensive coordinators Tony Elliott and Jeff Scott bringing each assistant s salary to 1 million annually That gives the Tigers three assistant coaches who make at least 1 million annually along with defensive coordinator Brent Venables His 2 2 million salary was the second highest in FBS in 2018 according to USA Today s salary database trailing only LSU defensive coordinator Dave Aranda 2 5 million Much of the rest of the Tigers staff will also receive raises after Clemson won its second national title in three seasons with a dominant 44 16 win over Alabama capping a 15 0 season Ohio State athletic director Gene Smith has stepped down from the College Football Playoff committee citing the need to spend more time assisting his school s football program Gary Barta the athletic director at Iowa will replace Smith as the Big Ten s representative CFP executive director Bill Hancock announced Barta will begin his three year term this spring Ryan Day replaced the retired Urban Meyer as the Buckeyes head coach last month Former Vanderbilt athletic director David Williams NYSE WMB died at age 71 the university announced According to the Tennessean Williams collapsed at Pancake Pantry a restaurant near campus at approximately 10 30 a m CT on Friday He later died at Vanderbilt University Medical Center according to published reports Williams had recently retired after 16 years as Vanderbilt s athletic director His last day on the job was Jan 31 Williams was the first black athletic director in Southeastern Conference history The powerhouse North Dakota State football team has been invited to the White House to be honored by President Donald Trump The Bison won their seventh FCS national title in the past eight seasons in 2018 and North Dakota Sen John Hoeven announced that the president had extended an invitation to the squad North Dakota State went 15 0 this season and recorded a 38 24 victory over Eastern Washington in the championship game Maryland defensive back Raymond Boone was hospitalized overnight after becoming sick during an indoor workout according to the Baltimore Sun Boone who will be a sophomore next season assured fans he was fine in a statement released by the athletic department According to the report the training staff placed Boone in an ice bath and took the appropriate steps to treat him
The university fired head coach DJ Durkin and two athletic trainers after an investigation into the death of offensive lineman Jordan McNair last season Field Level Media |
WMB | NBA roundup Davis sits out end of Pelicans tight win | Anthony Davis returned from a three week absence to score 32 points before his New Orleans Pelicans teammates took over in the fourth quarter of a 122 117 victory over the visiting Minnesota Timberwolves on Friday night Davis who was booed during his pregame introduction and whenever he touched the ball during his first appearance since asking for a trade and recovering from a finger injury made 11 of 15 field goal attempts and 10 of 11 free throw attempts He also grabbed nine rebounds The All Star forward sat out the final 15 plus minutes of a close game but there was no indication of a health issue as he stayed on the bench Jrue Holiday had 27 points rookie Kenrich Williams NYSE WMB added 19 and Tim Frazier and Julius Randle had 12 each for New Orleans Karl Anthony Towns had 32 points for the Timberwolves Jeff Teague who came off the bench in his return from an eight game absence caused by a foot injury scored 12 76ers 117 Nuggets 110 JJ Redick scored 34 points to lift new look Philadelphia past visiting Denver The Sixers won in their first game since making a blockbuster deal with the Los Angeles Clippers before the Thursday trade deadline Jimmy Butler added 22 points and newly acquired Tobias Harris had 14 Joel Embiid had 15 points and 12 rebounds for his league leading 45th double double of the season The Sixers snapped a two game skid on a night when they retired Moses Malone s No 2 jersey Nikola Jokic led the Nuggets with 27 points 10 assists and 10 rebounds for his 11th triple double of the season Jamal Murray added 23 points but Denver dropped its third in a row Bucks 122 Mavericks 107 Giannis Antetokounmpo scored 29 points and grabbed 17 rebounds to lead visiting Milwaukee over Dallas The Bucks Khris Middleton did not play nor did Nikola Mirotic who was acquired from New Orleans at the trade deadline Mirotic who still must pass a physical missed his last seven games with the Pelicans because of a calf strain Milwaukee didn t need either Middleton or Mirotic in winning its sixth consecutive game as the Bucks shot 54 3 percent from the field Rookie Luka Doncic led the Mavericks with 20 points Warriors 117 Suns 107 Stephen Curry saved 10 of his 20 points for a fourth quarter rally that enabled Golden State to overtake Phoenix for its 11th consecutive win Phoenix lost its 13th straight despite leading by as many as 17 points in the first quarter and 94 88 after a hoop by Kelly Oubre Jr with 8 35 left in the game The Warriors won for the 14th time in their past 15 games despite losing Draymond Green at the start of the fourth period after he drew his second technical foul Klay Thompson led Golden State with 25 points and Kevin Durant added 21 Oubre 25 points 12 rebounds and Deandre Ayton 23 points 12 rebounds paced the Suns Wizards 119 Cavaliers 106 Bobby Portis scored 30 points in his debut with Washington which beat visiting Cleveland to end a three game losing streak Obtained along with Jabari Parker in a trade with the Chicago Bulls for Otto Porter Jr earlier this week Portis made 12 of 18 field goal attempts Bradley Beal had 25 points and 13 assists for Washington Parker had seven points 11 rebounds nine assists and three steals in 23 minutes Collin Sexton scored 27 points and Jordan Clarkson added 24 for the Cavaliers who have lost three straight and 21 of 24 Forward Kevin Love returned after missing 50 games because of a left foot injury He started the game and played six minutes in his first action since Oct 24 scoring four points Pistons 120 Knicks 103 Andre Drummond collected 29 points and 20 rebounds and Blake Griffin had 26 points as host Detroit handed New York its 15th consecutive loss Drummond overcame early foul trouble to shoot 12 for 15 from the field while Griffin recorded the same numbers from the free throw line for the Pistons who scored a season high 41 points in the first quarter Detroit won for the fourth time in five games and produced its sixth straight victory versus New York Dennis Smith Jr scored 19 of his career high 31 points in the first half for the NBA worst Knicks who have dropped 23 of their past 24 games overall Smith shot 9 for 15 from the field and added a team high eight assists Bulls 125 Nets 106 Lauri Markkanen collected 31 points and 18 rebounds for his 10th double double of the season and fifth in six games as visiting Chicago led most of the way in beating Brooklyn Markkanen s third straight 30 point showing helped the Bulls snap a six game losing streak to the Nets and also win for the third time in 19 games since Dec 30 Otto Porter Jr helped the Bulls stretch the floor by contributing 18 points and hitting four 3 pointers in his team debut after being acquired from Washington on Wednesday D Angelo Russell scored 23 points for the Nets who lost for the fourth time in five games Kings 102 Heat 96 Buddy Hield scored 23 points and host Sacramento rallied from a 17 point third quarter deficit to defeat Miami Bogdan Bogdanovich added 16 points for the Kings who held Miami to a season low 13 fourth quarter points
Josh Richardson led Miami with 21 points and Hassan Whiteside added 17 points and 19 rebounds Dwyane Wade contributed 15 points the Heat who had their three game road winning streak snapped Field Level Media |
WMB | Top 25 roundup No 2 Duke beats No 3 Virginia again | In the second matchup between the top 5 teams in less than a month No 2 Duke prevailed again over host No 3 Virginia 81 71 on Saturday night in Charlottesville Va The Blue Devils never trailed and shot nearly 58 percent from the field while putting four players in double figures Freshman R J Barrett led all scorers with 26 points on 6 for 10 shooting from beyond the arc Duke 21 2 9 1 Atlantic Coast Conference made 13 of its 21 3 point attempts its second best output of the season from deep Virginia 20 2 8 2 made 10 3 pointers itself but was unable to get defensive stops a rarity for the Cavaliers who entered the game with the nation s top scoring defense No 1 Tennessee 73 Florida 61 Grant Williams NYSE WMB led four scorers in double figures with 16 points lifting the Volunteers past the Gators in Knoxville Tenn as Admiral Schofield added 14 points and six rebounds Tennessee 22 1 10 0 Southeastern Conference rolled to its 18th straight win Jordan Bowden scored 13 points off the bench while Jordan Bone had 10 points and five assists Tennessee spread the wealth with 17 assists to just 13 turnovers Noah Locke led Florida 12 11 4 6 with 17 points Jalen Hudson added 15 points off the bench and KeVaughn Allen scored 11 points but it wasn t enough for the Gators to avoid their third straight loss No 4 Gonzaga 94 St Mary s 46 Brandon Clarke scored a game high 24 points in just 23 minutes as the Zags stayed unbeaten in conference play with a dismantling of the visiting Gaels in Spokane Wash Clarke added six rebounds and three blocked shots for the Bulldogs 23 2 10 0 West Coast Conference who established a 53 20 halftime lead and never looked back Rui Hachimura added 18 points and seven boards in an efficient 24 minutes for the Zags Tommy Kuhse scored 12 points to pace the Gaels 15 10 6 4 and Malik Fitts added 11 No 5 Kentucky 71 Mississippi State 67 P J Washington scored 23 points and the Wildcats extended their winning streak to 10 games by defeating the Bulldogs in Starkville Miss The Wildcats 20 3 9 1 Southeastern Conference continued their roll toward home conference showdowns against No 21 LSU on Tuesday followed by No 1 Tennessee next Saturday Keldon Johnson added 13 and Tyler Herro had 12 points for Kentucky Lamar Peters scored 16 and Quinndary Weatherspoon added 14 to lead the Bulldogs 16 7 4 6 who twice got within four points before Washington s jumper gave the Wildcats a 70 64 lead with 1 29 remaining No 6 Nevada 91 New Mexico 62 Caleb Martin and Trey Porter each scored 20 points and Jordan Caroline added 13 points and 13 rebounds for the Wolf Pack who jumped out to a 29 point first half lead and cruised to their ninth straight victory with a win over the Lobos in Reno Nev It was the 15th double double of the season for the 6 foot 7 230 pound Caroline as Nevada 23 1 10 1 Mountain West avenged its only loss of the season back on Jan 5 It was a career high for the 6 foot 11 Porter who also grabbed a career high nine rebounds Makuach Maluach scored 19 points and Carlton Bragg added 13 points for New Mexico 10 13 4 7 which lost for the seventh time in nine games since its upset of the Wolf Pack The Lobos shot 33 3 percent and had 20 turnovers No 7 Michigan 61 No 19 Wisconsin 52 Charles Matthews had 18 points and Jon Teske tied career highs with 17 points and 12 rebounds as the Wolverines retained sole possession of first place in the Big Ten by cooling off the Badgers in Ann Arbor Mich The Wolverines 22 2 11 2 Big Ten avenged one of their two losses and remained undefeated at home Jordan Poole added 10 points and nine rebounds for the Wolverines while Isaiah Livers contributed nine points off the bench The Badgers 17 7 9 4 were led by Ethan Happ who racked up 18 points and 11 rebounds Nate Reuvers and Brad Davison had nine points apiece and D Mitrik Trice chipped in eight No 8 North Carolina 88 Miami 85 OT Coby White scored 33 points and the Tar Heels held off the Hurricanes upset bid in Chapel Hill N C as North Carolina scrambled to pull even in regulation and Luke Maye made a 3 point basket to force overtime Maye had 20 points for North Carolina 19 4 9 1 Atlantic Coast Conference which has won seven games in a row Kenny Williams hit a tiebreaking 3 point basket in the extra session and the Tar Heels led for the remaining 2 11 Chris Lykes ended up with 27 points Anthony Lawrence had 17 Johnson finished with 13 off the bench and Dejan Vasiljevic added 11 for Miami 10 13 2 9 which can finish 500 at best in the ACC regular season No 9 Michigan State 79 Minnesota 55 Nick Ward returned to the starting lineup and scored 22 points as the Spartans used their defense rebounding and transition game to end a three game losing streak with an easy win over the visiting Golden Gophers in East Lansing Mich Ward who was pulled from the lineup in Tuesday s loss to Illinois added nine rebounds Matt McQuaid scored 18 points and Cassius Winston had 11 points and nine assists for the Spartans 19 5 10 3 Big Ten who remained a game out of first place in the conference Minnesota 16 8 6 7 struggled to find any offensive rhythm as leading scorer Amir Coffey didn t register points in the box score until a dunk on a fast break with a little more than eight minutes to play He finished with four points while Jordan Murphy had just five points No 10 Marquette 66 No 14 Villanova 65 Markus Howard poured in 38 points and got just enough help from Sacar Anim as the Golden Eagles withstood a feverish Wildcats comeback attempt to win in Milwaukee Wis Anim scored 18 points 13 in the second half with five coming in the closing minutes to combat the Wildcats rally The win allowed the Golden Eagles 20 4 9 2 Big East to pull within one game of the Wildcats 19 5 10 1 who lost for the first time in the Big East this season Phil Booth scored 19 points including seven in the final 4 14 and Eric Paschall added 17 to lead Villanova which had a chance to win the game but missed a feeble shot as time expired Clemson 59 No 11 Virginia Tech 51 Shelton Mitchell scored 22 points and the Tigers blocked 12 Hokies shots for their first win against a ranked opponent this season as Marcquise Reed added 15 points in Clemson S C Clemson 15 8 5 5 Atlantic Coast Conference got its fourth consecutive victory in conference play following a 1 5 start and snapped a four game losing streak against Virginia Tech Kerry Blackshear Jr led the Hokies with 17 points while Nickeil Alexander Walker added 13 and Ty Outlaw scored 10 The Hokies 18 5 7 4 suffered their second straight loss No 13 Kansas 84 Oklahoma State 72 Ochai Agbaji scored 23 points and canned two 3 pointers during a decisive second half run as the Jayhawks downed the Cowboys in Lawrence Kan The performance marked the second time Agbaji recorded 20 plus points in the 10 games he has played since his freshman redshirt was shredded He triggered a 12 0 flurry that gave the Jayhawks 18 6 7 4 Big 12 a 65 51 lead with 9 48 remaining The Cowboys 9 14 2 8 lost their sixth straight conference game despite 22 points and six rebounds from junior forward Cameron McGriff who fouled out with 4 02 remaining No 15 Purdue 81 Nebraska 62 Carsen Edwards scored 27 points and sparked a 14 4 run at the beginning of the second half to lead the Boilermakers over the Cornhuskers in West Lafayette Ind Grady Eifert scored 16 points his first double digit game in his career Nojel Eastern added 12 and Ryan Cline 10 points for Purdue 17 6 10 2 Big Ten which won for the eighth straight time Thomas Allen came off the bench and scored 18 points to lead Nebraska 13 11 3 10 which lost its seventh consecutive game No 22 Florida State 80 No 16 Louisville 75 OT The Seminoles rallied from 10 points down in the second half forced overtime and ultimately prevailed against the Cardinals in Tallahassee Fla In overtime Louisville 17 7 8 3 ACC missed its first four shots and Florida State 18 5 6 4 hit its first four buckets racing out to a 73 65 edge and never looking back The Seminoles were led by 22 points from Mfiondu Kabengele while Terance Mann added 20 points Christen Cunningham led the Cardinals with 20 points and seven boards while Dwayne Sutton added 14 points and Jordan Nwora 13 TCU 92 No 17 Iowa State 83 Kendric Davis poured in a career high 22 points and Desmond Bane added 17 all of them in the second half as the Horned Frogs outlasted the Cyclones at Ames Iowa Kouat Noi hit for 17 points for TCU 15 of them in the first half and Alex Robinson also added 17 all but two after halftime The win was the second straight for the Horned Frogs 17 6 5 5 but just their first on the road in conference play The loss snapped a four game win streak for Iowa State 18 6 7 4 Big 12 Marial Shayok led all scorers with 24 points for the Cyclones while Michael Jacobson scored 16 Nick Weiler Babb hit for 15 points and Lindell Wigginton racked up 10 No 18 Texas Tech 66 Oklahoma 54 Davide Moretti scored 14 points to lead the Red Raiders over the Sooners in Norman Okla Texas Tech s fourth win in the last five games Three other Red Raiders scored in double figures including 13 from Jarrett Culver to keep Texas Tech 19 5 7 4 Big 12 within striking distance of the conference lead While Texas Tech is rising Oklahoma s hopes to make the NCAA Tournament continue to slip away The loss was the Sooners 15 9 3 8 fourth consecutive and sixth in the last eight games Rashard Odomes led the Sooners with 14 points No 21 LSU 83 Auburn 78 Tremont Waters scored 19 points including four 3 pointers and a pair of free throws with a half second left and backcourt mate Skylar Mays added a team high 20 points as LSU escaped with a victory over Auburn in Baton Rouge La LSU 19 4 9 1 SEC wiped out a 26 10 first half deficit with another impressive performance on the offensive boards but the Tigers nearly saw their 10 point lead with 2 39 left evaporate Auburn 16 7 5 5 was paced by guard Jared Harper with a game high 25 points No 23 Buffalo 90 Central Michigan 76 Jeremy Harris scored 15 of his 19 points in the first half as the Bulls overcame an early 18 point deficit to pound the visiting Chippewas as CJ Massinburg scored all 18 of his points in the second half Dontay Caruthers added 16 for the Bulls 20 3 8 2 Mid American Conference who improved to 10 0 at home
Shawn Roundtree scored a season high 26 points for Central Michigan 16 7 5 5 MAC West which has dropped four of its last six Field Level Media |
WMB | NBA roundup George s 45 tops Harden s 42 in MVP caliber matchup | Paul George outgunned James Harden in a matchup of MVP candidates and the Oklahoma City Thunder erased a 26 point deficit to escape with a 117 112 win over the host Houston Rockets on Saturday George finished with a game high 45 points plus 11 rebounds torching the Houston defense with six 3 pointers plus 15 for 18 free throws Westbrook matched an NBA record set by Wilt Chamberlain with his ninth consecutive triple double 21 points 12 rebounds and 11 assists The Thunder posted a 53 39 edge on the glass Harden totaled 42 points his 29th consecutive game with at least 30 but he missed a contested 3 pointer after Westbrook pushed the Thunder ahead Clippers 123 Celtics 112 Landry Shamet made four 3 pointers in the fourth quarter and scored 17 points off the bench in his debut for Los Angeles which rallied from a 28 point deficit to knock off host Boston It s the third time in the past five games the Clippers have come from at least 20 points down to win with the 28 point rally setting a franchise record It was also the largest comeback by any NBA team in the last two seasons Montrezl Harrell led Los Angeles with 21 points off the bench and Danilo Gallinari had 19 points and 10 rebounds Gordon Hayward scored 19 points off the bench to lead the Celtics who lost leading scorer Kyrie Irving to a right knee sprain with about four minutes left in the first half Hornets 129 Hawks 120 Kemba Walker was 13 for 27 from the field and 9 for 17 on 3 pointers in reaching the 30 point mark for the fourth straight game scoring 37 as Charlotte defeated host Atlanta It was the 40th time that Walker has topped 20 points and the 17th time he s scored at least 30 this season He added seven assists Charlotte s Marvin Williams NYSE WMB came back to haunt his former team with 27 points Atlanta was led by John Collins with 21 points and rookie Trae Young added 20 points and 11 assists Pacers 105 Cavaliers 90 Bojan Bogdanovic led a balanced offense with 23 points the fifth time in his last six games he has topped 20 points as host Indiana avenged a home loss in December to the Cavaliers Cory Joseph came off the bench to finish with 10 points nine rebounds and 10 assists Domantas Sabonis did not score in the first half but finished with 13 points and 10 rebounds also off the bench Reserve Jordan Clarkson scored 18 points to lead Cleveland which has lost four straight and 10 of its last 12 Grizzlies 99 Pelicans 90 Joakim Noah had 19 points and 14 rebounds as host Memphis playing its first home game since making two trades at Thursday s deadline defeated New Orleans Justin Holiday added 15 points rookie Jaren Jackson Jr scored 14 newcomer CJ Miles had 13 Mike Conley 11 and Ivan Rabb 10 Miles and Delon Wright who were part of the trade that sent Marc Gasol to Toronto made their debuts as did guard Avery Bradley who was acquired in a separate deal with the Clippers Julius Randle led the Pelicans with 21 points Jrue Holiday had 15 Anthony Davis had 14 points and 16 rebounds and rookie Kenrich Williams had 10 points and 13 rebounds Wizards 134 Bulls 125 Jabari Parker and Bobby Portis made a triumphant return to Chicago helping Washington win its second straight game The meeting was the first since Washington acquired Parker and Portis from Chicago at the trade deadline for Otto Porter Jr All three played significant roles when their two new clubs won the front end of back to backs on Friday with the Wizards beating Cleveland at home while the Bulls surprised Brooklyn on the road Parker had 20 points and Portis had a game high 12 rebounds in Saturday s win during which the Wizards built a 15 point lead in the first half and kept the Bulls at arm s length the rest of the way Porter who made a pair of 3 pointers finished with 17 points for Chicago Raptors 104 Knicks 99 Kyle Lowry scored a game high 22 points and hit a 3 pointer with 7 03 remaining that gave Toronto the lead for good in fending off host New York Serge Ibaka registered a double double 15 points and 13 rebounds for the Raptors who have won four consecutive games Marc Gasol playing his first game for the Raptors since he was acquired from the Memphis Grizzlies on Thursday scored seven points and pulled down six rebounds in 19 minutes as a reserve Kevin Knox scored 20 points and DeAndre Jordan posted a double double with 10 points and 18 rebounds for the Knicks who tied a franchise record by losing their 16th straight game Jazz 125 Spurs 105 Donovan Mitchell scored 23 points and Rudy Gobert added 21 points and 13 rebounds to lead host Utah to its second straight win while sending San Antonio to its fourth straight loss in Salt Lake City Utah Royce O Neale matched his season high with 17 points off the bench as the Jazz had six players score in double figures DeMar DeRozan scored 23 points and LaMarcus Aldridge added 15 to lead the Spurs Magic 103 Bucks 83 Orlando took advantage of the absence of Giannis Antetokounmpo snapping host Milwaukee s six game winning streak Jonathan Isaac led the Magic in scoring for the first time this season with 17 points Eric Bledoe led Milwaukee with 19 points 11 rebounds and five assists and Malcolm Brogdon added 14 points It was Milwaukee s most lopsided loss and the fewest points they ve scored all season
Orlando has won four of its last five and is now 2 1 2 games out of the eighth seed in the Eastern Conference Field Level Media |
WMB | Splits across the Irish border Garage frets for post Brexit future | By Helena Williams NYSE WMB CLONES Ireland Reuters Weeks before Britain is due to leave the European Union the owner of a filling station and hardware store that straddles the only land border between the two jurisdictions has given up trying to prepare Eamon Fitzpatrick whose service station is partly in Ireland and partly in the British province of Northern Ireland fears he may have to change his business and push up prices after Brexit which could also trigger a revival of smuggling But he says he can hardly prepare because he has no idea which scenario will play out on March 29 a chaotic exit a delay or a smooth transition period It s like asking somebody There s a 10 horse race which horse is gonna win Policy U turns have gone from monthly to daily he said Up until these last six or eight months I took a greater interest in it to see what was going on or trying to follow it Now I ve kind of given up A survey published on Monday by Allied Irish Banks suggested he was not alone finding that over 50 percent of small and medium businesses in Ireland and Northern Ireland had not even started preparing for Brexit Fitzpatrick s station which employs 20 people has been running for two decades and has more than once taken advantage of currency and tax fluctuations to offer cheaper fuel to people on one side of the border or the other Ireland uses euros Britain pounds EUROS OR POUNDS SIR Ireland s accession to the European bloc in 1973 removed the need for customs checks on the border And a 1998 peace pact was based in part on removing the security checks designed to prevent both the militant incursions and cross border smuggling that had bedevilled Northern Ireland during more than two decades of fighting between Irish nationalist and British unionist militias Since then the 500 km 300 mile border has been all but invisible a boon for trade friendships and those using the roads that snake back and forth across the winding frontier People in the border area often go around with sterling in one pocket and euro in the other Some people cross the border a dozen times a day Now it is the effort to prevent the return of a hard border that has proved the biggest sticking point in Britain s attempts to negotiate a smooth phased exit from the EU on March 29 If it fails and Britain crashes out Ireland will have little choice but to restore customs checks in short order In the worst case scenario of a hard Brexit Fitzpatrick fears he may have to physically separate the fuel pumps and hardware stores on either side of the border He jokes that he may have to build a Trump style border wall Not that there has been any official support to prepare for Brexit for the firm or its neighbors Fitzpatrick said There s nobody getting help whatsoever And he is still not convinced that even on March 29 the shape of the border will be clear
A week s a long time as you talk about in politics The week either side of March 29 could be a hell of a long time |
VZ | What Makes Verizon VZ A New Buy Stock | Verizon Communications VZ could be a solid choice for investors given its recent upgrade to a Zacks Rank 2 Buy This upgrade primarily reflects an upward trend in earnings estimates which is one of the most powerful forces impacting stock prices
The Zacks rating relies solely on a company s changing earnings picture It tracks EPS estimates for the current and following years from the sell side analysts covering the stock through a consensus measure the Zacks Consensus Estimate
Since a changing earnings picture is a powerful factor influencing near term stock price movements the Zacks rating system is very useful for individual investors They may find it difficult to make decisions based on rating upgrades by Wall Street analysts as these are mostly driven by subjective factors that are hard to see and measure in real time
Therefore the Zacks rating upgrade for Verizon basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in 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
For Verizon rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company s underlying business And investors appreciation of this improving business trend should push 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 75 per share which is a change of 0 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 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 | AT T reveals three more cities for 5G launch by end of year | By Sheila Dang Reuters AT T Inc NYSE T on Friday named Oklahoma City Charlotte and Raleigh North Carolina as three more cities where it plans launch its next generation wireless network or 5G by the end of the year The competition to launch a 5G network is heating up as AT T s smaller rivals T Mobile US Inc and Sprint Corp plan to merge to better invest in its network and the largest U S wireless carrier Verizon Communications Inc NYSE VZ recently named its chief technology officer to lead the company signaling it will focus more on building 5G AT T Chief Technology Officer Andre Fuetsch said in an interview the mobile 5G network is expected to launch toward the end of the year but declined to specify a date AT T previously said Atlanta Dallas and Waco Texas would also have mobile 5G by the end of the year as well as six more cities that have yet to be named The cities were chosen based on where the company already held spectrum or airwaves that carry data and were open to AT T installing the necessary infrastructure Fuetsch said We worked with the cities that embraced the technology he said Because 5G enabled smartphones are not expected to be available until 2019 AT T plans to introduce a puck shaped device to allow users to access the 5G network with their current phones |
VZ | Verizon Reports Better Than Expected Q2 EPS Shares Rise | Investing com Shares in Verizon rose in pre market trade on Tuesday as the firm reported better than expected second quarter results
The firm reported adjusted earnings per share of 1 20 in the April to June period
Analysts had forecast 1 14 per share
Meanwhile the company s reported a 5 4 increase in total consolidated operating revenues to 32 2 billion
The firm did explain that on a comparable basis excluding the impacts of Oath divested businesses and the revenue recognition standard non GAAP consolidated revenues were 30 2 billion up approximately 2 6
Analysts had forecast revenues of 31 73 billion
CEO Lowell McAdam Verizon s chairman and chief executive officer stated that the company was well positioned for the future
Our financial and operating results for the first half of 2018 were strong as evidenced by service revenue earnings and operating cash flow growth delivered in a highly competitive marketplace he explained
For 2018 the company said it expected full year consolidated revenue growth at low to mid single digit percentage rates on a GAAP reported basis
This update to full year guidance is due to better than expected equipment revenue trends the press release said
At 7 37 AM ET 11 37 GMT shares in Verizon NYSE VZ gained 2 36 to 51 95 compared to the previous closing price of 50 75
Traders will now turn their attention to the firm s conference call due to start at 8 30 AM ET 14 30GMT |
WMB | NBA roundup Irving shines as Celtics snap Thunder s streak | Kyrie Irving racked up 30 points and 11 assists to lead the Boston Celtics to a 134 129 win over the Oklahoma City Thunder at home on Sunday The win was the fourth consecutive and the ninth in the last 10 for the Celtics The Thunder s seven game winning streak was snapped Irving hit a floater with 23 seconds remaining with the Celtics clinging to a two point lead He drove past Terrance Ferguson and let go of the floater over the outstretched arms of Thunder 7 footer Steven Adams Russell Westbrook coming over to help got his finger on the shot but it fell through the basket to extend Boston s lead Paul George led the Thunder with 37 points but was just 5 of 16 from behind the 3 point line Westbrook had a monster game once again 22 points 16 assists and 12 rebounds but his critical turnover with 8 1 seconds left and Oklahoma City down by two helped Boston escape with the win Raptors 121 Clippers 103 Serge Ibaka scored 16 points and grabbed 12 rebounds as Toronto defeated visiting Los Angeles Kawhi Leonard added 18 points and five rebounds for the Raptors who swept the two game season series between the teams Pascal Siakam and CJ Miles each scored 15 points and Delon Wright chipped in with 14 points off the bench for Toronto Shai Gilgeous Alexander scored 19 points for the Clippers who have split the first two games of a six game trip Lou Williams NYSE WMB added 18 points Tobias Harris had 13 Patrick Beverley 12 and Montrezl Harrell who fouled out in the fourth quarter and Boban Marjanovic who had nine rebounds each scored 10 points Grizzlies 96 Knicks 84 Mike Conley returned from a minor knee injury and scored 25 points as Memphis dominated the second half of a victory over New York whose home losing streak reached a team record 15 games Conley sat out Friday s loss in Charlotte with left knee soreness and was questionable for Sunday but returned and helped the Grizzlies win for the third time in their last 20 games since Dec 26 The veteran guard recorded his 12th game with at least 25 points shot 9 of 17 and also totaled eight rebounds and seven assists Marc Gasol added 24 points and nine rebounds as Memphis outscored New York 54 43 in the second half
The Knicks also saw their overall losing streak reach 13 games and fell to 2 26 in their last 28 games since their last home win on Dec 1 over the Milwaukee Bucks Field Level Media |
WMB | British lawmakers say highest Saudi authorities may be responsible for activists torture | LONDON Reuters Three British lawmakers on Monday endorsed reports that women activists detained in Saudi Arabia have been tortured and said responsibility for what is likely a violation of international law could lie with Saudi authorities at the highest level The conclusions of the panel indicate growing uneasiness among Western allies with alleged rights abuses under Crown Prince Mohammed bin Salman the kingdom s de facto leader who already facing opprobrium over last year s murder of journalist Jamal Khashoggi A United Nations investigator is now leading an international inquiry into the murder which has tarnished the crown prince s standing in the West after he won accolades for seeking to ease social restrictions and end the country s dependence on oil revenues Those reforms have been accompanied by a crackdown on dissent including the arrest of over a dozen women s rights campaigners starting last May most of whom had advocated for the right to drive and an end to the male guardianship system Amnesty International said last month it had documented 10 cases of torture and abuse including sexual harassment electrocution flogging and death threats while the activists were held at an undisclosed location last summer Reuters reported earlier that an aide to Prince Mohammed who was fired for his role in the Khashoggi murder personally oversaw the torture of at least one of the women months earlier Saudi Arabia an absolute monarchy where public protests and political parties are banned says it does not have political prisoners and denies torture allegations Officials have said monitoring of activists is needed to ensure social stability Yet British lawmakers Crispin Blunt Layla Moran and Paul Williams NYSE WMB said they found reports by international rights groups and news media to be credible describing the detainees treatment as cruel inhuman and degrading The lawmakers who formed a review panel with prominent lawyers said the Saudi authorities had also violated international law by holding the detainees incommunicado and denying them access to legal advice Culpability rests not only with direct perpetrators but also those who are responsible for or acquiesce to it they added The Saudi authorities at the highest levels could in principle be responsible for the crime of torture their final report said The Saudi government communications office did not reply to a request for comment on the report Some of the detained women s rights activists have been accused in Saudi media of belonging to the outlawed Muslim Brotherhood and supporting Qatar which is locked in a dispute with Riyadh The British lawmakers called on the Saudi authorities to immediately release them and review the allegations against them and to prosecute those responsible for their mistreatment They said requests to visit the detainees in Saudi Arabia have gone unanswered The Saudi women activist detainees have been treated so badly as to sustain an international investigation for torture said Blunt a lawmaker in Prime Minister Theresa May s Conservative Party
Saudi Arabia stands on the brink It is not too late to alter course and avert the spiral downwards to catastrophe that the detention of these activists represents he said |
WMB | Record Foreign Buying of Saudi Stocks as Khashoggi Woes Fade | Bloomberg Foreigners made their highest net purchases of Saudi shares on record last month as the inclusion of local stocks in major benchmarks outweighed concerns sparked by the killing of Jamal Khashoggi
Investors from outside the country and the Gulf were net buyers of around 4 4 billion riyals 1 17 billion of Saudi listed stocks in January the most for a single month since data became available in 2015 International funds are seeking to build exposure as some of the stocks will be added to emerging market indexes compiled by MSCI Inc and FTSE Russell Local funds on the other hand are buying less
The purchases mark a change in trend after a selloff triggered by the killing of Khashoggi inside the Saudi consulate in Istanbul last October Back then foreigners sold the most for a single month since they were allowed to directly trade in the country As volatility surged funds tied to the government were constantly mentioned by traders and investors as giving support to the market by purchasing mostly large caps The main Saudi index is up 8 9 percent this year
Investors jumping at Saudi stocks now are finding high prices and an economic scenario that doesn t corroborate expensive valuations according to Tina Byles Williams NYSE WMB and Adam Choppin respectively the chief executive officer and investment officer at FIS Group Inc
Speculation around huge foreign inflows are based on naive assumptions about how index providers and ETF issuers trade through such events and we believe those waiting for dumb passive money in Saudi will be kept waiting come fall 2019 they wrote in a report Following index inclusion we expect to see a fair degree of selling pressure as state affiliated Saudi investors use the inclusion as a liquidity event for chunks of their Saudi equity portfolio
Updates with stock performance this year to 3rd paragraph |
WMB | Tennis Halep appoints Belgian Van Cleemput as new coach | Reuters Former world number one Simona Halep has appointed Thierry Van Cleemput as her new coach and will officially begin working with the Belgian at next week s Qatar Open Halep had planned to fly solo for the first few months of 2019 after former coach Darren Cahill left to spend more time with his family in Australia French Open champion Halep began speaking with Van Cleemput at last month s Australian Open after he split with world number 21 David Goffin midway through the tournament according to a report on the WTA website Van Cleemput had worked with his compatriot for the last five years overseeing Goffin s rise to the top 10 World number three Halep whose pre season was shortened due to a back issue made the fourth round at Melbourne Park where she lost to American Serena Williams NYSE WMB in three sets
Halep will represent Romania in their Fed Cup tie against Czech Republic in Ostrava this weekend before tournaments in Doha and Dubai |
WMB | NBA roundup George Westbrook power Thunder | Paul George scored 39 points and Russell Westbrook s triple double streak continued as the host Oklahoma City Thunder beat the Orlando Magic 132 122 on Tuesday night Orlando led by 12 early in the third quarter but the Thunder outscored the Magic 31 13 over the final nine minutes of the quarter and led 111 97 three minutes into the fourth Westbrook finished with 16 points 15 rebounds and 16 assists clinching his seventh consecutive triple double by the end of the third quarter It s the third such streak in Westbrook s career Only Wilt Chamberlain Oscar Robertson and Michael Jordan have had at least seven consecutive triple doubles Chamberlain holds the NBA record with nine in a row Terrence Ross had 26 points off the bench to lead Orlando while Evan Fournier added 25 Clippers 117 Hornets 115 Tobias Harris scored 34 points and hit a driving 8 footer with 4 3 seconds remaining and Los Angeles rallied from a 20 point third quarter deficit to stun host Charlotte Harris drove the lane after the Clippers inbounded with the score tied 115 115 and he pulled up and hit the jumper over Kemba Walker Marvin Williams NYSE WMB then missed a potentially winning 3 pointer for the Hornets at the buzzer Walker led the Hornets with 32 points Celtics 103 Cavaliers 96 Jayson Tatum scored 25 points and Gordon Hayward scored 18 points off the bench to lead Boston to a win at Cleveland Marcus Smart added 17 points and Jaylen Brown 13 and seven rebounds for Boston which won its fifth straight game Rookie Collin Sexton led the Cavaliers with 27 points Alec Burks added 21 points for Cleveland which lost for the eighth time in 10 tries Raptors 119 76ers 107 Kawhi Leonard scored 24 points Kyle Lowry and Serge Ibaka added 20 apiece and Toronto won at Philadelphia Ibaka also contributed 10 rebounds and Pascal Siakam had 16 points for the Raptors who improved to 17 11 on the road this season Joel Embiid led the Sixers with 37 points and 13 rebounds for his league best 44th double double this season Ben Simmons added 20 points and Jimmy Butler had 18 for the Sixers who lost for just the sixth time in 27 home games this season Grizzlies 108 Timberwolves 106 Mike Conley recorded 25 points nine assists and three steals amid increased trade speculation and Memphis posted a victory over visiting Minnesota Justin Holiday 17 points nine rebounds made two free throws with 0 1 seconds left to give the Grizzlies their second straight victory after they lost 17 of their previous 19 games Jaren Jackson Jr added 23 points and Ivan Rabb scored a career high 19 points and matched his season best of 11 rebounds for Memphis Karl Anthony Towns registered 26 points and 18 rebounds and Dario Saric added 22 points for Minnesota which has lost four of its last five games Pistons 105 Knicks 92 Blake Griffin totaled 29 points eight assists and six rebounds and Detroit never trailed in a victory over New York which saw its home losing streak reach 15 games Griffin helped the Pistons win for only the 11th time in their last 33 games and they won consecutive games for just the second time since then Reggie Bullock hit five 3 pointers and added 19 points for Detroit before postgame reports indicated he was about to be traded to the Los Angeles Lakers Dennis Smith Jr led the Knicks with 25 points Pacers 136 Lakers 94 Bojan Bogdanovic bombed in four of Indiana s 19 3 pointers in a rout of Los Angeles at Indianapolis The Pacers captured their third victory in a row after a four game losing streak Engulfed in Anthony Davis trade rumors the Lakers lost their second straight Connecting on 4 for 10 on 3 pointers Bogdanovic led seven Pacers in double figures with a game high 24 points Myles Turner chipped in with 22 points Returning from a one game absence LeBron James had 18 points seven rebounds and nine assists Heat 118 Trail Blazers 108 Hassan Whiteside collected 28 points and 11 rebounds as visiting Miami took down Portland Dwyane Wade came off the bench for 22 points and nine rebounds and Josh Richardson scored 18 points for the Heat who ended a three game losing streak
CJ McCollum scored 33 points and Jake Layman added a career high 25 points with eight rebounds for the Trail Blazers who saw their eight game home winning streak end Field Level Media |
WMB | Top 25 roundup KSU upsets No 13 Kansas | Kansas State used a strong second half to defeat No 13 Kansas 74 67 in the 290th version of the Sunflower Showdown on Tuesday night at Manhattan Kan The Wildcats 17 4 7 2 Big 12 took the lead with 16 39 to go on a 3 pointer by Barry Brown Jr Although Kansas cut the lead to one point on several occasions it never could take the lead again Kansas State outscored the Jayhawks 44 34 after intermission Brown led Kansas State with 18 points and Xavier Sneed added 14 Kansas 17 6 6 4 got 18 points from Dedric Lawson and 13 from Devon Dotson The road has been a challenge for Kansas this season The Jayhawks are now just 1 4 in Big 12 road games 1 6 overall on opposing teams courts No 1 Tennessee 72 Missouri 60 Grant Williams NYSE WMB and Admiral Schofield scored 13 points apiece and the Volunteers extended their school record winning streak to 17 games with a victory over the Tigers in Knoxville Tenn Jordan Bowden added 12 points and Jordan Bone recorded 11 points and seven assists for the Volunteers 21 1 9 0 Southeastern Conference It is the first time Tennessee has ever started SEC play with nine straight wins Javon Pickett scored 12 points for Missouri but was just 5 of 18 from the field Jordan Geist added 11 points and Xavier Pinson registered 10 points and eight rebounds for the Tigers 11 10 2 7 No 2 Duke 80 Boston College 55 Cam Reddish scored a team high 24 points Zion Williamson added 16 points and 17 rebounds and the Blue Devils overcame a slow start for a win over the Eagles in Durham N C Duke 20 2 8 1 Atlantic Coast Conference trailed by two points at halftime but posted a 52 25 advantage in the second half to increase its winning streak to six RJ Barrett contributed 19 points for the Blue Devils Jordan Chatman scored 16 points to lead Boston College 11 10 2 7 which lost for the eighth time in its last 10 games No 5 Kentucky 76 South Carolina 48 PJ Washington scored 20 points as the Wildcats won their ninth consecutive game defeating the Gamecocks in Lexington Ky Tyler Herro and Reid Travis had 11 points apiece and EJ Montgomery added 11 points and 13 rebounds off the bench for Kentucky 19 3 8 1 SEC The Wildcats broke open a fairly competitive game early in the second half Tre Campbell and A J Lawson scored 12 points each to lead South Carolina 11 11 6 3 which scored only 20 second half points No 7 Michigan 77 Rutgers 65 Ignas Brazdeikis scored 23 points and the Wolverines bounced back from their second loss of the season by downing the Scarlet Knights in Piscataway N J Jordan Poole scored 15 points and Zavier Simpson had 14 points seven rebounds and seven assists for the Wolverines 21 2 10 2 Big Ten who lost at Iowa 74 59 on Friday John Beilein celebrated his 66th birthday by capturing his 121st Big Ten win passing Johnny Orr for the most by a Michigan coach Eugene Omoruyi led Rutgers 11 11 4 8 with 21 points and Montez Mathis had 12 points and five assists No 8 North Carolina 113 North Carolina State 96 Luke Maye scored 31 points as the Tar Heels completed a regular season season sweep of the Wolfpack in Chapel Hill N C Coby White added 21 points while Kenny Williams and Cameron Johnson both posted 17 points for the Tar Heels who have a six game winning streak North Carolina 18 4 8 1 ACC pulled into a first place tie with Virginia and Duke Braxton Beverly scored 17 points for NC State which earlier in the week dropped out of the national rankings for the first time since mid December The Wolfpack 16 7 4 6 lost their third game in a row all against nationally ranked teams Illinois 79 No 9 Michigan State 74 The Fighting Illini forced the Spartans into a season high 24 turnovers built a double digit lead early in the second half then held off a furious rally to pull off the victory in Champaign Ill With the game tied at 68 in the final minutes Ayo Dosunmu who led all scorers with 24 points nailed two straight 3 pointers to help the Fighting Illini put the game away Giorgi Bezhanishvili added 16 points for Illinois 8 15 4 8 Big Ten while Trent Frazier scored 15 and Andres Feliz chipped in 10 Cassius Winston scored 21 to lead Michigan State The Spartans 18 5 9 3 have lost three straight for the first time since January 2017 St John s 70 No 10 Marquette 69 Shamorie Ponds scored 19 of his 28 points in the second half and hit the game winning layup with 20 seconds left as the Red Storm edged the Golden Eagles in Milwaukee Ponds scored the last 10 points for St John s 17 6 5 5 Big East which blew a 15 point lead Marquette 19 4 8 2 had two possessions in the final seconds but couldn t get the winning basket Sam Hauser scored 19 points for the Golden Eagles who saw their eight game winning streak end No 22 Florida State 80 Syracuse 62 Terance Mann scored 22 points and Mfiondu Kabengele added 18 as the Seminoles posted a win at Syracuse Florida State 17 5 5 4 ACC went 8 for 13 from 3 point range in the opening 20 minutes and finished 11 for 22 from long range to record its fourth win in a row
Tyus Battle scored 16 of his team leading 23 points in the first half for the Orange 16 7 7 3 who saw just four players contribute on the scoreboard Field Level Media |
VZ | Why The Earnings Surprise Streak Could Continue For Verizon VZ | Have you been searching for a stock that might be well positioned to maintain its earnings beat streak in its upcoming report It is worth considering Verizon Communications VZ which belongs to the Zacks Wireless National industry
When looking at the last two reports this largest U S cellphone carrier has recorded a strong streak of surpassing earnings estimates The company has topped estimates by 2 66 on average in the last two quarters
For the most recent quarter Verizon was expected to post earnings of 1 17 per share but it reported 1 20 per share instead representing a surprise of 2 56 For the previous quarter the consensus estimate was 1 09 per share while it actually produced 1 12 per share a surprise of 2 75
Price and EPS Surprise
For Verizon estimates have been trending higher thanks in part to this earnings surprise history And when you look at the stock s positive Zacks Earnings ESP Expected Surprise Prediction it s a great indicator of a future earnings beat especially when combined with its solid Zacks Rank
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank 3 Hold or better produce a positive surprise nearly 70 of the time In other words if you have 10 stocks with this combination the number of stocks that beat the consensus estimate could be as high as seven
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change The idea here is that analysts revising their estimates right before an earnings release have the latest information which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier
Verizon has an Earnings ESP of 4 35 at the moment suggesting that analysts have grown bullish on its near term earnings potential When you combine this positive Earnings ESP with the stock s Zacks Rank 2 Buy it shows that another beat is possibly around the corner
When the Earnings ESP comes up negative investors should note that this will reduce the predictive power of the metric But a negative value is not indicative of a stock s earnings miss
Many companies end up beating the consensus EPS estimate but that may not be the sole basis for their stocks moving higher On the other hand some stocks may hold their ground even if they end up missing the consensus estimate
Because of this it s really important to check a company s Earnings ESP ahead of its quarterly release to increase the odds of success Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they ve reported |
VZ | Is Verizon Communications VZ Outperforming Other Computer And Technology Stocks This Year | For those looking to find strong Computer and Technology stocks it is prudent to search for companies in the group that are outperforming their peers Has Verizon Communications VZ been one of those stocks this year A quick glance at the company s year to date performance in comparison to the rest of the Computer and Technology sector should help us answer this question
Verizon Communications is a member of our Computer and Technology group which includes 640 different companies and currently sits at 5 in the Zacks Sector Rank The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors
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
Within the past quarter the Zacks Consensus Estimate for VZ s full year earnings has moved 1 85 higher This shows that analyst sentiment has improved and the company s earnings outlook is stronger
According to our latest data VZ has moved about 3 40 on a year to date basis In comparison Computer and Technology companies have returned an average of 21 71 As we can see Verizon Communications is performing better than its sector in the calendar year
Looking more specifically VZ belongs to the Wireless National industry which includes 16 individual stocks and currently sits at 66 in the Zacks Industry Rank On average stocks in this group have gained 13 28 this year meaning that VZ is slightly underperforming its industry in terms of year to date returns
Going forward investors interested in Computer and Technology stocks should continue to pay close attention to VZ as it looks to continue its solid performance |
VZ | Verizon Unveils Solution To Better Manage Customer Networks | Verizon Communications Inc s NYSE VZ operating segment Verizon Business Group recently announced the launch of Virtual Network Services VNS Wide Area Network WAN Optimization with ONEx The feat marking the latest addition to the company s VNS portfolio is likely to help companies around the globe better utilize their network resources Reportedly Verizon s VNS solution makes it easier for customers to manage their global network resources and collaborate worldwide In fact the company joined forces with Hitachi High Technologies America Inc HTA for this cutting edge solution HTA is a privately owned global affiliate company that operates within the Hitachi Group Companies The path breaking network optimization solution unlike traditional WAN optimization solutions increases global enterprise data transmission without the need for endpoint software installation or hardware It also facilitates enterprises to easily distribute bandwidth intensive documents to any device Markedly the ONEx WAN solution which is distributed by HTA uses Hitachi s patented algorithm to serve as a WAN accelerator and capitalizes on unused bandwidth to help improve data mobility across an enterprise s global network Verizon s VNS WAN Optimization solutions use WAN accelerators to help expedite communications between the server and receiving device They use data compression so that more information can be sent and data scaling which uses shorthand pointers for fast transmission The solution helps dynamically accelerate app delivery and performance across WAN with network functions virtualization It allows deploying multiple functions on a single universal customer premises equipment appliance virtual CPE from Verizon Cloud or a combination of both Verizon s VNS portfolio is currently available in more than 60 countries and is offered as a fully integrated end to end service chain Verizon has long term earnings growth expectation of 4 3 Primarily led by healthy traction in the wireless business the stock has rallied 9 9 compared with the s growth of 9 8 in the past year Verizon currently carries a Zacks Rank 2 Buy Some other top ranked stocks in the broader industry are Harmonic Inc NASDAQ HLIT Airgain Inc NASDAQ AIRG and EXFO Inc NASDAQ EXFO While Harmonic currently sports a Zacks Rank 1 Strong Buy Airgain and EXFO carry a Zacks Rank 2 You can see Harmonic has long term earnings growth expectation of 8 8 Airgain surpassed earnings estimates in each of the trailing four quarters the average positive surprise being 119 4 EXFO surpassed earnings estimates twice in the trailing four quarters the average positive surprise being 9 4 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 | Sprint T Mobile defend proposed tie up before U S Senate panel | By David Shepardson WASHINGTON Reuters T Mobile s planned 26 billion acquisition of rival mobile phone carrier Sprint Corp would add jobs and would not hike prices top executives of the two companies testified before a U S Senate panel on Wednesday The two companies which are the third and fourth largest wireless carriers agreed to the all stock deal in April which they said would create thousands of jobs and help the United States beat China to creating the next generation 5G mobile network The chief executive of T Mobile John Legere told a Senate Judiciary Committee panel that oversees antitrust issues that much larger rivals AT T Inc NYSE T and Verizon Communications Inc NYSE VZ have advantages that the two companies cannot address without combining They are much larger and more diversified so they have a significantly better cost structure Legere said Verizon and AT T have scale and asset advantages that even our best offerings cannot overcome He said it would be the complete annihilation of the brand if a combined T Mobile Sprint acted like its larger rivals Sprint Executive Chairman Marcelo Claure said the company had lost over 25 billion in the past decade its headcount fell from 40 000 in 2011 to 30 000 in 2017 and it has 32 billion in debt even as it became net income positive last year for the first time in 11 years We still are unable to spend at parity with Verizon and AT T much less catch up to their previous investments Claure said The U S Justice Department and the Federal Communications Commission are reviewing the merger Gene Kimmelman president and chief executive of Public Knowledge an advocacy group for an open internet and affordable communications tools told the committee that approving the merger rather than forcing T Mobile to fight for customers will eliminate the combined company s need to disrupt the market and create an incentive to maintain the existing market structure Kimmelman said countries that have gone from four to three wireless carriers have higher prices for wireless service citing Canada as an example Senator Amy Klobuchar the ranking Democrat on the committee asked if the combined carrier could hike prices to just below what AT T and Verizon charge and retain customers Claure denied that In order for us to gain market share with the new network that is going to be built we re going to have to lower prices in order to be able to fill that capacity he said Legere said the combined company would hike overall employment but acknowledged that there would be a reduction of 3 295 full time retail jobs through 2024 along with other part time and distributor job losses even as he rejected union forecasts of much larger losses |
VZ | Verizon to shut down award winning go90 mobile video app company | Reuters Verizon Communications Inc NYSE VZ is shutting down its mobile video service go90 less than three years after it launched a company spokeswoman said Verizon s aim was to boost revenue through data usage and targeted advertising from well known brands but go90 struggled to find a sustained audience and was later put under the umbrella of Verizon s subsidiary Oath Inc Go90 had won awards for its content including an Oscar in 2018 for Kobe Bryant s animated film Dear Basketball Following the creation of Oath go90 will be discontinued a company spokeswoman said in an email Verizon will focus on building its digital first brands at scale in sports finance news and entertainment for today s mobile consumers and tomorrow s 5G applications Oath was created by Verizon in 2017 after it merged Yahoo NASDAQ AABA with AOL Representatives of go90 have begun informing content providers about plans to end both the go90 brand and the video streaming app by July 31 online magazine Digiday reported earlier on Thursday citing four sources familiar with the situation
It said go90 will return shows and content rights back to its production partners Verizon has spent about 1 2 billion on Go90 since its 2015 launch Digiday reported citing two sources |
WMB | NBA roundup LeBron returns lifts Lakers in OT | LeBron James returned to action and scored 24 points to help the Los Angeles Lakers to a 123 120 overtime win against the host Los Angeles Clippers on Thursday night James who missed the previous 17 games due to a groin injury sustained in a Christmas night win against the Golden State Warriors also matched his season high with 14 rebounds and distributed nine assists while playing 40 minutes Lance Stephenson matched his career high with five 3 pointers on eight attempts and scored 20 points off the Lakers bench Brandon Ingram added 19 points and Rajon Rondo had 14 points 13 rebounds and seven assists for the Lakers Lou Williams NYSE WMB scored 24 points off the bench to lead the Clippers who had won 22 of their previous 25 matchups against the Lakers Patrick Beverley had 17 points and eight rebounds and Tobias Harris and Montrezl Harrell scored 15 apiece 76ers 113 Warriors 104 Joel Embiid scored 11 of his 26 points in the third quarter as Philadelphia built a lead and held off Golden State in Oakland Calif The win snapped the 76ers 10 game losing streak against the Warriors that dated back to the 2013 14 season It also ended Golden State s 11 game winning streak this season Embiid completed a double double with a game high 20 rebounds while Ben Simmons contributed 26 points eight rebounds and six assists for Philadelphia Golden State s Stephen Curry bombed in a game high 41 points making 10 3 pointers and Kevin Durant scored 25 points Pistons 93 Mavericks 89 Andre Drummond recorded his eighth 20 20 game of the season with 24 points and 20 rebounds and host Detroit escaped with a win over depleted Dallas Blake Griffin who was named as an All Star reserve earlier in the day supplied 24 points 10 rebounds and six assists for Detroit Reggie Jackson had 17 points nine assists and seven rebounds and Langston Galloway added 11 points off the bench The Mavericks were missing four of their usual starters DeAndre Jordan Dennis Smith Jr and Wesley Matthews were traded to the New York Knicks prior to the game in a blockbuster deal Rookie sensation Luka Doncic sat out due to left ankle soreness Harrison Barnes the lone remaining regular led Dallas with 27 points Bucks 105 Raptors 92 Giannis Antetokounmpo scored 19 points and grabbed nine rebounds despite picking up his fifth foul early in the fourth quarter and visiting Milwaukee defeated Toronto The Bucks won the season series 3 1 in meetings between the top two teams in the Eastern Conference standings First place Milwaukee earned its eighth win in nine games overall while second place Toronto fell to 1 3 in its past four games Khris Middleton selected a first time All Star earlier Thursday added 18 points for Milwaukee Pascal Siakam scored 28 points for the Raptors while Kawhi Leonard added 16 points and eight rebounds Magic 107 Pacers 100 Terrence Ross scored a season high 30 points to help host Orlando snap a four game losing streak with a victory over Indiana It was the most the most points Ross has scored since he dropped 51 with the Toronto Raptors back in 2014 Nikola Vucevic added 17 points and 10 rebounds after finding out he was selected an All Star reserve before the game Myles Turner led the Pacers with 27 points and grabbed seven rebounds and Bojan Bogdanovic added 21 points Indiana has lost four straight since losing leading scorer Victor Oladipo to a season ending quadriceps tendon injury Spurs 117 Nets 114 Derrick White scored a career high 26 points and LaMarcus Aldridge racked up five of his 20 points in the final 51 seconds as host San Antonio won its fourth straight game outlasting Brooklyn Aldridge hit two free throws with 3 6 seconds left to push the lead to three points While being guarded by Aldridge and DeRozan just outside the arc Brooklyn s Shabazz Napier missed a 3 point attempt at the buzzer that would have tied the game
Patty Mills scored 17 points off the bench for the Spurs while Rudy Gay and DeMar DeRozan back after missing three games with a sore left knee scored 15 apiece D Angelo Russell led the Nets with 25 points Field Level Media |
WMB | EPA taps climate skeptic for science advisory panel | WASHINGTON Reuters The U S Environmental Protection Agency added eight members on Thursday to its scientific advisory board tasked with providing independent input for agency policy a list that includes at least one vocal climate change doubter The EPA said John Christy an atmospheric science professor at the University of Alabama was among the new appointees to the advisory body which now numbers 45 people and includes several appointees from past administrations Christy has downplayed the threat of climate change in congressional hearings and media appearances arguing that scientific models overestimate warming and that major steps to cut greenhouse gas emissions are not warranted Those views place him outside the mainstream scientific consensus including from U S federal agencies that global warming will have devastating consequences if not urgently addressed But they dovetail with President Donald Trump s policy of rolling back Obama era climate change regulations to free up more drilling and mining Christy did not immediately return a call seeking comment Other new appointees include Hugh Barton a toxicology and risk assessment consultant who formerly worked for pharmaceutical giant Pfizer Inc NYSE PFE and Richard Williams NYSE WMB an economics and benefit cost analysis consultant who previously worked for the Food and Drug Administration In a fair open and transparent fashion EPA reviewed hundreds of qualified applicants nominated for this committee acting EPA Administrator Andrew Wheeler said in a statement They include experts from a wide variety of scientific disciplines who reflect the geographic diversity needed to represent all 10 EPA regions Wheeler a former coal industry lobbyist has said he believes climate change is occurring but told senators at his confirmation hearing earlier this month that he did not see it as an urgent problem Trump has also repeatedly downplayed the threat of climate change and announced his intention shortly after taking office in January 2017 to pull the United States from a global accord to fight it The science advisory board was created by Congress to serve as a check on EPA policies and research
The EPA in 2017 barred scientists who have won agency awarded grants from serving on the panel a move the administration said was aimed at reducing conflicts of interest but which environmental groups said would keep qualified scientists out of contention |
WMB | NHL roundup Lightning squeak by Islanders in shootout | Victor Hedman scored the only goal in the shootout Friday night as the Tampa Bay Lightning edged the host New York Islanders 1 0 The Lightning have alternated wins with losses in their last seven games The Islanders have lost two straight but only five of their last 20 15 3 2 It was the Islanders first 1 0 game decided in overtime or shootout since a shootout win over Philadelphia on Nov 24 2014 and the Lightning s first 1 0 game decided in overtime or shootout since an overtime loss to the New York Rangers on Mar 6 2017 Lightning goalie Andrei Vasilevskiy made 36 saves in regulation and overtime Islanders goalie Thomas Greiss recorded 41 saves in regulation and overtime Capitals 4 Flames 3 Evgeny Kuznetsov scored the game winner with 56 2 seconds remaining in regulation as host Washington snapped its seven game losing skid in beating Calgary While on a power play Kuznetsov gained the puck at the blue line worked his way to the net and threaded the needle with a top corner shot for his 10th goal of the season Capitals star Alex Ovechkin was suspended for the contest as a result of his skipping the All Star Game Each team lost a player due to injury in the clash Calgary defenseman Travis Hamonic left with an apparent leg injury and Washington s Lars Eller suffered a lower body injury Blackhawks 7 Sabres 3 Patrick Kane had two goals and two assists to reach two milestones as Chicago defeated host Buffalo Kane a Buffalo native reached 900 career NHL points with his first goal 50 seconds into the second period That also gave him the fifth 10 game point streak of his career making him only the third player in Blackhawks history to have that many after Bobby Hull five times and Denis Savard 11 times Brandon Saad scored twice and Drake Caggiula Duncan Keith and Connor Murphy each added a goal for Chicago who was playing for the first time since the All Star break Jack Eichel Jason Pominville and Kyle Okposo scored for the Sabres who were playing their third game in four days since the break Penguins 5 Senators 3 Bryan Rust and Jake Guentzel each scored twice as Pittsburgh held on for a win over visiting Ottawa for their second straight win Teddy Blueger also scored and Phil Kessel and Sidney Crosby each had two assists for the Penguins who built leads of 3 0 and 4 1 Goaltender Casey DeSmith stopped 37 of 40 Senators shots The Penguins played without center Evgeni Malkin who was out because of an upper body injury Bobby Ryan Mikkel Boedker and Matt Duchene scored for Ottawa which lost its third in a row Anders Nilsson made 35 saves and picked up an assist Predators 4 Panthers 1 Viktor Arvidsson scored two third period goals as Nashville won its third consecutive game and rallied to defeat Florida in Sunrise Fla Roman Josi and Kevin Fiala also scored third period goals for Nashville which trailed 1 0 entering the third Filip Forsberg added three primary assists Arvidsson has 21 goals this season including seven in his past six games The Panthers who had not played in 10 days had their three game win streak snapped The Panthers played short handed after they traded Nick Bjugstad and Jared McCann to Pittsburgh earlier in the day Centers Derick Brassard and Riley Sheahan were acquired by Florida but did not arrive in time to play Hurricanes 5 Golden Knights 2 Carolina came off an extended layoff and executed when it mattered most for a victory against visiting Vegas in Raleigh N C Nino Niederreiter Brett Pesce Jordan Martinook Sebastian Aho and Justin Faulk scored for the Hurricanes Justin Williams NYSE WMB provided two assists Carolina goalie Petr Mrazek made 23 saves He improved his record to 11 10 3 this season tying for the team lead in victories with Curtis McElhinney Shea Theodore scored both goals for Vegas as both teams were playing for the first time since the All Star break Vegas goalie Maxime Lagace who was making his season debut stopped 27 shots He appeared in 16 games last season for the Golden Knights Red Wings 3 Maple Leafs 2 OT Defenseman Danny DeKeyser scored at the 2 40 mark of overtime giving host Detroit a thrilling win over Toronto in the first game since the All Star break for both teams DeKeyser s goal was just his second of the season Andreas Athanasiou slid a pass from the left circle to DeKeyser who easily beat goaltender Frederik Andersen in front of the net Athanasiou assisted on all of Detroit s goals Gustav Nyquist and Dylan Larkin also scored for the Wings while Jimmy Howard stopped 19 shots Auston Matthews and Patrick Marleau each had a goal and an assist for the Leafs Andersen made 30 saves Stars 3 Wild 1 Tyler Seguin scored a pair of third period goals including the game winner and Ben Bishop stopped 21 shots as Dallas did just enough to beat visiting Minnesota and capture its third game in a row Seguin s decisive goal came with 7 42 to play in the game on a shot from just inside the circle which handcuffed Wild goaltender Devan Dubnyk before trickling through his legs and over the line Seguin added an empty netter off an Andrew Cogliano assist with 24 seconds remaining to cement the game
The loss snapped a three game win streak for the Wild that was Minnesota s longest since winning five straight outings in October Field Level Media |
WMB | NBA roundup Irving shines as Celtics top Knicks | Kyrie Irving capped an eventful day by totaling 23 points 10 rebounds and six assists Friday night as the Boston Celtics recorded a 113 99 victory over the New York Knicks whose home losing streak reached 13 games After addressing his impending free agency during the morning shootaround by saying ask me July 1 Irving returned from missing the previous two games with a strained left hip and helped the Celtics win for the eighth time in nine games Irving heard cheers in pregame introductions and some fans chanted We Want Kyrie as the New Jersey native shot 9 of 20 recorded his 13th double double and reached double digits in rebounds for the second time The Knicks broke the team record for the longest home losing streak set during their 17 65 2014 15 campaign under coach Derek Fisher and former president Phil Jackson New York also dropped its season high 12th straight game since beating the Lakers on Jan 4 and dropped to 2 25 in its last 27 games Nuggets 136 Rockets 122 Malik Beasley scored a career high 35 points Nikola Jokic had 31 points 13 rebounds and nine assists and Denver nearly held James Harden below 30 points in a blowout of visiting Houston Harden finished with exactly 30 points and now has scored at least that many in 25 straight games Nine came in the fourth quarter the final on a 3 pointer with just over a minute left to reach 30 Torrey Craig scored a career high 22 points off the bench for Denver which ended a nine game losing streak against the Rockets The Nuggets last beat Houston on Dec 14 2015 Thunder 118 Heat 102 Paul George scored a game high 43 points Russell Westbrook posted his 18th triple double and visiting Oklahoma City continued its offensive surge in a rout of Miami George connected on a career high 10 3 pointers and Schroder scored 28 in 29 minutes off the bench for the Thunder who won their seventh consecutive overall and sixth straight against Miami Westbrook notched 14 points 14 assists and 12 rebounds in his fifth triple double in a row Miami s Kelly Olynyk tallied 21 points and Josh Richardson had 18 Hassan Whiteside had 12 points and 16 rebounds for the Heat who lost their second straight overall and have dropped four of the last six Jazz 128 Hawks 112 Rudy Gobert responded to his All Star snub with 25 points and 13 rebounds as Utah cruised over Atlanta in Salt Lake City Gobert made all seven field goal attempts while posting his 42nd double double of the campaign one night after being passed over on the list of Western Conference reserves for the All Star Game on Feb 17 Ricky Rubio registered 22 points and 11 assists and Joe Ingles scored 19 points as the Jazz won for the 10th time in the past 12 games Trae Young had 28 points and nine assists for the Hawks who dropped to 2 3 on a seven game road trip Hornets 100 Grizzlies 92 Marvin Williams NYSE WMB hit two 3 pointers in an 11 0 run and Charlotte rallied in the final five minutes for a win over visiting Memphis The Hornets wound up outscoring the Grizzlies 15 2 in the final five minutes after trailing 90 85 with 4 38 remaining Memphis has now lost 11 of its last 12 and 17 of its last 19
Kemba Walker led the Hornets with 23 points and Malik Monk scored 20 including 10 straight Hornets points at one stretch in the fourth quarter The Grizzlies were without two starters Mike Conley knee and Jaren Jackson Jr quad Field Level Media |
WMB | Williams bench strength lifts Clippers over Pistons | Lou Williams NYSE WMB came off the bench to score 39 points and dish out nine assists as the Los Angeles Clippers rallied from a 25 point deficit to stun the host Detroit Pistons 111 101 on Saturday Williams scored 26 points in the second half when the Clippers outscored the Pistons 64 36 Montrezl Harrell had 16 points and seven rebounds Mike Scott supplied 15 points and rookie Shai Gilgeous Alexander contributed 14 points seven rebounds five assists and three steals Boban Marjanovic added 10 points and 10 rebounds Reggie Jackson led the Pistons with 29 points and seven assists Blake Griffin had 24 points 11 rebounds and six assists and Reggie Bullock added 19 points Andre Drummond contributed 12 points and 11 rebounds before fouling out Detroit had four players in double figures by halftime and led 65 47 at the break Griffin led the way with 17 points and Jackson had 14 The Pistons drained eight 3 pointers in the opening quarter and raced to a 40 22 lead That tied Detroit s highest scoring first quarter of the season Detroit pushed the lead to 25 in the second quarter before the Clippers began chipping away Clippers coach Doc Rivers started Williams and Marjanovic in the second half in an effort to ignite his team Rivers was whistled for a technical three minutes into the half and Jackson made the free throw giving Detroit a 71 51 lead Jackson drilled a 3 after a Griffin steal to make it 83 60 The Clippers scored the next seven points and that eventually turned into a 16 4 spurt That cut Detroit s lead to 87 76 entering the fourth The Clippers kept the pressure up by scoring the first seven points of the fourth including three points and an assist from Gilgeous Alexander The Clippers tied it when Scott made a 3 from the top of the key with 8 24 remaining Williams converted a layup with 6 18 remaining to give the Clippers a 93 91 advantage Williams doubled the lead with two free throws He soon made a 3 and a layup for a 100 94 Clippers lead
Williams put the game away with a 3 pointer Field Level Media |
WMB | Top 25 roundup Indiana stuns No 6 Michigan State | Indiana entering play Saturday with a seven game losing streak and the worst 3 point shooting percentage in the Big Ten shot 50 percent from long range to upset No 6 Michigan State 79 75 in overtime at East Lansing Mich The Hoosiers 13 9 4 7 Big Ten sank 10 of 20 from 3 point range including 7 of 10 in the second half to win for just the second time in their last 23 trips to the Breslin Center Romeo Langford scored 19 to lead the way while Aljami Durham scored 14 It was Michigan State s first game since learning junior guard Joshua Langford foot was lost for the season and the Spartans failed to find any offensive flow and were terrible from the free throw line The defeat gives Michigan State 18 4 9 2 its first back to back losses since the final two games of the 2017 regular season Cassius Winston scored 26 points and had seven assists for the Spartans No 1 Tennessee 93 Texas A M 76 Grant Williams NYSE WMB scored 22 points and pulled down 10 rebounds and the Volunteers maintained their torrid start with a win over the Aggies at College Station Texas Tennessee 20 1 8 0 Southeastern Conference set a school record with its 16th win in a row The Volunteers surpassed the previous mark that was set over parts of three seasons beginning in 1915 and ending in 1917 Wendell Mitchell scored 18 points to lead Texas A M 8 12 1 7 which energized its home crowd with a terrific upset bid After falling behind by 19 in the first half the Aggies trailed by only two with 10 53 remaining but could not seal the comeback No 2 Duke 91 St John s 61 Freshman Zion Williamson put on another show scoring 29 points on a variety of moves and dunks as the Blue Devils decked the visiting Red Storm in Durham N C Williamson made 13 of 17 shots from the field and was credited with five steals He didn t play in the final 5 46 Cam Reddish added 16 points and RJ Barrett had 15 points for the Blue Devils 19 2 who have won five games in a row LJ Figueroa posted 14 points and Marvin Clark II had 12 points for the Red Storm 16 6 which shot 5 of 26 on 3 point attempts No 3 Virginia 56 Miami 46 The Cavaliers weathered a slow offensive day and pulled away from the Hurricanes in Charlottesville Va Playing without Ty Jerome who sat out due to a back injury the Cavaliers crept back to their roots of tough defense and held a ninth opponent under 50 points this season De Andre Hunter led Virginia 20 1 8 1 ACC with 14 points while Mamadi Diakite had 11 points and three blocks Miami 9 12 1 8 ACC shot just 34 percent from the floor and never got closer than four points in the second half as it was held to 4 of 21 shooting from beyond the arc Chris Lykes scored 16 points to lead the Hurricanes No 4 Gonzaga 85 San Diego 69 Rui Hachimura scored 32 points on 11 of 15 shooting from the field to lead the Bulldogs to a win over the Toreros in Spokane Wash Gonzaga 21 2 8 0 West Coast Conference extended its winning streak to 12 games since losing at North Carolina on Dec 15 The Bulldogs have won nine straight against San Diego 15 8 4 4 They are 16 0 against the Toreros at the McCarthey Athletic Center San Diego s Isaiah Pineiro tied his career high with 30 points on 11 of 23 shooting from the field including 5 of 8 from 3 point range He also had 11 rebounds giving him his eighth double double of the season No 7 Kentucky 65 Florida 54 Tyler Herro scored 19 points and was among three Wildcats in double figures lifting them to a win over the Gators at the O Connell Center in Gainesville Fla P J Washington added 15 points and 12 rebounds and Keldon Johnson scored 10 points allowing Kentucky 18 3 7 1 SEC to rally from down 42 31 early in the second half and pick up its eighth straight win Andrew Nembhard led the Gators 12 9 4 4 SEC with 12 points and three assists KeVaughn Allen added 11 points while Jalen Hudson had 11 points off the bench No 8 Nevada 93 Boise State 73 Caleb Martin scored 30 points and brother Cody Martin added a season high 21 points plus seven assists and four steals to lead the Wolf Pack to their seventh straight victory a rout of the Broncos in Reno Nev Jordan Caroline finished with 13 points and 13 rebounds for his 13th double double of the season and Jazz Johnson 12 and Tre Shawn Thurman 10 also scored in double figures for Nevada 21 1 8 1 Mountain West which extended its home win streak to 14 games in a row Alex Hobbs scored 21 points and Justinian Jessup and Derrick Alston each added 19 points for Boise State 10 12 5 4 which had a two game winning streak snapped Zach Haney finished with 12 points for the Broncos No 9 North Carolina 79 No 15 Louisville 69 Luke Maye scored 20 points as the Tar Heels avenged an earlier loss by whipping the Cardinals in Louisville Ky North Carolina built a big lead in the first half and withstood a few mini rallies from Louisville to secure its fifth consecutive victory and knock the Cardinals out of a share of first place in the Atlantic Coast Conference North Carolina 17 4 7 1 ACC is just a half game out of the top spot in the league Dwayne Sutton 19 points Christen Cunningham 15 points and Jordan Nwora 11 points led Louisville 16 6 7 2 No 11 Kansas 79 No 16 Texas Tech 63 Dedric Lawson recorded his 15th double double of the season amassing 25 points and 10 rebounds as the Jayhawks snapped a two game losing streak by trouncing the Red Raiders at Lawrence Kan Kansas 17 5 6 3 Big 12 bolted to a double digit lead before 10 minutes had elapsed in the first half then expanded the margin to 20 by halftime Freshman Devon Dotson added a career high 20 points for the Jayhawks Texas Tech 17 5 5 4 which shot just 34 4 percent from the floor was led by Davide Moretti with 14 points Tariq Owens contributed 12 points and 10 boards No 12 Virginia Tech 47 No 23 North Carolina State 24 Kerry Blackshear scored 11 of his game high 13 points in the second half as the Hokies pulled away in a stunningly low scoring ACC game routing the Wolfpack in Raleigh N C Nickeil Alexander Walker added 11 for the Hokies 18 3 7 2 who struggled offensively without injured Justin Robinson toe They made only 35 6 percent from the field and were held more than 30 points under their season average But none of it mattered against the Wolfpack 16 6 4 5 NC State made only 9 of 54 shots from the field 16 7 percent including 2 of 28 from the 3 point arc and was held 60 points below its season average The Wolfpack put up the lowest point total by a ranked team since the shot clock was implemented for the 1985 86 season Arkansas 90 No 19 LSU 89 Mason Jones made a twisting jumper in the lane with 22 seconds left and the Razorbacks foiled a furious comeback by the Tigers from an 18 point second half deficit in Baton Rouge La Jones go ahead basket came after a poor decision by LSU s Tremont Waters cost the Tigers dearly With the Tigers leading 89 88 Waters attempted an alley oop pass to Naz Reid from well behind the 3 point arc and the turnover gave Arkansas the chance for the go ahead basket Daniel Gafford led the Razorbacks 13 8 4 4 SEC with 23 points on 11 of 15 shooting from the floor LSU 17 4 7 1 saw its 10 game winning streak end Reid led the Tigers with 19 points and 10 rebounds and Ja vonte Smart had 18 points No 20 Iowa State 65 Texas 60 Talen Horton Tucker scored 15 points and Marial Shayok added 12 including six in the final four minutes as the Cyclones outslugged the Longhorns in Ames Iowa The Longhorns closed within 59 58 on a tip in by Jaxson Hayes before a jumper by Nick Weiler Babb pushed Iowa State s lead back to three 61 58 with 1 05 to go Shayok s jumper with 23 seconds left was answered by two free throws from Texas Kerwin Roach II Shayok added two points from the foul line with 13 seconds remaining to cement the win The win was the third straight for the Cyclones 17 5 6 3 Big 12 Roach led all scorers with 19 points with Matt Coleman III scoring 13 and Hayes adding 10 for the Longhorns 12 10 4 5 No 22 Mississippi State 81 Ole Miss 75 Quinndary Weatherspoon scored 27 points including eight in the final 5 1 2 minutes as the visiting Bulldogs held off the Rebels at Oxford Miss Reggie Perry added 21 points and 11 rebounds as the Bulldogs 16 5 4 4 SEC avenged an 81 77 home loss to the Rebels 14 7 4 4 three weeks ago by an almost identical score Breein Tyree scored 25 points Terence Davis added 15 Devontae Shuler had 14 and Bruce Stevens 13 to lead Ole Miss which lost for the fifth time in six games after a 10 game winning streak No 25 Florida State 59 Georgia Tech 49 Terance Mann and Mfiondu Kabengele scored 12 points apiece as the Seminoles won their third straight game handling the Yellow Jackets in Tallahassee Fla Florida State 16 5 4 4 ACC won despite shooting only 34 8 percent from the floor and hitting just 4 of 16 3 pointers Trent Forrest added nine points six rebounds and three assists
Georgia Tech 11 11 3 6 was led by Abdoulaye Gueye with 15 points his sixth straight game in double figures and seven rebounds Jose Alvarado the team s leading scorer this season failed to score and went 0 for 10 from the field before fouling out Field Level Media |
WMB | NBA roundup Harden scores 43 in Rockets win | James Harden recorded his 19th 40 point game this season and the Houston Rockets snapped a two game slide with a 125 98 win over the Utah Jazz on Saturday at Salt Lake City Harden stuffed the stat sheet with 43 points 12 rebounds six steals five assists and four blocks He finished 15 of 15 at the free throw line and essentially carried the Rockets to their second win in four meetings with Utah this season while extending his streak of consecutive 30 point games to 26 Kenneth Faried added 16 points and 12 rebounds while Gerald Green 25 points and Austin Rivers 16 combined for 41 points on 10 of 18 3 point shooting off the bench The Rockets played without guard Chris Paul who rested in the second game of a back to back Donovan Mitchell tallied 26 points on 7 of 24 shooting for Utah which had won 10 of 12 Four others scored in double figures but the Jazz mustered only 36 percent shooting against the Rockets scuffling defense Rudy Gobert had 10 points and 13 boards Derrick Favors blocked five shots Nuggets 107 Timberwolves 106 Nikola Jokic had 13 points 16 rebounds and 10 assists for his ninth triple double of the season and Denver held on to beat Minnesota at Minneapolis Malik Beasley scored 22 points Will Barton finished with 20 points and Monte Morris had 17 points and 10 assists for Denver which has won six straight The result allowed Nuggets coach Michael Malone to clinch the job as the coach of Team LeBron in the All Star Game Karl Anthony Towns had 31 points and 12 rebounds and Jerryd Bayless had 15 points and 10 assists for Minnesota Mavericks 111 Cavaliers 98 Rookie Luka Doncic scored 35 points including 18 in the first quarter to lead short handed Dallas to a road win over Cleveland Doncic grabbed 11 rebounds and dished out six assists Dallas dressed only 11 players after acquiring Kristaps Porzingis from the New York Knicks in a seven player trade on Thursday Jordan Clarkson led the Cavaliers with 19 points off the bench Dallas outscored Cleveland 48 12 from 3 point range Warriors 115 Lakers 101 Andre Iguodala ignited a fourth quarter runaway with consecutive 3 pointers as Golden State broke open a tight game to beat LeBron James less Los Angeles at Oakland Calif James was a late scratch after being unable to shake general body soreness that resulted from a 40 minute return to the Lakers lineup Thursday after having missed 17 consecutive games with a groin injury The soreness is not considered an aggravation of the groin injury Lakers coach Luke Walton announced before the game Klay Thompson led Golden State with 28 points while Kevin Durant 21 points 11 assists and DeMarcus Cousins 18 points 10 rebounds recorded double doubles Spurs 113 Pelicans 108 LaMarcus Aldridge led a balanced scoring attack with 25 points and host San Antonio withstood a remarkable comeback attempt by New Orleans Aldridge was joined in double figures by Marco Belinelli 17 Rudy Gay 17 DeMar DeRozan 13 Bryn Forbes 12 and Patty Mills 12 as the Spurs won their fifth in a row and completed a sweep of a four game homestand Frank Jackson scored 25 Jrue Holiday and Ian Clark added 15 each Cheick Diallo had 13 Kenrich Williams NYSE WMB had 12 and Darius Miller 11 to lead the Pelicans who lost for the fifth time in six games Clippers 111 Pistons 101 Lou Williams came off the bench to score 39 points and dish out nine assists as Los Angeles rallied from a 25 point deficit to stun host Detroit Williams scored 26 points in the second half when the Clippers outscored the Pistons 64 36 Reggie Jackson led the Pistons with 29 points and seven assists Blake Griffin had 24 points 11 rebounds and six assists against his former team Bucks 131 Wizards 115 Giannis Antetokounmpo had 37 points and 10 rebounds and visiting Milwaukee defeated Washington for its third straight win Brook Lopez added 21 points and Khris Middleton scored 20 for the Bucks who avenged a Jan 11 loss at Washington a game they played without Antetokounmpo Bradley Beal led the six Wizards in double figures with 24 points Jeff Green added 20 and Otto Porter Jr scored 18 Kings 115 76ers 108 Buddy Hield capped a 34 point performance with a pair of late 3 pointers enabling Sacramento to out finish visiting Philadelphia in a back and forth affair After Philadelphia s Jimmy Butler dropped in a layup to put the 76ers up 105 104 with 2 34 to play Willie Cauley Stein drew a foul from Joel Embiid and converted two free throws that gave the Kings the lead for good Over the last eight minutes the lead changed hands eight times Butler and Embiid scored 29 points apiece and Ben Simmons had 22 for the 76ers who had a two game win streak snapped Hornets 125 Bulls 118 Kemba Walker erupted for 37 points 10 assists and six rebounds and Charlotte dominated the fourth quarter in a win over visiting Chicago Walker scored nine straight Hornets points down the stretch and triggered a 15 0 run that turned a 100 99 deficit into a 114 100 lead The Hornets were never threatened from there Chicago s Bobby Portis put on a show in the first half with 28 points and he finished with 33 points and nine rebounds Lauri Markkanen did most of the Bulls scoring down the stretch and finished with 30 The Bulls have now lost 15 of their last 17 Magic 102 Nets 89 A big third quarter helped Orlando top visiting Brooklyn Six players scored in double figures for Orlando led by Nikola Vucevic who had 24 points and 12 rebounds The Magic who charged into the lead with a 21 6 run midway through the third quarter won back to back games for the first time in three weeks D Angelo Russell led Brooklyn with 23 points and six assists and Shabazz Napier added 15 off the bench The Nets have lost three of their last four and snapped a streak of 11 consecutive games scoring at least 100 points Pacers 95 Heat 88 Bojan Bogdanovic scored a season high 31 points to lead Indiana past host Miami Darren Collison had 20 points and Myles Turner added 14 points as the Pacers snapped a four game losing streak It was Indiana s first win since All Star guard Victor Oladipo suffered a season ending quadriceps injury Hassan Whiteside had a double double with 19 points and 14 rebounds for the Heat Dwyane Wade had 21 points in 27 minutes Hawks 118 Suns 112 John Collins scored 35 points and Trae Young scored 17 of his 27 points in the fourth quarter to help visiting Atlanta down Phoenix Collins was 13 of 20 from the floor and grabbed 16 rebounds 10 on the offensive end Young drained four 3 pointers and added seven rebounds and eight assists
Devin Booker scored 32 points to lead Phoenix the third time he has scored 30 plus points in the last four games Booker made four 3 pointers and added 10 assists and eight rebounds Field Level Media |
VZ | Verizon VZ Launches 5G In Denver Providence Next In Line | Verizon Communications Inc NYSE VZ recently launched 5G Ultra Wideband network in select locations in Denver Also the company will roll out 5G service in certain areas of Providence on Jul 1 2019 The move is in sync with the company s strategy to increase the tally of cities under the 5G service coverage to more than 30 in 2019 Notably the 5G Ultra Wideband network will be accessible to businesses and consumers using one of four 5G enabled smartphones LG V50 ThinQ 5G Samsung KS 005930 Galaxy S10 5G moto z3 and z4 powered by 5G moto mod It s worth noting that the company had launched the world s first commercial broadband 5G service in select markets in October last year Moreover in April 2019 it unveiled 5G Ultra Wideband network in certain parts of Chicago and Minneapolis Notably Verizon 5G Home service was built on an early version of 5G standard while the 5G Ultra Wideband technology uses the new radio technology and latest device hardware for the delivery of added capabilities to customers As a matter of fact this will enable the company to offer download speeds of about 450 Mbps with highest speeds of more than 1 Gbps with latency less than 30 milliseconds to Denver and Providence customers Verizon has systematically invested in 5G technology to gain a foothold in the industry The company expects to capitalize on the impending 5G boom and outsmart competition Notably its focus on upgrading the 5G network will result in the enhancement of 5G Ultra Wideband speed network performance and latency Details of the Service CoverageIn Denver Verizon s 5G Ultra Wideband service will be available in areas of Highlands South of 37th between Tejon and Navajo Streets The service will also be available all over LoDo and around Coors Field Apart from these customers can access the service around Sculpture Park outside Paramount Theatre Capitol Hill areas and Northern Sections of The Denver Tech Center among others In Providence initially the service will be available for Verizon customers in some parts of College Hill Federal Hill Mt Hope Also the service will be offered in locations like Providence College and Rhode Island School of Design Notably customers availing the company s 5G service and 5G enabled smartphone will enjoy the faster download speed of 5G Ultra Wideband network while automatically shifting to 4G LTE network once they move outside the 5G coverage area Over the past year the Zacks Rank 2 Buy company has returned 13 8 compared with the s growth of 7 1 Other Key PicksSome other top ranked stocks from the Zacks sector are United States Cellular Corporation NYSE USM Gogo Inc NASDAQ GOGO and Alteryx Inc NYSE AYX While United States Cellular sports a Zacks Rank 1 Strong Buy Gogo and Alteryx carry a Zacks Rank 2 You can see United States Cellular surpassed estimates in each of the trailing four quarters the average positive earnings surprise being 79 32 Gogo outpaced estimates in each of the preceding four quarters the average earnings surprise being 38 68 Alteryx exceeded estimates in each of the preceding four quarters the average earnings surprise being 119 55 Will you retire a millionaire One out of every six people retires a multimillionaire Get smart tips you can do today to become one of them in a new Special Report 7 Things You Can Do Now to Retire a Multimillionaire |
VZ | Inflation Expectations Sketch Out Growing Downside | For the third time in the last five months inflation expectations have matched record lows To hear officials and Economists talk you d think they were at or nearing record highs The unemployment rate after all is at a 50 year low point which by mainstream reckoning should mean the cusp of an epic wage driven breakout
According to the University of Michigan s Surveys of Consumers it s just not there In fact it s never been there Like bond yields there has only been conspicuous lack of any evidence to back up the claim the labor market is tight The entire LABOR SHORTAGE which has curiously disappeared this year was based on cherry picked anecdotes and never anything more
Even if you don t particularly care for consumer surveys there s the same consensus from market based views The TIPS market where getting inflation wrong can really really cost you there was a total absence of concern about an inflationary breakout too
Nowadays the focus is entirely the other way Once more consumers and the bond market agree Economists have no idea what s going on in the economy
In April the FOMC trying to make some semblance of an argument for a second half rebound once more used the word transitory While they did so market expectations were already low and preparing to dip even further
The 5 year 5 year forward inflation rate a market measure of anchored inflation expectations recently dropped to the lowest level in more than two and a half years The market is saying that inflation expectations are now less than they were in January 2015 oil crash or September 2011 second global crisis
How bad is this Inflation expectations have rarely been lower than they are right now This includes market as well as survey based measures a broad consensus that the labor market view derived from the unemployment rate isn t just flawed it is entirely misleading
It always was which is why it is no surprise to find another month without the promised inflationary breakout in the inflation numbers themselves Those promises were never really honest analysis and never the actual consensus outside of econometrics and the few who never leave their models
The PCE Deflator increased just 1 52 year over year in the month of May 2019 That s now five straight months below target However one may think of the series it is undershooting all over again Had the economic trends as the mainstream described them in 2017 been true it would have represented a paradigm shift out of the post 2008 funk an actual end to the Great Recession at long last
The bond curves disagreed all along saying loudly there was little chance for it Outside of oil prices there was never any inflationary pressures because the economy hadn t changed at all It simply went into reflationary mode like before and now once again it s back into being monetarily squeezed dollar shortage
Even the core PCE Deflator has dropped in a manner consistent with past Euro episodes Today without Verizon NYSE VZ to blame at 1 60 growth in May it is uncomfortably close to the prevailing levels of 2015 and 2016 rather than a new ascent far and away above the monetary policy target
The second half rebound or even the rate cuts are insurance view both are predicated on the same mistaken interpretation The labor market is strong therefore the economy will easily transit this soft patch or at least do so with a minor boost from Jay Powell
The inflation numbers instead make plain the labor market was never strong and both consumers and bond investors are considering only a growing downside on the economy One that other parts of the bond market confirm is just getting started |
VZ | AT T also pledges to cut off sales of user location data | AT T T 0 5 is also joining in with a pledge to cut off selling its users phone location data to outside brokers Verizon VZ 2 1 told Sen Ron Wyden that it s ending such sharing after the discovery that at least one partner was sharing customer locations without permission Wyden has asked all four major U S wireless providers for details on their privacy practices AT T says it will stop sharing the data as soon as practical with the hurdle being ensuring that services like emergency roadside service aren t affected Now read |
VZ | Verizon to stop selling phone location data to third parties | By Sheila Dang Reuters Verizon Communications Inc NYSE VZ will stop selling its customers phone location data to third parties after an investigation by a U S Senator found law enforcement agencies were able to use the data to track people without their consent The move by Verizon comes as consumers and lawmakers are increasingly concerned about privacy and security amid data breaches by tech firms including Facebook Inc NASDAQ FB In a letter to Senator Ron Wyden of Oregon dated June 15 and released by Wyden s office on Tuesday Verizon said it was beginning the process to stop selling customer location data to vendors that aggregate the data Wyden contacted the major carriers after his probe found that a prison phone company called Securus Technologies with access to such data had allowed law enforcement to use it to track people A Securus spokesman said the company was authorized to give law enforcement the location of a phone in certain circumstances under Securus contract with the third party data aggregator We believe that ending the ability of law enforcement to use these critical tools will hurt public safety and put Americans at risk the spokesman said AT T Inc NYSE T and T Mobile US Inc said in letters to Wyden that they have blocked the prison phone company from accessing customer data but stopped short of saying they would stop selling the location data to others Sprint Corp in its letter to Wyden said it would end access to its customers location data if a breach was found
Shares of Verizon were up 2 2 percent at 48 49 in afternoon trading |
WMB | Powell faces early reckoning on Fed s 4 trillion question | By Jonathan Spicer and Ann Saphir NEW YORK SAN FRANCISCO Reuters Federal Reserve Chairman Jerome Powell has a problem how to explain that the Fed may soon begin to taper its ongoing asset shedding operation without looking like he s hunkering down for a coming recession or caving to U S President Donald Trump Not long ago Powell expected to face this delicate communication test some time later in 2019 rather than at his news conference on Wednesday following the close of the Fed s first policy meeting of the year But three things an unexpected scarcity of reserves deep in the plumbing of Wall Street overt public pressure from investors and the White House and the Fed s own decision to rethink its interest rate hikes are forcing the U S central bank to acknowledge the real possibility of hanging on to more bonds than originally planned You cannot stop the rate hiking cycle without communicating on the balance sheet as well said Thomas Costerg senior U S economist at Pictet Wealth Management in Geneva Switzerland A bigger balance sheet could result in an across the board easing of market borrowing costs and the foreign exchange value of the dollar easing strains on emerging markets It could also affect the Fed s appetite for bond buying in the face of a future U S downturn For more than a year the Fed has methodically trimmed its multi trillion dollar balance sheet from nearly 4 5 trillion to about 4 1 trillion and falling without much notice Instead it has kept the world s eyes trained on a series of interest rate hikes which according to careful messaging from policymakers in recent weeks may have come to an end But late last year prominent investors took to blaming the Fed s balance sheet runoff for market volatility To underline what they saw as the harmful restraining effects of the Fed s reversal of its bond buying stimulus the program known as quantitative easing undertaken during the financial crisis to jump start the economy they dubbed the runoff quantitative tightening In December Trump amplified that theme tweeting that the central bank ought not to make yet another mistake and stop with the 50 B s a reference to the 50 billion maximum in bonds by which the Fed has been shrinking its portfolio each month according to a plan it outlined and began in 2017 A day after the tweet when Powell said the run off remained on automatic pilot the Standard Poor s 500 stock index delivered its worst 60 minute selloff in at least a year Two weeks later when Powell stressed that the plan was actually flexible the index delivered its best 60 minutes in at least a year Trump s tweet exposed a dilemma for the Fed though its 2017 plan divorced balance sheet policy from monetary policy markets see a stronger connection If the Fed is to stick to its guns on keeping the balance sheet from becoming a first responder tool against economic ups and downs Powell needs to keep that divorce on the books I don t think they re going to stop said Chuck Self chief investment officer at iSectors LLC in Appleton Wisconsin They want to get it down as low as they can without disrupting the economy A CLEARER ROAD MAP The central bank is indeed nearing the point at which it needs to adjust its balance sheet plan not because of the state of the domestic economy which appears strong but because of the plumbing of short term markets As the portfolio has decreased banks have trimmed the reserves they keep at the Fed by even greater amounts putting a strain on the Fed s ability to control the short term policy rate by which it steers monetary policy GRAPHIC Bank excess reserves held at the Fed Economists had already speculated last summer that to deal with mounting scarcity of reserves and the resulting upward push on interest rates beyond a target range the run off would need to end two years earlier and leave the Fed with 1 trillion more than it had envisioned For its part the Fed aims to trim its portfolio to an unspecified level at which demand for reserves matches supply though not to as low as the 900 billion it held before the 2007 2009 recession prompted it begin the purchases It ll be substantially smaller than it is now but nowhere near where it was before Powell said on Jan 10 framing any decision as a technical one and not a referendum on the overall policy stance Growing questions about the balance sheet may prompt Powell to sketch out a clearer road map for the asset holdings at his 2 30 p m 19 30 GMT Wednesday news conference They ve got to get started on that Darrell Duffie a professor at Stanford University s graduate school of business said of telegraphing the policy change They are not boxed in now but the longer they wait the more boxed in they ll be After raising rates gradually last year the Fed is taking a wait and see approach to further tightening in the face of an overseas slowdown and market volatility But even if rates remain steady this year the ongoing shedding of assets including some 380 billion since October 2017 will continue to tighten financial conditions by making funding more expensive for banks In 2017 the Fed projected it would trim the portfolio until around 2022 when it would hold 2 3 trillion to 2 9 trillion in assets But minutes from the Fed s December meeting showed growing internal debate with policymakers mulling holding a larger buffer of securities than planned or slowing the pace of run off as the finish line approaches In mid 2018 economists at Deutsch Bank Securities were among those predicting the Fed would be forced to stop the process by early 2020 with about 3 7 trillion in assets The minutes they wrote in a note have shifted the balance of risks even more and convinced them that Powell will move to halt the portfolio run off as early as the third quarter of 2019
In a possible preview of Powell s message New York Fed President John Williams NYSE WMB a permanent voter on the Fed s policy setting committee said on Jan 18 If circumstances change I will reassess our choices regarding monetary policy including the path of balance sheet normalization Data dependence applies to all that we do |
WMB | NBA roundup Nuggets comeback stuns Grizzlies | Nikola Jokic scored 24 points including a go ahead basket with 28 9 seconds left and the visiting Denver Nuggets rallied from 25 points down to beat the Memphis Grizzlies 95 92 on Monday night Will Barton had 20 points and Malik Beasley scored 13 of his 18 points in the fourth quarter when the Nuggets trailed by as many as 19 to help Denver win without Jamal Murray The point guard missed his second consecutive game due to an ankle injury Denver was down by 19 at halftime 17 after three quarters and 13 with 4 31 left but outscored the Grizzlies 23 7 down the stretch to win its third in a row Marc Gasol had 28 points and nine rebounds and Mike Conley had 23 points and 11 assists for Memphis which has lost 15 of 17 games Warriors 132 Pacers 100 Stephen Curry scored 23 of his game high 26 points in the first half as Golden State routed Indiana in Indianapolis The Warriors won their 11th straight their 10th in a row on the road against a Pacers team that last season became the first Eastern Conference club in the five year Steve Kerr coaching era to sweep a season series from Golden State Playing in just his fifth game DeMarcus Cousins dropped in a season best 22 points for the Warriors who capped a 5 0 road trip Kevin Durant and Klay Thompson added 16 points apiece Myles Turner led the Pacers with 16 points Celtics 112 Nets 104 Jaylen Brown and Marcus Smart scored 21 points apiece and Boston dominated the fourth quarter while extending its home winning streak over Brooklyn to six The Celtics beat the Nets for the 11th time in the past 12 meetings overall on a night when Kyrie Irving sat out with a strained left hip Boston coach Brad Stevens said he thought the injury occurred Saturday during the first half of the Celtics 115 111 home loss to the Golden State Warriors Boston blocked 16 shots its highest total since the 1983 84 season according to basketball reference com D Angelo Russell scored 25 points for the Nets who had their six game winning streak end Hornets 101 Knicks 92 Tony Parker and Jeremy Lamb led a balanced attack with 15 points each and host Charlotte added to New York s misery The Hornets trailed by as many as eight points in the third quarter but went on a 14 0 run early in the fourth to take control of the game They led by as many as 14 down the stretch and never let the Knicks closer than nine again Kevin Knox scored 19 points for the Knicks who have lost 10 straight and 18 of their past 19 games Hawks 123 Clippers 118 Rookie Trae Young scored 26 points and John Collins added 22 as Atlanta earned a victory over Los Angeles to improve to 2 1 at the start of a season high seven game road trip Alex Len added 19 points for the Hawks who defeated a Pacific Division team for the first time in six tries this season
Tobias Harris scored 30 points for the Clippers who have lost five of their past six home games Los Angeles reserve Lou Williams NYSE WMB opened the game 0 for 11 from the field a day after a 2 for 16 shooting performance and finished with 21 points on 4 of 17 shooting Field Level Media |
WMB | Netanyahu s toughest ballot rival ex general Gantz to break silence | By Dan Williams NYSE WMB JERUSALEM Reuters Prime Minister Benjamin Netanyahu s toughest rival in Israel s April ballot former military chief and political enigma Benny Gantz will set out his goals on Tuesday in a marker of the center left opposition s prospects Polls predict a Netanyahu reelection with his right wing Likud party taking around 30 of parliament s 120 seats and Gantz s Resilience party coming a distant second with around 15 That would line Gantz up to join a future Netanyahu led coalition government unless the ex general tries to mobilize like minded factions against the incumbent now in his fourth term Much depends on the ideology of Gantz s newly formed party On this he has so far been silent His campaign meanwhile has stoked his residual popularity from his term as top general with graphic ads claiming hundreds of enemy deaths in two Gaza wars But mindful of Israeli moderates Gantz s image makers also cast him in a softer light releasing a video in which the tall taciturn 59 year old says there is no shame in pursuing peace At a launch party on Tuesday timed to coincide with the evening TV news Gantz was due to deliver his first political speech with voters watching for combustible policy points like Israeli Palestinian peace talks frozen since 2014 or corruption allegations dogging Netanyahu Tamar Hermann a scholar with the non partisan Israel Democracy Institute predicted Gantz would try to stay very vague on certain topics for instance yes to peace but Israel s security comes first For Netanyahu to be defeated Hermann said Gantz would have to bring together disparate center left parties Anything can happen but at the moment the most likely outcome of the election would be a Netanyahu led center right government she said Likud has sought to write Gantz off as a leftist casting him as an untested whimsy candidate and no match for Netanyahu 69 who is also defense minister As the election approaches and facing possible indictment Netanyahu has highlighted his handling of national security publicly acknowledging Israeli air strikes against Iranian targets in Syria Martin Dempsey a retired U S army general whose tenure as chairman of the Joint Chiefs of Staff mirrored that of Gantz as Israeli armed forces chief between 2011 and 2015 told Reuters that he would bring an open mind to change and have the instincts to build a team to solve the most urgent challenges
His silence would likely signal to me that he is carefully and deliberately thinking and learning preparing to express his views with clarity and confidence so that he knows who and what he wants to be and do when the political winds begin to blow with greater velocity Dempsey said |
WMB | Top 25 roundup No 3 Virginia tops No 23 NC State in OT | Kyle Guy made a tiebreaking 3 point basket with just more than two minutes left in overtime and No 3 Virginia held on to defeat host No 23 North Carolina State 66 65 on Tuesday night in Raleigh N C De Andre Hunter made two foul shots with 5 2 seconds left to put Virginia up 66 63 He then fouled Markell Johnson on a 3 pointer at the 0 9 second mark but Johnson missed the first attempt Johnson made the second before inadvertently sinking the third try when the Wolfpack would have liked a chance to tip in a rebound NC State wiped out a 14 point second half deficit to force overtime Hunter finished with 15 points Ty Jerome added 12 and Guy contributed 10 points to pace Virginia 19 1 7 1 Atlantic Coast Conference Johnson led the Wolfpack 16 5 4 4 with 14 points while Torin Dorn had 13 Wyatt Walker added 11 and Devon Daniels had 10 Texas 73 No 11 Kansas 63 Dylan Osetkowski scored 16 points in Austin Texas as the Longhorns ended a 10 game losing streak in their series with the Jayhawks Despite a consistently stingy defensive effort the Longhorns 12 9 4 4 Big 12 drew only two fouls through the first 32 minutes but finished with 13 fouls They still held the Jayhawks 16 5 5 3 to 43 1 percent shooting Kansas beat Texas 80 78 just 15 days ago at Lawrence Kan but the loss was the second straight for the Jayhawks and knocked them out of a first place tie in the Big 12 Ochai Agbaji scored a game high 24 points for Kansas No 1 Tennessee 92 South Carolina 70 Admiral Schofield scored 24 points Grant Williams NYSE WMB had 23 and the Volunteers pulled away to tie the longest winning streak in school history with a victory over the Gamecocks in Columbia S C Tennessee 19 1 7 0 Southeastern Conference which is No 1 for the second consecutive week has won 15 consecutive games matching the program mark set across three seasons from February 1915 to January 1917 Chris Silva was huge for South Carolina 10 10 5 2 with 28 points and 10 rebounds eight of which came on the offensive end Silva who had a career high 32 points in a win over then No 16 Auburn last week also blocked two shots No 5 Michigan 65 Ohio State 49 Zavier Simpson recorded his first career triple double with 11 points a career high 12 assists and 10 rebounds in his 100th career game and the Wolverines pulled away from the visiting Buckeyes in Ann Arbor Mich Simpson who also had two steals recorded his 300th career assist while notching the sixth triple double in school history Jordan Poole scored a team best 15 points and freshman Ignas Brazdeikis added 14 for the Wolverines 20 1 9 1 Big Ten Kaleb Wesson led the Buckeyes with 12 points and seven rebounds C J Jackson added 11 points eight rebounds and four assists for Ohio State 13 7 3 6 which has lost six of its last seven games No 7 Kentucky 87 Vanderbilt 52 The Wildcats wasted little time in opening up a big lead and never let go walloping the host Commodores at Nashville s Memorial Gymnasium P J Washington scored 26 points 18 in the first half outscoring Vanderbilt by himself in the period Washington had 10 rebounds at half and a game high 12 in all for Kentucky 17 3 6 1 SEC Guards Tyler Herro 12 points and Keldon Johnson 11 also scored in double figures for Kentucky as did reserve forward Nick Richards who scored 14 points and blocked four shots Vanderbilt 9 11 0 7 never got closer than 28 in the second period Kentucky s biggest lead was 38 with 9 11 remaining It was the Wildcats sixth straight win over Vanderbilt and seventh in a row this season No 8 Nevada 87 UNLV 70 Caleb Martin scored a game high 26 points and Jordan Caroline finished with 18 points and 10 rebounds as the Wolf Pack cruised to a victory over the Runnin Rebels in Las Vegas It was the sixth straight victory for Nevada which hit the 20 win mark for the fourth consecutive season Jazz Johnson scored 11 points off the bench and Cody Martin added 10 points seven assists and six rebounds for the Wolf Pack 20 1 7 1 MW Kris Clyburn scored 23 points and grabbed eight rebounds and Amauri Hardy added 17 points for UNLV 11 9 5 3 The Rebels lost for the fifth time in their past six meetings with the Wolf Pack No 9 North Carolina 77 Georgia Tech 54 Cam Johnson and Coby White combined for 41 points to lead the visiting Tar Heels over Yellow Jackets in Atlanta Johnson scored 22 on 8 of 10 shooting including 4 of 6 on 3 point attempts White was 7 of 13 from the floor and 5 of 9 from long range finishing with 19 points and eight assists North Carolina 16 4 6 1 ACC has won four straight since its embarrassing 21 point home loss to Louisville Georgia Tech 11 10 3 5 has lost two in a row and four of its past five The Yellow Jackets got good production from Abdoulaye Gueye who finished with 14 points his third straight game with double figures since missing two games with an injury Gueye added four rebounds and four blocked shots No 18 Buffalo 83 Ball State 59 Donte Caruthers came off of the bench to score 21 points on 8 of 10 shooting to lead the Bulls to a lopsided victory over the visiting Cardinals Buffalo 19 2 7 1 Mid American Conference has won two straight since getting upset last week at Northern Illinois The Bulls never trailed against Ball State as CJ Massinburg had 16 points and nine rebounds and Davonta Jordan added 13 points K J Walton scored 18 points on 8 of 14 shooting and Tahjai Teague added 13 points in defeat for Ball State 11 10 2 6 which shot just 2 of 23 from 3 point range No 21 Maryland 70 Northwestern 52 Bruno Fernando had 22 points and 10 rebounds to lead the host Terrapins to an easy win over the Wildcats in College Park Md The victory snapped a two game losing streak for Maryland It was Fernando s 12th consecutive game in double figure scoring and his 13th double double of the season for the Terrapins 17 5 8 3 Big Ten Northwestern 12 9 3 7 could muster just 31 percent shooting against the taller Terrapins Maryland also had a commanding 36 22 advantage in points in the paint thanks to Fernando and fellow 6 foot 11 big man Jalen Smith who had 14 points and nine rebounds Alabama 83 No 22 Mississippi State 79 Donta Hall scored 19 points and the host Crimson Tide got a big lift from their bench to defeat the visiting Bulldogs in Tuscaloosa Ala Reserves John Petty and Riley Norris had 13 and 11 points off the bench respectively as the Crimson Tide 13 7 4 3 SEC won their second consecutive home game against a ranked team Alabama beat then No 20 Ole Miss 74 53 on Jan 22 Reggie Perry scored 18 points Lamar Peters and Quinndary Weatherspoon added 14 each and Aric Holman had 12 to lead the Bulldogs 15 5 3 4 No 24 Wisconsin 62 Nebraska 51 The Badgers leaned on balanced scoring and defense to defeat the host Cornhuskers in Lincoln Neb as Brad Davison scored 13 points and Ethan Happ and Nate Reuvers had 10 points apiece Wisconsin 15 6 7 3 Big Ten earned its fourth straight victory as Happ added nine rebounds while D Mitrik Trice Khalil Iverson and Brevin Pritzl had eight points each
Nebraska 13 8 3 7 lost its fourth straight game despite double digit scoring efforts from Isaiah Roby 18 points James Palmer 14 and Thomas Allen 10 Roby added nine rebounds but shooting woes ultimately doomed the Cornhuskers who shot 28 3 percent from the floor to the Badgers 43 6 percent Field Level Media |
WMB | Cost conscious Chinese tourists staying closer to home for Lunar New Year | SHANGHAI Reuters Trade tensions with the United States and a slowing economy are keeping Chinese tourists to budget friendly destinations closer to home for the Lunar New Year holiday with more likely opting for Bangkok than Sydney or San Francisco The week long holiday which takes place this year in the first week of February is one of China s longest breaks and over 400 million people are expected to travel across the country for family reunions according to Chinese travel agency Ctrip It estimates 7 million will go abroad Hotels and travel agencies in Asian countries from Thailand to Japan anticipate higher numbers than a year ago of Chinese tourists who have become a powerful spending force with the ability to make or break the fortunes of retailers and tourism brands But recently the numbers going to the United States Australia and New Zealand have fallen or only show small increases We see the growth start to slow a little bit and per pax spending especially on shopping declining said Hunter Williams NYSE WMB a U S based partner at management consultant firm Oliver Wyman The consultancy says that average spending on overseas shopping a year ago was 5 800 yuan 855 compared with 8 000 yuan around Lunar New Year in 2016 In 2018 the Chinese economy grew at its slowest rate in nearly three decades and economists expect a further decline this year in part because of weakening consumer spending He Yanping 26 who works in advertising in Beijing was among those not venturing too far overseas for Lunar New Year with an 11 day Malaysia holiday she estimates will cost between 8 000 to 10 000 yuan I actually wanted to go to Australia but the problem is that it s too far and the hotels and visa are expensive she said FULL BALI FLIGHTS Ctrip said bookings indicated the four most popular destinations are Thailand Japan Indonesia and Singapore all within in seven hours flying time from Beijing or Shanghai Incoming flights are full said Ida Bagus Agung Partha Adnyana chairman of the Bali Tourism Board which represents the industry on the popular Indonesian holiday We are optimistic that bookings will be at least the same as 2018 The Thai Hotels Association said bookings from China which tumbled after 47 Chinese tourists died when a boat sank near Phuket in July were back to normal levels Chinese outbound travel to the United States has seen a significant slowing since trade frictions between Beijing and Washington began escalating In July September such arrivals fell 20 percent from a year earlier according to the private China Outbound Tourism Research Institute which analyses Chinese travel data For every citizen it became clear that it is not politically correct at this moment in time to travel to the USA especially for leisure an institute spokesman said The outlook for Australia and New Zealand in previous years popular during their summers is also less rosy In November Chinese arrivals in New Zealand were 4 4 percent below a year earlier and in Australia they just 1 6 percent higher Air New Zealand on Wednesday lowered its profit outlook and forecast revenue growth would ease due to weaker tourism Du Ge a sales director at Beijing Xinjie International Travel Service which organizes tours to New Zealand and Australia said bookings ahead of the Lunar New Year holiday have been weak which he attributed to the economic climate Three or four years ago we could have more than 3 000 bookings Now maybe 1 000 he said Tourism is considered a luxury something to have after your stomach is full But as people s disposable incomes fall tourism will be impacted |
WMB | NBA roundup Jokic s triple double lifts Nuggets | Nikola Jokic had a triple double as the visiting Denver Nuggets defeated the short handed New Orleans Pelicans 105 99 on Wednesday night Jokic had 20 points 13 rebounds and 10 assists Malik Beasley added 22 points off the bench Monte Morris scored 20 and Paul Millsap had 13 as the Nuggets won their fourth consecutive game The Pelicans played without five of their top six scorers for the second consecutive night Anthony Davis Julius Randle Elfrid Payton E Twaun Moore and Nikola Mirotic were all sidelined by injury leaving just guard Jrue Holiday available among New Orleans top six players Holiday led the Pelicans with 22 points and Kenrich Williams NYSE WMB added 21 points Celtics 126 Hornets 94 Terry Rozier filled in for injured Kyrie Irving and had 17 points 10 assists and five rebounds and Boston remained hot with an easy victory over visiting Charlotte The Celtics took control of the game in the third quarter outscoring the Hornets 35 16 to push a four point halftime lead to 23 They went on to lead by as many as 35 points in the fourth quarter The Celtics have won seven of their past eight games They are also now 24 4 over the past two seasons when playing without Irving who missed his third game in the past week with a strained left hip Kemba Walker paced the Hornets with 21 points Timberwolves 99 Grizzlies 97 OT Karl Anthony Towns hit a 20 foot jump shot at the overtime buzzer and Minnesota pulled off a victory in Minneapolis sending Memphis to its eighth consecutive road defeat Towns had 16 points and 10 rebounds while Jerryd Bayless scored 19 points and handed out a career high 12 assists for the Timberwolves Minnesota s Andrew Wiggins missed a 21 foot jumper with three seconds remaining in overtime Towns grabbed the rebound on the wing and got off his game winning shot just before time expired Mike Conley led the Grizzlies with 26 points and eight assists Mavericks 114 Knicks 90 Dennis Smith Jr finished with a triple double and Dirk Nowitzki scored a season high 14 points in his possible finale at Madison Square NYSE SQ Garden as visiting Dallas pulled away for a win over New York The Mavericks have won three of four The Knicks have lost 11 straight 19 of 20 and 24 of 26 New York 10 40 has the worst record in the NBA Smith collected 13 points 15 assists and 10 rebounds Harrison Barnes led all scorers with 19 points while Wesley Matthews added 17 points and rookie sensation Luka Doncic had 16 points and eight rebounds Kevin Knox topped New York with 17 points Bulls 105 Heat 89 Bobby Portis scored a season high 26 points to lead Chicago to a victory at Miami Wayne Selden finished with 20 points while Lauri Markkanen and Kris Dunn scored 14 points each for the Bulls who snapped a four game losing streak and won their second in the past 16 Robin Lopez was Chicago s fifth double figure scorer with 13 points and Markkanen grabbed a game high 13 rebounds Tyler Johnson scored 15 points for the Heat whose two game winning streak ended Wizards 107 Pacers 89 Bradley Beal scored 25 points Jeff Green added 23 and Washington routed visiting Indiana Chasson Randle added 13 points for the Wizards who had lost two straight Jordan McRae and Trevor Ariza contributed 12 points apiece Thaddeus Young led six Pacers in double figures with 13 points The 89 points were a season low for Indiana which fell to 0 3 since losing Victor Oladipo to a season ending quadriceps injury The Pacers have dropped three games in a row for the first time this season Kings 135 Hawks 113 Marvin Bagley III scored nine of his 17 points in the second quarter helping Sacramento roll past visiting Atlanta The win allowed the Kings to sweep the two game season series from the Hawks for the first time since 2006 Sacramento put up an opponents season high in a 146 115 romp at Atlanta in November The Kings total Wednesday was the sixth most points allowed by the Hawks this season Bagley Harry Giles III team high 20 points Bogdan Bogdanovic 16 and Yogi Ferrell 11 all scored in double figures off the bench for the Kings who outscored the Hawks 80 49 in reserve points Hawks rookie Trae Young won his individual duel with Kings point guard De Aaron Fox outscoring his rival 23 9 and out assisting him 8 7 Trail Blazers 132 Jazz 105 Damian Lillard and CJ McCollum combined for 66 points as Portland dismantled Utah for its eighth straight home victory Lillard collected 36 points 11 assists and eight rebounds and McCollum scored 30 points for the Trail Blazers who led by as many as 33 points
Donovan Mitchell scored 22 points for Utah which had won nine of its previous 10 outings Rudy Gobert added 15 points and nine rebounds for the Jazz Field Level Media |
VZ | Has Verizon Communications VZ Outpaced Other Computer And Technology Stocks 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 our Computer and Technology group which includes 637 different companies and currently sits at 8 in the Zacks Sector Rank The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups
The Zacks Rank is a successful stock picking model that emphasizes earnings estimates and estimate revisions The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months VZ is currently sporting a Zacks Rank of 2 Buy
The Zacks Consensus Estimate for VZ s full year earnings has moved 1 88 higher within the past quarter 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 2 51 since the start of the calendar year Meanwhile the Computer and Technology sector has returned an average of 16 40 on a year to date basis This means that Verizon Communications is outperforming the sector as a whole this year
To break things down more VZ belongs to the Wireless National industry a group that includes 17 individual companies and currently sits at 60 in the Zacks Industry Rank Stocks in this group have gained about 10 61 so far this year so VZ is slightly underperforming its industry this group in terms of year to date returns
Going forward investors interested in Computer and Technology stocks should continue to pay close attention to VZ as it looks to continue its solid performance |
VZ | The Government Won t Let Huawei Enforce U S Patents | Huawei may be looking for an opportunity to talk to government officials but the government is clearly not in the mood Not only have officials made it clear that there are going to be no negotiations with the company but it has also indicated that it will go to lengths to see that the company doesn t create any mischief
So when Huawei said Verizon NYSE VZ owes it a billion dollars for infringement of 230 patents Republican Senator Marco Rubio tweeted that the action was an attempt by Huawei to retaliate against the U S by setting the stage for baseless but costly patent claims
He even followed that up with a proposed amendment to the National Defense Authorization Act NDAA that was earlier invoked to prevent federal purchases of Huawei products on the basis of national security concerns The NDAA sets the broad policies for spending by the Department of Defense
The current amendment seeks to prevent companies like Huawei that are placed on specified U S watch lists from seeking legal resolution or damages in any U S court with respect to U S patents While it still hasn t been signed into law this could happen quickly since both Republicans and Democrats generally agree on China concerns
Huawei has of late been amassing U S patents so the company may have been waiting to start claiming its rights anyway Now that other revenue sources in the U S are drying up it may have been exploring this route
The truth is the company is already feeling the pain of U S sanctions with officials confirming that international sales are down 40 according to media reports And although domestic sales have accelerated and could see the company through the short term emergency the inability to include American technology would cripple the company and limit it to second rate offerings for sale in the domestic market Until it is able to come up with alternatives of its own that is If at all it is able to create suitable alternatives it could be several years before such technology is exported for gain
The Chinese government could step in as part of its trade deal something the U S has said it will entertain Or it may not if it is willing to take the risk of Huawei which is a huge company somehow battle it out on its own
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VZ | U S Cellular Gets Millimeter Wave Spectrum Eyes 5G Network | Bidding for high frequency spectrum in the recently hosted FCC Millimeter Wave Spectrum Auctions United States Cellular Corporation NYSE USM successfully acquired licenses that cover 98 of its overall customers for 256 million or 1 7 cents per MHz passing one person pop U S Cellular aims to address the growing demand for data services as well as create new opportunities for innovative services that require high speed reliability and low latency In the 28 GHz Auction the wireless telecommunications service provider reportedly paid 129 4 million or 2 1 cents per MHz pop securing 408 licenses covering 60 of its subscriber base with at least 425 MHz of millimeter wave spectrum In the 24 GHz Auction the company spent 126 6 million or 1 5 cents per MHz pop acquiring 282 licenses covering 93 of its customers Put together the auctions enabled U S Cellular to acquire at least 300 MHz of spectrum in markets that accounts for 97 of its total subscriber base As a result the company can now cover most of its subscribers which enables it to provide the cutting edge capabilities of 5G technology Markedly U S Cellular s fifth generation network strategy involves the use of a variety of spectrum bands over time The company s initial 5G deployment will likely be on its 600 MHz spectrum as this will provide enhanced broadband speed and capacity across its footprint The company is progressing well in its multi year network modernization initiative by building its network for the future of connectivity This will give competitive advantage while matching increasing expectations of customers Further U S Cellular has taken major steps to accelerate subscriber additions and improve churn performance The company intends to offer the best wireless experience to customers by providing superior quality network and national coverage Telephone and Data Systems Inc NYSE TDS owned 82 stakes in U S Cellular as of Mar 31 2019 U S Cellular continues to strengthen its customer base witness greater adoption of its unlimited total plans and tap new revenue sources while focusing on cost management Driven by diligent execution of key business strategies the stock has rallied 38 3 compared with the s rise of 10 5 in the past year U S Cellular currently sports a Zacks Rank 1 Strong Buy A couple of other top ranked stocks in the industry include T Mobile US Inc NASDAQ TMUS and Verizon Communications Inc NYSE VZ both carrying a Zacks Rank 2 Buy You can see T Mobile has long term earnings growth expectation of 13 Verizon has long term earnings growth expectation of 4 3 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 |
VZ | Britain fines Yahoo UK Services 250 000 pounds for 2014 hack | Reuters Britain s data watchdog said on Tuesday it fined Yahoo NASDAQ AABA UK Services Ltd 250 000 pounds for a cyber attack in November 2014 Yahoo most of whose assets were acquired by Verizon Communications Inc N VZ said in 2016 that at least 500 million of its accounts had been hacked two years earlier The Information Commissioner s Office ICO said it focused on the 515 121 UK accounts that London based Yahoo UK Services oversaw as a data controller The compromised personal data included names email addresses telephone numbers dates of birth hashed passwords and encrypted or unencrypted security questions and answers The ICO investigation found Yahoo UK Services failed to protect the data and take steps to ensure parent Yahoo Inc complied with the appropriate data protection standards The failings our investigation identified are not what we expect from a company that had ample opportunity to implement appropriate measures ICO s Deputy Commissioner of Operations James Dipple Johnstone said it s no good locking the door if you leave the key under the mat The inadequacies found had been in place for a long period without being discovered or addressed ICO added Yahoo s European regulator has ordered it to make privacy changes following a probe into what it said was one of the largest ever data breaches to impact EU citizens Ireland s Data Protection Commissioner the lead European regulator on privacy issues for Yahoo whose European headquarters are in Dublin said last week Yahoo s data processing operations did not meet standards required by EU law
Yahoo UK did not immediately respond to a request for comment |
WMB | Australia divided thousands expected to protest Australia Day legacy | By James Redmayne SYDNEY Reuters Thousands of Australians are expected to protest on Saturday as a national holiday intended to celebrate the birth of modern Australia divides the country Australia Day on Jan 26 marks the anniversary of the 1788 arrival of the First Fleet to Sydney Cove carrying mainly convicts and troops from Britain For many indigenous Australians who trace their lineage on the continent back 50 000 years it is Invasion Day the start of Britain s colonization of aboriginal lands and their brutal subjugation Celebrating Australia Day on January 26th is offensive said Joe Williams NYSE WMB a mental health worker and former professional rugby league player To celebrate an invasion which has seen our people dispossessed displaced and oppressed for some 230 years is plain offensive he told Reuters Television Australia s 700 000 or so indigenous people track near the bottom of its 25 million citizens in almost every economic and social indicator While opinion polls suggest up to half the country supports changing Australia Day the conservative government is under pressure to legally entrench Jan 26 as a national holiday We should keep the 26th of January as a special day in our calendar said Nick Folkes a painter from Sydney It means respect and acknowledgement of the sacrifices made by explorers settlers our convicts he added Prime Minister Scott Morrison s government which faces a general election due in May opposes any change and has moved to shore up support for the holiday This month it ordered local councils to hold induction ceremonies for new citizens on Australia Day and the Australian Citizenship Day holiday on Sept 17 or have their authorization revoked Morrison has also pledged nearly A 7 million 4 9 million for a replica of explorer James Cook s HMS Endeavour the first ship to reach the east coast of Australia in 1770 The replica ship will circumnavigate Australia next year to mark the 250th anniversary of Captain Cook s voyage Opposition leader Bill Shorten has criticized Morrison for spending taxpayer s money on a bizarre Captain Cook fetish but the prime minister said it will unify Australians I believe it will be a voyage of bringing Australians together Morrison said in Cairns this month I m keen for it to be done very much in that spirit 1 1 4098 Australian dollars |
WMB | Top 25 roundup No 6 Michigan State avoids upset at No 19 Iowa | Cassius Winston scored 23 points and Nick Ward added 21 points and 10 rebounds as No 6 Michigan State used a huge second half run to beat No 19 Iowa 82 67 at Iowa City for its 13th straight win It was a remarkable turnaround as Iowa controlled the game early in the second half taking an eight point lead less than five minutes into the period However Winston nailed two consecutive 3 pointers igniting a 24 2 run that flipped control of the game and helped the Spartans 18 2 9 0 Big Ten remain unbeaten in the conference and in sole possession of first place Luka Garza scored 20 points to lead Iowa Tyler Cook scored 17 and Nicholas Baer chipped in 10 for the Hawkeyes 16 4 5 4 Iowa rolled to open the second half pounding the ball down low to Cook who scored 11 points in the first five minutes of the half to help the Hawkeyes appear to take control pushing their lead to 50 42 But Michigan State came to life at that point as Winston hit his two straight 3 pointers to ignite a 14 0 run for the Spartans No 4 Gonzaga 98 Santa Clara 39 Josh Perkins recorded 18 points and eight assists as the Bulldogs steamrolled the Broncos at Santa Clara Calif Zach Norvell Jr contributed 16 points and eight rebounds and Rui Hachimura also scored 16 points for Gonzaga 19 2 6 0 WCC which won its 10th straight game Corey Kispert added 13 points while Brandon Clarke and Filip Petrusev had 12 points apiece for the Bulldogs The Bulldogs won their 27th consecutive conference road game to set an NCAA record Santa Clara 11 10 3 4 lost its 19th straight contest against Gonzaga Josip Vrankic scored 12 to lead the Broncos and Trey Wertz had 11 No 23 Louisville 84 No 21 North Carolina State 77 Christen Cunningham scored nine of his 17 points on free throws as the Cardinals fended off several rallies from the Wolfpack to win at Louisville Ky Malik Williams NYSE WMB had 14 points Jordan Nwora added 13 and Dwayne Sutton and reserve Steven Enoch each notched 10 points for Louisville 14 5 5 1 Atlantic Coast Conference
Braxton Beverly s 19 points led NC State 15 4 3 3 while Torin Dorn added 18 points C J Bryce had 15 and Devon Daniels posted 10 Field Level Media |
WMB | Osaka Kvitova chase double delight in Melbourne final | By Sudipto Ganguly MELBOURNE Reuters The rewards could not get bigger when Petra Kvitova takes on Naomi Osaka in Saturday s Australian Open final with one of them set to emerge as a fresh champion at Melbourne Park as well as the new world number one Four months after stunning 23 times Grand Slam champion Serena Williams NYSE WMB in the final of the U S Open last September 21 year old Osaka is one win away from becoming the first player since Jennifer Capriati to win the next Grand Slam after her maiden major title The fourth seed one of the cleanest strikers of the ball in women s tennis is not expecting it to be a cakewalk especially being pitted against an opponent as aggressive as Osaka and also more experienced with two Wimbledon titles under her belt Osaka fought back from a set and 4 1 down against Taiwan s Hsieh Su wei in the third round at Melbourne Park and showed her determination in winning two more three setters to keep a 13 match victory streak in Grand Slams running She will need all of that grit if she hopes to stop Kvitova who is yet to drop a set en route to her maiden Australian Open final in their first career meeting I think to have the opportunity to play her for the first time in a final of a Grand Slam is something very amazing Osaka told reporters after her semi final win I ve watched her play the Wimbledon finals I know what a great player she is It s definitely going to be very tough for me Kvitova is one match away from capping one of the most inspiring comebacks in the history of the sport having had to undergo a nearly four hour surgery on her playing hand in 2016 after being attacked by a knife wielding intruder at her home in the Czech Republic She missed the 2017 tournament at Melbourne Park while recovering from the surgery and it was just not a case of overcoming a physical injury as the attack left an indelible mental scar too I have been in the final of the Grand Slam but this is a little bit different she told reporters on Friday I m not playing on the grass but I think it s just probably a little bit more special because it s after everything I have been through So I think it s just different but I don t think it s like more nervous The 28 year old currently sixth in the rankings won the Sydney International warm up before arriving in Melbourne and has not looked back having strolled past her opponents in a 11 match winning streak Saturday could however be a different fight against the big hitting Osaka who hammered 56 winners and clubbed 15 aces to defeat another Czech player in Karolina Pliskova I need to play my best tennis what I can say I think Naomi is on fire She s in very good form Kvitova said She s an aggressive player which I am as well So I think it will be about who gonna take the first point and push the other a little bit With both players evenly matched in their aggressive play and ability to serve big Kvitova s coach Jiri Vanek believed the player with the bigger heart will win Saturday s contest Vanek s opposite number Sascha Bajin believes Osaka s fitness and mindset will give her the edge in rallies The number one ranking will be the cherry on the top for the winner as she will unseat Romanian Simona Halep who was ousted by Serena Williams in the fourth round at the top spot of the women s game on Monday It will be a first ever week as world number one for either players as Osaka is at her career best ranking at fourth while Kvitova climbed as high as second during 2011
This story changes Pliskova to Kvitova in headline no change to text |
WMB | Motor racing Zanardi looks ahead with realistic expectations | By Steve Keating Reuters Despite having lost both his legs in a crash Alex Zanardi jokes that he has both feet firmly planted on the ground when it comes to expectations for this weekend s 24 Hours of Daytona endurance race Back racing against some of motorsports very best 17 years after a horrific accident nearly cost him his life Zanardi long ago removed the limits on what is possible A dreamer with his own definition of reality the 52 year old appears not to be weighed down by anything other than gravity We all have expectations but sometimes the greatest thing is to be surprised with what happens and to find out that it is quite different from the way you imagined it Zanardi told Reuters I try to pardon the expression stay with my feet on the ground I know this is a great opportunity from a personal point of view but also where other people have expectations they have invested a lot of resources a lot of effort in preparing for this event I am not in a hurry to cross that line because whenever that will be it will be the end of this chapter The final chapter in Zanardi s story appeared to have been written on September 15 2001 at a Champ Car now IndyCar race at the Lausitzring in Germany when he lost control coming out of the pits and was speared by Canadian Alex Tagliani at close to 350 kph Zanardi s race car disintegrated the Italian still strapped into the cockpit was dying with both legs severed above the knee and blood streaming onto the track Safety crews went to work in a desperate effort to save him There seemed little hope as Zanardi who lost all but a liter of blood went into cardiac arrest while being airlifted to a hospital and was given last rites This however would not be the end but rather the start of an even richer chapter Charismatic and immensely talented Zanardi twice captured the Champ Car series title and competed in 41 Formula One grands prix between 1991 and 1999 with his final season at Williams NYSE WMB COMPETITIVE FIRE While Zanardi lost his legs his indomitable spirit survived intact Finding new ways to feed his competitive fire he has competed at two Paralympics in hand cycling winning multiple gold medals He has also raced in the Ironman world championships and several marathons With every new adventure Zanardi has become a symbol of resilience and perseverance However he does not want to be held up as an inspirational talisman The accident for sure was one of the most important experiences of my life Zanardi said During the course of my rehabilitation I had people who were exactly what I needed to be inspired I haven t done any of the things I have done to inspire others but I am sure that if I am watching my story from the outside I would be joining the club saying Wow that guy really gets you going For sure I have done some things in a good way for sure I stood up when it was time to go in front of some adversity but it was also an opportunity for me not to become a better person but a more complete one Racing has been in Zanardi s blood since a very young age It is part of his DNA Ask Zanardi if he wants to continue racing and he answers with another question Does the cat like to chase the mouse he laughs LIFE DECIDES Two years after the accident he returned to the Lausitzring and finished the 13 laps that he had failed to complete during that ill fated race and has also competed in the world touring car championship After Daytona Zanardi says he has no plans but would no say no to the Le Mans 24 Hours I cannot forecast the race Daytona will go well and therefore right after the race will say Alex let s do Le Mans come on let s get that together said Zanardi who will be one of four drivers for the BMW Team RLL in Daytona It is not that important to me but if I can why shouldn t I It is as simple as that Sometimes life decides for you
I really wish for people to try to stay curious to be inspired to be convinced that if we try if we have a plan and we execute this plan with passion and dedication there are a lot of things we can do that other people would maybe judge magical |
WMB | NBA roundup Harden extends streak Rockets stop Raptors | James Harden extended his streak of consecutive 30 point games to 22 but had plenty of help as the Houston Rockets claimed a 121 119 wire to wire victory over the visiting Toronto Raptors who dropped back to back games for the first time since mid December Harden continued his recent struggles from behind the 3 point line missing 11 of 13 attempts However he relied on a variety of floaters and a 15 for 15 performance from the free throw line to produce a game high 35 points as the Rockets claimed back to back victories for the first time this month Eric Gordon gave Houston a 119 108 lead with two free throws at the 1 19 mark then Toronto closed with a dramatic 11 2 run Kawhi Leonard 32 points seven rebounds five assists misfired on a 3 pointer at the buzzer and the Rockets held on to win Kenneth Faried making his home debut for the Rockets posted an energetic double double 21 points 14 rebounds Gordon added 24 points PJ Tucker 18 and Austin Rivers 13 for Houston Jazz 106 Timberwolves 102 Donovan Mitchell scored 24 points and dished out a career high 11 assists to lead Utah to victory over Minnesota at Salt Lake City Rudy Gobert tallied 18 points and 16 rebounds for his 41st double double of the season Kyle Korver added 16 points off the bench Utah won for the eighth time in nine games Karl Anthony Towns scored 33 points and collected 10 rebounds to lead Minnesota Andrew Wiggins added 21 points and 11 rebounds for the Timberwolves who entered on a three game win streak Bucks 108 Hornets 99 Giannis Antetokounmpo finished with 34 points and 14 rebounds and Milwaukee rallied from a 14 point deficit in the second half to beat visiting Charlotte Milwaukee won its sixth straight and improved its home record to 22 4 The Bucks continue to have the best record in the NBA at 35 12 The Hornets had won four of their previous five games Kemba Walker in his first game since being named a starter in the upcoming All Star Game left with 2 06 remaining after sustaining what the team called a neck strain in a scrum for a loose ball Mavericks 106 Pistons 101 One night after the media and players votes overrode the will of the fans to make rookie sensation Luka Doncic an All Star starter Dallas 19 year old standout totaled 32 points eight assists and eight rebounds in a victory over visiting Detroit Along with Doncic recently embattled Mavs guard Dennis Smith Jr showed off his explosiveness with 19 points and five assists to give the Mavericks back to back home wins Dallas dynamic backcourt erased a spectacular performance by Pistons forward Blake Griffin who is practically a shoo in to be selected as an All Star reserve next week He was a one man show for Detroit collecting a game high 35 points plus seven rebounds and four assists Nets 109 Knicks 99 Rookie Theo Pinson totaled career highs of 19 points and eight rebounds as surging Brooklyn extended its winning streak to six games by beating visiting New York The Nets also extended their home winning streak to eight games Brooklyn is 19 5 in its last 24 games equaling the best 24 game stretch in franchise history which has been done eight times and not since 2006 The Nets recorded their latest win by dominating the glass on a commanding 60 33 margin making 32 of 47 free throw attempts and getting 72 points from reserves Nuggets 132 Suns 95 All five Denver starters and three reserves scored in double figures and Denver used a late second quarter surge to take control and defeat visiting Phoenix Paul Millsap scored 20 points while recording nine rebounds and three steals to pace Denver Nikola Jokic the Nuggets leader in scoring rebounding and assists was not in the arena after being suspended by the league earlier Friday for leaving the bench area during a scrum in Wednesday s loss to Utah The Suns have lost seven straight since beating the Nuggets on Jan 12 Phoenix was coming off a 14 point loss to Portland on Thursday and is now 0 9 in the second game of a back to back this season Devin Booker scored a game high 35 points Wizards 95 Magic 91 Jeff Green scored 24 points including the go ahead bucket in the final minute and Washington escaped Orlando Bradley Beal led the Wizards with 27 points the final two to tie the game with 76 seconds remaining and added six rebounds and seven assists Washington is 8 5 since losing John Wall in December and improved to 6 2 in games on the second night of a back to back this season Nikola Vucevic led all scorers with 28 points to go along with nine rebounds for the Magic Aaron Gordon added 22 points 11 rebounds and six assists Orlando has lost five of its last six games Clippers 106 Bulls 101 Lou Williams NYSE WMB scored 31 points and sealed a triple double in the closing seconds while Tobias Harris added 29 points as visiting Los Angeles overcame Chicago despite two of three team buses arriving late to the arena Williams recorded the second triple double from a player off the bench this season and the first one off the bench with at least 30 points since Detlef Schrempf in 1992 Zach LaVine scored 29 points for the Bulls who lost for the 12th time in their last 13 games and fell to 6 19 under head coach Jim Boylen Heat 100 Cavaliers 94 Justise Winslow scored 27 points to lead visiting Miami over Cleveland Miami which trailed by five points at halftime used an 18 5 third quarter run to help secure the victory Winslow who had seven rebounds made 11 of 18 shots from the floor including 4 of 6 3 pointers Cleveland s Cedi Osman scored a career high 29 points The Cavaliers have lost 18 of their past 19 games including nine in a row at home and six straight overall Kings 99 Grizzlies 96 Sacramento scored the final seven points of the first half to take the lead and never relinquished it outlasting host Memphis to snap a two game losing streak Buddy Hield had 26 points and De Aaron Fox 22 for the Kings who won for the second time in five games on their six stop trip that ends Sunday against the Los Angeles Clippers
The loss was the eighth straight for the Grizzlies who got 18 points off the bench from ex Kings forward Omri Casspi Field Level Media |
WMB | Osaka edges Kvitova to claim Australian Open crown | By Sudipto Ganguly MELBOURNE Reuters Naomi Osaka overcame nerves tears and a spirited challenge from double Wimbledon champion Petra Kvitova to claim the Australian Open title with a 7 6 2 5 7 6 4 win on Saturday It was a second successive Grand Slam crown for the Japanese after her U S Open triumph in September and she became the first Asian player to claim the world number one ranking in the process Kvitova saved four matchpoints showing the same resilience she needed to return to the top level of tennis after a knife attack and lengthy surgery in 2016 but her fightback fell just short Osaka shed tears after losing the second set from a 5 3 lead but returned to court after a washroom break calmer and more composed She broke Kvitova in the third game of the final set and converted her fifth matchpoint to end a superb final in two hours and 27 minutes receiving the acclaim of the crowd in stark contrast to her last Grand Slam success While she had heard only boos from an angry and frustrated crowd after defeating home favorite Serena Williams NYSE WMB in an ill tempered U S Open final on Saturday she received a proper coronation from an approving audience at the Rod Laver Arena Hello sorry public speaking isn t really my strong suit so I just hope we can get through this Osaka said after receiving the Daphne Akhurst Memorial Cup from former champion Li Na and a winner s cheque for A 4 1 million 2 95 million Huge congrats to you Petra I ve always wanted to play you and you ve been through so much You re really amazing and I m really honoured to have played you in the final of a Grand Slam The 21 year old Osaka became the youngest women s world number one since Dane Caroline Wozniacki who was 20 when she topped the rankings in 2010 The fourth seed one of the cleanest strikers of the ball in women s tennis also became the first player since Jennifer Capriati in 2001 to win the next Grand Slam after her maiden major title For Kvitova simply being in a Grand Slam final was a triumph of sorts She had missed the tournament two years ago while recovering from an attack by a knife wielding home intruder that left her with a stab wound to her racket hand It s crazy I can t believe I just played a final of a Grand Slam again It s been a while in a final for me said an emotional Kvitova But mostly thank you to my team for sticking with me even if we didn t know if I would be able to hold this racket again Osaka took the first set on a tiebreak after both players had exhibited their entire array of shots in a high quality opening to the match Kvitova s serve which looked impregnable during the early games of the opening set suffered a dip as Osaka took up unconventional receiving positions forcing the Czech to make adjustments Osaka had won 59 straight matches after taking the first set before Saturday s final and showed why as her serves grew bigger and the winners flowed from her racket in the second After an early trade of service breaks in the second set the Czech s confidence appeared shaken and she was broken to love before Osaka held her serve to win a fourth straight game But the 28 year old Czech who had lost just seven out of 33 career finals before Saturday fought back with booming serves to save three matchpoints and hold for 4 5 before breaking Osaka to draw level A teary eyed Osaka could not stop Kvitova s fightback as the Czech won four straight games to win the set after the Japanese served her fourth double fault
A break in the third game of the decider however proved enough for Osaka who fell to her knees as Kvitova s forehand went wide to hand her the title Editing Toby Davis |
WMB | NBA notebook LeBron in full contact drills but won t play Sunday | LeBron James participated in full contact defensive drills for the first time in a month at Los Angeles training complex on Saturday but the four time NBA MVP still won t play Sunday when the Lakers host the Phoenix Suns He was a full participant in that so it was good to see coach Luke Walton told reporters He looked good He s still really good at basketball in case you guys were wondering Sunday will mark the 16th consecutive game James has missed since he strained his left groin on Christmas Day against the Golden State Warriors Prior to this season his 16th in the league the 34 year old James had never missed more than 13 games in a season The Lakers are 5 10 without him including a 120 105 loss to Minnesota on Tuesday In his first season with Los Angeles James is averaging 27 3 points 8 3 rebounds and 7 1 assists in 34 games Jimmy Butler has been ruled out of Saturday night s game against the Denver Nuggets due to his injured right wrist Philadelphia 76ers coach Brett Brown told reporters at the team s midday shoot around in Denver Butler visited a specialist in Los Angeles on Friday and it was determined that he has a sprained wrist This will be the third game Butler has missed since suffering the injury against the Oklahoma City Thunder on Jan 19 Brown told reporters that Butler could return to the lineup for Tuesday s game against the Los Angeles Lakers Brooklyn Nets sixth man Spencer Dinwiddie will have surgery Monday to repair torn ligaments in his right thumb and is expected to miss 3 6 weeks ESPN reported The fifth year point guard met with two specialists and both recommended surgery according to ESPN s Adrian Wojnarowski On Friday Nets coach Kenny Atkinson had said Dinwiddie could possibly continue playing and wait until the offseason to have the operation Dinwiddie 25 is averaging a career high 17 2 points with 5 0 assists and 2 5 rebounds per game this season Milwaukee Bucks backup center Thon Maker has told the team he wants to be traded somewhere he can get more playing time ESPN s Adrian Wojnarowski reported Saturday After starting 34 games as a 2016 17 rookie and averaging 16 7 minutes per game in 2017 18 Maker 21 has averaged just 11 7 minutes in 35 games zero starts this year in coach Mike Budenholzer s first season with Milwaukee The 7 foot 1 Maker the No 10 pick in the 2016 NBA Draft will be eligible to negotiate a rookie contract extension this offseason He is averaging 4 7 points and 2 7 rebounds for the Bucks who have the NBA s best record at 35 12 entering Sunday s game at Oklahoma City Memphis guard Garrett Temple will miss one to two weeks with a mild left shoulder strain the Grizzlies announced The injury occurred Friday near the end of the first quarter when he collided with a Sacramento player in the Grizzlies 99 96 loss in Memphis Temple in his ninth NBA season did not return finishing with two points in 12 minutes Temple 32 had started all 49 games this season his first with the Grizzlies He is averaging 9 4 points 3 1 rebounds and 31 2 minutes per game He is second on the team with 74 3 point field goals The Chicago Bulls Chandler Hutchison posted the best NBA numbers of his career Friday night 12 points and 12 rebounds but any high was short lived as the rookie forward suffered a right toe injury that could sideline him for an extended period multiple news outlets reported ESPN s Adrian Wojnarowksi reported Hutchison will be re evaluated after two weeks Hutchison the No 22 overall pick in the 2018 NBA Draft out of Boise State has averaged 5 2 points and 4 2 rebounds in 44 games The 22 year old had an MRI exam Saturday morning after X rays taken late Friday raised concern about the injury according to the Chicago Tribune The NBA has fined Minnesota Timberwolves forward Taj Gibson 25 000 for aggressively pursuing and directing an obscene gesture toward an official during Friday s loss to the Utah Jazz The incident occurred after Gibson was assessed two technical fouls and ejected with 6 41 remaining in the third quarter in Salt Lake City
After the Timberwolves 106 102 loss Gibson said he would apologize to the official James Williams NYSE WMB Field Level Media |
WMB | Top 25 roundup No 8 Kentucky stops Kansas extends home streak | Forwards Reid Travis and PJ Washington and guard Keldon Johnson each contributed a double double Saturday as No 8 Kentucky toppled No 9 Kansas 71 63 in a clash of basketball bluebloods in Lexington Ky that highlighted the Big 12 SEC Challenge Travis a graduate senior posted 41 points and 13 rebounds in two previous matchups against Kansas while playing for Stanford He collected 18 points and 12 boards Saturday Washington a sophomore added 20 points and 13 boards and was instrumental in the second half as Kentucky 16 3 won its sixth straight despite trailing at halftime Johnson a freshman added 15 points and 10 rebounds Freshman point guard Ashton Hagans had 12 points and eight assists The win extended the Wildcats home court streak to 16 games and snapped a three game losing streak in the series against Kansas Kentucky and Kansas rank first and second respectively in all time wins for Division I programs No 1 Tennessee 83 West Virginia 66 Lamonte Turner had a season high 23 points in a rare start and Grant Williams NYSE WMB added 19 as the top ranked Volunteers shook off a rough beginning to extend their winning streak to 14 games with a win over the Mountaineers in Knoxville Tenn After needing overtime to win at Vanderbilt just two days after claiming the No 1 ranking in the Top 25 poll on Monday the Volunteers 18 1 had a relatively easy time handling the Mountaineers who have dropped seven of the last eight However Tennessee opened 1 of 8 from the floor and trailed by 12 its largest deficit at any point this season with a little more than 11 minutes left in the first half That s when West Virginia 9 11 which opened 5 of 8 shooting from 3 point range went cold and the Volunteers were able to take over No 2 Duke 66 Georgia Tech 53 RJ Barrett scored 24 points and Zion Williamson added 22 as the Blue Devils overcame a second half deficit to defeat the visiting Yellow Jackets in Atlantic Coast Conference action in Durham N C The Blue Devils 17 2 6 1 have won 12 straight meetings against the Yellow Jackets 11 9 3 4 Barrett and Williamson are the top freshman scoring duo in the country but Duke made only 2 of 21 3 point attempts and finished with its lowest point total of the season No 3 Virginia 82 Notre Dame 55 De Andre Hunter scored 19 points and Kyle Guy added 15 as the Cavaliers had little trouble disposing of the Fighting Irish in their Atlantic Coast Conference matchup in South Bend Ind Virginia 18 1 6 1 ACC scored the game s first 12 points while Notre Dame 11 9 1 6 struggled mightily against the Cavaliers top rated scoring defense which entered the game allowing only 52 4 points per game John Mooney finished with 15 points and 10 rebounds to lead the Irish He made 3 of 4 3 point attempts but just 6 of 15 shots overall No 10 Virginia Tech 78 Syracuse 56 Justin Robinson scored a career high 35 points and set two team records as the Hokies remained perfect at home with a rout of the Orange Robinson who entered the game averaging 13 1 points and shooting 37 percent from 3 point range set a single game school record with nine made 3 pointers on 13 attempts The senior guard also dished out eight assists Saturday giving him a program record 548 in his stellar career The Hokies 16 3 5 2 in ACC shot 52 1 percent from the field and 14 of 30 from beyond the arc to improve to 11 0 at Cassell Coliseum their best start at home since the 2009 10 season Ahmed Hill added 16 points for Virginia Tech which had dropped two of its previous three games No 12 Marquette 87 Xavier 82 Markus Howard scored 31 points as the Golden Eagles overcame an 11 point second half deficit and recorded a victory over the host Musketeers in Cincinnati Howard notched his fifth 30 point game of the season the 13th of his career and the third against Xavier as Marquette 18 3 7 1 Big East won its seventh straight since a 20 point loss at St John s on Jan 1 Brothers Joey Hauser and Sam Hauser added 21 and 20 respectively as the duo shot a combined 13 of 24 and hit 9 of 13 3 point attempts Sam Hauser gave the Golden Eagles the lead for good when his 3 pointer put Marquette ahead 71 69 with 3 57 left Illinois 78 No 13 Maryland 67 Freshman Tevian Jones 3 pointer at 4 49 broke a 59 59 tie and propelled the Illini to an upset of the Terrapins at Madison Square NYSE SQ Garden in their Big Ten matchup in New York City Fellow freshman Ayo Dosunmu scored a team high 20 points and Illinois 6 14 2 7 Big Ten got a big boost from its bench against the mistake prone Terrapins 16 5 7 3 who committed 15 of their 21 turnovers in the second half Jones finished with a career high 18 points as the Illini reserves compiled a commanding 37 12 edge in bench scoring He had scored a total of 28 points all season prior to his breakout at the league s annual Super Saturday College Hoops Hockey doubleheader at the Garden No 14 Texas Tech 67 Arkansas 64 The Red Raiders dug deep to end their frustration holding off the Razorbacks to clinch the SEC Big 12 Challenge contest in Lubbock Texas Davide Moretti scored 21 points including a pair of free throws to slam the door and Jarrett Culver came alive in the second half to score 15 as the Red Raiders avoided a fourth consecutive loss Daniel Gafford led the Razorbacks with 14 points after missing most of the first half with a pair of fouls Mason Jones and Jalen Harris added 11 points each No 22 Mississippi State 92 No 16 Auburn 84 Quinndary Weatherspoon scored 27 points as the Bulldogs held off the Tigers in an SEC game in Starkville Miss Lamar Peters added 16 points and 10 assists Nick Weatherspoon scored 12 points and Reggie Perry came off the bench to collect 10 points and 11 rebounds for the Bulldogs 15 4 3 3 Bryce Brown scored 18 Chuma Okeke added 16 Jared Harper had 15 and Anfernee McLemore had 10 for the Tigers 13 6 2 4 who lost their third straight No 24 Iowa State 87 No 20 Ole Miss 73 In the first matchup of Top 25 teams in the three year history of The Pavilion in Oxford Miss the Cyclones never trailed and shot nearly 70 percent from the field in cruising past the Rebels as part of the SEC Big 12 Challenge Talen Horton Tucker paced the Cyclones 15 5 with a game high 23 points hitting 11 of 18 shots from the field Lindell Wigginton came off the bench to score 18 points and Marial Shayok added 17 Iowa State tallied 26 assists on 38 field goals and posted a 46 26 advantage in points in the paint No 21 North Carolina State 69 Clemson 67 Braxton Beverly made a 3 pointer as time expired to lift the Wolfpack to a victory against the visiting Tigers in an Atlantic Coast Conference game in Raleigh N C Beverly a sophomore guard who missed his first four attempts from long range got an opportunity to save the Wolfpack after Clemson guard Marcquise Reed the league s second leading shooter from the free throw line missed four free throws in the final 13 seconds that could have sealed the Tigers first ACC road victory of the season Beverly had 12 points for the Wolfpack 16 4 4 3 who improved to 12 1 at home this season Clemson 11 8 1 5 slipped to 0 4 on the road in conference play and has lost five of its last six overall No 23 Louisville 66 Pittsburgh 51 Sophomore Jordan Nwora scored 17 points to lead the Cardinals to a home win over the Panthers avenging the only setback they have suffered during a recent hot stretch The Cardinals 15 5 6 1 ACC have won five in a row and six of their last seven games with the only loss in that stretch being an overtime defeat at Pitt on Jan 9 Pitt 12 8 2 5 again was a thorn in Louisville s side for the first 22 minutes taking a 36 31 lead with 18 36 remaining But then Louisville took control going on a 7 0 run to take a 38 36 lead with 16 56 left No 25 LSU 86 Missouri 80 Skylar Mays led a 15 1 rally late in the fourth quarter and Ja vonte Smart made a tiebreaking 3 pointer in overtime as the visitors stormed back to win the SEC game in Columbia Mo Mays finished with 24 points Smart and Naz Reid had 14 each and Tremont Waters scored 13 as LSU won its ninth straight game to improve to 16 3 6 0 in SEC play
Jordan Geist had 25 points and 11 rebounds Jeremiah Tilmon added 15 points and Javon Pickett had 13 to lead Missouri 10 8 1 5 Field Level Media |
WMB | Motor racing Fraga happy to blur the lines between real and virtual | By Alan Baldwin LONDON Reuters The lines between virtual racing and the real racetrack are increasingly blurred and Igor Fraga hopes that growing overlap can also help him move up the conventional motorsport ladder In a world of screens and simulators where teenagers without cars or driving licenses can become world champions the Brazilian sees esports success as a way to further his real racing career The Japanese born 20 year old this month won the finals of the McLaren Shadow Project beating 500 000 entrants to secure a seat on the esports roster at Formula One s second most successful team Fraga an esports racer for the Williams NYSE WMB F1 team last year had already won the first virtual world championship organized by motor racing s world governing body the FIA Gran Turismo Nations Cup title in Monaco That brought an invitation to the FIA s gala awards in St Petersburg last December a very real trophy and a congratulatory message from five times world champion Lewis Hamilton himself a keen gamer And yet Fraga s focus remains very much on what he started out doing The real target is the real racing he told Reuters in a phone interview from his home in Ipatinga in Brazil s Minas Gerais state You never know how esports are going to develop in a few years I don t have plans to abandon the virtual side I probably will be going to do them both This makes me different right now compared to the other drivers Fraga won seven national karting titles in Japan and an eighth in Asia before moving back to Brazil where he has raced in Formula 1600 and won domestic Formula Three honors Japanese boyhood karting rival Tadasuke Makino won a race in Formula Two last year a rung down from Formula One The Brazilian has also competed in U S F2000 part of the Road to Indy driver development program I try to follow my dream which is being in an F1 car one day said Fraga who like many racers has struggled to raise funds for racing I will just keep doing the same fighting with everything I have to achieve it GRASSROOTS ALTERNATIVE The Shadow project also involves tests of fitness and real driving skills with the winner likely to have a role at grand prix weekends giving VIP guests supercar Hot Laps around circuits It could also lead to Fraga competing in the Formula One esports world championship and McLaren possibly supporting his racing career McLaren boss Zak Brown has spoken often of gaming becoming a grassroots alternative to karting whose costs are too steep for many youngsters as a first step on the competitive motorsports ladder He recently suggested the sport could see someone emerge from gaming to win real races and championships within a decade a view echoed by Ben Payne McLaren s director of esports A gaming PC and rig and screens is a damn sight cheaper than going karting every weekend And I think the skill set is there Payne told Reuters Putting a timescale on it is tough because esports is so fast moving and motorsport is also But I think there will definitely be someone in F1 from a gaming background soon Other gamers have made the leap elsewhere in motorsport with Spaniard Lucas Ordonez making his Le Mans 24 Hours debut in 2011 after winning a Nissan GT Academy competition on Playstation Fraga felt that unlike other online sports such as the NBA or soccer the virtual and real were increasingly entwined in motor racing with F1 drivers such as Red Bull s Max Verstappen and McLaren s Lando Norris also active in gaming circles I think right now the road is being built said the Brazilian It is getting very close to the point where probably instead of doing karting you start doing simulator and are able to achieve the top The thing is growing so quick that I believe in a few years we will have more programs to get from the virtual world to the real world Further evidence was provided by Italian Enzo Bonito another member of McLaren s esports team who took part in the annual Race of Champions event in Mexico City this month Bonito a gamer with limited car experience took on former Formula E champion Lucas di Grassi and ex IndyCar champion and Indy 500 winner Ryan Hunter Reay in real and equal machinery and beat them both Payne said the fact that virtual racers can crash without consequence whereas there is a risk of serious injury in real racing was less of a factor than might be expected when it comes to putting them in cars Whenever we ve put the esports guys in cars they don t kerb a tyre they don t spin they don t break anything he explained That s because they know what they re doing They ve done it virtually and they know every track in the world they know the cars and they just do what they do |
WMB | No deal no problem Wetherspoon pubs boss raises a glass to Brexit | By Helena Williams NYSE WMB BLACKPOOL England Reuters Wetherspoon s boss Tim Martin says British business has nothing to fear from leaving the European Union without a deal and to prove it he s Brexiting his pubs by swapping French champagne and cognac for English sparkling wine and Australian brandy The 63 year old entrepreneur has just completed a two month tour of 100 of his pubs to campaign for a no deal Brexit over a pint of beer or a drink from one of their new suppliers In the northwest England seaside resort of Blackpool where 67 5 percent voted to leave the EU about 50 locals turned out on a January afternoon at The Velvet Coaster a three floor superpub that opened in 2015 to hear him speak Martin was one of the few big business leaders who publicly backed Brexit during Britain s 2016 referendum on EU membership and he is now in an even smaller group of those pushing for the country to leave the bloc without a withdrawal deal We can eliminate tariffs on thousands of products many of which aren t made in the UK like rice bananas oranges New Zealand wine 12 000 products and that will make people in the country better off he said in an interview at the bar Many of Britain s big companies shied away from the debate in 2016 fearful of alienating customers on the opposing side Martin had no such qualms and has continued to campaign on television in the company s stock market reports and even on beer mats for a complete break with Brussels He said he was testing the validity of the scare stories about a no deal Brexit such as empty shelves caused by snarl ups at ports in his own pubs which offer cut price deals on drinks and meals Wetherspoon had a European supply chain we were buying French brandy French champagne spirits from Germany and so on and we ve switched because people said the ports might seize up which I don t think they will he said We ve got equal or better products at lower prices from outside the EU Retailers such as Sainsbury s Marks Spencer and McDonald s warned on Monday of major short term disruption if there were no Brexit deal adding it would be impossible to stockpile fresh food They also said setting import tariffs at zero would devastate Britain s farmers Martin however said companies needed to raise their eyes above the horizon noting that 93 percent of the world s population was outside the EU He said beyond changing suppliers Wetherspoon which has more than 900 pubs did not have to do anything to prepare for a no deal Brexit No one s said we need to do anything and I don t think we do he said after posing for selfies with customers We re just pulling pints and making fish and chips as usual Retiree Jean Greaves aged 76 who voted leave in 2016 said in the pub that Britain might have a rough few weeks after Brexit day on March 29 but then I think we ll start bouncing back I truly do On a nearby street Jonathan Brown aged 64 who was in the minority that voted to remain in the EU said he had no time for those who said no deal would be good for business
I think they re deluded absolutely deluded he said |
VZ | Why Nokia Is The 5G Stock Set To Take Off | Wireless technology has come a long way
The first generation of wireless known as 1G was rolled out in the 1980s The only thing a user could do with 1G was make a phone call
At times the call quality could rival that of two tin cans connected by a string
But wireless tech has made huge advances since those early days
About every 10 years we ve seen a new generation of wireless 1G 2G 3G and today s 4G Each was faster and more reliable than the previous generation
As you may already know we are about to see the next generation of wireless It s the new 5G technology which is slated to hit the market this year
And that creates a big opportunity for investors
Why 5G Is So Important
To understand why 5G is such a big deal you must understand one thing latency
Latency is when there are delays in sending information from one point to the next This is different than bandwidth which is the volume of data being transferred not the speed of the transfer
The lower the latency the faster information can race across a network
And the 5G network has very very very low latency This core attribute of 5G will revolutionize many industries
Remote medical procedures are just one example Low latency will enable remotely located robots to instantly mimic human movements
This will give doctors the real time response they need to perform surgery on a patient located anywhere in the world
The next era of self driving cars will also depend on 5G The new technology will allow cars to talk to each other in real time
5G will even change farming Farm equipment company John Deere is developing 5G technology that promises to radically boost crop yields
5G is a gamechanger And there s been a ton of money flowing into 5G related companies
Major Investment in 5G Is Already Underway
Companies have already spent over 200 billion on 5G infrastructure
Most of this money has gone toward building 5G ready cell towers
That s a lot of money but there is much more to come Research firm Moor Insights Strategy expects that 5G related IT hardware spending will reach 326 billion by 2025
See to achieve the speed and reliability of 5G requires lots of cell towers
Today the 4G network uses 25 000 cell towers across the US Each one is 100 feet or more tall and they are spaced several miles apart
The 5G network will need 200 000 cell towers that are much smaller and spaced in a much tighter web across the US
So in the near term almost all 5G spending will go to building out the cell tower grid
When it s ready 5G speeds will be 20 gigabytes per second That s 1000x faster than today s 4G technology
5G will make wireless bandwidth seem infinite And the companies building the infrastructure for this new technology will be the first to profit
Picking the Right Horse in the Race to 5G
There are a few ways to invest in the evolution to 5G
You could buy the stock of companies that maintain and operate 5G infrastructure These would be stable dividend companies like AT T NYSE T Verizon NYSE VZ and China Mobile OTC CHLKF
These are low risk limited upside investments that will take time to bear fruit
Things work slowly in the telecom space We saw this play out when 4G was introduced
To gain the benefits of the 4G network users had to replace their 3G phones Phones aren t cheap and 3G phone owners had to first be convinced that the new phones and features were worth the money That took some time
Instead I recommend going the picks and shovels route This means companies who build the infrastructure that supports 5G technology
These companies are making money from their 5G investments right now
I like to buy companies that sell the picks and shovels that industries need like investing in farm machinery companies rather than agricultural businesses
In the 5G space this would be companies that sell the hardware software and services to telecom companies
And we can leverage our bet by owning a company with exposure to the international adoption of 5G technology
There s only one company that fits these criteria
Nokia NOK
Nokia NYSE NOK is a Finnish multinational telecommunications company It is the world s third largest telecom equipment manufacturer after Huawei and Cisco NASDAQ CSCO
The company is split into two segments
Nokia Networks 90 of sales provides systems and software to build high capacity network infrastructure
Nokia Technologies 10 of sales develops consumer products and licenses technology for the Nokia brand
Almost all of Nokia s business comes from selling data networking and telecom equipment That s just what we want because I expect those types of sales will see big growth as 5G investment ramps up
The build out of the 5G network will be global and Nokia is a truly international company
Even better two of Nokia s biggest rivals ZTE HK 0763 and Huawei were blacklisted by the US government This will shrink NOK s competition in this US market to pretty much just one company Ericsson BS ERICAs
The investment flow into 5G from the major telecom companies has already started to climb
In July Nokia received a 3 5 billion contract from T Mobile US which was reportedly the largest 5G deal ever
T Mobile has about a 17 share of the US wireless market making this a major win for NOK
This Play Will Take Time Be Patient
The flow of investment will not however hit the 5G market like a giant wave
It will be more like a steadily rising tide In fact NOK management expects 5G investment to be soft in the first half of 2019
But that s perfect for investors It gives us an opening to get in before the tide of money starts to rise
The multibillion dollar contract from T Mobile looks like a sign of some early pump priming for more 5G spending
The other major wireless carriers in the US aren t going to let themselves lag behind in the race to 5G
I think we will soon see bigger 5G contracts make the headlines As a major player in a market with limited competition Nokia will almost certainly win a lot more US sales by the end of 2019 |
VZ | Verizon Communications VZ Dips More Than Broader Markets What You Should Know | Verizon Communications VZ closed the most recent trading day at 58 18 moving 0 95 from the previous trading session This change lagged the S P 500 s 0 69 loss on the day Meanwhile the Dow lost 0 87 and the Nasdaq a tech heavy index lost 0 79
Heading into today shares of the largest U S cellphone carrier had gained 2 69 over the past month outpacing the Computer and Technology sector s loss of 7 49 and the S P 500 s loss of 4 53 in that time
Wall Street will be looking for positivity from VZ as it approaches its next earnings report date In that report analysts expect VZ to post earnings of 1 20 per share This would mark no growth from the year ago period Meanwhile our latest consensus estimate is calling for revenue of 32 43 billion up 0 7 from the prior year quarter
Looking at the full year our Zacks Consensus Estimates suggest analysts are expecting earnings of 4 74 per share and revenue of 131 95 billion These totals would mark changes of 0 64 and 0 83 respectively from last year
Investors might also notice recent changes to analyst estimates for VZ Recent revisions tend to reflect the latest near term business trends As a result we can interpret positive estimate revisions as a good sign for the company s business outlook
Based on our research we believe these estimate revisions are directly related to near team stock moves We developed the Zacks Rank to capitalize on this phenomenon Our system takes these estimate changes into account and delivers a clear actionable rating model
The Zacks Rank system which ranges from 1 Strong Buy to 5 Strong Sell has an impressive outside audited track record of outperformance with 1 stocks generating an average annual return of 25 since 1988 Over the past month the Zacks Consensus EPS estimate has moved 0 02 lower VZ currently has a Zacks Rank of 3 Hold
In terms of valuation VZ is currently trading at a Forward P E ratio of 12 38 This valuation marks a discount compared to its industry s average Forward P E of 23 92
Investors should also note that VZ has a PEG ratio of 2 92 right now This popular metric is similar to the widely known P E ratio with the difference being that the PEG ratio also takes into account the company s expected earnings growth rate The Wireless National industry currently had an average PEG ratio of 1 49 as of yesterday s close
The Wireless National industry is part of the Computer and Technology sector This group has a Zacks Industry Rank of 151 putting it in the bottom 42 of all 250 industries
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors Our research shows that the top 50 rated industries outperform the bottom half by a factor of 2 to 1
Be sure to follow all of these stock moving metrics and many more on Zacks com |
VZ | Twilio Inc TWLO Up 0 5 Since Last Earnings Report Can It Continue | It has been about a month since the last earnings report for Twilio Inc TWLO Shares have added about 0 5 in that time frame outperforming the S P 500
Will the recent positive trend continue leading up to its next earnings release or is Twilio Inc 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 drivers Twillio Reports Strong Q1 ResultsTwilio reported first quarter 2019 non GAAP earnings of 5 cents per share which topped the Zacks Consensus Estimate of a penny and also reversed the company s loss of 4 cents in the year ago quarter The company s first quarter revenues soared 81 year over year to 233 1 million and also surpassed the Zacks Consensus Estimate of 224 million Its core products voice messaging and e mail were key growth drivers Moreover results were driven by the acquisition of Sendgrid completed in February Quarterly DetailsThe company s base revenues also jumped 88 year over year to 220 9 million Organic growth for Twilio s base revenues was more than 60 year over year while the same for Twilio SendGrid during the sub period Since Feb 1 was 30 year over year Twilio s top 10 active customer accounts contributed to 14 of its total revenues down from 18 in the year ago period and 20 in the earlier reported quarter Moreover multiple Twilio Flex deals signed in the first quarter are key catalysts Gaining adoption of new products is driving the company s dollar based net expansion rate which stood at 146 in the reported quarter The company s active customer accounts increased to 154 797 as of Mar 31 2019 from 53 985 on Mar 31 2018 Alone in the first quarter Twilio added more than 90 511 active customer accounts Twilio SendGrid contributed more than 84 000 to the count Operating ResultsNon GAAP gross profit climbed approximately 92 year over year to 136 9 million Gross margin expanded 300 basis points bps to 58 Higher margin revenues from Twilio SendGrid are a tailwind The company reported non GAAP operating income of 3 4 million against non GAAP operating loss of 4 7 million in the prior year quarter Balance SheetThe company exited the quarter under review with cash and cash equivalents plus short term marketable securities of 918 9 million compared with 748 3million sequentially Additionally during the quarter under consideration the company used 9 11 million of cash from operational activities compared with 7 98 million of cash generated in the previous reported quarter OutlookFor the full year Twilio expects revenues in the range of 1 102 1 111 billion up from the 1 065 1 077 billion band expected earlier Base revenues are estimated within 1 062 1 068 billion up from the previous prediction of 1 028 1 036 billion The company projects non GAAP earnings per share in the band of 11 13 cents up from 8 11 cents envisioned earlier For the second quarter of 2019 Twilio anticipates revenues between 262 million and 265 million Base revenues are estimated within 252 254 million The company forecasts non GAAP earnings per share to be 2 3 cents The implementation of Verizon NYSE VZ s A2P fee will induce a 50 bps drag in the second quarter and roughly a 100 bps contraction in the overall gross margin thereafter Nonetheless SendGrid s higher margin business and growth in Application Services will be a positive
How Have Estimates Been Moving Since Then
In the past month investors have witnessed an upward trend in fresh estimates The consensus estimate has shifted 20 19 due to these changes
VGM Scores
Currently Twilio Inc has a poor Growth Score of F however its Momentum Score is doing a bit better with a D Charting a somewhat similar path the stock was allocated a grade of F on the value side putting it in the fifth quintile for this investment strategy
Overall the stock has an aggregate VGM Score of F If you aren t focused on one strategy this score is the one you should be interested in
Outlook
Estimates have been trending upward for the stock and the magnitude of these revisions indicates a downward shift Notably Twilio Inc has a Zacks Rank 3 Hold We expect an in line return from the stock in the next few months |
VZ | Senate votes Wednesday on effort to reinstate net neutrality rules | By David Shepardson WASHINGTON Reuters The U S Senate will vote on Wednesday on whether to reverse a decision by the Trump administration to roll back Obama era net neutrality rules Democratic senators said on Monday Advocates of keeping the 2015 open internet rules have the backing of 50 U S senators including Republican Susan Collins And with the absence of Senator John McCain because of illness they believe they will win on a 50 49 vote The effort still faces an uphill battle it is uncertain if the Republican controlled U S House of Representatives will even vote on the issue and the White House backs the Federal Communications Commission FCC rules approved last December The FCC repealed rules set under President Barack Obama a Democrat that barred providers from blocking or slowing down access to content or charging consumers more for certain content Those rules were intended to ensure a free and open internet give consumers equal access to web content and bar broadband service providers from favoring their own material or others The new rules require internet providers to tell consumers whether they will block or slow content or offer paid fast lanes Senate Democratic Leader Charles Schumer said the issue will energize voters in November s congressional elections when a number of lawmakers in President Donald Trump s Republican Party may be vulnerable A vote against this resolution will be a vote to protect large corporations and special interests leaving the American public to pay the price Schumer said in a statement on Monday On Thursday the FCC said the Obama net neutrality rules will expire on June 11 and the new regulations approved in December handing providers broad new power over how consumers can access the internet will take effect Comcast Corp O CMCSA Verizon Communications Inc N VZ and AT T Inc N T have all pledged to not block or discriminate against legal content after the net neutrality rules expire
A group of 22 states led by New York and others have sued to try to stop new rules from taking effect FCC Chairman Ajit Pai a Republican told reporters last week that consumers would not be harmed and he said it would simply return the internet to the pre 2015 oversight |
VZ | FCC investigating website flaw that exposed mobile phone locations | By David Shepardson WASHINGTON Reuters The U S Federal Communications Commission said on Friday it was referring reports that a website flaw could have allowed the location of mobile phone customers to be tracked to its enforcement bureau to investigate A security researcher said earlier this week that data from LocationSmart a California based tech firm could have been used to track AT T Inc N T Verizon Communications Inc N VZ Sprint Corp N S and T Mobile US O TMUS mobile consumers within a few hundred yards of their location and without their consent Senator Ron Wyden an Oregon Democrat on Friday had urged the FCC to investigate saying on Twitter that a hacker could have used this site to know when you were in your house so they would know when to rob it A predator could have tracked your child s cell phone to know when they were alone He later praised the FCC decision to investigate as first reported by Reuters I urge the FCC expand the scope of this investigation and to more broadly probe the practice of third parties buying real time location data on Americans Wyden said Robert Xiao a researcher at Carnegie Mellon University said a flaw in a demo tool from LocationSmart could have been used to track anyone LocationSmart spokeswoman Brenda Schafer said on Friday the vulnerability has been resolved and the demo has been disabled Prior to Xiao s efforts which included locating up to two dozen users Schafer said the company believes no one else exploited the vulnerability The company is committed to continuous improvement of its information privacy and security measures she said Last week the New York Times reported that the former sheriff of Mississippi County Missouri used Securus Technologies CASHAL UL to track mobile phones including those of other police officers without court orders citing charges filed against him Several published reports said Securus is getting its data through an intermediary of LocationSmart Verizon spokesman Rich Young said Friday the company has taken steps to ensure that Securus can no longer access location information about Verizon Wireless customers He added the company has initiated a review of this entire issue AT T spokesman Mike Balmoris said the company does not permit sharing of location information without customer consent or a demand from law enforcement If we learn that a vendor does not adhere to our policy we will take appropriate action Sprint said it is conducting an internal review of the issue T Mobile US did not immediately comment Securus said later on Friday that access to location based services data has been disabled for the time being out of an abundance of caution and in light of ongoing discussions with partners The company also said it has no direct business relationship with LocationSmart adding it is ready to work with law enforcement and vendors to reinstate the service as soon as possible Last week Wyden said that Securus a major provider of correctional facility telephone services was purchasing real time location information from carriers and providing information via a self service web portal for nothing more than the legal equivalent of a pinky promise
Wyden wrote all four of the U S major mobile carriers saying the practice exposes millions of Americans to potential abuse and unchecked surveillance by the government |
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