symbol
stringlengths 1
9
| title
stringlengths 1
701
| text
stringlengths 1
140k
|
|---|---|---|
VZ | Verizon launches tender for notes in euros sterling | Verizon VZ 0 5 has made tender offers for five series of notes in euros and British sterling with a eye to rolling over into intermediate to long maturities in the same denominations It s offering to buy 4 15B in the euro denominated securities and 1 54B in sterling denominated notes a combined 6 93B worth The top priority in the euro based tender is 1 75B in 2 375 notes due 2022 while the top pound based priority is 850M in 4 75 notes due 2034 Now read |
CSCO | No concrete proposition from U S to back Huawei rival Ericsson Swedish minister | By Johannes Hellstrom and Simon Johnson STOCKHOLM Reuters Sweden s digital minister stressed Ericsson s ST ERICb importance for jobs and technology in Europe on Friday after a U S official suggested the United States buy stakes in the telecoms gear maker or Finland s Nokia HE NOKIA to counter Huawei s dominance in 5G U S Attorney General William Barr said in a speech on Thursday that the United States and its allies should consider the highly unusual step of taking a controlling stake in one or both of the Nordic rivals to China based Huawei 5G networks are at the center of a dispute over technology between the United States and China as they are expected to host a range of critical functions from driverless vehicles to smart electric grids and military communications underscoring their importance to national security The United States has blacklisted Huawei and is in the midst of a worldwide campaign to convince allies to ban the Chinese giant from their 5G networks alleging its equipment could be used by Beijing for spying which Huawei denies Barr s comments helped lift shares in the Nordic companies with Ericsson BS ERICAs gaining 4 and Nokia 6 by 1344 GMT Sweden s Minister for Energy and Digital Development Anders Ygeman said potential U S interest in Ericsson made sense given that no U S company offers a full suite of 5G products but he stressed the company s importance for Swedish business At the same time there is no concrete proposition from America and if there were such a proposal it would be up to Ericsson shareholders to respond to that he told Reuters Clearly there is both a strong Swedish and European interest in being able to continue to lead technological development Ericsson is important both for jobs and business in Sweden but also as a technology leader U S government investments in public companies are rare except in bailouts to save ailing firms and jobs and even more so concerning foreign companies The two firms have a combined market capitalization of about 50 billion and it is unclear how the U S government would fund investment in the companies or indeed how European regulators and governments would view such a move HIGHEST PRIORITY While the two companies which together with Huawei dominate the market declined to comment on Barr s remarks Ericsson shareholder activist fund Cevian Capital said it welcomed the apparent U S interest and urged executives at the Swedish company in which it holds an 8 4 stake to explore the potential opportunity A U S interest in Ericsson is clearly positive for Sweden the company and the shareholders Cevian Capital managing partner Christer Gardell told Reuters in emailed comments A potential deal would have to be based on a completely different valuation level than today s ridiculous share price for Ericsson Gardell added The board and management need to drive and handle this question with the highest priority At the World Economic Forum in Davos in January U S President Donald Trump had a dinner with executives from 25 multinational companies and organizations https including the CEOs of Ericsson and Nokia with talks touching on issues such as the 5G networks rollouts in the United States The head of Sweden s shareholders association Aktiespararna said there were likely to be simpler and cheaper ways for the United States to tap into Ericsson s expertise and questioned the wisdom of making clear its interest If the interest in Ericsson is serious it is not the best strategy to spread rumors about it and in that way raise the price of the share making the company more expensive Aktiespararna CEO Joacim Olsson said Investment firm Investor AB ST INVEb the biggest owner by voting rights in Ericsson declined to comment as did the second biggest owner by votes Industrivarden ST INDUa Barr said in his speech at a conference on Chinese economic espionage that a move to secure a controlling interest in Huawei s main rivals could take place either directly or through a consortium of private American and allied companies Over the past decade speculation has circulated among investors and media concerning potential interest from U S technology giant Cisco s O CSCO in a tie up with Ericsson although a concrete offer has never materialized President Donald Trump signed an executive order last year barring U S companies from using telecommunications equipment made by companies posing a national security risk and he has pressed nations not to grant Huawei access to 5G networks
Britain in late January still granted Huawei a limited role in the country s 5G mobile network and the EU followed its example by allowing members to decide what part Huawei can play in its 5G networks |
CSCO | Cisco CVS Lyft Nvidia Shopify Roku and More Major Earnings Coming This Week | The fourth quarter earnings reporting season has reached a peak but many more major companies will be sharing their results soon With the coronavirus China and impeachment dominating the news flow it is increasingly important to pay attention to the fundamentals and what these earnings reports have to say Here 24 7 Wall St has put together a preview of a few of the most anticipated quarterly reports expected this week We have included the consensus earnings estimates as well as the stock price and trading history Be advised that the earnings and revenue estimates may change ahead of the formal reports and some companies may change reporting dates as well Hasbro Inc s NASDAQ HAS fourth quarter report is scheduled for Tuesday before the opening bell The consensus forecast calls for earnings per share EPS of 0 91 on 1 44 billion in revenue Shares slipped belwo 100 apiece on Friday The consensus price target is 116 27 and the 52 week trading range is 102 62 to 126 87 div connatix margin bottom 1 5em div connatix img margin unset Under Armour Inc NYSE UAA also will report its fourth quarter results before the markets open on Tuesday Analysts are looking for 0 10 in EPS and 1 46 billion in revenue Shares ended the week trading above 20 with a consensus price target of 21 45 The stock has a 52 week trading range of 16 74 to 27 72 Expect Lyft Inc NASDAQ LYFT to release its most recent quarterly results late on Tuesday The consensus forecast calls for a net loss of 1 36 per share and 984 17 million in revenue for the fourth quarter The share price was last seen at just shy of 50 The consensus price target is 66 13 and shares have traded between 37 07 and 88 60 since the IPO CVS Health Corp NYSE CVS also is scheduled to report its fourth quarter results on Wednesday morning The consensus estimates call for 1 68 in EPS and revenue of 63 97 billion The stock traded near 72 a share The consensus price target is 81 71 and the 52 week trading range is 51 72 to 77 03 Shopify Inc s NYSE SHOP fourth quarter report is expected Wednesday before the markets open The consensus forecast calls for 0 24 in EPS on 482 05 million in revenue Shares traded around 480 on Friday The consensus price target is 411 46 and shares have traded in a 52 week range of 160 63 to 487 68 The Teva Pharmaceuticals Ltd NYSE TEVA results for the fourth quarter is due first thing Wednesday as well The consensus estimates are EPS of 0 61 and 4 35 billion in revenue Shares have traded just above 12 in recent days The consensus price target is 8 50 and the 52 week range trading range is 6 07 to 19 21 Cisco Systems Inc s NASDAQ CSCO fiscal second quarter report is scheduled for after the close Wednesday The consensus forecast calls for EPS of 0 76 on 11 98 billion in revenue Shares were trading near 48 apiece as the week came to a close The consensus price target is 52 30 and the 52 week trading range is 43 40 to 58 26 Applied Materials Inc NASDAQ AMAT also will report its fiscal first quarter results after regular trading ends on Wednesday Analysts are looking for 0 92 in EPS and 4 11 billion in revenue Shares slipped below 63 on Friday with a consensus price target of 69 26 The stock has a 52 week trading range of 36 80 to 64 93 Duke Energy Corp NYSE DUK is scheduled to report its fourth quarter results first thing Thursday morning The consensus estimates call for 0 87 in EPS and revenue of 6 41 billion On Friday the stock retreated to below 97 per share The consensus price target is 99 25 and the 52 week trading range is 84 28 to 98 05 The Kraft Heinz Co NASDAQ KHC fourth quarter report is expected Thursday before the markets open The consensus forecast calls for 0 68 in EPS on 6 6 billion in revenue Shares briefly traded under 29 on Friday The consensus price target is 30 95 and shares have traded in a 52 week range of 24 86 to 48 66 Pepsico Inc NASDAQ PEP is expected to release its most recent quarterly results early Thursday as well The consensus forecast calls for 1 44 in EPS and 20 27 billion in revenue for the fourth quarter Shares closed near a year to date high over 145 The consensus price target is 140 59 and shares have traded between 111 88 and 145 29 in the past 52 weeks Roku Inc NASDAQ ROKU is scheduled to report its fourth quarter results on Thursday afternoon The consensus estimates call for a net loss of 0 14 per share and revenue of 391 61 million The stock was under 125 a share at week s end The consensus price target is 146 75 and the 52 week trading range is 45 01 to 176 55 And look for Nvidia Corp NASDAQ NVDA to release its most recent quarterly results after the close on Thursday too The consensus forecast calls for 1 66 in EPS and 2 96 billion in revenue for the fiscal fourth quarter Late in the week shares were below 252 The consensus price target is just 248 35 and shares have traded between 132 60 and 259 50 in the past 52 weeks
By Chris Lange |
WMB | Hamilton on pole in Brazil Vettel alongside | By Marcelo Teixeira SAO PAULO Reuters Formula One champion Lewis Hamilton gave Mercedes their 100th pole position at the Brazilian Grand Prix on Saturday with Ferrari s Sebastian Vettel fined and reprimanded for a weighbridge incident starting alongside The pole in a rain affected session at Interlagos was a record extending 82nd of Hamilton s career and his 10th of a season that has already seen the Briton clinch his fifth world championship Mercedes will seal the constructors title on Sunday unless Ferrari NYSE RACE outscore them by 13 points Hamilton s team mate Valtteri Bottas who was on pole in Brazil last year qualified third with Ferrari s Kimi Raikkonen fourth on an all Finnish second row That was a tough qualifying session gasped a delighted Hamilton who had never previously managed to take a pole in a season after winning the title with races to spare The weather was going up and down and we didn t really know what to expect Obviously Ferrari are incredibly quick this weekend I didn t know whether or not I had the pole The last lap wasn t that great if I m honest I had a bit of understeer in a few places added the Briton who has five stars and the late Brazilian Ayrton Senna s design on his helmet He was the only one to improve on his final flying lap after earlier securing provisional pole with a best time of one minute 07 281 seconds a track record and more than a second quicker than last year s pole Hamilton and Vettel provided the main talking points of the session with the former fortunate to escape the immediate attention of the stewards after nearly colliding with the Williams NYSE WMB of Russian Sergey Sirotkin in the second phase Raikkonen also had to swerve to avoid him in another incident Vettel s summons by the stewards was inevitable after he was called in for weighing at a critical point in the second phase with rain threatening making it crucial to get in an early timed lap With a cone barring access to the weighbridge he drove into it and then gesticulated angrily for officials to hurry up before driving off again in a breach of the regulations The governing FIA said that by keeping the engine running he had made it hard to get a stable result and by driving off rather than being pushed he had also destroyed their equipment They shouldn t call us when the conditions are changing like that I think it s unfair if somebody gets pulled in I wanted them to hurry up said Vettel Stewards handed the four time world champion a reprimand for failing to follow instructions his first of the season and a 25 000 euros 28 335 00 fine Before the summons it looked like Ferrari had pulled off a tactical masterstroke as the only team into the final phase on soft tyres rather than the faster but quicker wearing super soft giving them a potential advantage at the race start Red Bull s Max Verstappen qualified fifth with Australian team mate Daniel Ricciardo sixth but dropping five places due to a penalty for having a turbocharger replaced That will lift Sauber pairing Marcus Ericsson BS ERICAs and Ferrari bound Charles Leclerc to sixth and seventh the latter producing a phenomenal lap to get into the final phase in tricky conditions with time running out Haas s Romain Grosjean and Kevin Magnussen will start eighth and 10th respectively with Toro Rosso s Pierre Gasly sandwiched in between |
WMB | Separatist held regions hold elections in eastern Ukraine | By Matthias Williams NYSE WMB and Anton Zverev KIEV MOSCOW Reuters Rebel controlled Donetsk and Luhansk regions in eastern Ukraine hold leadership elections on Sunday in the shadow of a conflict that has killed more than 10 000 people and poisoned relations between Ukraine and Russia Ukraine and its international backers have lined up to condemn the vote as a sham manipulated by the Russian authorities and in violation of a 2015 Minsk ceasefire agreement The United States urged voters to boycott Backed by Moscow separatist rebels seized territory in eastern Ukraine after pro Western protests toppled President Viktor Yanukovich in February 2014 and Russia annexed Crimea a month later The United States called the elections a charade to give false legitimacy to Moscow approved leaders already installed in the self proclaimed Donetsk and Luhansk People s Republics It announced new sanctions on Russia on Thursday These particular elections are a mockery really of the idea of genuine elections that need to be held Kurt Volker Washington s envoy to the Ukraine conflict told reporters on a conference call on Thursday They are under conditions of occupation where there is no freedom of expression no freedom of movement no freedom of campaigning and generally therefore no freedom of choice for the people in electing candidates for legitimate local leadership positions he said Ukraine s President Petro Poroshenko called the elections illegal and represent yet another example of Russian subversive activity Russia disputes that the elections violate the Minsk agreement Actually the deplorable situation with the implementation of the Minsk package was provoked by Kiev s unwillingness to fulfill the Minsk agreements Kremlin spokesman Dmitry Peskov told reporters The Donetsk region s acting head Denis Pushilin is running in Sunday s election after his predecessor Alexander Zakharchenko died in an explosion in August Russia pointed the finger at Ukraine while Kiev s security service blamed internal fighting between the terrorists and their Russian sponsors Several former separatist leaders have fled the Donbass area saying they feared for their lives after their comrades turned on them Other leading separatist commanders have been killed in unexplained circumstances Pushilin is a soap bubble there are completely different people behind him this is Moscow a former separatist leader Alexei Alexandrov told Reuters Ukraine based analyst Volodymyr Fesenko said Russia was using the elections to give legitimacy to the region s leaders and may try to turn the fighting into a frozen conflict with the two breakaway regions as protectorates
Peskov acknowledged Russia had influence on the region s leaders but said it is not unlimited |
WMB | NBA roundup Aldridge double double leads Spurs over Rockets | LaMarcus Aldridge posted a double double and paced the host San Antonio Spurs to a 96 89 victory over the Houston Rockets on Saturday in the first meeting this season between the Southwest Division rivals Aldridge finished with 27 points and 10 rebounds while Derrick White added 14 points and eight assists DeMar DeRozan and Bryn Forbes scored 13 points apiece for the Spurs who snapped a two game skid Harden led the Rockets with 25 points but shot just 7 of 27 from the field Eric Gordon added 23 and Clint Capela recorded a double double 12 points 17 boards for the Rockets who dropped the final two games of their five game road trip while shooting just 33 3 percent 30 for 90 Raptors 128 Knicks 112 Pascal Siakam scored 14 of his career best 23 points in the third quarter and Toronto remained undefeated at home in blowing out New York The Raptors have won six in a row and are off to a franchise best 12 1 start to the season that includes a 7 0 home record Jonas Valanciunas added 19 points and 10 rebounds for the Raptors who shot 53 2 percent from the field The Knicks lost for the third time in four games despite 27 points from Tim Hardaway Jr Enes Kanter added 15 points and 15 rebounds Grizzlies 112 76ers 106 OT Mike Conley scored a season high 32 points and Marc Gasol recorded 18 points 12 rebounds and six assists to lead host Memphis to a comeback win against shorthanded Philadelphia The Grizzlies rallied from their largest deficit of the season 16 points and forced overtime when Garrett Temple s 3 pointer tied the score at 102 all with just under 40 seconds left Joel Embiid recorded his league leading 13th double double with 14 points and 16 rebounds JJ Redick scored 20 but only four in the second half Ben Simmons also totaled 18 points and 14 rebounds Warriors 116 Nets 100 Quinn Cook scored 19 of his 27 points in the first half in his first start in place of the injured Stephen Curry helping host Golden State roll to victory over Brooklyn Kevin Durant had game highs with 28 points with 11 assists and Klay Thompson added 24 as the Warriors bounced back from a home loss to Milwaukee to win convincingly despite the absence of Curry and Draymond Green Joe Harris fired in a team high 24 points for Brooklyn which was playing the second half of a back to back that began with a dramatic 112 110 win at Denver on Friday night Clippers 128 Bucks 126 OT Lou Williams NYSE WMB hit a teardrop layup in traffic with less than a second remaining in overtime to give Los Angeles a signature win in beating visiting Milwaukee Williams who leads the NBA in scoring off the bench had a modest 12 points but added 10 assists as the Clippers have won three of their past four games Montrezl Harrell added 26 bench points and nine rebounds while Patrick Beverley scored a season high 21 points for the Clippers Giannis Antetokounmpo scored 27 points with 18 rebounds and five steals for the Bucks Pelicans 119 Suns 99 Anthony Davis had 26 points and 13 rebounds as shorthanded New Orleans led wire to wire in a rout over visiting Phoenix Davis led four Pelicans in double figures as Julius Randle scored 22 points with 15 rebounds Jrue Holiday scored 19 with nine assists and E Twaun Moore added 17 The Pelicans played without two starters as point guard Elfrid Payton and forward Nikola Mirotic both were sidelined by sprained right ankles T J Warren scored 25 rookie Deandre Ayton had 20 points and 12 rebounds and Devin Booker had 12 points for the Suns who lost for the 10th time in 11 games Lakers 101 Kings 86 The Los Angeles Lakers have a 500 record for the first time this season after a road win against Sacramento LeBron James scored 25 points for Los Angeles which has won four of five and six of nine Tyson Chandler had a team high 12 rebounds off the bench in his second game since joining the Lakers De Aaron Fox scored 21 points to lead Sacramento Marvin Bagley III had 13 points off the bench and Willie Cauley Stein had 12 points and 12 rebounds for the Kings who had won six of eight coming in Wizards 116 Heat 110 John Wall scored 28 points with nine assists reserve Jeff Green added 19 points and 10 rebounds and visiting Washington defeated Miami for its third win of the season Dwight Howard had 11 points and 16 rebounds and Bradley Beal finished with 18 points for the Wizards who had lost seven of their past eight games overall and improved to 2 6 on the road Josh Richardson led the Heat with 24 points and Rodney McGruder added 22 Hassan Whiteside had 15 points and 14 rebounds as Miami lost its second straight Bulls 99 Cavaliers 98 Zach LaVine scored 24 points and Wendell Carter Jr added 15 as Chicago got off to a quick start and held on for a victory over visiting Cleveland Cleveland had one last possession to go out in front but Collin Sexton missed a short shot inside got his own rebound and had his shot at the buzzer blocked by Jabari Parker
The Bulls grabbed a much needed victory after losing five of their previous six games The Bulls jumped out to a 37 23 lead after one quarter and built a 16 point lead in the second quarter before the Cavaliers worked their way back into the game Field Level Media |
WMB | Siniakova shines as Czech Republic claim sixth Fed Cup in eight years | By Jason Hovet PRAGUE Reuters The Czech Republic won their sixth Fed Cup title in eight years on Sunday as world doubles number one Katerina Siniakova outlasted American Sofia Kenin in a marathon match in front of a boisterous sold out home crowd In an exciting back and forth rubber lasting three hours 45 minutes Siniakova held off the 19 year old Fed Cup debutante 7 5 5 7 7 5 to give the Czechs a 3 0 win in the best of five final before being embraced by team mates in front of the 14 500 fans at the O2 Arena The Czechs were without their two top players against a United States team who were the defending champions but were also missing their stars and fielding three tournament newcomers including Kenin Fans though were still treated to a show with a decisive match marked by long rallies on Sunday as the Russian born Kenin tried to get a point for the U S after her team fell 0 2 behind on Saturday s opening day She came close but was denied two matchpoints by doubles expert Siniakova who stepped into singles play with world number eight Karolina Pliskova out with injury and twice Wimbledon champion Petra Kvitova sick It was an unbelievable match for me It was up and down nerves 22 year old Siniakova said on the court after the match that was just short of the longest rubber at four hours flat in Fed Cup history I am just terribly happy I won The competition s two most successful nations were meeting in a Fed Cup final for the first time in more than three decades The U S team though had to rely on three Fed Cup newcomers as they were missing Serena and Venus Williams NYSE WMB holders of a combined 30 grand slam singles titles along with world number six Sloane Stephens and Madison Keys semi finalist at both Roland Garros and Flushing Meadows We did not get the result that we wanted but nobody can say that we didn t leave it all out there U S captain Kathy Rinaldi said TWISTS AND TURNS Siniakova looked ready to cruise through after getting a break point in Kenin s first service game But the American put up a fight and narrowly missed forcing a tiebreak before Siniakova took the first set with a strong forehand smash The Czech raced to 3 0 again in the second set But Kenin then fought off two break balls and used a beautiful drop shot to hold serve starting a comeback She evened the match with a forehand winner past Siniakova for set point The third set started in similar fashion and Siniakova went ahead 4 1 after a 19 minute game in which Kenin squandered five break balls But the Czech failed to get her momentum until later when she denied Kenin two match points She started the final game with a nicely placed crosscourt drop shot on the run and then Kenin returned a backhand wide on match point igniting Czech celebrations The Czechs claimed their 11th Fed Cup title including five as part of Czechoslovakia The Americans have won 18 titles and showed on Sunday the younger players could carry on the tradition one day Kenin also pushed Czech veteran Barbora Strycova playing in her final tie for the Czechs after a 16 year Fed Cup career to three sets on Saturday
I am proud of the way I competed I never gave up When I was down I was still fighting out there said Kenin who broke the top 100 in 2018 and ended the year ranked 48th |
WMB | Fed s Daly Sees December Rate Hike at Least Two 2019 Moves | Bloomberg Federal Reserve Bank of San Francisco President Mary Daly said U S policy makers ought to be gradually lifting interest rates to bring an economy that s running above potential in for a soft landing
It wouldn t be surprising to me that we would need to go up again in December and at least a couple of times next year Daly told Bloomberg News in her first interview on policy since she became head of the regional Fed branch on Oct 1 In my modal expectation I think that s what will be needed
She voted for the first time at the Fed s policy meeting in November and will vote again at the Dec 18 19 gathering at which officials are expected to hike for the fourth time this year
We have an economy that is running above potential a labor market that s hot robust and normalizing policy in a way that creates a soft landing I think is a challenging issue she said It s a process of iterative learning Daly served as San Francisco Fed research director when it was led by now New York Fed President John Williams NYSE WMB
The Fed is raising rates at a time when the economy is looking strong and wage pressures are creeping up Unemployment has fallen to 3 7 percent its lowest level since the 1960s and inflation is near the Fed s 2 percent goal
I don t feel worried about inflation I m actually relieved that it s come back to target and I m feeling optimistic that it will remain at target Daly said in the interview
December Hike
The probability of a December rate increase is hovering around 75 percent based on trading in federal funds futures and most Fed officials have said they support further gradual rate increases But 2019 could require policy makers to make tough calls They expect to reach the level at which monetary policy turns from stimulative to restrictive so called neutral at some point next year
Some Fed officials say the central bank should survey the economic landscape when they reach that point while others point to U S s low unemployment rate and say rates may go higher to prevent the economy from running too hot Policy makers economic projections show that the median official has penciled in a mild overshoot of neutral rate starting next year
Daly said she ll be watching how markets and the economy react to policy and keeping an eye out for shocks to the economy as she thinks about how policy makers should proceed once they hit the dividing line between easy and restrictive
Where to go after that remains uncertain Daly said shortly before delivering a scheduled speech in Idaho Falls Idaho
Trade Uncertainty
She said she s watching closely for any signs that uncertainty over trade policy is rattling businesses and indicated she isn t worried about recent stock market falls
There was a broad consensus across policy makers but also market participants that valuations were higher than could be supported she said So then a correction is something that I would view as a positive
She said from a policy maker s perspective it actually suggests that financial markets are re bridling themselves
When you see these other factors emerge that financial markets are readjusting and banks are getting themselves in order to sustain slower growth then that means that there are self bridling mechanisms in the economy that are going to be augmenting the interest rates increases that we have taken
Updates with more Daly quotes in fourth paragraph |
WMB | NBA roundup LeVert hurt as Nets lose | Karl Anthony Towns finished with 25 points and 21 rebounds Monday night as the Minnesota Timberwolves halted a five game losing streak with a 120 113 victory in Minneapolis over the Brooklyn Nets who lost Caris LeVert to an apparent serious right leg injury Towns posted his seventh double double by shooting 9 of 11 from the floor He had the double double by halftime then posted his sixth career game with 20 points and 20 rebounds and the 55th in team history The Wolves played their first game since trading Jimmy Butler to Philadelphia Minnesota obtained Dario Saric and Robert Covington though neither player was active LeVert who was injured attempting to defend a fast break layup attempt by Josh Okogie was placed on a stretcher and taken by ambulance to a hospital for further evaluation Clippers 121 Warriors 116 OT Lou Williams NYSE WMB broke a tie with a layup with 55 2 seconds remaining in overtime and later added three free throws after getting fouled on a 3 point attempt pushing host Los Angeles to victory over Stephen Curry less Golden State Williams tiebreaking hoop came after Klay Thompson capped a 31 point performance with a 3 pointer with 1 07 to go to produce a 116 all tie The Warriors forced overtime by scoring the final 11 points of regulation while holding the Clippers without a field goal for the final 6 08 Kevin Durant recorded a triple double for Golden State before fouling out accumulating 33 points 11 rebounds and 10 assists Curry is sidelined because of a groin injury Pelicans 126 Raptors 110 Jrue Holiday tallied 29 points and 14 assists and E Twaun Moore scored 30 points as New Orleans defeated host Toronto Anthony Davis added 25 points and 20 rebounds for the Pelicans who won their third game in a row by giving the Raptors thir first home loss in eight games this season Toronto is 12 2 overall Pascal Siakam scored 22 points for the Raptors Kawhi Leonard added 20 points Serge Ibaka had 19 points and 14 rebounds OG Anunoby 17 points and Fred VanVleet and Delon Wright 10 points each Thunder 118 Suns 101 Paul George scored 32 points as host Oklahoma City playing without Russell Westbrook for the fourth consecutive game beat Phoenix George who was 11 of 19 from the floor including six 3 pointers scored 21 of his points before halftime as the Thunder built a lead as big as 28 points in the first half Westbrook is still recovering from a sprained left ankle suffered Nov 5 Dennis Schroder filling in for Westbrook as the starting point guard had 20 points and nine assists Mavericks 103 Bulls 98 It took seven tries but Dallas finally notched its first road win of the season by holding off Chicago Harrison Barnes led the Mavs to a second consecutive victory and their first road win since last March with 23 points five rebounds and four steals Dennis Smith Jr scored all 11 of his points in the second half to help keep the Bulls who got within one point three times down the stretch at bay The Bulls failed to win consecutive games thanks to an ugly shooting night dipping to 39 3 percent for the game including 8 of 33 from beyond the arc They turned the ball over 17 times Zach LaVine led Chicago with 26 points giving him at least 20 in every game this season 76ers 124 Heat 114 Joel Embiid posted 35 points 18 rebounds and three assists leading Philadelphia over host Miami Embiid has nine games this season with at least 30 points and 10 rebounds Nobody else in the NBA has more than three JJ Redick added 25 points to lead Philadelphia to its seventh win in its past 10 games Miami which lost its third straight game all of those at home was led by Goran Dragic 22 points five assists Josh Richardson 17 points and Hassan Whiteside 13 points 11 rebounds Wizards 117 Magic 109 John Wall had 25 points and 10 assists and Bradley Beal added 21 points as host Washington defeated Orlando for its second straight win The Wizards outscored the Magic 31 20 over the final nine minutes to avenge a loss in Orlando on Friday Jeff Green scored 18 points on 6 of 7 shooting off the bench for Washington and Dwight Howard finished with 17 points and eight rebounds in 29 minutes Reserve Terrence Ross led Orlando with 21 points and Evan Fournier scored 20 Jazz 96 Grizzlies 88 Joe Ingles scored 19 points while Rudy Gobert added 15 points 16 rebounds and three blocks to lead Utah past host Memphis Derrick Favors and Donovan Mitchell chipped in 12 points apiece and Favors added eight rebounds to help Utah notch its third straight win Mike Conley scored 24 points and Marc Gasol added 16 to lead Memphis The Grizzlies held Utah to just 39 percent shooting but could not overcome their own 4 of 24 outing from the perimeter Kings 104 Spurs 99 Bogdan Bogdanovic poured in 22 points off the bench to lead six Sacramento players in double figures in beating visiting San Antonio for the first time in 15 games The game was tied at 90 with 5 11 to play before the Kings reeled off a 10 0 run that featured 3 pointers by Nemanja Bjelica and De Aaron Fox and an alley oop dunk on the break by Willie Cauley Stein
Fox added 19 points for the Kings with Buddy Hield scoring 14 Cauley Stein pumping in 13 points and grabbing 13 rebounds DeMar DeRozan led the Spurs with 23 points and eight assists while LaMarcus Aldridge scored 14 points and took 18 rebounds Field Level Media |
VZ | Verizon VZ Beats Q1 Earnings Estimate Misses On Revenues | Verizon Communications Inc NYSE VZ is the largest telecom operator in the United States providing high end wireless and wireline services to individuals business enterprises and government agencies VZ is continuously investing in wireless and wireline fiber optic networks as it plans to launch next generation 5G wireless residential broadband services in three to five U S markets in 2018 The first commercial launch is scheduled in Sacramento CA in the second half of 2018 VZ has started conducting field trials for its upcoming 5G wireless network with partners The company is looking at mobile hotspot and home based fixed wireless for initial deployment of the next generation 5G wireless networks in the country in 2018 A full phased 5G wireless network is likely to be offered in 2020 However the company s wireline division is struggling with persistent losses in access lines owing to competitive pressure from voice over Internet protocol service providers and aggressive triple play voice data video offerings by cable companies As the extent of competition is increasing over time investors have been eagerly awaiting for the company s latest earnings report In the last four trailing quarters VZ has reported a negative average earnings surprise of 1 3 missing estimates twice Currently VZ has a Zacks Rank 3 Hold but that could definitely change following first quarter 2018 earnings report which was just released You can see We have highlighted some of the key stats from this just revealed announcement below Earnings VZ beats on earnings VZ reported adjusted earnings of 1 17 per share which exceeded the Zacks Consensus Estimate of 1 11 Verizon Communications Inc Price and EPS Surprise
Revenues Quarterly non GAAP revenues miss estimates VZ recorded non GAAP revenues of 29 9 billion lower than the Zacks Consensus Estimate of 31 157 million Key Stats to Note For full year 2018 VZ expects both GAAP revenues and adjusted earnings per share to increase by low single digit percentage rates driven by expected savings from tax reform Stock Price Share prices were up in pre market trading at the time of writing largely driven by a healthy earnings beat Check back our full write up on this VZ earnings report later Will You Make a Fortune on the Shift to Electric Cars Here s another stock idea to consider Much like petroleum 150 years ago lithium power may soon shake the world creating millionaires and reshaping geo politics Soon electric vehicles EVs may be cheaper than gas guzzlers Some are already reaching 265 miles on a single charge With battery prices plummeting and charging stations set to multiply one company stands out as the 1 stock to buy according to Zacks research It s not the one you think |
VZ | T Mobile TMUS Acquires Sprint To Accelerate 5G Deployment | T Mobile US Inc NYSE T and Sprint Corporation NYSE S recently announced a deal to merge in all stock transaction at a fixed exchange ratio of 0 10256 T Mobile shares for each Sprint share or the equivalent of 9 75 Sprint shares for each T Mobile share based on the closing share price on Apr 27 This represents a total implied enterprise value of approximately 146 billion for the combined company which will be named T Mobile The merger will create thousands of jobs and will likely help the United States to beat China in creating the next generation mobile network In order to get approval for their 26 5 billion agreement T Mobile and Sprint need to convince the Trump administration s antitrust regulators that there is plenty of competition for wireless service beyond Verizon Communications Inc NYSE VZ and AT T Inc NYSE T the top two wireless players The merger would significantly reduce the number of players in the industry to three leading carriers The previous merger talks had ended unsuccessfully in 2014 after the Obama administration expressed antitrust concerns The Federal Communications Commission will decide whether to grant the deal regulatory approval and if it is in public interest The deal would help to accelerate development of faster 5G wireless networks and ensure that the United States does not cede leadership on the technology to China The companies expect the deal to close by the first half of 2019 and result in about 6 billion in annual cost savings The combined company would have about 127 million customers It will have a strong closing balance sheet and a fully funded business plan with a strong foundation of secured investment grade debt at close It will be a force for positive change in the U S wireless video and broadband industries The new T Mobile will have the network capacity to rapidly create a nationwide 5G network with the breadth and depth needed to enable U S firms and entrepreneurs to continue leading in the 5G era The combination of spectrum holdings resulting network scale and expected run rate cost synergies of more than 6 billion which represent a net present value of more than 43 billion will supercharge T Mobile s Un carrier strategy to disrupt the marketplace and lay the foundation for U S companies and innovators Over the past three months both T Mobile and Sprint stocks have outperformed the industry Sprint s shares have gained 21 9 while T Mobile shares have lost 0 9 compared with the s decline of 5 4 in the same time frame Both T Mobile and Sprint carry a Zacks Rank 3 Hold You can see The Hottest Tech Mega Trend of AllLast year it generated 8 billion in global revenues By 2020 it s predicted to blast through the roof to 47 billion Famed investor Mark Cuban says it will produce the world s first trillionaires but that should still leave plenty of money for regular investors who make the right trades early |
VZ | Verizon s media head Marni Walden to leave | Reuters Verizon Communications Inc N VZ on Wednesday said Marni Walden executive vice president and president of global media will leave the company in February 2018 Walden the company s top ranking female executive played a big role in Verizon s acquisition of Yahoo NASDAQ AABA and its merger with AOL to create the Oath unit Walden who was seen as a potential successor to Chief Executive Lowell McAdam will move into a strategic adviser role from Dec 31 until her departure She is leaving because she wants to pursue other opportunities This is not related at all to yesterday s news said a company official speaking on condition of anonymity Yahoo said on Tuesday that all 3 billion of its user accounts were hacked in a 2013 data theft tripling its earlier estimate of the size of the largest breach in history Walden most recently spearheaded Verizon s entry into global digital media and telematics the company said Oath CEO Tim Armstrong will report to McAdam after Dec 31 while the telematics organization will report to John Stratton executive vice president and president of Verizon s Global Operations Verizon said
Marni helped build our wireless business starting as a sales representative in a store and grew into an inspirational leader and role model for so many at Verizon McAdam said |
CSCO | Why Cisco Is Overdue for a Reemergence | As the overall market trades near record highs companies like Cisco NASDAQ CSCO seem to lag Cisco stock has risen by just under 250 since the March 2009 lows This does not compare well to the S P 500 which increased by over 375 over the same period Tech giants such as Microsoft NASDAQ MSFT and Apple NASDAQ AAPL have seen more dramatic growth
These lower returns might make investors wonder why they would want to buy Cisco stock However with its latest 5G and software technology Cisco could finally make a long awaited comeback
The rise and fall of Cisco
Cisco stock was a darling of the dot com boom in the late 1990s So dramatic was its surge that it briefly overtook Microsoft as the company with the world s largest market cap in March 2000
However the stock would go on to lose more than 90 of its value by September 2002 The company survived and rebranded itself It even joined the Dow in 2009 Today Cisco stock appears to fit the stereotype of a Dow Jones stock Profit growth remains mired in the single digits Also the one time tech darling that once eschewed dividends now has increased its payout every year since it was introduced in 2011 However Cisco stock still sells for about 40 less than it did at its peak almost 20 years ago
Will it rise again
In a sense Cisco has already risen again This networking company previously known for hardware now derives a significant percentage of its revenue on the software and services side Products such as Silicon One Exablaze and its white box solution should help to drive revenue growth This growth should particularly accelerate with wider 5G adoption As more consumers and businesses utilize artificial intelligence virtual reality the Internet of Things and other technologies Cisco technology will play a significant role in supporting this connectivity
Moreover its financials remain strong Since bottoming out at below 10 per share in 2002 adjusted earnings per share has risen more than sevenfold Despite this growth investors can now buy Cisco at a much lower cost than during the height of the dot com bubble The company which once supported a P E ratio of more than 200 today trades at a more modest multiple of 19 4
Cisco poised for long term gains
Investors should not anticipate Cisco stock returning to a 200 plus P E ratio However with the stock trading below 20 times earnings a 5G led revival could drive multiple expansion
Admittedly for that to happen earnings will have to return to double digit growth rates The company has not seen those levels of increases for several years Profits grew at an average of 7 76 per year during the previous five years For the next five years Wall Street predicts that that average will fall to 6 99 per year Competition from the likes of Juniper Arista Huawei and others will make larger earnings increases more difficult to attain Unless the company can produce more substantial profit growth sustained multiple expansion is unlikely
Still even if profit growth does not come as quickly as expected investors need to take note of the dividend At the current stock price of about 48 per share Cisco stock yields about 2 9 Still given payout hikes of the last eight years another increase will probably happen this year Barring major disruptions annual payout hikes will probably continue for the foreseeable future
Cisco s outlook continues to improve
In the latter part of 2019 Cisco suffered through a rough patch In its August earnings report the company announced that revenue growth would likely come in flat to up just 2 for the upcoming quarter The stock dropped by close to 20 over the summer as concerns about slowing sales weighed on the sector
However conditions have turned out better than some had feared Management predicted revenue growth accurately reporting 2 growth at the upper end of its range in the most recent quarter
Also the trade picture has improved dramatically Since the U S signed the phase one trade agreement with China both countries have a greater degree of uncertainty on trade The Asia Pacific Japan and China APJC region accounted for 15 2 of sales in 2019 China makes up a relatively small percentage of those sales Still with sales in China having fallen 31 in the previous quarter a deal should offer welcome relief With China trade no longer hampering growth both revenues and Cisco stock itself can move higher
Now is the time to buy Cisco
Both 5G and software will help propel Cisco higher Cisco built its reputation as an internet hardware company in the 1990s However in today s market hardware has become a commodity that generates little in profit Cisco pivoted more toward software years ago and with wider 5G adoption coming soon it could finally share in some of the spoils enjoyed by other tech giants
Cisco could face some difficulties The competition will present challenges as the company struggles to return to double digit earnings growth However with the move into 5G and a rising dividend that pays investors to wait Cisco stock could shoot higher as preparation meets opportunity |
WMB | Pliskova pulls out of Czech team for Fed Cup final vs U S | PRAGUE Reuters World number eight Karolina Pliskova has pulled out of the Czech team for next week s Fed Cup final against defending champions the United States due to a calf injury she said on Saturday Pliskova wore tape on her right calf during the WTA finals in Singapore last month and her condition has not improved Already in Singapore there were days when I felt pain even when walking and I felt terrible But I didn t attach much weight to it she said on Twitter I was looking forward to the final very much but after the examination my start is not possible I m really sorry about that Our team is strong enough She will be replaced by debutant Barbora Krejcikova who leads the WTA doubles rankings with her partner Katarina Siniakova World number seven Petra Kvitova will lead the Czech side in Prague next weekend joined by Barbora Strycova Siniakova and Krejcikova The U S have named an unfamiliar looking lineup missing their big names With Serena and Venus Williams NYSE WMB unavailable along with Sloane Stephens and Madison Keys captain Kathy Rinaldi s top ranked player is world number 35 Danielle Collins She will be joined in Prague by 48th ranked Sofia Kenin number 63 Alison Riske and Nicole Melichar the world s 15th ranked doubles player
The U S have dominated the Czechs in Fed Cup play posting a 10 2 record The nations have met twice in the final with Czechoslovakia winning in 1985 and the U S victorious in 1986 |
WMB | Top 25 roundup No 1 Alabama shuts out No 3 LSU in laugher | Sophomore quarterback Tua Tagovailoa passed for 295 yards threw two touchdowns and raced 44 yards for another score and the Alabama defense smothered LSU s offense to power the No 1 Crimson Tide to a 29 0 shutout over the No 3 Tigers on Saturday night at Baton Rouge La Alabama 9 0 6 0 Southeastern Conference held LSU 7 2 4 2 to just 196 yards in total offense With the win the Tide clinched a spot in the SEC title game where they will face Georgia Tagovailoa completed 25 of 42 passes and iced the game with his 44 yard scramble on third down that put the Tide on top 22 0 with 5 14 left in the third quarter The Tide amassed 576 total yards and held a 29 13 edge in first downs Alabama finished off the shutout by intercepting LSU quarterback Joe Burrow in the end zone with 3 35 left No 5 Michigan 42 No 14 Penn State 7 Shea Patterson passed for two touchdowns and rushed for another while the Wolverines defense silenced the Nittany Lions offense until the late going at Ann Arbor Mich Karan Higdon reached the 100 yard rushing mark for the seventh straight game in which he s played gaining 132 yards on 20 carries with a score for the Wolverines 8 1 6 0 Big Ten Michigan the only Big Ten team without a conference loss avenged a 42 13 thumping at Penn State s home field last season dropping the Nittany Lions to 6 3 overall and 3 3 in conference play No 2 Clemson 77 Louisville 16 The unbeaten Tigers continued their impressive run through the Atlantic Coast Conference rolling past the Cardinals in Clemson S C Clemson 9 0 6 0 ACC has won its last four games by a combined score of 240 36 It was the sixth consecutive loss for Louisville 2 7 0 6 Clemson set the tone for the day by scoring twice in its first five plays Travis Etienne scored on a 10 yard run to cap a four play 75 yard drive and fellow running back Tavien Feaster added a 70 yard scoring run on the first play of the Tigers ensuing possession No 4 Notre Dame 31 Northwestern 21 Ian Book completed 22 of 34 passes for 343 yards and two touchdowns as the Fighting Irish held on top the Wildcats at Evanston Ill and remain unbeaten Book and Dexter Williams NYSE WMB each rushed for a score for Notre Dame while Miles Boykin and Michael Young hauled in touchdown passes The Fighting Irish 9 0 have three games to go in their quest for a perfect regular season and a spot in the College Football Playoff Clayton Thorson completed 16 of 29 passes for 141 yards and one touchdown for the Wildcats 5 4 who were trying to beat a ranked opponent for the third time in a row Thorson also rushed for a pair of touchdowns No 6 Georgia 34 No 9 Kentucky 17 The Bulldogs locked up a second straight berth in the SEC Championship Game humbling the upstart Wildcats in Lexington Ky Georgia 8 1 6 1 SEC won the East Division in convincing fashion by dominating one of the nation s top defensive units Kentucky 7 2 5 2 entered the game with the nation s top scoring defense 13 points per game and had surrendered no more than 20 points in any game this season Georgia had 14 at halftime and eclipsed 20 with more than 10 minutes left in the third quarter Georgia used a powerful run game for the win amassing 331 of its 444 yards of offense via the ground D Andre Swift rushed for 156 yards and two touchdowns and Elijah Holyfield added 115 yards and a TD Jake Fromm was 14 of 20 passing for 113 yards and a touchdown No 7 Oklahoma 51 Texas Tech 46 Kyler Murray overcame a rough start to throw for 360 yards and three touchdowns to help the Sooners outlast the Red Raiders at Lubbock Texas Oklahoma 8 1 5 1 Big 12 has won three straight following its three point loss to Texas on Oct 6 Murray also ran for 100 yards and a touchdown and Trey Sermon added 206 yards and three touchdowns on the ground But perhaps the biggest play of the game was made by Oklahoma s defense after Texas Tech 5 4 3 3 pulled within two on a touchdown midway through the fourth quarter On the two point conversion attempt sophomore safety Robert Barnes intercepted Jett Duffey s pass 5 yards deep in the end zone and returned it the other way for a two point conversion for the Sooners giving Oklahoma a 44 40 lead with 6 54 to play No 10 Ohio State 36 Nebraska 31 J K Dobbins ran for three scores and Dwayne Haskins threw two touchdown passes as the Buckeyes rallied in the second half to take down the Cornhuskers in Columbus Ohio Ohio State 8 1 5 1 Big Ten playing for the first time since a 49 20 loss at Purdue on Oct 20 trailed 21 16 at the half before Dobbins had a 3 yard TD run and Parris Campbell a 9 yard touchdown reception both late in the third quarter as the Buckeyes took control With Nebraska 2 7 1 5 trailing by 12 freshman quarterback Adrian Martinez hit JD Spielman on a 17 yard TD to make it 36 31 with 2 57 left in the game But Ohio State picked up two first downs on the ensuing drive running out the clock to preserve the win Missouri 38 No 11 Florida 17 A week after blowing an 11 point halftime lead against Kentucky the Tigers never let up against the Gators getting a rare top 15 win in Gainesville Fla After Missouri 5 4 1 4 SEC took a 21 10 lead into halftime against Florida 6 2 4 3 Tigers quarterback Drew Lock took over in the third quarter with two touchdown passes to extend Missouri s lead to 35 10 In the process he moved past Chris Leak Tim Tebow and Peyton Manning into third place in the all time SEC passing touchdown list with 90 It was Missouri s first road win against a top 15 opponent since beating South Carolina on Sept 27 2014 No 13 West Virginia 42 No 17 Texas 41 Will Grier hit Gary Jennings on a 33 yard scoring pass with 16 seconds to play and then scooted around left end on an all or nothing two point conversion run to lift the Mountaineers to a wild win over the Longhorns at Austin Texas With the score tied at 34 Texas quarterback Sam Ehlinger stepped up to avoid the rush from West Virginia s David Long Jr and hit Devin Duvernay who got behind West Virginia cornerback Josh Norwood in stride for a 48 yard score with 2 34 to play But that left too much time for Grier 28 for 42 346 yards and the Mountaineers who drove 75 yards in seven plays to the 33 yard touchdown pass to Jennings West Virginia 7 1 5 1 remained in first in the Big 12 while Texas 6 3 4 2 is essentially two games behind the Mountaineers Arizona State 38 No 15 Utah 20 Manny Wilkins threw for 285 yards and three touchdowns while Eno Benjamin rushed for 175 yards and two scores to lift the Sun Devils to an upset of the Utes at Tempe Ariz N Keal Harry had nine catches for 161 yards and caught all three touchdown passes as the Sun Devils beat the Utes for the second straight season after gaining 536 yards on the Pac 12 s top defense Arizona State 5 4 3 3 Pac 12 has won two straight following a 1 3 start in Pac 12 play Utah 6 3 4 3 saw its four game winning streak come to an end and its one game lead in the Pac 12 South disappear Purdue 38 No 16 Iowa 36 David Blough threw four touchdown passes three to wide receiver Terry Wright and Spencer Evans kicked the deciding 25 yard field goal with eight seconds left as the Boilermakers took down the Hawkeyes in West Lafayette Ind to keep their Big Ten West hopes alive Purdue 5 4 4 2 in Big Ten amassed 434 yards in total offense in shredding the Iowa defense which entered the game fourth best in FBS in yards allowed at 265 per game The Hawkeyes 6 3 3 3 were also 11th in scoring defense at 16 1 points per game A couple drives after Iowa took its first lead of the game at 36 35 with little more than 10 minutes left in the fourth quarter the Boilermakers took possession with 4 24 left at midfield after a punt of only 31 yards by Iowa s Colten Rastetter Purdue then drove 11 plays to set up Evans only field goal of the game No 18 Mississippi State 45 Louisiana Tech 3 Nick Fitzgerald threw four touchdown passes as Mississippi State routed visiting Louisiana Tech in a nonconference matchup of Bulldogs at Starkville Miss Fitzgerald a senior known more for his running than his passing completed 17 of 28 for 243 yards and connected with Stephen Guidry Deddrick Thomas Kylin Hill and Jesse Jackson for first half touchdown passes as the host Bulldogs rolled to a 31 3 halftime lead Mississippi State 6 3 won for the third time in four games since a two game losing streak temporarily knocked it out of the Top 25 The Bulldogs return to SEC action when they play No 1 Alabama at Tuscaloosa Ala next week Louisiana Tech which had won its last three games fell to 6 3 No 19 Syracuse 41 Wake Forest 24 Quarterback Eric Dungey rushed for 119 yards and a touchdown as the Orange ran through and over the Demon Deacons at Winston Salem N C Playing in its first game as a nationally ranked program in 17 years Syracuse 7 2 4 2 Atlantic Coast Conference scored five rushing touchdowns to spoil homecoming for Wake Forest 4 5 1 4 Jarveon Howard scored on two runs helping overcome an early 10 point deficit Dungey a senior matched his career high with 24 rushing attempts as Syracuse had a total of 264 rushing yards He also threw for 157 yards completing 23 of 35 throws Auburn 28 No 20 Texas A M 24 Jarrett Stidham threw an 11 yard touchdown pass to Seth Williams with 1 41 to play to complete a dramatic comeback as the Tigers stunned the Aggies at Auburn Ala Texas A M 5 4 3 3 SEC led 24 14 after three quarters but squandered an opportunity to increase the margin when Seth Small missed a 37 yard field goal early in the fourth quarter An interception led to Chandler Cox s 1 yard scoring run with 5 14 to play and after Auburn 6 3 3 3 forced a punt Stidham delivered the win The Tigers are now 8 0 following an open date under coach Gus Malzahn No 21 North Carolina State 47 Florida State 28 Freshman running back Ricky Person scored three touchdowns as the Wolfpack bounced back from back to back losses to throttle the Seminoles at Raleigh N C Person who missed the previous game because of an injury rushed for two touchdowns and scored another on a reception as NC State 6 2 3 2 ACC became bowl eligible James Blackman played in place of injured Florida State quarterback Deondre Francois and threw for four touchdowns and 421 yards But the Seminoles 4 5 2 5 were hindered by 16 penalties costing them 121 yards No 22 Boston College 31 Virginia Tech 21 Travis Levy scored two touchdowns and enjoyed the most productive game of his career as the soaring Eagles dominated the second half to top the Hokies in Blacksburg Va Levy rushed 11 times for a career best 75 yards and the sophomore running back scored his first two career rushing touchdowns Trailing 14 7 midway through the third quarter Boston College 7 2 4 1 ACC scored three straight touchdowns before a Colton Lichtenberg 28 yard field goal sealed the win with 2 31 to play The Eagles won their third straight after entering the College Football Playoff rankings for the first time They are 1 1 2 games behind No 2 Clemson in the Coastal Division and the Eagles host the Tigers next week Virginia Tech 4 4 3 2 lost for the third time in four games No 24 Iowa State 27 Kansas 3 Freshman quarterback Brock Purdy passed for 263 yards and three touchdowns including two scoring bombs to junior wide receiver Hakeem Butler as the Cyclones thumped the Jayhawks in Lawrence Kan Butler entered the game as the Big 12 leader in average yards per catch 22 4 and immediately busted two big plays scoring on grabs of 83 and 51 yards in the first eight minutes He finished with 164 yards on five receptions The win was the fourth straight for the Cyclones 5 3 4 2 Big 12 Kansas 3 6 1 5 was bidding for back to back Big 12 wins for the first time since 2008 but could not gain any rhythm offensively against an Iowa State defense ranked 10th nationally at stopping the run |
WMB | Israel sees desalination as Sea of Galilee s savior | By Dan Williams NYSE WMB DEGANIA DAM Israel Reuters Some 2 000 years ago Jesus walked across the Sea of Galilee according to the Bible Today that doesn t require a miracle Long periods of drought and over pumping have brought the lake low A reedy island has materialized at its southern edge and will soon be a peninsula Holiday makers and fishermen teeter over expanding boggy beaches to reach the waterline The depletion imperils Israel s biggest reservoir starving the River Jordan and Dead Sea It also diminishes a landmark that rivals Jerusalem as a major draw for Christian pilgrims Israel sees a solution in desalination in which it is a world leader It plans to double the amount of Mediterranean seawater it processes and pipe half of it 75 kilometers 47 miles to the Galilee We are doing this in order to save our nature to fight global warming to prevent the effect the devastating effect of global warming on the Sea of Galilee and also to create a very significant water storage for the State of Israel Energy Minister Yuval Steinitz who holds the cabinet water portfolio told Reuters Noting the lake s significance to Christians given the Gospel accounts of Jesus miracle working there Steinitz joked If he is coming back we will make sure that he will have to make a real effort to walk on the water once more Environmentalists welcome the move Last full in 2004 the Galilee has dropped six meters 18 feet It may be just weeks away from hitting a black line 214 87 meters below global sea level where it risk permanent contamination and pressure change from sediment Israelis hope winter rains will hold that off until the first desalinated water is piped in next year PRESSURE Preserving the lake would free Israel to offer Jordan more water under a 1994 peace treaty If there is irreversible damage done to the Sea of Galilee to the Jordan to this whole ecosystem Israel s enemies could use it against her said David Parsons vice president of the International Christian Embassy in Jerusalem which oversees evangelical outreach to Israel It could also affect Christian tourism to the land It s very good to see Israel taking responsible steps now to address this finally Israel s plan provides for piping in 120 million cubic meters annually Steinitz hopes to see that almost tripled in a cabinet vote next month Such capacity he said would replenish the Galilee by 2026 He predicted a small bump to consumers water tariffs to help defray the 622 million infrastructure cost Still with a national election due in 2019 and an unusually wet winter looming some worry the Galilee could be again neglected The vulnerability of this program is that the Water Authority has to continue to commit to maximizing desalination production said Gidon Bromberg Israel director for the environmental group EcoPeace Friends of the Earth Middle East And that is a commitment that could change every year The authority s director Giora Shaham sounded reassuring We need this water not only for us but also for the Jordanians because they are in very very tough conditions now from the water problem point of view he said
The story restores missing word in 10th paragraph |
WMB | FLM ALL 32 Team by team NFL notes | AFC EAST Buffalo Bills Bills fans know their quarterback situation is bad Maybe they didn t know it was quite this bad though The Bills offense ranks last in the league in scoring at 10 7 points per game and their three quarterbacks are the worst in the league too This season 44 quarterbacks have thrown at least 10 passes to receive a passer rating In 44th place is current starter Nathan Peterman at 30 7 Injured quarterbacks Derek Anderson 56 0 and Josh Allen 61 8 are 43rd and 42nd respectively Throw out No 1 on the list that s Nick Mullens who has started one game for San Francisco and the top passer is Drew Brees at 120 6 Peterman threw three more interceptions in a 41 9 loss to Chicago on Sunday giving him 12 in eight career games but his coach said he still thinks Peterman is an NFL caliber quarterback I believe he is Sean McDermott said Miami Dolphins Coach Adam Gase told reporters Monday that there s been no change to the status of quarterback Ryan Tannehill who has a capsule injury in his throwing shoulder and has missed four games The Dolphins will start Brock Osweiler this weekend against Green Bay then the Dolphins have a bye in Week 11 I think we re just trying to get to the point where he feels good throwing and then we ll go from there Gase said It ll be interesting to see what happens the next few days and then when we make a decision whatever it is what s the bye week do for us Those type of things Gase said he will talk to the team trainer to assess Tannehill s progress and decide if they re better off waiting until after the bye week to test his arm again Osweiler is 2 2 in place of Tannehill New England Patriots Add another superlative to quarterback Tom Brady s career He reached a milestone Sunday night in the team s 31 17 defeat of the Green Bay Packers when he became the first NFL player to gain 80 000 total yards That s a combination of passing rushing and receiving in both the regular season and postseason He gained the record in the fourth quarter on a 17 yard pass to Phillip Dorset In doing so he passed Peyton Manning 79 978 on the total yards list Brady 41 now has 80 062 yards in his career New York Jets To a couple of players the Jets 3 6 have hit rock bottom After a 13 6 loss to the Dolphins on Sunday their third in a row Jamal Adams and Robby Anderson released their frustration in the locker room We got to find an answer wide receiver Anderson said It s got to change It s my third year I understand the emphasis on restructuring rebuild but I think everyone is tired of that I think that s an excuse We got to challenge ourselves and improve and make it happen Adams a second year safety agreed I m sick of losing he said Honestly I m sick of losing I m fed up with losing It pisses me off every time I m not a loser I want to get back on the winning track We ve lost three straight Come on man AFC NORTH Baltimore Ravens The numbers don t lie when it comes to putting rookie quarterback Lamar Jackson on the field Head coach John Harbaugh said as much Sunday and repeated at his Monday press conference that the Ravens are turning their gears to attempt to find ways to use Jackson I would like to find more of it Harbaugh said adding the Ravens running game has been far better with the 2016 Heisman Trophy winner on the field I would like to see him out there more and find ways to get him on the field more if we can Jackson played 13 snaps and was wide open for a touchdown pass but quarterback Joe Flacco didn t see him Harbaugh said he s confident Jackson will be a starting quarterback but now is not the time Cincinnati Bengals A J Green jammed his toe on the turf on a fourth quarter catch in the Week 8 game against the Buccaneers that set up a game winning field goal After the bye Green continued to experience inflammation and he consulted a specialist before deciding to rest the injury While head coach Marvin Lewis did not rule out Green for Sunday s game against the Saints ESPN reported Green could miss two or more games He sat for three games and part of a fourth with a similar injury in 2014 A J will continue to do what A J does and bust his tail to get back out there as soon as he can Lewis said Cleveland Browns Rookie cornerback Denzel Ward left Sunday s loss to the Kansas City Chiefs with a hip injury and might not be back when the Falcons visit this week Interim head coach Gregg Williams NYSE WMB who had an active role in the team selecting Ward as the No 4 overall pick in the 2018 NFL Draft said the defense would miss him and might not yet understand just how badly We ll see how long he s out People see how good you are when you re not around too Williams said Injuries have hit hard at cornerback E J Gaines and Terrance Mitchell were already out for Cleveland Pittsburgh Steelers There is no disadvantage to playing on Thursday night in the opinion of head coach Mike Tomlin After a win Sunday at Baltimore Tomlin said he returned and stayed in his office to study the Carolina Panthers Players were given the day off to recover unless they needed medical treatment affording coaches a day to build the gameplan for the Panthers I really don t care As long as it s a short week for the opponent I don t care Tomlin said of the short week AFC SOUTH Houston Texans Star defensive end J J Watt is tied for third in the NFL with nine sacks during a terrific comeback season Watt played just eight total games the previous two campaigns due to season ending injuries before bouncing back in a big way Very impressed Houston coach Bill O Brien said during a press conference I know he probably doesn t want to talk about it too much but I ve never seen anything like it To come back from what he s been able to come back from some really serious injuries and to be able to play at the level that he s playing at it just says all you need to know about him and how much he cares about the team and how much he wants to help this organization win Indianapolis Colts Running back Marlon Mack didn t participate in practice Monday after the team returned from a bye Mack has been nursing an ankle injury but is coming off back to back big rushing performances 126 yards against the Buffalo Bills on Oct 21 and 132 vs the Oakland Raiders the following week Wednesday will be a telling day per how healthy Mack is as the team prepares for a Sunday game against the Jacksonville Jaguars However Robert Turbin shoulder appears ready to return after missing the past two games Turbin has just four carries all in one game for 10 yards as he missed the first four games while serving a suspension for violating the NFL s policy on performance enhancing substances Jacksonville Jaguars Quarterback Blake Bortles was throwing Monday after having the bye week to rest his aching left shoulder Bortles was injured in the fourth quarter against the Philadelphia Eagles on Oct 28 when he took a hard hit to his non throwing shoulder Jaguars coach Doug Marrone observed Bortles throws and termed them normal Your eyes are just as good as mine Marrone told reporters You guys saw him out there throwing It s early in the week and we ll just see how it goes Your evaluation on how he looks will be the same as mine I just saw he took the normal throws during practice Tennessee Titans The Titans played the Dallas Cowboys on Monday night AFC WEST Denver Broncos Riding a 1 6 stretch following a 2 0 start the Broncos are hitting the bye at the right time The same can t be said about the season ending broken leg suffered by center Matt Paradis Speaking to the media Denver head coach Vance Joseph explained the loss of his center will now put much more on the plate of his quarterback Case Keenum Paradis is like a coach on the field and you can t replace that You won t replace Matt s football IQ or his play but we have to adjust As for his quarterback Joseph said Keenum has to identify the linebackers more and the protection calls and adjustment go through Case most of them go through Case now Kansas City Chiefs There isn t much his team has done wrong through nine games but coach Andy Reid does know one thing his 8 1 Chiefs must improve upon their league high 76 penalties You ve got to keep disciplining yourself whether it s tight hands or whatever it might be Reid said at his news conference But he also acknowledged that quarterback Patrick Mahomes scrambling can make linemen more susceptible to holding calls as defenders peel off blocks to chase Mahomes And Reid said he isn t going to try to teach his linemen to block differently I try to look at the things you can coach guys up on to try to make them better so it doesn t happen again but some of the calls are jump balls Los Angeles Chargers His team is 6 2 and coming off a 25 17 win in Seattle but Chargers head coach Anthony Lynn began his news conference talking about his club s biggest problem kicker Earlier Monday the Chargers cut Caleb Sturgis after he missed his only field goal try and two point after attempts on Sunday We feel like we gave him a fair shot and we stayed with him as long as we could Lynn said of Sturgis It just came down to performance Mike Badgley will replace Sturgis I d like to give Badgley the keys to the car but we ve talked about bringing in another kicker maybe to kickoff The team has used six kickers since the beginning of last season We have to solve this problem Lynn said Oakland Raiders Another day another round of roster moves for the Silver and Black as the team announced the signing of free agent defensive ends Kony Ealy and Jacquies Smith on Monday Two days earlier the club released veteran defensive end Bruce Irvin And of course before the season began Oakland traded disgruntled All Pro pass rusher Khalil Mack to Chicago But don t expect the players to get caught up in who s here and who s not Each week it seems like there s something new we gotta get over a new obstacle a new adverse situation said 12 year veteran Frostee Rucker himself in his first season as a Raider But that s part of pro sports The key to our whole season is about next man up NFC EAST Dallas Cowboys The Cowboys faced the Tennessee Titans on Monday night New York Giants Do the Giants have an interest in recently released quarterback Sam Bradford According to an ESPN report Bradford has history with Giants head coach Pat Shurmur who was his offensive coordinator with both the St Louis Rams and Philadelphia Eagles and Bradford enjoyed his best years while working with Shurmur The Arizona Cardinals released Bradford whom they had signed to a one year 20 million contract over the offseason He lost the job to rookie Josh Rosen in Week 4 of the season For their part the Giants are sticking by struggling Eli Manning for now and have not soured on rookie Kyle Lauletta despite his arrest last week on a number of traffic related charges plus resisting arrest Philadelphia Eagles Wide receiver Golden Tate apparently already got his holiday gift when he was traded from Detroit to the Eagles Monday was his first official day with the Eagles he was traded Tuesday during the team s bye week and reporters lined up to ask him what he thought about the trade His response was simple It was like Christmas Now 30 Tate had 44 catches and 517 yards with three touchdowns for the Lions putting him on pace to surpass 1 000 yards receiving for the fourth time in his career Washington Redskins Head coach Jay Gruden clearly was frustrated with some of the penalties called against his team Sunday in a 38 14 loss to the Atlanta Falcons and he didn t place all the blame on his team The Redskins were flagged 10 times for 147 yards After the game Gruden questioned the legitimacy of some of the flags according to the Washington Post It s impossible You might as well just give them the ball and give them the game I have to check the tape to see what these penalties are all about It s very frustrating We got a couple of token penalties called on the Falcons late I have to look at the tape and if they are legit we have to get them corrected The Falcons were penalized seven times for 50 yards NFC NORTH Chicago Bears Being flexed to Sunday Night Football against the Minnesota Vikings in Week 11 is another sign of progress head coach Matt Nagy refuses to let his team overlook While Nagy said he will never utter the word playoffs until the Bears have earned a spot in the postseason he s asking the team to pay attention to the signs around them That includes being elevated to a showcase NFL game on Nov 18 The goal is to have a lot of those throughout the season That means you re doing well Detroit Lions Matthew Stafford was hit 17 times sacked 10 and his teammates were left embarrassed by the turn of events in Sunday s loss to the Minnesota Vikings Entering Sunday Detroit had allowed the least quarterback pressures in the NFL But after a deluge Detroit can expect teams to turn up the heat in the pocket You have a day like that it s a little bit on everybody obviously Stafford said I ve got to get the ball out faster Got to find checkdowns a little bit faster get the ball out Up next for the Lions is a Sunday date with the Bears at Soldier Field Detroit and Chicago play twice in the next three weeks It comes down to winning your one on one matchups and we got to do a better job of that left tackle Taylor Decker said Green Bay Packers Hiding emotion is not a strength of quarterback Aaron Rodgers who said Sunday night after a loss to the New England Patriots that he let the team down by not getting the ball to his No 1 target Davante Adams in pivotal moments That s what I m most disappointed in myself about is missing him a couple times Rodgers said after targeting Adams nine times in the game Davante is a tough cover and I expect to play great every week I ve got to keep finding ways to get him the ball I ve got to keep moving him around We did a good job tonight of moving him around to No 2 No 3 spots in the formation But I ve got to keep looking his way Minnesota Vikings A preservation plan for running back Dalvin Cook on Sunday was never abandoned but the second year back did test his balky hamstring with a 70 yard run down the left sideline On the play Cook was clearly unbridled reaching an NFL high top speed of more than 22 miles per hour on the breakaway according to NFL advanced statistics He actually said that he was thinking about his hamstring and only kept it in fourth gear head coach Mike Zimmer said Monday Zimmer said both running backs will continue to play with Cook s snap count plan being reduced as he gets healthier Latavius Murray is likely to remain the short yardage back even after Cook is at 100 percent NFC SOUTH Atlanta Falcons The Cleveland Browns are a franchise in disarray They are also Atlanta s next opponent and Falcons coach Dan Quinn is worried What I do know from the little bit of studying that I ve done is the talent Quinn said at a press conference And their ability defensively to create takeaways If I m not mistaken I believe they re the league leader in forcing turnovers They re somewhere in the neighborhood of 23 which is a big number for nine or 10 games That part jumped off the tape for me Quinn was correct about the NFL best takeaway number Cleveland has 13 interceptions and 10 opponents fumbles recovered The Falcons have just eight takeaways Carolina Panthers It is a short week for Carolina with a game looming on Thursday against the Pittsburgh Steelers Making matters more challenging is that the Steelers have won four consecutive games and that the contest is in Pittsburgh It s tougher to do it on the road for sure Carolina running back Christian McCaffrey said of playing games four days apart But our guys don t blink Our guys come to play wherever we are McCaffrey is coming off a solid all around performance Sunday in a win over the Tampa Bay Buccaneers He rushed for 79 yards and two touchdowns on 17 carries and also caught five passes for 78 yards New Orleans Saints The club is flying high after knocking the Los Angeles Rams from the ranks of the undefeated on Sunday The Saints have won seven straight games and are 7 1 at the halfway point of the schedule but coach Sean Payton isn t interested in doing a midseason progress review Nope No halfway report cards or any of that None of that Payton told reporters The point is though and it is a good point there s eight games left In other words there is a ton of football left There are a ton of things we have to improve on and we need to improve on or it is going to hurt us later And I mention one of them right now red zone defense That has to get better Tampa Bay Buccaneers The defense has been a big problem all season and it was again an issue Sunday in a 42 28 loss to the Panthers Tampa Bay fell behind 35 7 in the second quarter en route to allowing 40 or more points for the third time this season The team ranks last in the NFL in scoring defense 34 4 points per game It s very frustrating longtime standout defensive tackle Gerald McCoy told reporters I could go into all the negatives but I m not a negative person so I will speak on the positive The positive is it s only halfway through the season We have a chance to turn this thing around We ve just got to come out and play man We ve got to be more disciplined all of us myself included especially me and we ve just got to tackle better NFC WEST Arizona Cardinals With Arizona coming off a bye week head coach Steve Wilks spent part of his Monday news conference talking about the team s decision to release quarterback Sam Bradford on Saturday When you look at need position wise throughout the year particularly this time with guys getting hurt we did what we though was best for the team Wilks said We needed that position to be able to add quality depth at different positions on the team He then sang the praises of his former starter who was benched for rookie Josh Rosen before Week 4 No 1 I ll say Sam is an ultimate pro the way he handled the situation He did everything he could to help mentor that quarterback room Bradford cleared waivers Monday and is a free agent Los Angeles Rams At 8 1 the Rams are recuperating from a loss for the first time this season ahead of Week 10 when the Seahawks visit Los Angeles Our players continue to fight and battle they don t flinch they don t blink McVay said Can t wait to get back to work McVay said the Rams failed to limit the big plays until making a few critical stops in the second half We came in trying to get the win expecting to get the win McVay said I know that everybody in that locker room is going to respond the right way The motivation the desire to be able to move forward in a positive way is something we challenge everybody in our building to be able to do It s a setback We re going to respond the right way San Francisco 49ers Without a day off since July 18 head coach Kyle Shanahan said he would do his best to not worry about football for a few days following the 34 3 win over the Oakland Raiders last Thursday When the team returns after an off day Tuesday Shanahan is likely to be ready to share his decision at quarterback I don t need to decide yet Shanahan said Friday before the four day respite He doesn t speak to the media again until Thursday because of the off kilter schedule ahead of a Monday Night Football game with the New York Giants However all signs point to Nick Mullens making his second start C J Beathard wrist might not even be healthy enough to be considered I d like the whole team in here too when I decide that Shanahan said
Seattle Seahawks With starting running back Chris Carson s status for Sunday s game in Los Angeles up in the air due to a hip injury rookie first round pick Rashaad Penny could be in line for a heavier workload against a stout Rams front in Week 10 I think he s a little tentative head coach Pete Carroll said of his rookie Monday in a radio interview with 710 ESPN in Seattle I just think he needs more turns and he s going to be OK Penny had only four carries for 11 yards and three receptions for 13 yards on Sunday Carson leads the team in carries 111 and rushing yards 497 and has two rushing touchdowns Field Level Media |
WMB | NBA roundup Murray s 48 lift Nuggets over Celtics | Jamal Murray scored a career high 48 points to outshine Kyrie Irving and the host Denver Nuggets rallied to beat the Boston Celtics 115 107 on Monday night Murray missed a chance to become the first Denver player since Carmelo Anthony to score 50 or more points in a game Anthony did it twice the last time on Feb 7 2011 two weeks before he was traded to the New York Knicks Murray whose previous career high was 38 points led the Nuggets to their fifth consecutive win and their ninth in 10 games to open the season Irving finished with 31 and Jayson Tatum and Jaylen Brown had 15 each for the Celtics who have lost two straight Warriors 117 Grizzlies 101 Stephen Curry and Alfonzo McKinnie connected on 3 pointers in a 14 point Golden State run late in the third quarter that propelled the two time defending champions to a victory over Memphis in Oakland Calif Klay Thompson scored a game high 27 points for the Warriors who won their eighth consecutive contest overall and sixth in a row at home despite losing Draymond Green in the second quarter to a foot injury Kevin Durant had 22 points and Curry finished with 19 Marc Gasol flirted with a triple double for Memphis with eight points and game highs in rebounds 10 and assists nine Dillon Brooks had a team high 18 points while Jaren Jackson Jr and Shelvin Mack scored 15 apiece for the Grizzlies Heat 120 Pistons 115 OT Josh Richardson had 27 points eight rebounds and four assists and visiting Miami snapped a three game losing streak with an overtime win against slumping Detroit Goran Dragic contributed 21 points seven rebounds and six assists for the Heat while Dwyane Wade added 18 points Andre Drummond powered for 25 points and 24 rebounds for Detroit which lost its fifth straight Wade moved into 30th place on the league s all time scoring list during the first half surpassing Clyde Drexler 22 195 points Wade ended the night at 22 211 Thunder 122 Pelicans 116 With star point guard Russell Westbrook out in the second half due to an ankle injury Dennis Schroder scored nine consecutive Oklahoma City points in the fourth quarter in a win over visiting New Orleans Schroder finished with a season high 22 points off the bench 16 in the second half as the Thunder extended their winning streak to five after losing the season s first four games It was New Orleans sixth consecutive loss after a 4 0 start Schroder got his chance for a big finish after Westbrook twisted his left ankle with 4 25 remaining in the third quarter Westbrook rolled over and grabbed his left leg before slapping the floor in pain and frustration Soon afterward he went to the locker room not putting any weight on the leg Bulls 116 Knicks 115 2OT Zach LaVine s career high 41st point a free throw with 0 2 seconds left in the second overtime snapped a tie and lifted visiting Chicago over New York The Bulls snapped a four game losing streak The Knicks lost for the third time in four games Antonio Blakeney had 17 points and Jabari Parker added 15 points for the Bulls who received a double double from Wendell Carter Jr 11 points 13 rebounds Knicks reserve Enes Kanter had 23 points 24 rebounds and seven assists the first sub to produce a game of at least 20 20 5 since Charles Barkley on Nov 28 1986 Raptors 124 Jazz 111 Kyle Lowry scored 17 points dished out 11 assists and collected seven rebounds to lead Toronto past Utah in Salt Lake City Three other Raptors players also scored 17 points led by Serge Ibaka who came off the bench to make all eight of his shot attempts before fouling out early in the fourth quarter Alec Burks led Utah with 22 points off the bench in his first game back after missing four games with a left hand chip fracture Utah played without Donovan Mitchell sprained ankle for the second time in three games Toronto played without Kawhi Leonard jammed foot for the second consecutive game Rockets 98 Pacers 94 James Harden scored 28 points but his lone block helped Houston secure its third consecutive win beating Indiana at Indianapolis Pacers guard Victor Oladipo scored eight points down the stretch but Harden blocked an Oladipo shot with 28 8 seconds left and the Rockets leading 93 90 Harden later sealed the victory with two free throws with 5 4 seconds remaining Harden and P J Tucker nine points five rebounds two steals each hit a late 3 pointer to offset the surge by Oladipo who led Indiana with 28 points Domantas Sabonis added 17 off the bench for the Pacers Magic 102 Cavaliers 100 Evan Fournier nailed a tiebreaking jump shot at the buzzer to give host Orlando an improbable home win after Cleveland turned the ball over twice in the final 20 seconds The Cavaliers had a three point lead with 18 7 seconds left possession of the ball and the shot clock turned off but Cedi Osman s bad pass was intercepted by D J Augustin who was fouled and made both free throws Two seconds later Kyle Korver turned the ball over and Fournier made one of two free throws to tie the score after he was fouled at the basket with 13 seconds to go Nikola Vucevic blocked a shot by Cleveland s George Hill with 2 2 seconds left setting up Fournier s winner Clippers 120 Timberwolves 109 Tobias Harris and Danilo Gallinari scored 22 points each and Lou Williams NYSE WMB added 20 off the bench as Los Angeles held off a late run from visiting Minnesota Derrick Rose scored 21 points for Minnesota in his second start of the season In his first start last week against the Utah Jazz the former MVP had a career high 50 points Karl Anthony Towns scored 20 points for the Timberwolves but just seven after the first quarter However he grabbed a game high 12 rebounds
Minnesota s Jimmy Butler also had 20 points 16 of which came in the fourth quarter Field Level Media |
WMB | American Melichar relishes making Fed Cup debut against country of birth | PRAGUE Reuters American Nicole Melichar expects to have mixed feelings when she makes her Fed Cup debut in this weekend s final against the Czech Republic the country of her birth Melichar is one of three Americans playing in their first Fed Cup tie for the defending champions who are having to field a second string team with Serena and Venus Williams NYSE WMB unavailable along with Sloane Stephens and Madison Keys Born in Brno but raised in the United States Melichar said it was a special feeling to face the country her parents hailed from I am very proud to be representing the USA Melichar said as she prepared to face the Czechs who have won the team competition five times since 2011 It is an honor to actually play against the country that I am originally from but to play for the country that I feel that I am from It is a little bit of a mix but it is I think the most special way to start my Fed Cup career Ranked 15th in the world in doubles Melichar won titles in Tianjin and Prague this year with Czech partner Kveta Peschke They also finished runner up at Wimbledon losing to Czech duo Barbora Krejcikova and Katerina Siniakova both of whom will feature for the hosts this weekend along with Petra Kvitova Melichar said her Czech background was another source of fun for the team during the final I have tried to teach them a few words here and there and to translate a few things she said
Danielle Collins and Sofia Kenin are the other two Americans making their debut in Prague while Alison Riske has featured in three previous ties |
WMB | CFTC charges former Deutsche Bank trader with fraudulently mismarking swaps | WASHINGTON Reuters The U S Commodity Futures Trading Commission filed and settled charges against a former managing director for Deutsche Bank AG DE DBKGn for fraudulently mismarking swap valuations to conceal significant trading losses the CFTC said on Thursday The commissioner s order requires the trader to pay a 350 000 civil penalty and bars him from exchange trading and seeking registration with the CFTC the commission said in a statement Reportint by Makini Brice Editing by Alison Williams NYSE WMB OLUSECON Reuters US Online Report Economy 20181108T171103 0000 |
WMB | NBA roundup Curry exits as Bucks blast Warriors | Eric Bledsoe scored six of his game high 26 points during a second quarter flurry that allowed the Milwaukee Bucks to build a double digit lead en route to a shockingly easy 134 111 victory over the Golden State Warriors on Thursday in Oakland Calif Giannis Antetokounmpo had 24 points and Malcolm Brogdon 20 for the Bucks who had lost two of three after a 7 0 start Klay Thompson led Golden State with 24 points on a night when backcourt mate Stephen Curry missed all four of his 3 point attempts and was held to 10 points Curry exited for good in the third quarter due to a left adductor strain and he will undergo an MRI exam Friday The loss snapped Golden State s eight game winning streak and was the Warriors first at home this season in seven outings Celtics 116 Suns 109 OT Kyrie Irving recorded a season high 39 points and also had seven rebounds and six assists to help Boston rally for an overtime victory at Phoenix Marcus Morris added 17 points and drained the tying 3 point basket with 1 1 seconds left in regulation as Boston recovered from a 22 point third quarter deficit Jaylen Brown connected on the go ahead 3 pointer in overtime to cap a 17 point effort and Terry Rozier added 10 points Devin Booker scored a season high 38 points and added nine assists and TJ Warren scored a season high 29 points for Phoenix which has dropped nine of its 11 games this season Thunder 98 Rockets 80 Paul George had 20 points and 11 rebounds as Oklahoma City won its seventh consecutive game beating visiting Houston The loss snapped a three game winning streak by the Rockets who were led by James Harden s 19 points However Harden shot just 7 of 19 from the floor and 4 of 12 from behind the 3 point arc Houston s 80 point scoring effort was the lowest for an NBA team this season Steven Adams added 19 points and 10 rebounds for the Thunder while Terrance Ferguson hit four 3 pointers en route to 14 points Trail Blazers 116 Clippers 105 Damian Lillard and CJ McCollum combined for 48 points as Portland downed visiting Los Angeles Lillard scored 25 points and McCollum added 23 as the Trail Blazers earned their third consecutive win and their sixth in the past seven outings Jusuf Nurkic contributed 16 points and nine rebounds
Danilo Gallinari and Lou Williams NYSE WMB each scored 20 points for the Clippers Montrezl Harrell and Shai Gilgeous Alexander both chipped in 19 points and Tobias Harris had 15 points and 11 rebounds for the losers Field Level Media |
WMB | Fed officials point to vulnerabilities behind hot U S labor market | NEW YORK Reuters Vulnerabilities linger behind the hot U S labor market in which some communities remain underemployed and lack the skills and training that would protect them as the economy modernizes two Federal Reserve policymakers said on Friday The comments underscore why the U S central bank is only gradually raising interest rates even while unemployment is the lowest since the 1960s They also highlight the Fed s narrow ability limited mainly to public speeches to encourage lawmakers and employers to adopt policies that might boost productivity and economic growth There is a diversity of experience and economic opportunity throughout our country said New York Fed President John Williams NYSE WMB The skills gap and the uneven economic recovery among different communities are consistent themes that I hear and see in my travels While unemployment is low at 3 7 percent joblessness for blacks is about twice that of whites while a broader measure of underemployment is 7 4 percent The jobs of women non whites and lower income workers are typically more vulnerable to being lost to automation making training and education more vital Business has to start viewing workforce development as an investment rather than a social service said Philadelphia Fed President Patrick Harker speaking alongside Williams at a workforce conference at the central bank s New York headquarters
The Fed on Thursday left rates unchanged at just over 2 percent though in a statement it paved the way to more monetary tightening next month and into next year |
WMB | Tennis Czech Kvitova to miss first day of Fed Cup final | PRAGUE Reuters World number seven Petra Kvitova will miss the opening day s action of her Czech team s Fed Cup final against the United States in Prague due to sickness Barbora Strycova of the Czech Republic will take on Sofia Kenin in the opening match followed by Katerina Siniakova against American Alison Riske in the second rubber of the opening day on Saturday according to the draw made on Friday Twice Wimbledon champion Kvitova whose training has been limited this week due to a high temperature could still play on Sunday The Czech team was heavily favored going into the final with the defending champions U S fielding a squad without Serena and Venus Williams NYSE WMB Sloane Stephens and Madison Keys Yet Czech world number eight Karolina Pliskova has already pulled out with a calf injury and it is now uncertain whether Kvitova will be appear for a Czech team looking to capture its sixth Fed Cup title since 2011 After announcing the original nominations we felt that we were big favorites but now it is far more even It will be an interesting match Czech captain Petr Pala said after training according to the CTK news agency The final this year features the two most successful teams in the tournament s history with the U S lifting the trophy 18 times The Czech squad has won 10 times including five times as Czechoslovakia The U S have dominated the Czechs in Fed Cup play and hold a 10 2 record against their final opponents The nations have met twice in the final with Czechoslovakia winning in 1985 and the U S winning in 1986 The U S have three players Danielle Collins Kenin and Nicole Melichar making their Fed Cup debut |
VZ | Sprint Gains On Renewed Talks With T Mobile IPhone Offer | Per Reuters Sprint Corporation NYSE S has resumed talks to merge with T Mobile US Inc NYSE T marking the latest effort to bring the United States fourth and third largest wireless carriers together Their previous round of negotiations ended in November 2017 over valuation disagreements Upon successful completion of the deal the combined company would have more than 127 million customers and could create more formidable competition for Verizon Communications Inc NYSE VZ and AT T Inc NYSE T being the number one and number two players in the wireless industry respectively amid a race to expand 5G offerings Sprint is struggling with a long term debt of more than 32 billion The company s majority owner SoftBank Group Corp a Japanese conglomerate holding company is looking to trim the debt which reached 147 billion as at the end of December 2017 It is also planning to raise cash by taking its Japanese mobile phone unit public this year Sprint and T Mobile decided to resume talks partly because they want to share the financial burden of investing in their networks The negotiations are however at an early stage In a separate development Sprint announced that it will offer iPhone 8 and iPhone 8 Plus RED Special Edition The new iPhones which come with a stunning red finish has a beautiful red colored glass enclosure with a matching aluminum band and a sleek black front Both phones belong to a new generation of iPhone with glass and aluminum design made of the most durable glass ever in a smartphone The HD Retina display and A11 Bionic chip have been designed for an immersive augmented reality experience The iPhone 8 Plus has dual 12 megapixel cameras and introduces Portrait mode with Portrait Lighting bringing dramatic studio lighting effects Such features allow customers to capture stunning portraits with a shallow depth of field effect in five different lighting styles Sprint has come up with a limited time offer for the new and existing customers to lease an iPhone 8 or iPhone 8 Plus and get an iPhone 8 64GB lease on the company Moving ahead Sprint is making a major multi year investment to dramatically improve its network coverage reliability and speed for customers It is preparing for the launch of its 5G mobile network in the United States in the first half of 2019 The company s Next Gen Network build includes upgrading virtually all cell sites to triband service using 800MHz 1 9GHz and 2 5GHz Thousands of new cell sites are likely to expand coverage while more small cells will densify the network Game changer Massive MIMO technology a bridge to 5G the next generation of wireless technology can increase the current LTE systems capacity up to 10 times for faster data speeds to more customers With such happenings underway Sprint s share price witnessed an increase of 17 1 and eventually closed at 6 02 on Apr 10 giving the company a market capitalization of 24 1 billion Over the last three months the stock has outperformed the with an average return of 5 8 against 3 2 decline for the latter Sprint carries a Zacks Rank 3 Hold You can see 5 Medical Stocks to Buy NowZacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia AIDS muscular dystrophy hemophilia and other conditions New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline Early investors could realize exceptional profits |
VZ | FCC finds effective competition in U S wireless market | By David Shepardson WASHINGTON Reuters A divided Federal Communications Commission on Tuesday approved a report that found for the first time since 2009 there is effective competition in the wireless market a finding that could help Sprint Corp and T Mobile US Inc to merge Reuters reported last week that the wireless carriers are close to agreeing on tentative terms on a deal to merge a major breakthrough in efforts to merge the third and fourth largest U S wireless carriers The transaction would significantly consolidate the U S telecommunications market and represent the first transformative U S merger with significant antitrust risk since President Donald Trump s inauguration FCC Chairman Ajit Pai said most reasonable people see a fiercely competitive marketplace citing intense price competition carriers This is strong incontrovertible evidence he added The FCC approved the report by a 3 2 vote A decade ago there were seven major U S wireless carriers and today the largest four carriers led by Verizon Communications Inc NYSE VZ and AT T Inc NYSE T control 98 8 percent of the U S market according to the FCC The FCC would need to approve any merger as would the Justice Department In 2014 the FCC and Justice Department told the carriers they would not back a merger and the companies abandoned merger talks FCC Commissioner Jessica Rosenworcel referenced the potential looming merger While this report celebrates the presence of four nationwide wireless providers let s be mindful that a transaction may soon be announced that seeks to combine two of these four Rosenworcel said For my part any transaction before us will require someone to explain how consumers will benefit how prices will not rise and how innovation will not dissipate in the face of so much more industry concentration She added Someone will also need to explain how having fewer potential big bidders in upcoming spectrum auctions will not render our most potent distribution mechanism substantially less powerful FCC Commissioner Mignon Clyburn said the competition report takes a decidedly myopic view of the ecosystem and instead focuses only on competition in the provision of mobile wireless services This is like a doctor looking at one organ and pronouncing a patient fit as a fiddle FCC Republican Commissioner Mike O Rielly praised the report and noted intense wireless competition has led to price cuts despite carriers investing 200 billion in networks over the last six years
AT T said in a statement the report shows with an array of providers pricing plans and service offerings to choose from there s no question that consumers are reaping the benefits of a competitive industry |
CSCO | Cisco Systems cut to Neutral at BAML on lack of catalysts | Cisco Systems CSCO 1 slips to its lowest level so far this year after BofA Merrill Lynch downgrades shares to Neutral from Buy with a 52 price target trimmed from 56 citing a lack of expected catalysts in 2020
We see several headwinds that could continue to weigh on upcoming results BAML s Tal Liani writes Challenges include 2 3 quarters of difficult comparisons slower potential growth for campus switching secular pressure on routing and reduced share repurchase activity
Key risks according to Liani include the Catalyst 9K campus switching cycle plateauing ASC 606 and M A tailwinds in FY 2019 hurting comps and exceptional performance in Security and Applications potentially decelerating
CSCO s average Sell Side Rating and Seeking Alpha Authors Rating are both Bullish while its Quant Rating is Neutral |
CSCO | Better Buy Arista Networks vs Cisco | According to Cisco Systems NASDAQ CSCO global network traffic is poised to grow 26 annually by 2022 Beyond their short term challenges both highly profitable network vendors Cisco and Arista Networks NYSE ANET should benefit from this tailwind But should investors prefer Cisco s dominant position over Arista s stronger revenue growth Let s take a closer look and see which is the better buy
Cisco the historical dominant network vendor
Cisco founded in 1984 initially sold routers which are devices that forward network traffic between networks It then expanded its portfolio with switches network devices that connect computers and servers into the same physical network following its acquisition of Crescendo in 1993 And after many other acquisitions Cisco now offers computer based solutions that span over a large spectrum of networking areas including security and communications
As a result Cisco became a dominating network vendor Synergy Research Group estimates Cisco s revenue from its routers and switches represented 51 of the market during the last quarter of 2018
The company s revenue increased from 46 1 billion in fiscal 2012 to 52 0 billion over the last 12 months It also generated a solid operating margin of 27 8 thanks to its research and development and sales and marketing costs that are spread over its large revenue base
However Cisco struggled to adapt its legacy portfolio to the disruptive cloud computing technology In contrast with Cisco s proprietary and monolithic solutions cloud titans such as Amazon with Amazon Web Services and Microsoft with Azure utilize flexible cost efficient and high speed solutions to run and grow their huge data centers Therefore Cisco s share in the high speed data center switching market dropped from 78 1 in 2018 to 46 6 during the first half of 2019 according to Crehan Research
But Cisco made a U turn to address its challenges in the cloud network data center area Last month it announced a new network operating system IOS XR7 and a silicon architecture Silicon One that cloud titans and third parties can use to build their own network devices
Thus despite its expected next quarter revenue decline in a range of 3 to 5 because of a weak macro economic environment according to management Cisco should profit from the increase in global networking traffic over the long term
Arista the fast growing challenger
Arista filled the gap Cisco left with its lack of suitable networking solutions for cloud titans As a result Arista grew its revenue from 193 4 million in 2012 to 2 45 billion over the last 12 months And during the last quarter its revenue increased by 16 2 compared to last year
Logically its share in the high speed data center switching market increased from 3 5 in 2012 to 18 8 during the first half of 2019 As the company serves huge cloud providers which demands fewer sales and marketing efforts compared to acquiring many small customers its sales and marketing expenses dropped below 10 of revenue since the second half of 2017 In contrast many growth tech companies spend about half of their revenue as sales and marketing expenses
Thus Arista s operating margin of 33 7 over the last 12 months remains impressive in the context of its high revenue growth
But Arista also has its challenges With its concentrated huge customers Microsoft and Facebook should each represent more than 10 of Arista s revenue in 2019 the company is exposed to the volatility of their expenses For instance during the last quarter Arista communicated disastrous guidance that forecasts its next quarter revenue to decline by 8 year over year Management justified this disappointing outlook because of the shift in the procurement strategy of one single customer
Beyond this short term difficulty Arista s dependence on a few customers should diminish The company started expanding its portfolio in 2018 with its entry into the campus market smaller corporate networks but this decision will also intensify the competition with other network vendors such as Cisco and Juniper Networks
Cisco is a better buy for prudent investors
Besides their short term challenges both tech stocks should profit from the increase in global traffic over the next several years Thanks to its smaller scale and its greater exposure to the cloud network data center market Arista should keep on growing at a faster pace than Cisco
Arista s higher price to sales ratio of 6 5 and forward P E ratio of 22 9 compared to Cisco s respective ratios of 3 86 and 13 98 reflect this expectation
But given Cisco s solid dominant position and its capacity to adapt with some delay to cloud computing its modest valuation seems a better choice for prudent investors Arista s potential remains important but the company depends on solid execution to keep on delivering strong growth over the long term and justify its higher valuation |
WMB | Boost VC Just Fulfilled a Crypto Funding Pledge 4 Years in the Making | Boost VC has officially backed crypto startup number 100
With the news confirmed Tuesday by CoinDesk the San Mateo incubator has finally fulfilled a funding pledge made all the way back in March 2014 when co founders Adam Draper and Brayton Williams NYSE WMB boldly declared they would invest in 100 bitcoin startups over the next three years
Though it may have taken a bit longer than planned the milestone is perhaps a testament to the pre seed fund which has maintained a major emphasis on crypto since its earliest days riding the twists and turns of an industry that has changed greatly in just a few short years |
WMB | Traitors or Russian agents Clergy caught in Ukraine church row | By Matthias Williams NYSE WMB and Pavel Polityuk KIEV Reuters Priests like Metropolitan Oleksandr face a choice join Ukraine s new independent church and be labeled a renegade by supporters of his own church or stay away and risk being branded a Russian agent It is a decision facing thousands of clerics as Ukraine prepares to sever ties to the Russian Orthodox Church going back to 1686 For the Ukrainian authorities it is an essential step to tackling Russia s malign influence on its soil four years after Russia annexed Crimea and backed separatists in a conflict that has killed more than 10 000 people It may also help President Petro Poroshenko who championed the split shore up support in a tight election race next year But the move is opposed by the Kremlin and the Russian Orthodox Church which compared it to the Great Schism of 1054 that split western and eastern Christianity Metropolitan Oleksandr a member of the traditionally dominant Ukrainian Orthodox Church Moscow Patriarchate wants to join the new church because of what he calls its poisonous association with the Russian state We love Russians we love Russia but we don t love those who have unleashed a war on the part of Russia and who are feeding it today he said in an interview He echoes critics who call his church a tool used by Moscow to justify Russian expansionism and support the separatists Oleksandr compares setting up the new church to removing a diseased body part by surgery The surgical method is painful but it must be done in the end in order for the body to begin to recover the 41 year old said His stance comes at a price The Moscow Patriarchate has labeled those wanting to join the new church as schismatics A high ranking official Metropolitan Antoniy said joining the new church would be a betrayal In May the Moscow Patriarchate censured Oleksandr for obscene behavior and told him to stop making public statements that could lead his followers into temptation Separately a video watched more than 100 000 times on YouTube called him a traitor and portrayed him as corrupt soft on gay rights and involved in the abduction of two nuns Oleksandr who regularly puts up photos and videos of his services on Facebook NASDAQ FB reposted the video to his 12 000 followers to show what his opponents were up to POLITICAL GAME Ukraine in October secured approval to set up an independent church from the Ecumenical Patriarch in Istanbul the global spiritual leader of Orthodox Christians The next step is for Ukraine s various church strands to meet to decide the make up of the church and who will lead it The Russian Orthodox Church retaliated by breaking off all ties with Istanbul and accused the United States of engineering the split behind the scenes President Vladimir Putin on Wednesday warned of painful consequences Patriarch Kirill of Moscow called the Ecumenical Patriarch Bartholomew s support for an independent Ukrainian church shameless He said Orthodox unity could be preserved only through the resistance of our people our clergy our episcopate to every mean trick to every heresy to every schism Ukraine and Russia trace their Orthodox Christian roots to Volodymyr the Great the prince whose baptism in 988 in Kiev led to the christianization of the region known as the Kievan Rus The Moscow Patriarchate which is aligned with the Russian Orthodox Church earlier dominated in Ukraine but has been challenged by a rival known as the Kiev Patriarchate formed after the 1991 break up of the Russian dominated Soviet Union Support for the Kiev Patriarchate swelled after the annexation of Crimea It supports church independence and Ukraine s closer integration with the West Oleksandr estimates between 40 70 percent of Moscow Patriarchate churches will join the new church though his parishioners have mixed views Some support it while others like Anna Trofimova oppose it as a political game Archbishop Kliment spokesman for the Ukrainian Orthodox Church Moscow Patriarchate said in an interview that only a tiny fraction of his church s believers wanted to switch across Asked about the attacks on Oleksandr Kliment said his church was itself the victim of a smear campaign As an example he cited Foreign Minister Pavlo Klimkin s statement that his church had no place in Ukraine and suggested it root out Russian agents in its ranks Kliment said support for independence had not risen but the authorities were pushing for it because in six months there will be presidential elections |
WMB | Redskins prep for pass happy Falcons | The Washington Redskins look for their fourth straight win Sunday when they host the Atlanta Falcons The Redskins sit atop the NFC East and are 5 2 for the first time since 2008 when Jim Zorn s team started fast but finished 8 8 and out of the playoffs Atlanta started 1 4 and appeared to be sinking due to injuries but won two straight before their bye week Sunday s matchup pits Atlanta s explosive offense generating 401 yards per game against Washington s second ranked NFC defense allowing 322 4 yards The Washington defense got stronger on Tuesday with the acquisition of safety Ha Ha Clinton Dix from the Green Bay Packers Clinton Dix has 27 tackles three interceptions and one forced fumble this season My leadership my hustle to the ball my effort Clinton Dix said of what he brings to the Redskins Being able to go get the ball create turnovers and take this team to another level man and keep things going The Redskins are allowing 242 3 yards per game 13th in the NFL Paring Clinton Dix with D J Swearinger gives Washington a formidable starting safety duo Atlanta will likely attack via the pass Ryan has thrown 15 touchdown passes and two interceptions and wide receiver Julio Jones is second in the NFL with 812 yards on 53 catches for the league s fourth ranked passing attack 317 7 yards per game Rookie Calvin Ridley has 27 catches for 392 yards I think at the end of it both teams are playing true to their style Falcons coach Dan Quinn told the team s website When I say both teams are true to their style that s why it s a pretty cool matchup Meanwhile the Redskins are allowing only 80 yards rushing per game and the Falcons are generating just 83 3 per contest That doesn t mean the Falcons won t try to run it We re going to run the ball knowing that s an important part of what we do as well Quinn said They just happen to be one of the very best a defending it That doesn t mean that we don t go down that road On offense the Redskins boast a rejuvenated running attack thanks to a rejuvenated Adrian Peterson The 33 year old took NFC Offensive Player of the Week honors after gaining 149 yards against the Giants The Falcons defense is ranked last in the NFC in yards allowed and their run defense is ranked 8th in the NFC giving up 112 7 yards per game Washington continues to look for improvement in the passing game Alex Smith s passer rating and completion percentage are in the bottom half of quarterbacks and he s thrown just eight touchdown passes against two interceptions As long as we are winning games protecting the football that s the most important thing Redskins coach Jay Gruden said Our offense will be able to throw the ball eventually with success Smith could get well against a Falcons secondary that is allowing 306 7 yard per game through the air while opponents are converting 54 1 percent of third downs Redskins sitting out practice midweek included wide receiver Jamison Crowder ankle guard Shawn Lauvao calf wide receiver Paul Richardson knee shoulder running back Chris Thompson ribs tackle Trent Williams NYSE WMB thumb shoulder and safety Montae Nicholson neck hip Cornerback Robert Alford ankle and kicker Matt Bryant right hamstring sat out for Atlanta Field Level Media |
WMB | Take 5 Can Packers D maintain progress vs Patriots | Sunday s deflating ending in L A obscured an outstanding defensive performance by the Packers who go from trying to slow down the Rams to preparing for Tom Brady and the New England Patriots As Green Bay draws another top NFL offense this week New England should be an excellent barometer for Mike Pettine s defense 1 Is the defensive progress sustainable The Rams were without Cooper Kupp but the Green Bay s cornerbacks still deserve ample credit for stalemating a great receiving corps Rookie slot cornerback Jaire Alexander was perhaps the best player on the field He fought tooth and nail at the line of scrimmage and at the catch point while showing off tremendous closing burst Kevin King a 2017 second rounder has been inconsistent in press coverage but looks much more comfortable in Year 2 It s not unreasonable for those two to survive against Julian Edelman and Josh Gordon But who will handle Rob Gronkowski Despite looking clunkier of late Gronkowski remains outstanding making contested catches and the Packers traded one of their best weapons against tight ends in Ha Ha Clinton Dix Pettine whose schemes often gave Tom Brady trouble while with the Jets and Bills will throw myriad looks at Gronk including eight man zones and try a variety of blitzes to unsettle Brady The key could be whether Kenny Clark the uber talented 2016 first rounder keeps playing with the consistency he s shown more often this season Clark and Mike Daniels comprise a scary interior rush duo when they re on but that must translate to pressure up the middle against Brady 2 Can Saints run D handle the spotlight New Orleans run defense is quietly the NFL s most efficient by far 3 2 yards per carry allowed Dallas second at 3 6 Defensive tackles David Onyemata and Sheldon Rankins are brutishly powerful and embrace dirty work while Cameron Jordan sets an awfully mean edge But the Saints haven t faced a ground game that compares to that of the Rams Most of Sean McVay s core runs are forms of outside zone some attacking the perimeter others designed to cut back and many featuring jet motion The front five has developed excellent chemistry and rarely allows penetration which usually short circuits outside zone Todd Gurley is a nightmare to tackle outside but also exceptional at pressing the edge and sifting through cutback lanes Powerful and crafty with his hands Jordan often blows up the frontside of outside zone runs Expect McVay to run mostly away from Jordan while bringing a wideout who will keep the ball at times in jet motion AND a slice blocker usually a tight end toward him a tactic L A employed heavily against Von Miller The jet motion keeps Jordan honest and the slicer looks to cut block him to keep cutback lanes open L A doesn t have to run it well to win but the entire offense is built off Gurley and the outside zone run game If the Saints run D can hold up New Orleans will have the upper hand 3 Steelers Ravens Round 2 is a new ballgame The Ravens won Round 1 handily in Pittsburgh but don t assume they ll sweep the season series A lot has changed since then including the standings Baltimore 4 4 was 3 1 after Week 4 Pittsburgh 4 2 1 was 1 2 1 The Ravens deep passing game which produced gains of 71 and 33 yards to John Brown in Pittsburgh has run dry For all his progress this year Joe Flacco remains inaccurate and inconsistent on deep throws and he ll face tighter windows this time around The Steelers defense has mostly gotten its act together erasing many of the coverage breakdowns that left receivers running wide open early this season Its secondary is still mediocre but the chemistry has improved and linebacker Jon Bostic s zone awareness helps relieve some pressure Baltimore has also been less consistent defending the run springing a few leaks in Carolina 154 yards on 33 carries last week while Pittsburgh s offense has run through James Conner the last three weeks 64 carries 367 yards six TDs The Steelers will far exceed Week 4 s 11 carry 19 yard performance 4 Tough test for surprising Seahawks As we covered in our Week 8 film study Seattle s young defense has overperformed without Earl Thomas This week a bigger challenge awaits Philip Rivers would be an MVP front runner if not for Patrick Mahomes and Drew Brees as he s carving up defenses with his arm and his mind better than ever He and coordinator Ken Whisenhunt are deadly attacking downfield against predictable zone defenses They showed as much two weeks ago in London exploiting the Titans Cover 4 for touchdowns of 75 and 55 yards First Rivers baited Logan Ryan as Tyrell Williams NYSE WMB zipped by on a go Later Whisenhunt called a scissors concept post route and corner route that intersect to blur Tennessee s coverage responsibilities and spring Mike Williams wide open The Seahawks D is more diverse than during coordinator Ken Norton s tenure as linebackers coach 2010 14 but it still relies heavily on Cover 3 especially on early downs Coming off a bye the Chargers will surely attack this tendency Expect several vertical concepts with switch releases like scissors or post wheel as well as a deep over route by the inside slot receiver closest to the formation out of a three wideout set In Seattle s Cover 3 a linebacker usually Bobby Wagner or strong safety Bradley McDougald must match that route a very difficult matchup against Tyrell Williams or Travis Benjamin Meanwhile Wagner and K J Wright must meet their lofty standards when closing and tackling underneath Rivers loves to use his checkdown early while a zone defense is still dropping back and Melvin Gordon and Austin Ekeler have been outstanding making defenders miss in space 5 Detroit s D line could dictate vs Vikings The Lions front isn t down to down impactful despite a league high sack rate 11 5 percent Detroit has turned an unsustainable amount of pressure into sacks 36 5 percent 22 1 is league average and its edge rushers have been almost invisible with Ziggy Ansah shoulder out since Week 1 But there is hope Ansah might finally return this week If healthy he should bother Vikings left tackle Riley Reiff who s been out with a foot injury and struggled against bull and speed rushes when on the field If Reiff is out it ll be Rashod Hill at left tackle and rookie Brian O Neill on the right both of whom have proven exploitable On the interior the Vikings were already shaky especially run blocking before left guard Tom Compton s injury The Saints hounded them last week with Rankins tossing center Pat Elflein aside on multiple occasions Newly acquired Damon Snacks Harrison should feast as usual in the run game Against the pass the Lions should get pressure from perhaps the league s quietest rookie standout fourth rounder Da Shawn Hand The top high school recruit in 2014 Hand disappointed at Alabama but is already a better pro than collegian Despite just two sacks he has been a handful sorry couldn t help it as an interior rusher routinely beating blocks and forcing QBs to move Kirk Cousins and his receivers have been fantastic but batted balls and interior pressure have been issues His shaky line is the most glaring weak spot for a team with Super Bowl aspirations David DeChant Field Level Media |
WMB | Boy Erased steps up battle against gay conversion therapy | By Jill Serjeant LOS ANGELES Reuters It s been 14 years since Garrard Conley the gay son of an Arkansas Baptist preacher was sent to conversion therapy and two years since he published a memoir about what he calls the psychological torture he endured there But it was only after watching Boy Erased the movie version of his own story that what happened to him fully came home With memoir and writing you are able to create some padding around the experience But on film you can t hide anything Conley said I was able to have some distance from it and to see myself and think Oh I didn t do anything wrong I submitted to conversion therapy under duress I was going to lose my family the God that I knew and the community When you see it enacted on screen it makes it a little bit clearer he said Boy Erased opening in U S movie theaters on Friday stars Lucas Hedges as Conley with Nicole Kidman and Russell Crowe playing his parents It dramatizes then 19 year old Conley s stay at a Love in Action religious fundamentalist center in 2004 where gay men and women were beaten with bibles by family members drilled in manly sports and told their same sex attraction was linked to alcoholism and gambling in their families Some 700 000 Americans have been forced to undergo a form of conversion therapy according to the Williams NYSE WMB Institute at the University of California Los Angeles Some 36 U S states still allow the practice Conley hopes the film will serve both as an act of solidarity to those who have gone through such programs and to help end them He has helped set up a website with the backing of LGBT groups and a podcast series Unerased that takes a comprehensive look at the history of gay conversion therapy through the stories of those who have gone through it their parents and some of those who used to administer One of them is former Love in Action director John Smid who resigned from the organization in 2008 later married his gay partner and who has apologized publicly I am happy to see John doing the right stuff and it is important for him and people like him to say This never worked Conley said Conley says the real heroes are people like his mother who rescued him from the conversion program but who still live in small American towns where LGBT people are shunned My mom is out here in Los Angeles for the film getting applause But when she goes back home to Arkansas people are like Oh I m so sorry your son is gay
She has to deal with that bigotry on a daily basis like I used to have to Those are the heroes that actually change culture The rest of us leave he said |
WMB | Netanyahu condemns killing of Saudi journalist but keeps focus on Iran | By Tsvetelia Tsolova and Dan Williams NYSE WMB SOFIA JERUSALEM Reuters Israel on Friday condemned the killing of Saudi journalist Jamal Khashoggi in the Saudi consulate in Istanbul but said cooperating with Riyadh against Iran was a greater priority In his first public reaction Prime Minister Benjamin Netanyahu said Khashoggi s death which has caused global outrage was horrendous and must be dealt with Yet at the same time I say that it s very important for the stability of the world for the region and of the world that Saudi Arabia remain stable Netanyahu said I think that a way must be found to achieve both goals Because I think that the larger problem is Iran He spoke to reporters after a meeting in the Bulgarian city of Varna with the leaders of Bulgaria Greece Romania and Serbia The Saudi government initially denied Khashoggi had been killed then that he had died in an unplanned rogue operation before the kingdom s public prosecutor last week said the attack had been premeditated Earlier Israeli Energy Minister Yuval Steinitz had said Khashoggi s killing was outweighed by the existential threat of a nuclear armed Iran and that Arab states including Saudi Arabia are our allies in recent years against the spread of Iran and against the Iranian nuclear threat Iran denies that it is trying to develop nuclear weapons The Netanyahu government has reported semi official Israel Saudi contacts never confirmed and sometimes denied by Riyadh since 2014 Netanyahu made a surprise visit last week to Oman whose foreign minister then told Gulf neighbors that Israel should be accepted in the region Other Israeli delegates this week visited the United Arab Emirates The Trump administration which has brought U S policy sharply in line with Israel s has also sought closer relations with Saudi Arabia
U S envoys see Riyadh and other Gulf powers as possible partners in a broad peace deal with Israel that would overtake its long stalled bilateral negotiations with the Palestinians |
WMB | Fired Jackson I laid foundation for Browns | Hue Jackson won three times in 40 games as head coach of the Browns but claims he was fired prematurely Monday by the Cleveland organization At 3 36 1 Jackson had a winning percentage of 088 General manager John Dorsey and owner Jimmy Haslam announced that they were moving on from Jackson and offensive coordinator Todd Haley The fact that we played four overtime games this year says that we were a better football team In my mind if we fix the offense it s a totally different story Jackson said in an interview with Cleveland com So I do believe the move to let him go was premature But I think a part of the problem again went back to the first two years Jackson reported to ownership during his tenure but faulted former general manager Sashi Brown who was promoted from an analytics role to be a first time personnel boss for digging the Browns a massive roster hole to dig out of the past two years Dorsey was hired in December 2017 to replace Brown and gave only a tepid endorsement of Jackson a signal he wasn t on the same page with the coach or Haslam Jackson said Friday he went around ownership to try to save his offense feeling during the 2018 season it was his only chance to resurrect a group that ranks in the bottom 10 in the league in points per game Jackson said Friday on First Take he is culpable for the final results You re making sure you cross the Ts and dot the Is Jackson said At the end of the day what s most important is we just didn t get it done on offense Haslam said Monday that internal discord in addition to the poor results on the field led to the decision to fire Jackson midseason Jackson on Friday denied he was throwing anyone under the bus by saying Haley had total control of the offense Jackson also pointed directly to Brown and the personnel department passing on multiple quarterbacks Carson Wentz and Patrick Mahomes in particular as a setback for the franchise But he also said 2018 No 1 pick Baker Mayfield is on his way to being a sensational player The problem was that the analytics and football people were not on the same page on who the premium players were and what their value to a football team would be Jackson said of the team s approach to personnel under Brown This was more a people problem of collaboration than just an analytics problem We were getting worse as a team and the NFL is set up for bad teams to get better not worse Jackson said he believes the foundation is in place for the next coach interim head coach Gregg Williams NYSE WMB or a potential replacement to win big Jackson said doing so won t be easy as winning with the Browns would be the Mount Everest of the NFL I believe the constant changes only compound the difficulties for the next person to have the time and patience to be successful I strongly believe that I did a lot of work in a short time of laying the foundation for turning the place around Jackson said It s unfortunate that they took the approach they did the first two years because those were two years that I couldn t get back from a record and value standpoint Jackson said he knows he is a good football coach and expects another job to present itself
I still think there s another opportunity out there I want to go back and be a coordinator he said Field Level Media |
WMB | Clippers roll on road past slumping Magic | The Los Angeles Clippers stopped a two game losing streak with a 120 95 blowout win at Orlando on Friday night The Clippers outscored Orlando 35 22 in the second quarter to grab a 57 44 halftime lead and Orlando never threatened in the second half Lou Williams NYSE WMB led Los Angeles with 28 points and Tobias Harris scored 21 Boban Marjanovic posted a double double with 10 points and 11 rebounds in his first start with the Clippers Marjanovic got the nod ahead of Marcin Gortat who was healthy but did not play Friday night Gortat had started 186 straight games but was averaging just 3 6 points and 5 5 rebounds per game through eight starts this season The Clippers head back to Los Angeles with a win after losing consecutive games at Oklahoma City and Philadelphia On Monday they will host the Minnesota Timberwolves who will be on the second game of a back to back The Magic have lost four straight after beating the Celtics 93 90 in Boston and their offensive woes continued against the Clippers The Magic came into came into the game ranked last in both points scored and field goal percentage They shot 44 4 percent from the floor above their season average of 41 percent but Orlando failed to eclipse the 100 point mark for the third consecutive game Led by Nikola Vucevic 22 points Evan Fournier 19 points and D J Augustin 13 points the Magic went 0 for 8 from 3 point range in the first half and attempted only 17 treys in the game That came after the Magic had shot a team record 43 3 pointers in each of the last two games The Magic travel to San Antonio on Sunday before coming back to Orlando for a three game homestand They may be playing without forward Jonathan Isaac who sprained his ankle in the second quarter and did not return Field Level Media |
WMB | NBA roundup Paul Rockets halt losing skid | Chris Paul scored a season high 32 points and the Houston Rockets opened a five game road trip by rallying from a 14 point deficit to record a 119 111 victory over the Brooklyn Nets on Friday night Paul helped the Rockets snap a four game skid and avoid their first 1 6 start since 2010 11 by shooting 13 for 27 from the field Paul also made five 3 pointers including two that beat the buzzer in the second and third quarters Carmelo Anthony drained six threes and scored 28 points in 31 minutes off the bench The Rockets played their third straight game without James Harden strained left hamstring Harden worked out on the court before the opening tip and coach Mike D Antoni said he would probably play Saturday in Chicago Caris LeVert scored a career high 29 points for the Nets who lost for the fourth time in five games Joe Harris added 18 while Spencer Dinwiddie contributed 12 Thunder 134 Wizards 111 Russell Westbrook had 23 points and 12 assists Jerami Grant scored 22 and visiting Oklahoma City routed Washington spoiling the debut of Dwight Howard Westbrook hit 10 of 16 field goal attempts and Grant made 9 of 11 for the Thunder who pulled away in the second quarter Paul George scored 17 points and Dennis Schroder added 16 off the bench as Oklahoma City playing the second of road back to backs won its fourth straight game Bradley Beal led Washington with a game high 27 points Howard who missed training camp preseason and the team s first seven games due to a strained piriformis muscle in his lower back scored 20 points on 7 of 8 shooting in 23 minutes as the Wizards lost their fifth straight game Pacers 107 Bulls 105 Darren Collison s 19 footer broke a tie with 18 5 seconds remaining helping Indiana survive a see saw battle with host Chicago After watching Antonio Blakeney improbably rally the Bulls from a 105 101 deficit with a four point play with 30 5 seconds to go on a foul by Collison the Pacers called a timeout and got the game winning shot from Collison 12 seconds later The win was the Pacers fourth straight on the road and the fourth overall in their last five games as Victor Oladipo recorded a game high 25 point 14 rebound double double Chicago meanwhile dropped a third straight in the midst of a four game homestand Knicks 118 Mavericks 106 Undrafted rookie guard Allonzo Trier scored 23 points and led four bench players in double figures as New York earned its first road win of the season over struggling Dallas The Knicks who entered the game ranked 25th in the NBA in scoring 106 0 points per game and 26th in field goal percentage 431 had seven players score in double figures New York shot 54 8 percent overall despite going just 7 of 29 from beyond the arc Mavs reserve Dorian Finney Smith scored a season high 19 points rookie point guard Luka Doncic had 18 points nine rebounds and six assists and Harrison Barnes added 14 points on just 4 of 14 shooting while being shut out in the second half Grizzlies 110 Jazz 100 Mike Conley scored 28 points and Shelvin Mack added 19 off the bench to rally Memphis to a 10 point victory over host Utah Marc Gasol added 17 points 10 rebounds seven assists and four steals to help the Grizzlies notch their second road win over the Jazz Memphis has won three straight and five of its past six overall Ricky Rubio scored 22 points to lead Utah Joe Ingles added 19 points and Jae Crowder chipped in 18 Rudy Gobert collected 16 rebounds The Jazz remain winless at home dropping to 0 3 in Salt Lake City Utah played without guard Donovan Mitchell who was sidelined with right hamstring tightness Clippers 120 Magic 95 Los Angeles stopped a two game losing streak with a blowout win at Orlando Lou Williams NYSE WMB led Los Angeles with 28 points in just 21 minutes off the bench including shooting 5 for 5 from 3 point range Tobias Harris scored 21 with seven rebounds and Boban Marjanovic posted a double double with 10 points and 11 rebounds in his first start with the Clippers
Marjanovic got the nod ahead of Marcin Gortat who was healthy but did not play Friday night Gortat had started 186 straight games but was averaging just 3 6 points and 5 5 rebounds per game through eight starts this season Field Level Media |
VZ | Verizon Drives CBRS Advancement Unit Launches AR Platform | The U S telecom giant Verizon Communications Inc NYSE VZ has collaborated with leading players in the market to drive advancements across the Citizen Band Radio Spectrum CBRS Having 150 MHz of 3 5 GHz shared spectrum the CBRS band until now has been primarily used by the federal government for radar systems The Federal Communications Commission had authorized shared use of the spectrum with wireless small cells in 2016 With LTE Advanced technology and carrier aggregation Verizon will be able to use this shared spectrum to add capacity to its network Its customers will benefit from more capacity higher peak speeds and faster throughput when accessing the network The end to end system testing began in February and is expected to continue over the next several weeks This has provided actionable insights while significantly advancing CBRS spectrum deployment feasibility There are many players in the CBRS ecosystem and these successful trials ensure that all the various parts perform together as an end to end system for customers benefit Both commercial deployment of LTE on CBRS spectrum and devices that can access the same are expected to begin in 2018 The promise of the CBRS band and enabling the use of wider swaths of spectrum will likely make a big impact on carrying wireless data in the future At the same time in a separate development Verizon s Extended Reality organization Envrmnt has created a simple to use web based tool which will help creative and non technical users build powerful augmented reality AR experiences It has been built specifically for creating AR experiences for mobile devices in order to enhance the company s revenues With the help of AR Designer application publishers can quickly and easily deploy a diverse set of AR experiences which can result in sales growth Various firms schools and government agencies make it easy for their customers to experience AR in a familiar environment by integrating the Envrmnt software development kit into their own mobile application Over the last six months Verizon s shares have outperformed the with an average loss of 1 6 compared with a decline of 6 8 for the latter Verizon carries a Zacks Rank 3 Hold Some better ranked stocks in the industry are United States Cellular Corporation NYSE USM Mellanox Technologies Ltd NASDAQ MLNX and SITO Mobile Ltd NASDAQ SITO While United States Cellular and Mellanox Technologies sport a Zacks Rank 1 Strong Buy SITO Mobile carries a Zacks Rank 2 Buy You can see United States Cellular has an expected long term earnings growth rate of 1 It has exceeded earnings estimates thrice in the trailing four quarters with an average of 306 5 Mellanox Technologies has an expected long term earnings growth rate of 15 SITO Mobile has an expected long term earnings growth rate of 25 Will You Make a Fortune on the Shift to Electric Cars Here s another stock idea to consider Much like petroleum 150 years ago lithium power may soon shake the world creating millionaires and reshaping geo politics Soon electric vehicles EVs may be cheaper than gas guzzlers Some are already reaching 265 miles on a single charge With battery prices plummeting and charging stations set to multiply one company stands out as the 1 stock to buy according to Zacks research It s not the one you think |
VZ | Wireless Carrier Stocks Soar As Sprint T Mobile Restart Merger Talks | Shares of Sprint NYSE S soared more than 2 in Tuesday afternoon trading after reports emerged that the telecom company has restarted merger talks with T Mobile NYSE T The new rumors breathed some life into the rest of the wireless carrier industry lifting shares of AT T NYSE T and Verizon NYSE VZ as well
According to anonymous sources cited by the latest round of negotiations between T Mobile and Sprint the third and fourth largest mobile providers respectively are still in preliminary stages
The companies previously ended merger negotiations in November with T Mobile parent Deutsche Telekom NYSE T Sprint majority owner SoftBank NYSE T and all other interested parties unable to reach an agreement on the terms of a deal
But today s development is just latest twist in what has been an ongoing story ever since Softbank completed its acquisition of Sprint in 2013 Softbank s enigmatic CEO Masayoshi Son has been an outspoken proponent of the deal but the two sides have thus far been met with regulatory headaches and differing expectations
Sprint shares skyrocketed more than 20 to touch an intraday high of 6 41 shortly after the new reports emerged T Mobile followed suit gaining as much as 7 through early afternoon trading hours At the same time AT T popped about 2 6 and Verizon ticked roughly 4 higher
A combined T Mobile Sprint would still fall behind both AT T and Verizon in number of wireless subscribers and total market cap but the new company would likely create billions in cost synergies almost immediately
Meanwhile consolidation in the broader telecom and media space has become the norm over the past few years and with the rollout of 5G networks set to begin over the next few years the wireless carrier industry is on the cusp of what should be a transformational period
One thing investors will want to keep an eye on is chatter about the leadership structure of a combined T Mobile Sprint In the past it was assumed that T Mobile CEO John Legere would be at the helm of the merged brand but Son has also said that he wants a say in the direction of the company
Want more market analysis from this author Make sure to follow on Twitter
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 | Verizon Six month window to figure out online TV entry | Verizon VZ 1 will decide in the next six months about how it will deliver online TV in a crowded field its CEO says Speaking at a Bloomberg conference Lowell McAdam says the company s own over the top service is absolutely critical if it s to take advantage of the ad tech power built up in Oath the subsidiary it built out of AOL and Yahoo NASDAQ AABA buyouts While it was reported to be planning a summer 2017 launch of Internet TV to match Sling TV and DirecTV Now it was said to have trouble signing up networks It may need a partner to get the service on its feet but there s no big M A planned for us despite any number of rumors floated in the past several months Now read |
CSCO | U S China trade hopes revive stocks protests leave scars | By Marc Jones LONDON Reuters Hopes of a U S China trade deal turned world stock markets and other risk assets higher on Friday though an escalating wave of global protests from Hong Kong to Chile left some deep scars Europe s main bourses and Wall Street futures followed Asia higher EU N after White House economic adviser Larry Kudlow said on Thursday that the United States and China were nearing a deal and talking every day We re getting close he told an event at the Council on Foreign Relations in Washington The mood music is pretty good and that has not always been so in these things It kept alive hopes that MSCI s 49 country world index and Europe s STOXX 600 could both avoid their first weekly falls since the start of October but it was touch and go and others had little chance Emerging market stocks were down 1 7 for the week after a violent escalation of pro democracy demonstrations in Hong Kong had left the Hang Seng down 4 7 its worst weekly performance in four months Chinese blue chip shares ended the day down 0 75 and 2 4 for the week which was their biggest fall since August Fierce anti government protests in Chile means its currency could have its worst week since 2011 with a 7 plunge The politics of anger is an important element that one needs to take account off UBP s EM macro and FX strategist Koon Chow said Populations are feeling left behind even during the upswing You have to wonder what happens when people start losing their jobs Shane Oliver chief economist at AMP Capital in Sydney likened regional markets bullish reaction to positive trade news to being in a relationship with an alcoholic driven by entrenched hopes for recovery U S Commerce Secretary Wilbur Ross said there would be a call between U S and Chinese officials later in the day as both sides continue to hammer out a phase one trade pact but added U S tariffs on Chinese imports could still start Dec 15 Markets want to believe that there will be some sort of resolution to this issue some sort of lasting truce at least even though the experience of the last 18 months doesn t give a lot of cause for comfort AMP s Oliver said However weaker Chinese and U S economies as well as the U S presidential election next year put pressure on both sides to come to an agreement he added RECESSION SUPPRESSION In currencies the safe haven yen weakened with the dollar rising 0 3 to buy 108 73 yen The euro was barely changed at 1 1023 and the dollar index which tracks the greenback against a basket of six major rivals was off just 0 02 at 98 129 Higher U S Treasury yields also illustrated the risk on tone in the Asian session with the 10 year yield rising to 1 845 from a U S close of 1 815 on Thursday The policy sensitive two year yield rose to 1 6101 from 1 593 on Thursday after U S Federal Reserve Chair Jerome Powell said the risk of the U S economy facing a dramatic bust is remote A Reuters poll of more than 100 economists showed that while concerns have eased over a U S recession few see an economic rebound and most believe a trade truce is unlikely in the coming year BULLS VS CHINA Government borrowing costs in Germany and France also inched up on Friday but were set for sizeable weekly declines in contrast to southern European countries that have come under heavy selling pressure again this week Germany s 10 year Bund yield was at 0 33 off more than one week lows hit on Thursday But it is down 8 bps on the week set for the biggest weekly fall since mid August Dutch 10 year bond yields are down 7 bps this week and French yields are 5 bps lower Data on Thursday had showed Germany s economy grew just 0 1 in the third quarter with consumer spending helping the country to avoid a mild contraction and a technical recession of two quarters of economic shrinkage In general there has been risk aversion in recent days and a shift to core bond markets from the periphery said Daniel Lenz a rates strategist at DZ Bank Global sentiment has been buffeted in recent weeks by conflicting assessments of progress in talks between the United States and China aimed at ending their 16 month long trade war China s commerce ministry said the two countries are holding in depth discussions on the first phase trade pact and that cancelling tariffs is an important condition to reaching a deal China has also ended a nearly five year ban on imports of U S poultry meat which the U S Trade Representative said would lead to more than 1 billion in annual shipments to China Those developments followed comments from officials from both countries last week that they had a deal to roll back tariffs only to have U S President Donald Trump deny that any such deal had been agreed to The new record for the S P which gained just 0 08 to 3 096 63 came despite a grim outlook from network gear maker Cisco Systems NASDAQ CSCO that underlined the impact of trade uncertainty In commodity markets U S crude prices seesawed after sliding Thursday on rising U S crude inventories U S West Texas Intermediate crude stumbled from 57 02 to 56 67 a barrel Global benchmark Brent crude slipped 0 5 to just below 62 per barrel on the way to a modest weekly fall
Gold retreated from gains that had been prompted by trade uncertainty Spot gold was last trading at 1 463 90 per ounce down 0 48 |
CSCO | Company logos vanish from Prince Andrew s website as sex scandal grows | By Estelle Shirbon and Carolyn Cohn LONDON Reuters A scheme for entrepreneurs founded by Prince Andrew has taken down the logos of its corporate sponsors from its website as firms and charities distance themselves from the British royal over a sex scandal Andrew Queen Elizabeth s second son denies an allegation that he had sex with a 17 year old girl procured for him by his friend Jeffrey Epstein who killed himself in a U S prison in August while awaiting trial on sex trafficking charges The scandal has escalated since Andrew s rambling denials and explanations in a disastrous TV interview aired on Saturday left many viewers incredulous and his apparent lack of compassion for Epstein s victims drew widespread condemnation The supporters page on the website of Andrew s Pitch Palace program which is intended as a platform to boost the work of entrepreneurs was no longer available on Tuesday Cached versions of the page saved in June this year showed it carried the logos of brands including KPMG AstraZeneca Barclays LON BARC Cisco NASDAQ CSCO Standard Chartered LON STAN and Bosch Pitch Palace did not immediately respond to an emailed request for comment Insurance broker AON confirmed it had asked Pitch Palace to remove its logo from the website A spokesman said the logo had been placed on the site in error as AON had no connection to the scheme KPMG which was listed as a founding partner on the old supporters page ended its sponsorship of Pitch Palace on Oct 31 Several national media in Britain reported the decision was linked to adverse publicity around Andrew at that time A KPMG spokesman declined to comment Standard Chartered said it would not be renewing its sponsorship of Pitch Palace when it expired at the end of the year A spokesman for AstraZeneca said the company s three year partnership with Pitch Palace was due to expire at the end of the year and was being reviewed Barclays which has supported participants in the Pitch Palace program for five years declined to comment Separately British charity The Outward Bound Trust has called a board meeting this week to discuss Andrew s patronage a spokeswoman said Other non profit organizations are having similar internal discussions British media said
In Britain royal patronage is usually considered an honor and a boost for charities |
WMB | Williams Williams Partners say FERC policy changes do not affect guidance | Williams Cos WMB 1 8 and Williams Partners WPZ 3 1 bounce back after saying they do not expect yesterday s FERC policy changes to affect previous guidance for cash dividends and distributions and related growth rates The FERC s revised policy will only impact cost of service rate calculations on a prospective basis the companies say Negotiated rates will make up 50 of Transco s revenue by year end and would not be impacted by this ruling Northwest Pipeline settled its rate case with shippers in 2017 with new rates becoming effective in 2018 Finally Gulfstream Natural Gas System s rates with its customers which are all negotiated rates would not be impacted by this ruling WMB the S P 500 s biggest loser yesterday with a 10 8 shellacking also notes that it owns 74 of WPZ and is an income tax paying entity Now read |
WMB | U S Baptist missionary from Indiana killed in Cameroon family | WASHINGTON Reuters A Christian missionary from Indiana was killed in Cameroon on Tuesday when he was shot while traveling in a region where the military and separatists have been fighting a family member said The U S State Department confirmed on Tuesday that an American citizen had been killed in Cameroon and said it was offering all appropriate consular assistance to the family but provided no further details about the person Charles Wesco a 44 year old Baptist missionary had been in Cameroon for less than two weeks when he was killed his sister in law Joy Williams NYSE WMB said He was shot in a region of northwest Cameroon where the military has been fighting English speaking separatists who want to break away from the predominantly Francophone central government and create an independent state called Ambazonia The conflict has killed hundreds of people since last year and has emerged as Cameroon President Paul Biya s greatest security problem in nearly four decades in power Biya won election to a seventh term earlier this month The American missionary was traveling in a vehicle with his wife one of his children and another missionary heading toward the town of Bamenda when a soldier shot him several times in the head Williams said by phone from the United States Aside from Wesco no one else in the vehicle was struck by gunfire during the ambush Williams said and the family was unsure if the soldier was with the country s military or the separatists Wesco who lived in Warsaw Indiana and belonged to a local Baptist church there had been a piano tuner before becoming a missionary Williams said He is survived by eight children she said The Wesco family had originally planned to move to Cameroon in August but had delayed their mission because of the unrest she said They were aware of the danger she said |
WMB | Motor racing Calderon sets a female F1 first for Latin America | MEXICO CITY Reuters Colombian Tatiana Calderon became the first Latin American woman to drive a Formula One car in an official capacity when she took part in a promotional event for the Sauber team in Mexico on Tuesday The 25 year old GP3 racer was appointed official test driver for the Ferrari powered Swiss team last March after a year in a development role but on Tuesday she had her first opportunity to drive the 2018 car I can t describe the sensation of being in the car I don t want to go back to my GP3 car she said afterwards Teams are allowed to do a maximum of 100km equivalent to 23 laps of the Mexican Grand Prix circuit on such filming days Since I started racing my dream and goal has been to drive at the highest level one day she had said when it was announced she would drive the C37 car at the Hermanos Rodriguez circuit As a Latin American driver there could not be a more special place for me to make my debut behind the wheel of a Formula One car Calderon who is backed by the team s Mexican sponsor Telmex was the first woman to drive a current Formula One car since Britain s Susie Wolff who retired in 2015 after taking part in two grand prix practice sessions for Williams NYSE WMB The Colombian is hoping to compete in Formula Two next season Formula One has not had a woman driver start a grand prix since Italian Lella Lombardi in 1976 |
WMB | Tennis U S name unfamiliar lineup for Fed Cup final | Reuters Defending champions the United States have named an unfamiliar looking lineup missing all their big guns for next week s Fed Cup final against a powerful Czech Republic With Serena and Venus Williams NYSE WMB unavailable together with Sloane Stephens and Madison Keys captain Kathy Rinaldi s top ranked player is world number 35 Danielle Collins She will be joined in Prague by 48th ranked Sofia Kenin number 63 Alison Riske and Nicole Melichar the world s 15th ranked doubles player The tie takes place on Nov 10 11 Riske was a member of the U S squad that won the Fed Cup title over Belarus last year in Minsk but this is a first Fed Cup nomination for Collins Kenin and Melichar Stephens is the highest American on the WTA rankings at sixth while Keys is 16th The Williams sisters Serena and Venus are currently ranked 15th and 40th The Czechs will be rolling out their best to face the U S with world number seven Petra Kvitova and number eight Karolina Pliskova along with doubles number one Katerina Siniakova and number five Barbora Strycova All are expected to see action in the best of five match series inside Prague s O2 Arena
The U S have dominated the Czechs in Fed Cup play posting a 10 2 record The nations have met twice in the final with Czechoslovakia winning in 1985 and the U S winning in 1986 |
WMB | Williams Earnings Revenue beat in Q3 | Investing com Williams NYSE WMB reported third quarter earnings that beat analyst s expectations on Wednesday and revenue that topped forecasts
The firm reported earnings per share of 0 24 on revenue of 2 3B Analysts polled by Investing com forecast EPS of 0 21 on revenue of 2 24B That compared to EPS of 0 36 on revenue of 1 89B in the same period a year earlier The company had reported EPS of 0 17 on revenue of 2 09B in the previous quarter
For the year Williams shares are down 20 2 under performing the S P 500 which is up 1 04 year to date
Williams follows other major Energy sector earnings this month
On Tuesday PetroChina ADR reported third quarter EPS of 1 65 on revenue of 86 35B compared to forecasts of EPS of 1 55 on revenue of 91 07B
Total ADR earnings beat analyst s expectations on Friday with third quarter EPS of 1 47 on revenue of 48 4B Investing com analysts expected EPS of 1 41 on revenue of 48 86B
Stay up to date on all of the upcoming earnings reports by visiting Investing com s earnings calendar |
VZ | Why Is Verizon Communications VZ Down 11 6 Since Its Last Earnings Report | It has been about a month since the last earnings report for Verizon Communications Inc NYSE VZ Shares have lost about 11 6 in the past month underperforming the market
Will the recent negative trend continue leading up to its next earnings release or is VZ due for a breakout Before we dive into how investors and analysts have reacted as of late let s take a quick look at the most recent earnings report in order to get a better handle on the important catalysts
Verizon Q4 Earnings Miss Revenues Beat EstimatesVerizon reported mixed financial numbers in the fourth quarter of 2017 While the top line beat the Zacks Consensus Estimate the bottom line lagged the same Net IncomeQuarterly GAAP net income was 18 783 million compared with 4 600 million in the year ago quarter Adjusted earnings per share of 86 cents lagged the Zacks Consensus Estimate of 88 cents RevenueTotal revenues increased 5 year over year to 33 955 million which beat the Zacks Consensus Estimate of 33 145 7 million Operating MetricsTotal operating expenses in the quarter under review were 29 162 million up 19 9 year over year Operating income totaled 4 793 million down 40 3 year over year Cash Flow and LiquidityAs of Dec 31 2017 Verizon generated 25 305 million of cash from operating activities compared with 22 810 million in the year ago quarter At the end of the reported quarter Verizon had 2 079 million of cash and cash equivalents and 113 642 million in long term debts compared with 2 880 million and 105 433 million respectively at the end of 2016 Wireless SegmentTotal revenues were 23 771 million up 1 7 year over year Service revenues dropped 2 9 to 15 880 million Equipment revenues increased 12 9 to 6 475 million Other revenues totaled 1 416 million up 9 1 Operating expenses declined 2 4 to 16 653 million Operating income improved 12 8 to 7 118 million Quarterly operating income margin was 29 9 compared with 27 0 in the year ago quarter Segment EBITDA increased 9 6 to 9 462 million EBITDA margin was 39 8 compared with 36 9 in the prior year quarter As of Dec 31 2017 Verizon had 116 257 million retail subscribers up 1 8 year over year Of the total retail postpaid subscriber count was 110 854 million up 1 9 Meanwhile retail prepaid user count was 5 403 million down 0 8 In the reported quarter the company gained 1 174 million postpaid customers but lost 0 184 million prepaid customers Quarterly retail postpaid churn rate was 1 00 compared with 1 10 in the year ago quarter Total retail churn rate was 1 24 compared with 1 34 in the year ago quarter Of the total activated phones smartphones accounted for 96 7 compared with 95 2 in the prior year quarter Retail postpaid ARPA average revenue per account was 135 78 compared with 141 89 in the year ago quarter Wireline SegmentTotal revenues in the segment were 7 617 million up 0 1 year over year Consumer retail revenues were down 1 4 to 3 188 million Enterprise Solutions revenues inched up 0 4 to 2 285 million Partner Solutions revenues were up 0 3 to 1 209 million Business Markets revenues grossed 885 million up 7 7 Other revenues declined 30 6 to 50 million Operating expenses increased 3 9 to 7 555 million Quarterly operating income was 62 million down 81 6 year over year Quarterly operating margin was 0 8 compared with 4 4 in the year ago quarter Segment EBITDA fell 10 0 to 1 594 million EBITDA margin was 20 9 compared with 23 3 in the year ago quarter As of Dec 31 2017 FiOS video subscriber base was 4 619 million down 1 6 year over year FiOS Internet subscriber count was 5 850 million up 3 5 and FiOS digital voice residence connections totaled 3 905 million up 0 3 During the quarter Verizon lost 29 000 FiOS video subscribers and 15 000 FiOS digital voice residential connections while gaining 47 000 FiOS Internet subscribers High speed internet connection dropped 19 9 year over year to 1 109 million while total broadband connection number was 6 959 million down 1 1 Primary residence switched access connections declined 16 2 to 2 708 million and Primary residence connections fell 7 2 to 6 613 million Total retail residence voice connections declined 7 5 to 6 804 million and total voice connections contracted 8 0 to 12 821 million Outlook for 2018 On a GAAP basis Verizon expects positive service revenue growth by the end of 2018 or early 2019 Capital spending for 2018 is expected in the range of 17 0 billion to 17 8 billion including the commercial launch of 5G The expected savings from tax reform will boost cash flow from operations by 3 5 4 0 billion in 2018 This is expected to yield a 55 65 rise in 2018 EPS The effective tax rate for 2018 is projected in the range of 24 26
How Have Estimates Been Moving Since Then
In the past month investors have witnessed an upward trend in fresh estimates There have been five revisions higher for the current quarter while looking back an additional 30 days we can see even more upward momentum Verizon Communications Inc Price and Consensus
VGM Scores
At this time VZ has a poor Growth Score of F however its Momentum is doing a lot better with an A Charting a somewhat similar path the stock was also allocated a grade of B on the value side putting it in the second quintile for this investment strategy
Overall the stock has an aggregate VGM Score of C If you aren t focused on one strategy this score is the one you should be interested in
Our style scores indicate that the stock is more suitable for momentum investors than value investors
Outlook
Estimates have been trending upward for the stock and the magnitude of these revisions looks promising It comes with little surprise VZ has a Zacks Rank 2 Buy We expect an above average return from the stock in the next few months |
VZ | Frontier Communications FTR Q4 Loss Narrower Than Expected | Frontier Communications Corp NYSE T reported better than expected financial results in fourth quarter 2017 The company s adjusted net loss was narrower than the Zacks Consensus Estimate and revenues surpassed the same Net IncomeFrontier Communications fourth quarter 2017 net loss on a GAAP basis was 1 082 million or a loss of 13 91 per share compared with a net loss of 133 million or 1 73 in the prior year quarter However quarterly adjusted excluding special items loss per share was 59 cents narrower than the Zacks Consensus Estimate of a loss of 1 12 Frontier Communications Corporation NASDAQ FTR Price Consensus and EPS Surprise RevenueTotal revenues deteriorated 8 year over year to 2 217 million outpacing the Zacks Consensus Estimate of 2 211 million Segment wise Customer revenues totaled 2 027 million down 8 3 year over year while Switched access and subsidy revenues were 190 million down 4 5 year over year Within the Customer segment voice services revenues totaled 687 million down 11 2 year over year Data and Internet services revenues were 939 million down 7 3 year over year Video revenues declined 15 1 to 310 million and Other revenues totaled 91 million up 56 9 year over year Category wise Consumer revenues were 1 086 million down 9 2 Commercial revenues totaled 941 million down 7 2 Switched access and subsidy revenues were 190 million down 4 5 year over year Operating MetricsOperating loss in fourth quarter 2017 was 1 754 million against an operating income of 255 million in the prior year quarter Quarterly operating expenses were 3 971 million up 84 4 year over year This was primarily due to 2 078 million of non cash goodwill impairment in the reported quarter Quarterly adjusted EBITDA was 919 million compared with 976 in the prior year quarter However adjusted EBITDA margin was 41 5 compared with 40 4 in the year ago quarter Cash FlowIn the fourth quarter of 2017 Frontier Communications generated 665 million of cash from operations compared with 714 million in the prior year quarter Free cash flow in the reported quarter was 228 million compared with 316 million in the year ago quarter LiquidityFrontier Communications exited 2017 with 362 million of cash and cash equivalents compared with 522 million at the end of 2016 Total debt at the end of 2017 was 17 626 million compared with 17 923 million at the end of 2016 At the end of 2017 the debt to capitalization ratio was 0 88 compared with 0 62 at the end of 2016 Subscriber StatisticsAs of Dec 31 2017 the number of consumer segment customers decreased 10 1 year over year to 4 397 000 The average monthly consumer revenues per customer were 81 61 up 1 6 year over year Consumer segment customer monthly churn was 1 98 compared with 2 08 in the year ago quarter Commercial segment customers decreased 9 8 year over year to 453 000 Frontier Communications had 3 938 000 high speed broadband subscribers down 7 8 and 961 000 video customers down 16 1 year over year Full Year 2018 OutlookFor 2018 Frontier Communications expects operating free cash flow to be around 800 million Capital expenditures will be in the range of 1 000 1 150 million Interest expense will be around 1 5 billion Recent DevelopmentFrontier Communications competes with large telecom and cable TV operators such as AT T Inc NYSE T and Charter Communications Inc NYSE T The company acquired selected FiOS wireline assets from Verizon Communications Inc NYSE VZ However the company is yet to properly integrate those assets to derive maximum synergies The Hottest Tech Mega Trend of AllLast year it generated 8 billion in global revenues By 2020 it s predicted to blast through the roof to 47 billion Famed investor Mark Cuban says it will produce the world s first trillionaires but that should still leave plenty of money for regular investors who make the right trades early |
VZ | Here s Where This Telecom Stock Looks Attractive | Verizon Communications NYSE VZ provides communications information and entertainment products and services to consumers businesses and governmental agencies The stock peaked out on January 25 2018 at 54 77 a share Since that high pivot the stock has fallen to 48 59
Support To Watch
Traders should note that the current share price is trading below its important 50 day moving average which puts it in a weak technical chart position and potentially signals further downside near term The next major support area for VZ is around 45 That s where the stock was defended in November 2017 and will likely find defense again when retested |
VZ | Verizon Vs AT T Which Telecom Is A Better Buy Today | Investors on the hunt for higher dividend yields shouldn t ignore the U S top telecom operators Verizon NYSE VZ and AT T NYSE T The two players enjoy a dominant position in the U S telecom market Indeed smaller players can t even get close to the volume of their subscribers and superiority of their networks
With this duopoly type situation however it s difficult for investors to figure out which stock is a better buy right now Let s examine both Verizon and AT T to figure out which telecom is in a superior position to provide growth for investors
Share Price Performance
Verizon shares didn t do much during the past 12 months remaining almost flat in the period when the S P 500 rose more than 14 The main reason of this underperformance was the intense competition in the crucial wireless market where Verizon struggled in 2017
Through their aggressive marketing AT T and T Mobile NASDAQ TMUS snatched a significant number of customers from the biggest U S wireless carrier which had to then offer unlimited data plans in order to continue luring subscribers But in its Q4 2017 earnings report it appears Verizon has started to turn the corner
Verizon added 1 2 million net new wireless customers operating revenue rose 5 year over year and Internet of Things revenue soared 17 As well sales at the company s media business Oath rose 10
Verizon management is also estimating that the company s full year 2018 revenue will grow by low single digit percentages which is better than the 1 analysts had been expecting
AT T shares on the other hand performed poorly during the past 12 months when compared to Verizon Its shares plunged 12 in the period as investors remained on the sidelines as the company struggles to overcome legal hurdles to acquiring Time Warner NYSE TWX in an 85 billion deal
The Justice Department sued in November to try and stop AT T which owns DirecTV from buying movie and TV content creator Time Warner arguing the deal would mean higher prices for rival cable and online video distributors as well as for consumers
Future Growth Drivers
For long term income investors what matters most while deciding between the two top dividend payers in this sector is which one has the best strategy for success in the fast changing world of technology By this metric both Verizon and AT T have made some strategic moves with the potential to unlock future growth
Verizon bought Yahoo NASDAQ AABA last year for 4 5 billion in order to package its content with AOL to create a company called Oath
AT T on the other hand wants to combine its telecommunications assets with Time Warner s media empire to bundle wireless with TV and internet for millions of customers
Both telecom giants are also investing heavily in the game changing next generation of wireless networks known as 5G to expand their wireless dominance 5G networks will enable new technologies and connect millions more everyday devices including smart appliances wearables and cars
I think Verizon is ahead in this race due to its acquisition of Straight Path After an intense bidding war with AT T Verizon recently to buy Straight Path Communications for 3 1 billion Straight Path holds very valuable licenses in the wireless spectrum that can be used for delivery of faster 5G service
Which Is Better
Both stocks have a solid track record of rewarding investors with the growing dividend payouts With an annual dividend yield of 4 84 Verizon hiked its quarterly dividend by 2 2 last year to 0 59 a share This was the 11th consecutive year that Verizon s Board approved a quarterly dividend increase
At 5 4 AT T has a juicier dividend yield and a 34 year of history of consecutive payout hikes Investors received a 2 increase in the quarterly dividend to 0 50 per share in December
Assuming that AT T s Time Warner deal goes through it will create a major spike in the company s net debt level forecast to touch 182 billion slightly more than triple the EBITDA of the combined companies according to Bloomberg calculations That will stretch AT T s balance sheet and may make it harder for the company to grow its dividend going forward unless it finds a way to cut its debt load
I think investors are better off ignoring AT T s attractive dividend yield at this point and should wait on the sidelines until there s a decision on the Time Warner merger Buying Verizon which has been much more aggressive in its 5G roll out and also has a better balance sheet is the less risky play for long term investors |
VZ | Verizon Seeks FCC Nod For LTE Equipment Test For Band 66 | Verizon Communications Inc NYSE VZ is seeking permission from the Federal Communications Commission FCC to conduct new LTE equipment tests using Advanced Wireless Servies 3 spectrum AWS 3 for Band 66 Band 66 is a radio frequency band used for mobile phones in the United States Being one of the latest bands it is used exclusively for 4G LTE technology Band 66 is also known as AWS Verizon plans to conduct field tests from Mar 19 May 31 using Ericsson s single base station and LG s mobile units in a highly controlled environment in Greenville SC LG s mobile units will be operating within the coverage area of the base station in order to receive the intended broadcast signal Verizon along with its partners is trying to develop equipment that are compatible with Band 66 using LTE technologies As part of the trial Verizon will check the signal transmission time and any service intrusion in an unclaimed frequency block AWS 3 G block within the 2155 2160 MHz band Notably Verizon won 181 licenses in the AWS 3 auction covering 192 million POPs or around 60 of the population in 2015 AT T NYSE T and T Mobile US NYSE T also gained from the AWS 3 spectrum auction The AWS 3 auction closed in January 2015 after registering a record breaking bidding of 44 89 billion breezing past the regulator s initial estimate of a little over 10 billion Such trials have become very popular in the wireless industry in relation to the upcoming 5G technology In December 2017 AT T requested FCC to on the 3 5 GHz frequency band T Mobile US also for Special Temporary Authority from the FCC to test microwave radio spectrum bands in the range of 71 76 GHz and 81 86 GHz in two sites in Bellevue WA Given this backdrop we expect investor focus to remain on the outcome of the reported trial which should enhance the telco s wireless segment Verizon is strong on the back of wireless segment In fourth quarter 2017 the company reported a net increase of 1 174 million retail postpaid wireless subscribers As of Dec 31 2017 Verizon had 116 257 million retail subscribers up 1 8 year over year We believe the company s unlimited data plans attractive promotional plans advertisements and lucrative discounts have paid off in terms of the subscriber gain Further the company has been forging ahead with its 5G launch by conducting multiple 5G wireless network field trials The telco plans to launch next generation 5G wireless residential broadband services in three to five U S markets in 2018 The first commercial launch is scheduled in Sacramento CA in the second half of 2018 Price PerformanceBacked by such positives Verizon has performed pretty well in the past six months Shares of Verizon have moved up 3 7 outperforming the s fall of 1 4 Zacks Rank Key PickVerizon is a Zacks Rank 3 Hold stock Investors interested in the broader can consider United States Cellular NYSE USM currently carrying a Zacks Rank of 2 Buy You can see The projected earnings growth rate 3 5 years for United States Cellular is 1 00 The Hottest Tech Mega Trend of AllLast year it generated 8 billion in global revenues By 2020 it s predicted to blast through the roof to 47 billion Famed investor Mark Cuban says it will produce the world s first trillionaires but that should still leave plenty of money for regular investors who make the right trades early |
VZ | Yahoo must face litigation by data breach victims U S judge | By Jonathan Stempel Reuters A U S judge said Yahoo NASDAQ AABA must face nationwide litigation brought on behalf of well over 1 billion users who said their personal information was compromised in three massive data breaches Wednesday night s decision from U S District Judge Lucy Koh in San Jose California was a setback for efforts by Verizon Communications Inc NYSE VZ which paid 4 76 billion for Yahoo s Internet business in June to limit potential liability The breaches occurred between 2013 and 2016 but Yahoo was slow to disclose them waiting more than three years to reveal the first Revelations about the scope of the cyber attacks prompted Verizon to lower its purchase price for the company In a 93 page decision Koh rejected Yahoo s contention that breach victims lacked standing to sue and said they could pursue some breach of contract and unfair competition claims All plaintiffs have alleged a risk of future identity theft in addition to loss of value of their personal identification information the judge wrote Koh said some plaintiffs also alleged they had spent money to thwart future identity theft or that fraudsters had misused their data Others meanwhile could have changed passwords or canceled their accounts to stem losses had Yahoo not delayed disclosing the breaches the judge said While many claims were dismissed Koh said the plaintiffs could amend their complaint to address her concerns We believe it to be a significant victory for consumers and will address the deficiencies the court pointed out John Yanchunis a lawyer for the plaintiffs who chairs an executive committee overseeing the case said in an interview It s the biggest data breach in the history of the world Verizon spokesman Bob Varettoni said the New York based company declined to comment on pending litigation Yahoo is now part of a Verizon unit called Oath In court papers Yahoo had argued that the breaches were a triumph of criminal persistence by a veritable who s who of cybercriminals and that no security system is hack proof On March 15 the U S Department of Justice charged two officers of the Russian Federal Security Service and two hackers in connection with the second breach in late 2014 The August 2013 breach affected more than 1 billion accounts while the 2014 breach affected more than 500 million A third breach occurred in 2015 and 2016
The case is In re Yahoo Inc Customer Data Security Breach Litigation U S District Court Northern District of California No 16 md 02752 |
VZ | Comcast to launch new platform in push for business customers | By Anjali Athavaley NEW YORK Reuters Comcast Corp NASDAQ CMCSA the largest U S cable provider on Wednesday launched a new business application and platform with faster connections in its push to boost sales to commercial customers as more consumers drop traditional cable services Comcast like other pay TV providers is under pressure as viewing habits change and wants to leverage its infrastructure to grow in other ways Comcast sees 40 billion to 50 billion in potential revenue from selling services like voice video and networking technologies to business customers a market segment traditionally dominated by telecom companies like AT T Inc NYSE T and Verizon Communications Inc NYSE VZ said Bill Stemper president of Comcast Business in an interview He said the application which runs on a software based platform called ActiveCore provides a faster cheaper way to connect branch offices to a data center or business headquarters Business services was the fastest growing segment in Comcast s cable business last year with revenue up 16 1 percent to 5 51 billion We re constantly regarded as really the growth side of the business internally Stemper said Therefore investments are in line with driving that type of growth The company has invested 6 2 billion in business services since 2010 Comcast s customers have been mostly small and mid size business but the company wants to expand to larger enterprises Stemper said Comcast has also been expanding its home security business and is turning to home automation While its video subscriber numbers have fared better than other pay TV companies Comcast last week estimated losing 100 000 to 150 000 subscribers in the third quarter in part due to heightened competition |
VZ | Comcast targets enterprises with new premier platform | Comcast CMCSA 0 7 is rolling out a higher speed platform for business working to capture commercial customers to offset a decline in traditional video subscribership Business services was Comcast s fastest growing segment in cable last year with 16 revenue growth The company sees 40B 50B in potential revenues from the commercial side as it moves in to clash with incumbents like AT T NYSE T and Verizon NYSE VZ It wants to move from a traditional base of SMBs to enterprise class customers Now read |
CSCO | Cisco Falls 6 | Investing com Cisco NASDAQ CSCO fell by 5 63 to trade at 45 72 by 09 30 14 30 GMT on Thursday on the NASDAQ exchange
The volume of Cisco shares traded since the start of the session was 3 28M Cisco has traded in a range of 45 49 to 46 00 on the day
The stock has traded at 48 9800 at its highest and 45 5300 at its lowest during the past seven days |
CSCO | Asian shares rise but gains capped by weak sentiment | By Andrew Galbraith
SHANGHAI Reuters Asian equities rose on Friday after the S P 500 index notched a new record closing high but investor sentiment remained fragile following weak data from China and Germany which reinforced concerns about the global economy
Early in the Asian trading day MSCI s broadest index of Asia Pacific shares outside Japan was up 0 34 Japan s Nikkei added 0 58 and Australian shares gained 0 53
The safe haven yen weakened with the dollar rising 0 11 to buy 108 50 yen The euro was unchanged at 1 1021 and the dollar index which tracks the greenback against a basket of six major rivals was flat at 98 163
Providing a fillip to investor confidence in Asia were comments from White House economic adviser Larry Kudlow that Washington was getting close to a trade agreement with China
Higher U S Treasury yields also indicated a slight risk on tone in the Asian session with the 10 year yield rising to 1 8307 from a US close of 1 815 on Thursday
The policy sensitive two year yield rose to 1 6036 from 1 593 on Thursday after U S Federal Reserve Chair Jerome Powell said the risk of the U S economy facing a dramatic bust is remote
A Reuters poll of more than 100 economists showed that while concerns have eased over a U S recession few see an economic rebound and most believe a trade truce is unlikely in the coming year
Global sentiment has been buffeted in recent weeks by conflicting assessments of progress in talks between the United States and China aimed at ending their 16 month long trade war
On Thursday China s commerce ministry said that the two countries are holding in depth discussions on a first phase trade agreement and that cancelling tariffs is an important condition to reaching a deal
China has also ended a nearly five year ban on imports of U S poultry meat which the U S Trade Representative said would lead to more than 1 billion in annual shipments to China
Those developments followed comments from officials from both countries last week that they had a deal to roll back tariffs only to have U S President Donald Trump deny that any such deal had been agreed to
The new record for the S P which gained just 0 08 to 3 096 63 came despite a grim outlook from network gear maker Cisco Systems NASDAQ CSCO that underlined the impact of trade uncertainty
The company forecast second quarter revenue and profit below expectations as increasingly global economic uncertainties kept clients away from spending more on its routers and switches sending its shares down 7 3
The Dow Jones Industrial Average fell 0 01 27 781 96 and the Nasdaq Composite dropped 0 04 to 8 479 02
European shares also fell after data showed the German economy grew just 0 1 in the third quarter with consumer spending helping the country to avoid a mild contraction
In further diminishing the likelihood of significant fiscal stimulus from the Berlin government it was not good news at all analysts at National Australia Bank said in a morning note
The German data followed numbers from China indicating a faster than expected slowdown in factory output growth in October due to weak domestic and global demand
In commodity markets U S crude prices rebounded after sliding Thursday on rising U S crude inventories U S West Texas Intermediate crude was 0 37 higher at 56 98 a barrel
Gold retreated from gains prompted by trade uncertainty Spot gold was last trading at 1 466 98 per ounce down 0 27 |
WMB | Williams Cos 2 as CEO Armstrong buys 15K shares | Williams Cos WMB 2 3 is higher following the disclosure that President and CEO Alan Armstrong purchased 15K shares yesterday at an average price of 28 60 share totaling 429K Armstrong now owns nearly 380K WMB shares either directly or via trust Armstrong also is Chairman of Williams Partners WPZ 1 2 Now read |
WMB | Efficiency improvements terrifying for nat gas price outlook analyst says | Natural gas futures settled 0 02 higher today at 2 80 MMBtu but Alliance Bernstein analyst Jean Ann Salisbury lowers her gas price outlook to account for high grading declining initial production rates and lower improvement rates from the shift from oil to gas in the Utica shale
Salisbury calls gas well efficiency improvements terrifying the average gas initial production rate of wells is up 34 Y Y compared to a 7 compound annual growth rate during the 2012 15 period and she says it is unrealistic to expect such rates to continue
The analyst is generally bearish in its outlook for gassy E P companies expecting more production but weaker prices and bullish for gassy and NGL midstream Alliance Bernstein has Outperform ratings on Enterprise Products Partners NYSE EPD Energy Transfer Equity NYSE ETE and Williams Cos NYSE WMB
ETFs UNG UGAZ DGAZ BOIL GAZ KOLD UNL DCNG GAZB
Now read |
WMB | Court rejects request to continue building Atlantic Sunrise pipeline | Williams Partners WPZ 2 5 and Williams Cos WMB 1 6 are lower after the D C Circuit Court of Appeals refuses to lift the stay on construction of the Atlantic Sunrise pipeline in Pennsylvania The court also rejects a request from WPZ that the groups opposing the pipeline be made to post an 8M day security bond The court yesterday granted pipeline opponents a stay on construction while it considers an emergency motion challenging the Federal Energy Regulatory Commission s approval of the project Now read |
WMB | After Hours Gainers Losers 3 9 2018 | Top gainers CEIX 3 4 IOVA 2 3 PTI 1 9 TVIX 1 8 RBBN 1 6 Top losers PCK 2 2 WMB 1 8 TTOO 1 5 SUN 1 1 SRCLP 1 1 Now read |
VZ | T Mobile US TMUS Tops Q4 Earnings Estimates Lags Revenues | T Mobile US NYSE T reported mixed financial numbers for the fourth quarter of 2017 The bottom line beat the Zacks Consensus Estimate while the top line lagged the same T Mobile US carries a Zacks Rank 3 Hold You can see The company continues to witness intense competition from rivals like AT T NYSE T Verizon Communications NYSE VZ and Sprint NYSE S in the highly saturated domestic wireless market Net IncomeGAAP net income in the reported quarter was 2 707 million compared with net income of 390 million in the year ago quarter Quarterly earnings per share of 48 cents surpassed the Zacks Consensus Estimate of 37 cents T Mobile US Inc Price Consensus and EPS Surprise RevenuesTotal revenues increased 5 1 year over year to 10 759 million in the reported quarter The figure missed the Zacks Consensus Estimate of 10 886 million Segment wise Service revenues were up 7 1 year over year to 7 757 million Sales from Equipment totaled 2 708 million down 1 2 year over year Other revenues were 294 million up 18 1 year over year Within the Service segment branded postpaid revenues were 4 983 million increasing 6 5 year over year Branded prepaid revenues were 2 371 million up 6 5 Wholesale revenues were 324 million up 25 6 Roaming other services revenues were 79 million down 1 3 Operating MetricsQuarterly operating income was 1 112 million compared with 1 001 million in the year ago quarter Adjusted EBITDA was 2 711 million up 4 year over year Adjusted EBITDA margin was 35 compared with 36 in the year ago quarter Cash Flow LiquidityIn the fourth quarter of 2017 T Mobile US generated 2 058 million of cash from operations compared with 1 602 million in the prior year quarter Free cash flow in the reported quarter was 1 137 million compared with 743 million in the year ago quarter As of Dec 31 2017 T Mobile US had 1 219 million of cash and cash equivalents and 12 121 million of debt outstanding compared with 5 500 million and 21 832 million respectively at the end of 2016 Subscriber Statistics and Other MetricsAs of Dec 31 2017 total customer base of T Mobile US was 72 585 million up 1 6 year over year Branded postpaid phone customers totaled 34 114 million up 9 Branded postpaid other customer count was 3 933 million surging 25 7 Branded prepaid customer count was 20 668 million up 4 4 Wholesale customers were 13 870 million declining 19 4 In the reported quarter T Mobile US added net 0 891 million branded postpaid phone customers 0 181 million branded postpaid other customers 0 149 million branded prepaid customers and 0 633 million wholesale customers Total net customer addition was 1 854 million marking the 19th successive quarter of over 1 million net customer additions Quarterly branded postpaid phone churn was 1 18 compared with 1 28 in the year ago quarter Branded prepaid churn was 4 00 compared with 3 94 in the year ago quarter Quarterly branded postpaid phone average revenue per user ARPU was 46 38 compared with 48 37 in the prior year quarter Branded prepaid ARPU was 38 63 compared with 38 20 in the prior year quarter Branded postpaid average billing per user ABPU was 59 88 compared with 63 08 in the year ago quarter Outlook for 2018For 2018 T Mobile US projects postpaid net customer additions between 2 0 million and 3 0 million Adjusted EBITDA is expected between 11 3 billion and 11 7 billion which includes leasing revenues of 0 6 0 7 billion Including the estimated impact of the new revenue standard adjusted EBITDA is likely to increase by an additional 0 2 0 5 billion Cash purchases of property and equipment excluding capitalized interest are expected between 4 9 billion and 5 3 billion This includes expenditures for 5G deployment The three year 2016 2019 compound annual growth rate CAGR guidance for net cash provided by operating activities is in the range of 16 18 up from the previous range of 15 18 The three year CAGR for free cash flow is expected in the range of 46 48 up from the previous range of 45 48 The estimates were raised after considering the impacts of the approved 1 5 billion stock repurchase program Notably T Mobile US expects branded postpaid phone ARPU for 2018 to be stable compared with that of 2017 per current revenue accounting standards Will You Make a Fortune on the Shift to Electric Cars Here s another stock idea to consider Much like petroleum 150 years ago lithium power may soon shake the world creating millionaires and reshaping geo politics Soon electric vehicles EVs may be cheaper than gas guzzlers Some are already reaching 265 miles on a single charge With battery prices plummeting and charging stations set to multiply one company stands out as the 1 stock to buy according to Zacks research It s not the one you think |
VZ | Buy These 5 Telcos To Cushion Your Portfolio Against Market Turmoil | After an exponential rise throughout 2017 the U S stock markets have been witnessing turmoil in the last couple of weeks There is widespread panic in Wall Street with all the major indices officially entering the correction territory that has extinguished the nearly nine year bull run As of now there is no clear cut opinion about recent market volatility whether this is only a healthy correction or the beginning of what could become a full fledged bear market Whatever be the reason investors should be prepared to minimize fluctuations in their portfolio and consequently should rebalance it with suitable financial assets to maintain stability At this juncture we believe telecom stocks may become important instruments for portfolio stabilization Why Telecom Stocks The need to remain connected is a human need An era of digitization and technology is essentially built on this human need It is here that telecommunications come to the fore as a necessary utility The need for telecommunications in both rural and urban areas as well as its role in the infrastructural development of an economy is of vital importance Telecom is one of the few industries to have seen rapid technological improvement even during recession A growing economy speeds up the demand for real time voice data and video manifold The escalation in demand has encouraged telecom service providers to undertake large network extensions while upgrading plans The rising demand for technologically superior products has been a silver lining for the telecommunication industry in an otherwise tough environment This in turn has given a boost to the demand for telecom infrastructure developers particularly wireless equipment manufacturers Major PositivesSeveral positives emerged for the telecom industry since the last quarter of 2017 President Donald Trump s proposed policy changes have made the overall economic outlook fairly bullish The two pro growth agendas of Trump namely significant cut in corporate tax and deregulation are major catalysts to the U S economy
Trump has stated that he wants to do away with nearly 75 of all governmental regulations during his term as President We believe that the telecom industry will be one of the major beneficiaries of this policy change On Dec 14 2017 in a landmark decision the U S telecom regulator Federal Communications Commission FCC repealed the Net Neutrality laws that it had imposed under the Obama regime There is little doubt that the ISP industry will be the major beneficiary after FCC dismantling Net Neutrality The current FCC s less restrictive regulatory attitude may also pave the way for new merger and acquisition deals between ISPs and online digital media companies The proposal to reduce corporate tax rate from 35 to 21 faced by telecom carriers would be immediately accretive to cash flow Trump s tax proposal will result in a huge windfall for telecom operators The carriers can utilize this money for 5G network R D and deployment The telecom industry is highly capital intensive in nature Therefore the immediate expensing of investment in all tangible intangible and real property other than land would significantly benefit telecom carriers This would encourage telecom operators to increase investment for capital expenditure Major proposals such as a pledge to spend 1 trillion in infrastructure projects over a period of 10 years along with the above mentioned policy changes are likely to spur higher consumer spending Upcoming 5G Wireless Network5G Fifth generation superfast wireless networks will provide the primary impetus to the telecom industry In 2018 we expect 5G wireless network to be a game changer in the telecom space with a full fledged deployment in 2020 Per a report by research firm iGR U S telecom operators will spend around 104 billion between 2015 and 2025 to upgrade existing 4G networks to the upcoming 5G standards and thereafter execute full installation of 5G wireless services We expect wireless networks to provide the primary impetus to the telecom industry In this regard Internet of Things IoT has the potential to emerge the numero uno factor for future growth in the space According to a report by research firm International Data Corporation IDC worldwide spending on IoT will grow at 19 2 compound annual growth rate to nearly 1 7 trillion in 2020 from 698 6 billion in 2015 High Dividend YieldsOne of the easiest ways for any company to raise its shareholders wealth is to hike dividend rate Telecom companies offer one of the highest dividend yields in the U S economy Typically well established profitable companies pay dividends Investors seeking income producing dividends stocks are well served by growth and income oriented companies i e companies with stable earnings growth that pay a solid dividend Unlike other industries U S telecom operators generate revenues predominantly in the country This makes these stocks less susceptible to volatility in the foreign exchange rate as well as macro economic fluctuations plaguing the rest of the world
As the U S economy is growing steadily supported by strong data of various macro indicators many of these large companies are likely to generate massive cash but because of their size may not have growth opportunities they once had For that reason high dividend yielding companies will be attractive for investors Our PickAs a predominantly defensive industry we believe telecom stocks will be beneficiaries when the market is in doldrums Significant tax relief together with the strong underlying policy of ensuring that Americans have access to high speed mobile broadband in rural and urban areas alike should help large telecom operators going forward Substantial government expenditures including those on U S broadband infrastructure development program and similar structural subsidies in China and India have been a boon to telecom service providers At this stage we believe investors should choose stocks which promise strong near term growth solid dividend yield and carry a favourable Zacks Rank Taking into account these factors we present five such stocks for investors to consider Each of these stocks carry a Zacks Rank 2 Buy You can see Verizon Communications Inc NYSE VZ Headquartered in New York the company is one of the leading communication technology companies globally Further it is the largest U S telecom operator offering all kinds of wireless and wireline services Verizon has a long term three five years EPS earnings per share growth estimate of 5 41 and a dividend yield of 4 73 Telecom Argentina S A NYSE TEO Headquartered in Buenos Aires the company holds a license to provide basic telephone service and fixes telecommunications links in the northern region of Argentina Telecom Argentina has a long term three five years EPS growth estimate of 12 84 and a dividend yield of 3 42 Mobile TeleSystems OJSC NYSE MBT Headquartered in Moscow the company provides telecommunication services in Russia Ukraine Turkmenistan and Armenia It offers voice and data transmission Internet access pay TV and various value added services through wireless and fixed lines It also sells equipment accessories and handsets It has a long term three five years EPS growth estimate of 10 72 and a dividend yield of 6 27 TIM Participacoes S A NYSE TSU Headquartered in Rio de Janeiro the company is the sole company in Brazil to offer mobile cellular service nationwide through its subsidiaries TIM Celular S A and TIM Nordeste S A The company is the largest GSM Global System for Mobile communications operator of Brazil in terms of clients and revenues It has a long term three five years EPS growth estimate of 23 50 and a dividend yield of 0 75 Turkcell Iletisim Hizmetleri A S NYSE TKC Headquartered in Istanbul the company is the largest provider of mobile communications services in Turkey It has a dividend yield of 7 91 Chart Looks AttractiveThe chart below shows all five stocks witnessed positive movement in share price in the last three months
Bottom LineThe U S stock market is going through turmoil This phase is likely to continue in the near term At this stage we believe that these five stocks with a favourable Zacks Rank high dividend yield and significant growth potential are poised to capitalize on growing opportunities The Hottest Tech Mega Trend of AllLast year it generated 8 billion in global revenues By 2020 it s predicted to blast through the roof to 47 billion Famed investor Mark Cuban says it will produce the world s first trillionaires but that should still leave plenty of money for regular investors who make the right trades early |
VZ | The Zacks Analyst Blog Highlights Verizon Communications Telecom Argentina Mobile TeleSystems TIM Participacoes And Turkcell Iletisim Hizmetleri | For Immediate ReleaseChicago IL Feb 14 2018 Zacks com announces the list of stocks featured in the Analyst Blog Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets Stocks recently featured in the blog include Verizon Communications Inc NYSE VZ Telecom Argentina S A NYSE TEO Mobile TeleSystems OJSC NYSE MBT TIM Participacoes S A NYSE TSU and Turkcell Iletisim Hizmetleri A S NYSE TKC Today Zacks is promoting its Buy stock recommendations Here are highlights from Tuesday s Analyst Blog Buy These 5 Telcos to Cushion Against Market TurmoilAfter an exponential rise throughout 2017 the U S stock markets have been witnessing turmoil in the last couple of weeks There is widespread panic in Wall Street with all the major indices officially entering the correction territory that has extinguished the nearly nine year bull run As of now there is no clear cut opinion about recent market volatility whether this is only a healthy correction or the beginning of what could become a full fledged bear market Whatever be the reason investors should be prepared to minimize fluctuations in their portfolio and consequently should rebalance it with suitable financial assets to maintain stability At this juncture we believe telecom stocks may become important instruments for portfolio stabilization Why Telecom Stocks The need to remain connected is a human need An era of digitization and technology is essentially built on this human need It is here that telecommunications come to the fore as a necessary utility The need for telecommunications in both rural and urban areas as well as its role in the infrastructural development of an economy is of vital importance Telecom is one of the few industries to have seen rapid technological improvement even during recession A growing economy speeds up the demand for real time voice data and video manifold The escalation in demand has encouraged telecom service providers to undertake large network extensions while upgrading plans The rising demand for technologically superior products has been a silver lining for the telecommunication industry in an otherwise tough environment This in turn has given a boost to the demand for telecom infrastructure developers particularly wireless equipment manufacturers Major PositivesSeveral positives emerged for the telecom industry since the last quarter of 2017 President Donald Trump s proposed policy changes have made the overall economic outlook fairly bullish The two pro growth agendas of Trump namely significant cut in corporate tax and deregulation are major catalysts to the U S economy Trump has stated that he wants to do away with nearly 75 of all governmental regulations during his term as President We believe that the telecom industry will be one of the major beneficiaries of this policy change On Dec 14 2017 in a landmark decision the U S telecom regulator Federal Communications Commission FCC repealed the Net Neutrality laws that it had imposed under the Obama regime There is little doubt that the ISP industry will be the major beneficiary after FCC dismantling Net Neutrality The current FCC s less restrictive regulatory attitude may also pave the way for new merger and acquisition deals between ISPs and online digital media companies The proposal to reduce corporate tax rate from 35 to 21 faced by telecom carriers would be immediately accretive to cash flow Trump s tax proposal will result in a huge windfall for telecom operators The carriers can utilize this money for 5G network R D and deployment The telecom industry is highly capital intensive in nature Therefore the immediate expensing of investment in all tangible intangible and real property other than land would significantly benefit telecom carriers This would encourage telecom operators to increase investment for capital expenditure Major proposals such as a pledge to spend 1 trillion in infrastructure projects over a period of 10 years along with the above mentioned policy changes are likely to spur higher consumer spending Upcoming 5G Wireless Network5G Fifth generation superfast wireless networks will provide the primary impetus to the telecom industry In 2018 we expect 5G wireless network to be a game changer in the telecom space with a full fledged deployment in 2020 Per a report by research firm iGR U S telecom operators will spend around 104 billion between 2015 and 2025 to upgrade existing 4G networks to the upcoming 5G standards and thereafter execute full installation of 5G wireless services We expect wireless networks to provide the primary impetus to the telecom industry In this regard Internet of Things IoT has the potential to emerge the numero uno factor for future growth in the space According to a report by research firm International Data Corporation IDC worldwide spending on IoT will grow at 19 2 compound annual growth rate to nearly 1 7 trillion in 2020 from 698 6 billion in 2015 High Dividend YieldsOne of the easiest ways for any company to raise its shareholders wealth is to hike dividend rate Telecom companies offer one of the highest dividend yields in the U S economy Typically well established profitable companies pay dividends Investors seeking income producing dividends stocks are well served by growth and income oriented companies i e companies with stable earnings growth that pay a solid dividend Unlike other industries U S telecom operators generate revenues predominantly in the country This makes these stocks less susceptible to volatility in the foreign exchange rate as well as macro economic fluctuations plaguing the rest of the world As the U S economy is growing steadily supported by strong data of various macro indicators many of these large companies are likely to generate massive cash but because of their size may not have growth opportunities they once had For that reason high dividend yielding companies will be attractive for investors Our PickAs a predominantly defensive industry we believe telecom stocks will be beneficiaries when the market is in doldrums Significant tax relief together with the strong underlying policy of ensuring that Americans have access to high speed mobile broadband in rural and urban areas alike should help large telecom operators going forward Substantial government expenditures including those on U S broadband infrastructure development program and similar structural subsidies in China and India have been a boon to telecom service providers At this stage we believe investors should choose stocks which promise strong near term growth solid dividend yield and carry a favourable Zacks Rank Taking into account these factors we present five such stocks for investors to consider Each of these stocks carry a Zacks Rank 2 Buy You can see Verizon Communications Inc Headquartered in New York the company is one of the leading communication technology companies globally Further it is the largest U S telecom operator offering all kinds of wireless and wireline services Verizon has a long term three five years EPS earnings per share growth estimate of 5 41 and a dividend yield of 4 73 Telecom Argentina S A Headquartered in Buenos Aires the company holds a license to provide basic telephone service and fixes telecommunications links in the northern region of Argentina Telecom Argentina has a long term three five years EPS growth estimate of 12 84 and a dividend yield of 3 42 Mobile TeleSystems OJSC Headquartered in Moscow the company provides telecommunication services in Russia Ukraine Turkmenistan and Armenia It offers voice and data transmission Internet access pay TV and various value added services through wireless and fixed lines It also sells equipment accessories and handsets It has a long term three five years EPS growth estimate of 10 72 and a dividend yield of 6 27 TIM Participacoes S A Headquartered in Rio de Janeiro the company is the sole company in Brazil to offer mobile cellular service nationwide through its subsidiaries TIM Celular S A and TIM Nordeste S A The company is the largest GSM Global System for Mobile communications operator of Brazil in terms of clients and revenues It has a long term three five years EPS growth estimate of 23 50 and a dividend yield of 0 75 Turkcell Iletisim Hizmetleri A S Headquartered in Istanbul the company is the largest provider of mobile communications services in Turkey It has a dividend yield of 7 91 Today Zacks is promoting its Buy stock recommendations About Zacks Equity ResearchZacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long term Continuous coverage is provided for a universe of 1 150 publicly traded stocks Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance Recommendations and target prices are six month time horizons Strong Stocks that Should Be in the NewsMany are little publicized and fly under the Wall Street radar They re virtually unknown to the general public Yet today s 220 Zacks Rank 1 Strong Buys were generated by the stock picking system that has nearly tripled the market from 1988 through 2015 Its average gain has been a stellar 26 per year Follow us on Twitter Join us on Facebook NASDAQ FB Zacks Investment Research is under common control with affiliated entities including a broker dealer and an investment adviser which may engage in transactions involving the foregoing securities for the clients of such affiliates Media ContactZacks Investment Research800 767 3771 ext 9339Past performance is no guarantee of future results Inherent in any investment is the potential for loss This material is being provided for informational purposes only and nothing herein constitutes investment legal accounting or tax advice or a recommendation to buy sell or hold a security No recommendation or advice is being given as to whether any investment is suitable for a particular investor It should not be assumed that any investments in securities companies sectors or markets identified and described were or will be profitable All information is current as of the date of herein and is subject to change without notice Any views or opinions expressed may not reflect those of the firm as a whole Zacks Investment Research does not engage in investment banking market making or asset management activities of any securities These returns are from hypothetical portfolios consisting of stocks with Zacks Rank 1 that were rebalanced monthly with zero transaction costs These are not the returns of actual portfolios of stocks The S P 500 is an unmanaged index Visit for information about the performance numbers displayed in this press release |
VZ | U S National Carriers Key Takeaways From Q4 Earnings | The fourth quarter of 2017 earnings season is drawing to an end for the telecommunications segment With results from four national telecom carriers Verizon Communications Inc NYSE VZ AT T Inc NYSE T T Mobile US Inc NYSE T and Sprint Corp NYSE S already on board a study of their key financial and operating metrics will be interesting Services RevenuesExcept T Mobile US the other three companies wireless services revenues declined year over year in the reported quarter This can primarily be attributed to adoption of several unlimited data plans by Verizon AT T and Sprint in order to counter T Mobile US data plans Moreover Verizon and T Mobile US wireless service revenues improved sequentially while AT T and Sprint failed to follow suit T Mobile US Un Carrier service which was launched in March 2013 to offer a series of price concessions such as no annual service contract equipment instalment facility free international data roaming helped the company gain a strong foothold Offers such as unlimited data download and international roaming facility along with no annual service contract garnered significant market traction In the wireline front Verizon s services revenues increased year over year However services revenues decreased for both AT T and Sprint Verizon stated that extensive deployment of fiber network is going to raise wireline revenues in the future We expect the same for AT T and Sprint MarginsFor the wireless segment adjusted EBITDA margins improved on a year over year basis for both Verizon and Sprint impressively For Verizon and Sprint it increased from 36 9 to 39 8 and 40 3 to a significant 49 1 respectively However for AT T operating margin for domestic wireless operation decreased from 35 7 to 32 7 For T Mobile US adjusted EBITDA also declined a percentage point from 36 to 35 Subscribers AdditionAlthough all the four telecom operators added postpaid wireless customers in the reported quarter a closer look gives us a more interesting picture Notably postpaid customers are those who are billed monthly and considered more profitable to telecom operators Verizon added 1 174 000 up a whopping 98 6 year over year retail postpaid customers but lost 189 000 compared with a loss of 9 000 in the year ago quarter retail prepaid customers Importantly net phone additions of 431 000 included 647 000 smartphones compared with 456 000 smartphone additions in fourth quarter 2016 Meanwhile AT T s domestic mobile operation added a net 541 000 up a little over 4 postpaid connections and 140 000 down 65 5 prepaid connections It is to be noted AT T lost 147 000 satellite TV customers and 60 000 U verse TV customers However it gained 368 000 DIRECTV NOW connections Sprint added a net 256 000 down 36 8 postpaid subscribers and 63 000 prepaid customers against a loss of 460 000 prepaid customers in the prior year quarter However postpaid phone net addition was 184 000 down 50 year over year T Mobile US added a net 891 000 down 4 5 year over year postpaid phone customers 181 000 down 31 4 postpaid mobile broadband customers and 149 000 down 72 5 prepaid customers Churn Rate and ARPUVerizon AT T and T Mobile US improved postpaid churn rate However the postpaid churn rate worsened year over year for Sprint The postpaid churn rate improved from 1 10 to 1 00 for Verizon 1 16 to 1 12 for AT T and 1 28 to 1 18 for T Mobile US
Meanwhile for Sprint it worsened from 1 67 to 1 80 Importantly for the national wireless carriers average revenue per user ARPU has declined This was primarily driven by adoption of unlimited data plans offering a lot of services free of cost Consolidated ChartWe have taken a consolidate chart of these four stocks for last three months to show how investor sentiments have changed from just before the announcement of earnings results to date The chart shows that Verizon AT T and T Mobile US have gained 11 9 7 1 and 2 2 respectively while Sprint has lost 12 8
Will the Momentum Continue in 2018 All four national wireless carriers have gained substantial subscribers in the fourth quarter of 2017 We believe this trend will continue in 2018 as the industry is moving toward a transition from 4G to 5G standard for which initial deployment will start this year
Robust U S macro economy and growth induced policies taken by the Trump administration are other positives Moreover wireless operators are quickly moving toward digital media platform offering online TV streaming services resulting in innovative product differentiation on the part of wireless carriers Our View and Zacks RankAfter taking a closer look at the fourth quarter results we can deduce that T Mobile US and Verizon have done reasonably well with respect to important financial and operating metrics Although Sprint s subscriber metrics improved it missed on revenues Moreover the company is still reeling under loss Notably AT T has also performed well after its lukewarm performance in the previous quarter Our view is also established while considering the Zacks Rank Verizon and T Mobile US sports a Zacks Rank 2 Buy while AT T and Sprint carries a Zacks Rank 3 Hold You can see Don t Even Think About Buying Bitcoin Until You Read ThisThe most popular cryptocurrency skyrocketed last year giving some investors the chance to bank 20X returns or even more Those gains however came with serious volatility and risk Bitcoin sank 25 or more 3 times in 2017 Zacks has just released a new Special Report to help readers capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly |
VZ | Verizon launches cheaper unlimited plan to compete with rivals | By Anjali Athavaley NEW YORK Reuters Verizon Communications Inc NYSE VZ said on Tuesday that it was introducing a cheaper unlimited mobile data plan with some limits as it tries to lure customers away from rival wireless carriers The plan to be introduced on Wednesday is priced at 75 a month for a single line and will include DVD quality video streaming on smartphones rather than high definition It allows Verizon to slow down consumers data speeds in times of congestion and does not include calling and data in Mexico and Canada It also has slower mobile hotspot speeds of 600 kilobits per second While entry level pricing appears more competitive the changes more likely reflect the impact current plans are having on Verizon s network Mike McCormack an analyst at Jefferies said in a note The move also follows a trend of differentiating unlimited plans to manage congestion and monetize the network Verizon has been competing for customers with smaller rivals T Mobile US Inc and Sprint Corp in a saturated U S market for wireless service as most consumers already have cell phones Other carriers have been launching aggressive promotions in recent months Sprint said in June it was offering free unlimited data talk and text for a year to consumers who bring their own devices in a promotion aimed at Verizon subscribers Verizon s new cheaper plan is aimed at casual smartphone users versus customers who want to stream a lot of video a Verizon spokeswoman said The company also is introducing a higher end unlimited data plan for 85 a month for a single line that includes HD quality streaming on phones and calling texting and data in Mexico and Canada and mobile hotspot with up to 15 gigabytes of LTE speeds The options will replace Verizon s previous unlimited data plan launched in February for 80 a month for a single line
Verizon shares were down 4 cents to 48 10 in morning trading |
VZ | Verizon launching cheaper plan to draw casual smartphone users | Verizon s VZ 0 2 making the latest move in the unlimited phone plan war of attrition rolling out a cheaper plan to draw subscribers from rivals The plan it s introducing tomorrow costs 75 month and is par for the course for unlimited plans nowadays with no overage charges for data amounts but capped at DVD quality video streaming rather than HD the ability to have speed throttled at times of congestion and a slower mobile hotspot speed 600 kbps The plan also doesn t include calling data in Mexico and Canada It s intended for more casual smartphone users vs the heavy video streamer Verizon says Verizon s also introducing an 85 month plan with HD streaming mobile hotspot with up to 15 GB of LTE speeds and calls text and data in Mexico and Canada Now read |
VZ | Armstrong Verizon will create resurgence in Oath media brands | Despite recent struggles in the brand names of AOL and Yahoo NASDAQ AABA owner Verizon VZ 1 3 isn t giving up on either of them says the man in charge of them Tim Armstrong In a Wall Street Journal interview Armstrong in charge of Oath the entity overseeing those two names and their several dozen media brands says he plans to oversee a resurgence of the brands The first thing I say is thank God you don t see the opportunity because if you can see it everyone else can and it is no longer an opportunity he says The second thing I say is that a billion consumers can t be wrong By combining business operations despite separate brand management Oath will be able to target ads more specifically using data from 114M wireless consumers he says He s also looking to a future that s not just converged but perhaps hyper converged There used to be company consolidations but now we re going into industry consolidations he notes with media Internet cable telecom and device sectors tied together like never before Now read |
CSCO | Day Ahead Top 3 Things to Watch | Investing com Here s a preview of the top three things that could rock markets tomorrow
1 Jerome Powell Testimony in Focus
Federal Reserve Chairman Jerome Powell delivers remarks on U S economic outlook before the Joint Economic Committee on Wednesday at 11 00 AM ET 16 00 GMT
The Fed s chairman s speech comes just two weeks after the U S central bank cut its key rate for a third time this year And the Fed signaled it would hold rates steady for the remainder of the year
Powell told reporters at his post meeting news conference on Oct 30 that the current stance of monetary policy was likely to remain appropriate as long as there was no material change in the central bank s outlook on the economy
Fresh guidance on monetary policy however may likely be limited as Powell is unlikely to have materially altered his thinking since the statement and press conference Nomura said in note to clients
Ahead of Powell s testimony President Donald Trump again criticized the Fed At his appearance before the New York Economic Club the president charged the central bank s previous round of rate hikes had put the economy at a disadvantage and that he longed for negative interest rates
Investing com s Fed Rate Monitor Tool forecasts almost no chance of a change in the Fed s federal funds rate now at 1 5 to 1 75 at its December meeting and no real chance or a rate cut before next spring
2 Inflation Data Due
Ahead of Powell s speech market participants will look ahead to the release of consumer inflation data due at 8 30 AM ET 13 30 GMT
Economists forecast overall inflation measured by the consumer price index in October climbed 0 3 from 0 1 in September while the core CPI which excludes volatile food and energy prices rose 0 2 from 0 1 a month earlier
Year over year CPI growth is seen staying at 1 7 with core CPI edging up to 2 4
3 Cisco Earnings in Focus
Cisco Systems NASDAQ CSCO reports fiscal first quarter results after the closing bell Wednesday against a challenging backdrop that includes concerns that weakness in the global economy and softening cloud demand may weigh on performance
Cisco said it expected the fiscal first quarter would represent the slowest rate of revenue and earnings per share growth since late 2017
Sentiment ahead of Cisco s earnings has soured somewhat after the company s rival Arista Networks NYSE ANET warned about softening cloud demand
For its fiscal first quarter ended Oct 31 Cisco NASDAQ CSCO has guided revenue growth in the range of 0 to 2 with earnings in a range of 80 to 82 cents
Cisco is expected to report earnings of 81 cents per share on revenue of 13 07 billion according to consensus estimates from Investing com A year ago the Dow component reported 76 cents a share in earnings on revenue of 13 07 billion
Cisco NASDAQ CSCO shares were up 0 6 on Tuesday and are up 11 6 on the year 17th among the 30 Dow stocks |
CSCO | Top 5 Things to Know in the Market on Wednesday | Investing com U S Federal Reserve Chairman Jerome Powell will testify in Congress against a background of renewed trade uncertainty after U S President Donald Trump dampened hopes for a breakthrough in the U S China trade war Meanwhile the first public hearings in Trump s impeachment inquiry get underway and investors will get the latest U S inflation figures and a look at U S oil stockpiles after the International Energy Agency said it expects global oil demand growth to slow from 2025 Here s what you need to know in financial markets on Wednesday 13th November
Powell testimony
Powell is set to testify on the economic outlook before the Congressional Joint Economic Committee in a hearing starting at 11 00 AM ET 16 00 GMT He is expected to reiterate that monetary policy is on pause for the remainder of 2019 following three consecutive rate cuts this year aimed at offsetting the effects of the global growth slowdown brought on by the U S China trade war
Powell s testimony comes a day after Trump said a trade deal with China was close but threatened to substantially increase tariffs if no deal was reached He also took a swipe at European Union trade policies rattling investors who were expecting some breakthrough or even some new signal on trade
Trump also repeated his criticism of the Fed blaming it for the slowdown in the economy and for failing to cut interest rates deeply enough
Public hearings in Trump impeachment inquiry get underway
Ahead of Powell s testimony the House of Representatives will convene the first public hearings in Trump s impeachment inquiry at 10 00 AM ET 15 00 GMT They will be the first impeachment hearings to be held in public in 20 years
The probe centers on whether Trump pressured Ukraine to investigate Democratic presidential contender Joe Biden and his son Hunter Biden and any reaction by the president could be significant
U S futures indicate lower open Cisco earnings due
U S stock market futures pointed to a lower open with Dow futures shedding more than 100 points while S P 500 futures and Nasdaq 100 futures were also down amid trade war jitters
European shares retreated from four year highs earlier while concerns that intensifying unrest in Hong Kong could prompt a Chinese crackdown pushed Hong Kong shares 2 lower overnight and weighed on markets across Asia
Cisco Systems NASDAQ CSCO reports fiscal first quarter results after the closing bell Wednesday against a challenging backdrop that includes concerns that weakness in the global economy and softening cloud demand may weigh on performance Other reports on Wednesday include Hewlett Packard Enterprise NYSE HPE and Foxconn TW 2354
U S inflation data due
U S inflation data for October is due at 8 30 AM ET 13 30 GMT with economists expecting the consumer price index to rise 0 3 up from 0 1 in September while the core CPI which excludes volatile food and energy prices is forecast to rise 0 2 from 0 1 a month earlier
Year over year CPI growth is seen staying at 1 7 with core CPI edging up to 2 4
In the U K data earlier showed that inflation fell to its lowest level in nearly three years last month amid a cap on energy prices At 1 5 inflation has now moved further below the Bank of England s 2 target which could increase the likelihood of interest rate cuts
In the Eurozone data showed that industrial production increased by 0 1 in September It was the second consecutive month of expansion indicating that a downturn in the bloc may be moderating
Global oil demand expected to slow from 2025 IEA says
Global oil demand growth is expected to slow from 2025 as fuel efficiency improves and the use of electrified vehicles increases but is unlikely to peak in the next two decades the International Energy Agency IEA said on Wednesday
The Paris based IEA which advises Western governments on energy policy said in its annual World Energy Outlook for the period to 2040 that demand growth would continue to increase even though there would be a marked slowdown in the 2030s
The American Petroleum Institute was to release its weekly report on oil inventories later Wednesday a day later than usual because of Monday s Veterans Day holiday
Reuters contributed to this report |
CSCO | Cisco Falls Postmarket as Soft Guidance Offsets Earnings Beat | Investing com Cisco NASDAQ CSCO reported guidance that missed Wall Street estimates Wednesday which overshadowed fiscal first quarter results that topped forecasts amid a challenging macroeconomic backdrop
For its fiscal second quarter the company guided earnings in the range of 0 75 to 0 77 below estimates for second quarter earnings of 0 79 from S P Capital IQ Revenue is expected to decline by 3 to 5 year on year
The company reported earnings per share EPS of 0 84 on revenue of 13 16 billion Analysts polled by Investing com expected EPS of 0 81 on revenue of 13 07 billion That compared to EPS of 0 75 on revenue of 13 07 billion in the same period a year earlier The company had reported EPS of 0 83 on revenue of 13 43 billion in the previous quarter
By segment infrastructure platforms generated 7 54 billion down 1 annually applications came in at 1 50 billion a 6 increase security was reported at 815 million a 22 jump and other products generated 26 million down 85 Services were reported at 3 2 billion up 3
Cisco shares lost 6 09 to trade at 45 50 in after hours trade following the report |
WMB | Pipeline fights move from Dakota prairie to Louisiana bayous | By Liz Hampton HENDERSON Louisiana Reuters When Hope Rosinski s father gave her a six acre plot in Louisiana more than a decade ago she was surprised to find oil and gas pipelines crisscrossing the property Pipeline companies later secured her permission for two more lines one of which has since caused flooding and consistently leaves her land saturated Now she s had enough Rosinski is fighting the latest request for a right of way this time from Energy Transfer Partners the company behind the controversial Dakota Access Pipeline She said ETP declined to make contract changes she wanted or to properly compensate her for lost property value Opposition to the company s planned extension of the Bayou Bridge pipeline has made Louisiana bayous the latest battleground in a nationwide war against new pipeline construction The pushback here is one example of the increasingly broad and diverse base of opposition nationally which now extends beyond traditional environmental activists In Louisiana opponents include flood protection advocates commercial fishermen and property owners such as Rosinski Their fight follows high profile protests in North Dakota that were led by Native Americans and joined by military veterans who together succeeded in convincing the Obama administration to delay construction Although the new administration of President Donald Trump has since cleared that project s completion pipeline companies are nonetheless taking the rising political opposition seriously Alan Armstrong chief executive at pipeline firm Williams Companies NYSE WMB told a conference in Pittsburgh that Trump s action would not hamper the protest movement It may even enhance it he said the day after Trump cleared the Dakota pipeline in January Pipeline supporters argue that more infrastructure is essential for the oil and gas industry to provide affordable energy and reduce dependence on foreign imports and dirtier energy sources such as coal Opponents counter that pipeline companies can t be trusted to prevent leaks Technology designed to detect spills only accomplished that goal in 20 percent of known pipeline leaks between 2010 and 2016 according to a Reuters analysis of data from the U S Pipeline and Hazardous Materials Safety Administration Energy Transfer and its affiliates had among the most spills of any pipeline company with nearly 260 leaks from lines carrying hazardous liquids since 2010 according to the Reuters analysis An ETP spokesperson said most of those spills were small and occurred on company property The company said in a statement that it seeks to work with landowners and communities to build the pipeline in the safest most environmentally friendly manner possible ETP s relations with Rosinski however have apparently broken down She told Reuters that the firm has threatened to take her to court for the right of way citing legal rights of pipeline companies to build infrastructure for broader public benefit Rosinski wants to resist but knows a court battle could be costly and lengthy I m a single mom she said I don t have the finances ETP declined to comment specifically on Rosinski s case but said it typically gets voluntary agreements on easements from owners in about 9 out of 10 cases without legal action NOT IN MY BACKYARD Some pipeline protesters are driven by opposition to any expansion of fossil fuel development but many have more local and specific concerns Many protests so far including the encampment in North Dakota led by the Standing Rock Sioux tribe have focused largely on fear of water contamination Similar objections have cropped up in West Texas from protesters of Energy Transfer s Trans Pecos gas line and in Arkansas and Tennessee over the Diamond Pipeline operated by Plains All American Pipeline Activists in Pennsylvania have been fighting a Williams Companies pipeline plan for three years The company is looking to add 185 miles of new pipeline to its Atlantic Sunrise line connecting the northeastern Marcellus natural gas shale region with the southeast part of the state Opponents have argued the expansion could cause an explosion or taint the local water that supplies farms They re borrowing tactics from Standing Rock tribe s standoff Malinda Clatterbuck 46 of Lancaster Pennsylvania who leads the group Lancaster Against Pipelines said residents are setting up a camp in Conestoga where a right of way has been granted and plans to live on and off at the camp with her family I m exhausted and angry about this she said Why do we have to upend our lives just to try to get justice for our community Williams said it has operated 60 miles of pipeline safely in Lancaster County and that the company plans to exceed federal safety standards for the extension We ve also heard from thousands of people who support the project individuals chambers and business groups who recognize the economic benefit the company said in a statement DEAD CRAWFISH IN THE BAYOUS In Louisiana home to massive oil refineries and about 50 000 miles of pipelines ETP s planned Bayou Bridge extension would run across southern Louisiana for about 160 miles between Lake Charles and St James The state has a mutually beneficial but testy relationship with the oil industry which is widely blamed for cutting through wetlands and contributing to coastal erosion that has left Louisiana more vulnerable to hurricanes and flooding Some opponents of the Bayou Bridge are concerned that its construction will pollute drinking water and constrict drainage systems during heavy rains Others want to see pipeline companies take better care of the environment during and after construction Jody Meche 47 of Henderson fears economic damage He has fished in the Atchafalaya Basin for a quarter century For years he has been pushing companies to remove spoil banks caused by pipeline construction and oil exploration because they hurt the commercial fishing industry The spoil banks act as dams inside the basin damaging the local ecosystem by stopping water flow Meche can sees the impact in the crawfish traps he pulls up from the bayou daily during the season from February to early summer The critters resemble tiny lobsters and are in high demand at bars and backyard boils from New Orleans to Houston The stagnant water is not good for them at all Meche said They don t grow as well they don t eat as much they are very lethargic Meche can sell large healthy crawfish for about 1 50 a pound But the smaller ones he often catches these days fetch half that and many in his traps these days are dead and worthless CONTRACT DISPUTE Rosinski meanwhile is still fighting with Enterprise Products Partners the pipeline company she said damaged her property during construction of an ethane line a few years ago She said she has spent the last year trying to get Enterprise to restore her land and stop the flooding The cost to fix it could be as little as 1 200 she said Enterprise told Reuters it hopes to resolve the issue amicably but that it has not gotten clear guidance from an attorney hired by Rosinski Rosinski received the right of way request from Energy Transfer Partners as she was squabbling with Enterprise She suggested 30 changes to the contract and requested more compensation ETP refused she said and told her it may take up the dispute in court
I ve done my part she said of her previous agreements to allow pipelines through her property They re consuming my land |
WMB | Pipeline companies rebel against Trump s Buy American rule | Pipeline companies and their trade groups are pushing back against Pres Trump s directive requiring them to use American steel and iron in their projects arguing that the change would raise costs and disrupt operations Energy Transfers Partners NYSE ETP tells the Commerce Department that requirements to use domestic steel for its pipelines would severely delay project schedules drive up costs decrease availability and lower quality Williams Cos NYSE WMB says any sort of requirement to use U S sourced steel or pipeline materials manufactured in the United States has the potential to cancel or delay projects also WMB already has purchased more than 1M ft of pipe in storage for its Atlantic Sunrise project and nearly 500K ft for the Constitution pipeline There are very few and in some cases zero U S companies that make steel for the parts required by large pipelines so companies must buy overseas says the American Petroleum Institute Trump has promised to break unleash energy companies from regulation and protect steel from unfair competition but analysts say market forces may force him to make a choice ETFs XLE VDE ERX OIH ERY DIG DUG BGR IYE FENY FIF PXJ RYE DDG FXN CRAK Now read E P Bottom Of The Barrel Club 17 2 Mayday Mayday |
VZ | Comcast CMCSA Beats Earnings Revenue Estimates In Q4 | Comcast Corporation NASDAQ CMCSA reported impressive financial results in the fourth quarter of 2017 Both the top and the bottom line surpassed the Zacks Consensus Estimate
Comcast carries a Zacks Rank 3 Hold You can see
Net Income
GAAP net income was 15 035 million compared with 2 417 million in the prior year quarter Quarterly adjusted earnings per share of 49 cents beat the Zacks Consensus Estimate of 47 cents Comcast Corporation Price Consensus and EPS Surprise
Revenue
Total revenues were 21 915 million up 4 2 year over year and outperformed the Zacks Consensus Estimate of 21 804 million
Operating Metrics
Operating income was 4 107 million compared with 4 264 million in the year ago quarter Adjusted EBITDA was 6 751 million down 0 1 year over year
Cash Flow and Liquidity
In fourth quarter 2017 Comcast generated 5 442 million of cash from operations compared with 5 836 million in the year ago quarter Free cash flow was 2 048 million compared with 2 607 million in the year ago quarter
As of Dec 31 2017 cash and cash equivalents were 3 428 million up from 3 301 million at the end of 2016 Total debt was 59 422 million compared with 55 566 million at the end of 2016
Dividend Hike and Share Repurchase Program
During the quarter under review Comcast paid dividends of 736 million and repurchased 32 4 million common shares for 1 2 billion For the full year the company made four cash dividend payments of 2 9 billion and repurchased 130 9 million of its common shares for 5 0 billion resulting in a total of 7 9 billion capital return to shareholders
As of Dec 31 2017 Comcast had 7 0 billion available under its share repurchase authorization It expects to repurchase at least 5 0 billion of its Class A common stock during 2018 which is subject to market conditions
Additionally Comcast announced that it has increased dividend by 21 to 76 cents per share on an annualized basis Accordingly the board of directors declared a quarterly cash dividend of 19 cents on the company s common stock The dividend will be paid on Apr 25 2018 to shareholders of record as of Apr 4 2018
Cable Communications Segment
Total revenues were 13 282 million up 3 4 on a year over year basis Video revenues were 5 733 million increasing 1 5 from the prior year quarter High Speed Internet revenues totaled 3 775 million up 8 4 year over year Voice revenues were 832 million down 4 6 year over year
Advertising revenues totaled 629 million declining 12 4 from the year ago quarter Business Services revenues were 1 620 million increasing 12 2 year over year Other revenues were 693 million up 2 3 from the prior year quarter
Adjusted EBITDA was 5 406 million increasing 4 2 year over year Adjusted EBITDA margin increased to 40 7 from 40 4 in the year ago quarter
As of Dec 31 2017 Comcast had 25 869 million up 4 7 year over year high speed Internet customers 11 552 million down 1 2 year over year voice customers 22 357 million down 0 7 year over year video customers and 1 131 million up 26 8 year over year security and automation customers
The company gained a net of 350 000 high speed Internet customers and 52 000 security and automation customers but lost 13 000 voice customers and 33 000 video customers in the reported quarter Comcast gained 73 000 double play subscribers and 140 000 single play subscribers but lost 3 000 triple and quad product customers
NBC Universal Segment
Total revenues in this segment were 8 784 million up 3 9 year over year Cable Networks revenues were 2 691 million up 7 5 year over year Broadcast TV revenues came in at 2 964 million rallying 4 1 year over year Filmed Entertainment revenues were 1 738 million declining 5 2 from the year ago quarter Theme Parks revenues were 1 461 million increasing 8 7 year over year
Adjusted EBITDA was 1 883 million reflecting an increase of 6 4 year over year
Latest Developments
Comcast initiated the nationwide rollout of the DOCSIS 3 1 technology with its latest xFi Advanced Gateway Further the company completed the nationwide rollout of its wireless services under the Xfinity Mobile brand with plans to include YouTube in its X1 video platform Notably Comcast is entering into the highly competitive U S wireless market to compete with big players like Verizon Communications Inc NYSE VZ AT T Inc NYSE T T Mobile US Inc NYSE T and Sprint
Business Services have been witnessing strong momentum and continue to present attractive prospects Comcast has started deploying fiber based 2 gigabits per second 2 Gbps residential broadband Internet services in certain regions Comcast is venturing into residential solar programs with a 40 month deal with Sunrun
The company is working toward 5G network deployment and continues to expand its theme park business With this Comcast aims to check customer churn and provide viewers with more streaming options
Despite such efforts the company continues to suffer from video subscriber losses due to cord cutting
The Hottest Tech Mega Trend of All
Last year it generated 8 billion in global revenues By 2020 it s predicted to blast through the roof to 47 billion Famed investor Mark Cuban says it will produce the world s first trillionaires but that should still leave plenty of money for regular investors who make the right trades early |
VZ | Verizon to take on AT T in fight for first responders | Verizon VZ 0 6 is looking to take on AT T T 0 9 and its 6 5B FirstNet network for first responders building its own dedicated portions of its wireless network to devote to public safety
We re serious about remaining extremely relevant in this space says Verizon adding that it controls about two thirds of the market for public safety police fire EMS and other first responders
As with the federal FirstNet Verizon says that the dedicated lanes would be separate from commercial traffic and would get priority at times of network congestion That priority access would be free of charge it said and the private network core would be ready next year
AT T received valuable airwaves in winning the federal bid but individual states are considering whether to join the network or build their own
Now read |
VZ | Yahoo owes millions for busting NCAA tournament bracket deal court | By Jonathan Stempel Reuters Yahoo NASDAQ AABA Inc owes a prize promoter 5 5 million for backing out of a contract to pay 1 billion for predicting every winner in the 2014 NCAA men s basketball tournament and entering a similar contract with Quicken Loans Inc and Warren Buffett s Berkshire Hathaway Inc N BRKa a court decided on Monday The 5th U S Circuit Court of Appeals in New Orleans said SCA Promotions Inc was entitled to half of its 11 million contract with Yahoo as a cancellation penalty It rejected Yahoo s claim that Dallas based SCA improperly leaked the promotion to Buffett and Berkshire while trying to line up insurance coverage for the grand prize Berkshire is well known for insuring against potentially costly events with long odds such as picking a perfect March Madness bracket as the National Collegiate Athletic Association tournament is known Any information that SCA disclosed to Berkshire Hathaway was not confidential information Circuit Judge Edith Brown Clement wrote for a three judge panel Because SCA had kept Yahoo s 1 1 million deposit the appeals court on Monday awarded it another 4 4 million The decision reversed a lower court ruling ordering SCA to return 550 000 of the deposit to Yahoo It has been a long battle over what we thought was a simple contractual provision Jon Patton a lawyer for SCA said in an interview We re pleased the court of appeals got this right Verizon Communications Inc N VZ bought Yahoo s internet business in June and put it in a unit called Oath Charles Stewart an Oath spokesman said the unit does not discuss litigation Berkshire and Quicken announced their Billion Dollar Bracket Challenge three weeks after Yahoo and SCA signed their contract and Yahoo quickly agreed to co sponsor it No one won the top prize Berkshire now sponsors a bracket contest for its roughly 368 000 employees This year a West Virginia factory worker won 100 000 for correctly choosing winners of the tournament s first 29 games
The case is SCA Promotions Inc v Yahoo Inc 5th U S Circuit Court of Appeals No 15 11254 |
WMB | Williams Companies Q2 EPS estimated at 0 23 on revenue of 1 92 bn | Investing com Williams Companies NYSE WMB Q2 EPS estimated at 0 23 on revenue of 1 92 bn The U S energy infrastructure and transportation firm to report after market closes Monday Missed past two estimates as depressed energy commodity prices leave their mark Energy Transfer Equity failed merger to impact shareholders value Large quarterly dividend of 0 64 not seen sustainable due to high debt ratios |
WMB | Corvex s Meister proposes to replace Williams board | By Michael Erman and Michael Flaherty NEW YORK Reuters Keith Meister who runs hedge fund Corvex Management LP said on Monday that he planned to nominate candidates to replace pipeline company Williams Cos Inc s N WMB entire board Meister said his 10 nominees would all be Corvex employees who would be replaced by independent directors that the hedge fund recruits shortly after taking their positions This will provide a path for shareholders to take this company back from six unqualified independent directors Meister said in an interview on Monday Corvex is Williams fourth largest shareholder Meister said he had worked unsuccessfully to convince the company to adopt a plan to place a majority of new independent directors on the board by May 2018 He was also unhappy with reports that the company had not engaged with rival Enterprise Products Partners LP N EPD when the larger pipeline company approached Williams with a potential takeover bid earlier this summer Meister said he planned to release the names on his slate before Williams Thursday deadline for nominating directors The annual meeting will be held on Nov 23 In response to Meister s criticism Williams pointed to its previously announced plan to add three new independent directors who have yet to be named by the company Given the events of the last year it is unfortunate that Corvex intends to launch a distracting and costly proxy contest while Williams is moving forward with its plan to identify new highly qualified and independent directors the company said in a statement Williams said it had told Corvex that the board would consider the hedge fund s placeholder board plan Shares of Williams were down 2 cents at 27 66 in afternoon trading HIGHLY UNUSUAL Corvex and another top shareholder Soroban Capital Partners previously held board seats and have agitated for change at the company for years The two hedge funds were key proponents of Williams failed deal to be bought out by rival Energy Transfer Equity LP N ETE After the takeover collapsed in June nearly half of Williams board including Meister and Soroban s Eric Mandelblatt resigned following a failed attempt to oust Williams Chief Executive Officer Alan Armstrong Corvex s strategy is explained in part because of the deadline it faced between the time Meister stepped down from the board on June 30 and Thursday s nomination deadline to propose directors I have never heard of electing directors who will then resign said University of Delaware finance professor Charles Elson who follows corporate governance That is highly unusual A Delaware judge ruled in June that Energy Transfer could terminate its deal to buy Williams over tax issues The deal had been in doubt for months with Williams suing Energy Transfer accusing the company of breaching the terms of their merger in trying to back out Energy Transfer had become unhappy with the deal as oil s prolonged downturn put many of its and Williams customers major oil and gas producers in jeopardy driving down the value of both companies Since that deal fell apart Tulsa Oklahoma based Williams has laid out plans to move forward as a stand alone company while investing more than 1 5 billion in its master limited partnership Williams Partners LP N WPZ Williams and Williams Partners have taken steps to sell assets to reduce their debt loads Williams shares are up around 27 percent since the resignation of nearly half its board June 30 Dow Jones U S Pipeline index DJUSPL is up around 10 percent over the same period
Meister first announced his plans in an interview on CNBC on Monday |
VZ | What Does Q4 Earnings Hold For Comcast s CMCSA NBC Unit | Comcast Corp NASDAQ CMCSA is scheduled to release fourth quarter 2017 results on Jan 24 before the market opens The U S cable behemoth carries a Zacks Rank 3 Hold You can see Let s take a look at the company s NBC Universal segment as well as its operations and revenues NBC Universal Segment OperationsThe NBC Universal segment comprises programming and services of NBC Universal a leading media and entertainment company that develops produces and distributes entertainment news as well as information sports and other content to global audiences Its operating divisions are NBC Entertainment NBC Universal Hispanic Media Sports News Local Media Cable Entertainment Universal Filmed Entertainment Universal Parks Resorts International and NC Universal Universal Studios have been launched in Japan and Hollywood with resorts and other major attractions in Orlando NBC Universal Hispanic Media continues to produce and distribute high quality Spanish language content across a multiplatform portfolio to Hispanic audiences around the world Comcast continues to be focused on its theme park business with different acquisitions Notably over the last three to four years the theme park business yielded benefits for Comcast In third quarter of 2017 revenues from theme parks were 1 550 million up 7 7 year over year See more in To know more about Comcast s Cable Communications segment read RevenuesWe expect Comcast to see an improvement in revenues in the quarter to be reported The Zacks Consensus Estimate for fourth quarter 2017 revenues at NBC Universal Segment is pegged at 8 747 million The figure reflects an improvement over the 8 014 million and 8 451 million reported in third quarter 2017 and fourth quarter 2016 respectively Comcast Corporation Revenue TTM
Coming to the sub categories we notice a similar uptrend in estimates Cable Networks revenue estimate of 2 598 million is below 2 603 million reported in the last quarter Broadcast TV revenues came in at 2 921 million higher than 2 133 million and 2 848 million reported in third quarter 2017 and fourth quarter 2016 respectively Filmed Entertainment revenue estimate of 1 856 million is above 1 784 million and 1 834 million reported in third quarter 2017 and fourth quarter 2016 respectively Theme Parks revenues estimate of 1 442 million lags 1 550 million reported in the last quarter Price PerformanceComcast portrays an impressive price performance In the past three months shares of Comcast have rallied 16 3 compared with the s gain of 8 7 When compared with the market at large the stock looks good as the S P 500 index has risen 9 9 Latest DevelopmentsComcast is planning to strengthen its services to small and mid sized businesses SMBs leveraging on its wireless network The cable MSO multi service operator is rolling out a new product Connection Pro which will enable SMBs to keep their businesses running in case of a power failure or loss of web connectivity Further Comcast completed the nationwide rollout of wireless services under the Xfinity Mobile brand with plans to include YouTube in its X1 video platform Notably the company is entering into the highly competitive U S wireless market to compete with big players like Verizon Communications Inc NYSE VZ AT T Inc NYSE T T Mobile US Inc NYSE T and Sprint Moreover the company initiated the nationwide rollout of the DOCSIS 3 1 technology with the latest xFi Advanced Gateway The Hottest Tech Mega Trend of AllLast year it generated 8 billion in global revenues By 2020 it s predicted to blast through the roof to 47 billion Famed investor Mark Cuban says it will produce the world s first trillionaires but that should still leave plenty of money for regular investors who make the right trades early |
CSCO | Cisco Partners With SingularityNET on Decentralized Artificial Intelligence | Decentralized artificial intelligence AI firm SingularityNET and tech conglomerate Cisco NASDAQ CSCO have partnered to develop applied artificial general intelligence AGI technologies
AGI is one aspect of AI technology that concentrates on learning the intellectual tasks of which humans are capable Sometimes referred to as Strong AI AGI emphasizes a machine s ability to reason in uncertain situations solve puzzles plan and communicate in natural language |
CSCO | Cisco Falls 4 | Investing com Cisco NASDAQ CSCO fell by 4 05 to trade at 47 41 by 14 06 18 06 GMT on Tuesday on the NASDAQ exchange
The volume of Cisco shares traded since the start of the session was 13 21M Cisco has traded in a range of 47 40 to 49 85 on the day
The stock has traded at 50 2000 at its highest and 47 4100 at its lowest during the past seven days |
WMB | Some bond funds bet on longer lasting rally in energy debt | By Sam Forgione NEW YORK Reuters Many bond investors who benefited from the recent rally in battered energy debt prices are maintaining or seeking to add to their holdings viewing the rally as the start of a longer lasting uptrend rather than a blip Fund managers including MacKay Shields Thornburg Investment Management and BlueBay Asset Management said they had increased their positions or initiated new ones in recent months after energy bond prices cheapened in 2015 Most of these fund managers had less exposure to energy debt at the end of last year than the indexes they compare their funds against They said energy debt remained attractive even after the latest rally Many favored bonds of pipeline operators saying excessive pessimism has sunk their prices to distressed levels Bad things in energy are already priced in said Andrew Susser head of high yield at MacKay Shields in New York which oversees 89 billion in assets Midstream bonds seem awfully cheap he said The midstream oil and gas industry sector includes companies that transport product via pipelines U S crude CLc1 prices slid about 76 percent from June 20 2014 to 26 05 a barrel by Feb 11 2016 nearly a 13 year low Over the same period the BofA Merrill Lynch U S High Yield Energy Index tumbled about 46 percent Since then U S crude has risen about 44 percent settling at 37 84 on Thursday Over the same period the high yield energy index was up 20 percent Pipelines remain fundamental to the energy sector which helps protect revenues of companies operating them said Lon Erickson portfolio manager of the roughly 4 billion Thornburg Limited Term Income Fund Erickson said the fund had some exposure to midstream company Williams Cos N WMB while other funds held Kinder Morgan N KMI bonds He said oil producers began signaling steeper cuts in capital spending after oil prices slipped below 30 a barrel which could cut output enough to eventually boost oil prices The reality of this price environment is setting in and really causing people to take a look at their businesses Erickson said It is a lot more interesting a place to be looking at today than it was even six months ago Lydia Chaumont institutional portfolio manager for convertible bonds at BlueBay Asset Management in London said she also believes more balanced supply and demand could lift oil prices by year end Chaumont said she was looking to add to positions in higher quality energy companies These investors are optimistic despite lingering fears among ratings agencies Moody s Investors Service downgraded 71 oil and gas companies between December and February and still has around 92 companies on review for downgrade globally DEFAULTS NOT THE END OF THE WORLD Investors said energy assets could remain solid investments even if companies default on payments or file for bankruptcy Christian Busken director of real assets at investment advisory firm Fund Evaluation Group in Cincinnati said he was recommending clients invest in private equity funds that buy energy assets out of bankruptcy All the things that are happening in the energy markets are setting the stage for higher prices down the road Busken said noting capex cuts He said private equity funds buying assets of bankrupt energy companies stood to benefit once commodity prices recovered Midstream companies credit quality could deteriorate as a result of lower volumes as exploration and production E P companies produce less oil and gas said Steve Wood managing director of the Americas oil and gas team at Moody s in New York However he said he saw less risk of midstream companies defaulting than E P or oil services companies because their businesses are not as directly affected by low oil prices A default can halt a company from further degrading its value by paying junior creditors or continuing to make capital expenditures Susser of MacKay Shields said
A default is not the end of the world he said |
VZ | Mobile Internet Of Things Subscriber Base Thriving Globally | Internet of Things IoT which enables any physical electronic device with a valid IP address to transfer data seamlessly over a wireless network is the latest in the league of services and business models that have been gaining rapid market traction According to a recent report by research firm Berg Insight the number of mobile IoT subscribers grew 56 year over year to 647 5 million in 2017 The figure is likely to cross 1 billion by the end of this year The report estimates that there will be 2 7 billion IoT devices connected to wireless networks worldwide by the end of 2022 Last month research firm International Data Corporation IDC reported that worldwide spending on IoT is slated to grow 14 6 year over year to 772 5 billion in 2018 Moreover the IoT space will witness a compound annual growth rate CAGR of 14 4 to reach nearly 1 1 trillion in 2021 The next generation superfast wireless networks 4G LTE LTE A upcoming 5G will provide the primary impetus to the telecom industry In this context IoT has the potential to emerge as the numero uno driver Notably IoT is a network of physical objects embedded with electronics software sensors and connectivity that enable greater value and service by exchanging data with other connected devices Per the IDC report industries that are likely to make the largest IoT investments in 2018 are manufacturing 189 billion transportation 85 billion and utilities 73 billion Consumer IoT purchases which was the fourth largest market segment in 2016 is poised to become the third largest by 2020 according to market researchers Manufacturers investments will focus primarily on offerings that support manufacturing operations and product asset management while two thirds of transportation spending will be on freight monitoring At present the deployment of innovative connectivity platforms to deliver seamless fully integrated mobile communication with global networking is crucial to the success of wireless service providers Massive growth of 4G LTE Long Term Evolution and LTE A Advanced networks across the globe will lead to a smooth transition from 4G to the upcoming 5G network standard Superfast 5G mobile networks will be of utmost importance for efficient management of exponential IoT growth U S telecom behemoths like Verizon Communications Inc NYSE VZ and AT T Inc NYSE T U S national wireless carrier T Mobile US Inc NYSE T and UK based global telecom operator Vodafone Group plc NASDAQ VOD are well poised to benefit from the IoT boom AT T has a Zacks Rank 4 Sell Verizon and T Mobile US carry a Zacks Rank 3 Hold Vodafone sports a Zacks Rank 1 Strong Buy You can see Zacks Best Private Investment IdeasWhile we are happy to share many articles like this on the website our best recommendations and most in depth research are not available to the public Starting today for the next month you can follow all Zacks private buys and sells in real time Our experts cover all kinds of trades from value to momentum from stocks under 10 to ETF and option moves from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises You can even look inside exclusive portfolios that are normally closed to new investors |
VZ | Verizon up 6 1 after Q2 revenues subscriber adds show strength | Verizon NYSE VZ has come out of the gate up 6 1 a strong move after a healthy Q2 revenue beat and subscriber additions that topped estimates The company added 614 000 net retail postpaid subscribers including 590 000 postpaid smartphone net adds Retail postpaid churn was 0 94 and retail postpaid phone churn was 0 70 Adjusted profits grew to 0 96 share from a year ago 0 94 share impacted then by a work stoppage Verizon reignited its growth engine in the quarter both adding and retaining wireless customers while scaling our media business and continuing to invest in our superior networks says CEO Lowell McAdam Revenue breakout Service revenues and other 26 25B down 2 2 Wireless equipment 4 3B up 16 For the full year it s expecting organic revenues consistent with 2016 with improvement in wireless service revenue and equipment revenue trends and EPS trends similar to revenue trends It sees capital spending for the year of 16 8B 17 5B and an effective tax rate toward the low end of 34 36 Press Release Now read |
VZ | Wall St higher after Fed earnings flow | Investing com U S stocks added to record highs Thursday after the earnings season continued apace and the Fed held on policy The DJI was up 0 27 at 10 00 ET The S P 500 added 0 06 The tech heavy Nasdaq composite was up 0 43 The dollar recovered from 13 month lows as the FOMC statement was deemed dovish Initial weekly jobless claims rose more than expected Claims were up 10 000 at 244 000 Durable goods orders were up 6 5 in June from May beating a forecast rise of 3 0 Core orders came in at a rise of 0 2 below a forecast increase of 0 4 NASDAQ Facebook was up 5 52 after second quarter results reported Wednesday surprised on the upside NYSE Twitter was off 12 83 despite earnings beating estimates as user growth in the second quarter disappointed NYSE Verizon was up 5 88 as quarterly revenues topped estimates after adding subscribers |
CSCO | Marvell forecasts revenue below estimates on Huawei ban shares slide | By Ayanti Bera and Tamara Mathias
Reuters Marvell Technology Group Ltd forecast third quarter revenue below Wall Street estimates on Thursday as a ban on selling components to Chinese telecommunications giant Huawei Technologies Co Ltd HWT UL hurt the U S chipmaker
Shares of the company fell 6 2 to 22 71 in after hours trading
We remain in a very challenging macroeconomic environment which has certainly worsened recently and has impacted our guidance for the third quarter Chief Executive Officer Matthew Murphy said on a conference call with analysts
There s clearly a pause and the slowdown going on is driven by a lot of effects
Murphy highlighted challenges to business from Huawei and certain large customers noting that the switch to 5G cellular communications from 4G had cut demand for chips
Marvell said it stopped shipments to Huawei one of its key customers in the first quarter following the U S ban on the phone maker The U S government blacklisted Huawei in May alleging the Chinese company was involved in activities contrary to U S national security or foreign policy interests
Kinngai Chan an analyst with Summit Insights Group noted that weaker demand from Cisco Systems Inc NASDAQ CSCO also hurt business
Cisco in some quarters contributes up to 11 of Marvell s total sales Huawei is only about a 5 to 6 customer he said
Cisco itself has been facing challenges and said this month that sales in China fell 25 in its latest quarter
Marvell expects current quarter revenue of 660 million plus or minus 3 below analysts estimates of 697 58 million according to IBES data from Refinitiv
The company also reported second quarter revenue and profit above analysts estimates helped by strong sales in its networking business that sells ethernet and Wi Fi products
Revenue in the quarter ended Aug 3 fell 1 3 to 656 6 million but above estimates of 652 1 million
The company reported a net loss of 57 3 million or 0 09 per share compared with a profit of 6 8 million or 0 01 per share a year earlier
Excluding items the company reported a profit of 0 16 a share 1 cent above the average analyst estimate |
WMB | Chesapeake moves to quash bankruptcy fears as shares plunge | By Jessica DiNapoli and Mike Stone Reuters Chesapeake Energy N CHK the No 2 U S natural gas producer said on Monday it had no plans to file for bankruptcy after sources told Reuters the company had asked its longtime counsel to look at restructuring options Chesapeake s shares were halted after plunging more than 50 percent but later pared some losses as it said advisers Kirkland Ellis had been providing counsel since 2010 and will continue to help the company strengthen its balance sheet Trade publication Debtwire had reported the engagement of Kirkland Ellis on Friday evening prompting Chesapeake s shares to drop early on Monday to 1 50 on fears it might soon make one of the biggest bankruptcy filings of the current crash in oil and natural gas prices The company seeking to downplay those worries said it currently has no plans to pursue bankruptcy and is aggressively seeking to maximize value for all shareholders With more than 10 billion in bonds the oil and gas producer s balance sheet is under pressure and its equity market capitalization is around just 1 2 billion In addition to its debt filings show Chesapeake has commitments to pay about 2 billion a year for space on pipelines run by several companies including Williams Companies Inc N WMB whose shares fell 35 percent on Monday in part on its exposure to Chesapeake Chesapeake had cash on hand of about 1 8 billion on Sept 30 according to public filings That is plenty to pay 500 million in debt due in March though at least another 1 3 billion will come due through 2018 Once a Wall Street darling that in many ways symbolized the U S fracking revolution Chesapeake has struggled since a governance crisis prompted the departure of its founder and former Chief Executive Aubrey McClendon in 2013 Prominent Chesapeake shareholders include Carl Icahn With oil and gas prices down 70 percent since 2014 and many new wells money losers analysts say companies like Chesapeake are in zombie mode slowly burning through cash and unable to invest in growth in a meaningful way Tim Rezvan an energy analyst at Stern Agee said in a note to clients about Chesapeake that it was hard to justify any equity value until liquidity questions get answered CNBC citing sources said Chesapeake hopes to sell assets or tender bonds The Oklahoma City based company recently completed a debt exchange converting 3 8 billion of unsecured debt into new second lien notes but the new bonds dropped on the secondary market A limited number of holders of debt with near term maturities participated in the exchange Chesapeake has suspended its dividend to preserve cash cut about 15 percent of its workforce and written down the value of some oil and gas assets Standard Poor s downgraded Chesapeake to CCC last month In the third quarter of 2015 it reported a loss of 4 69 billion compared with a profit of 169 million the same quarter the year before
About 40 energy companies entered bankruptcy in 2015 and more are expected in the next few months |
WMB | As U S shale sinks pipeline fight sends woes downstream | By Tom Hals WILMINGTON Del Reuters Within weeks two low profile legal disputes may determine whether an unprecedented wave of bankruptcies expected to hit U S oil and gas producers this year will imperil the 500 billion pipeline sector as well In the two court fights U S energy producers are trying to use Chapter 11 bankruptcy protection to shed long term contracts with the pipeline operators that gather and process shale gas before it is delivered to consumer markets The attempts to shed the contracts by Sabine Oil Gas and Quicksilver Resources PK KWKAQ are viewed by executives and lawyers as a litmus test for deals worth billions of dollars annually for the so called midstream sector Pipeline operators have argued the contracts are secure but restructuring experts say that if the two producers manage to tear up or renegotiate their deals others will follow That could add a new element of risk for already hard hit investors in midstream companies which have plowed up to 30 billion a year into infrastructure to serve the U S fracking boom It s a hellacious problem said Hugh Ray a bankruptcy lawyer with McKool Smith in Houston It will end with even more bankruptcies A judge on New York s influential bankruptcy court said on Feb 2 she was inclined to allow Houston based Sabine to end its pipeline contract which guaranteed it would ship a minimum volume of gas through a system built by a Cheniere Energy A LNG subsidiary until 2024 Sabine s lawyers argued they could save 35 million by ending the Cheniere contract and then save millions more by building an entirely new system Fort Worth Texas based Quicksilver s request to shed a contract with another midstream operator Crestwood Equity Partners N CEQP is set for Feb 26 The concerns have grown more evident in recent days raised in law firms client memos and investment bank research notes Last week executives from Williams Companies Inc N WMB and Enbridge Inc TO ENB two of the world s largest pipeline operators sought to allay growing investor fears saying they were reviewing contracts or securing additional credit guarantees to minimize the impact of the biggest oil bust in a generation MORE VULNERABLE THAN THOUGHT So far relatively few oil and gas producers have entered bankruptcy and most were smaller firms But with oil prices down 70 percent since mid 2014 and natural gas prices in a prolonged slump up to a third of them are at risk of bankruptcy this year consultancy Deloitte said in a Feb 16 report Midstream operators have been considered relatively secure as investors and analysts focus on risks to the hundreds of billions of dollars in equity and debt of firms most directly exposed to commodity prices That s because firms such as Enterprise Products N EPD Kinder Morgan and Plains All American N PAA relied upon multi year contracts the kind targeted in the two bankruptcies that guarantee pipeline operators fixed fees to transport minimum volumes of oil or gas Now with U S oil output shrinking and gas production stalling many of the cash strapped producers entering bankruptcy will be seeking to rid themselves of pricey agreements particularly those with so called minimum volume commitments that require paying for space even if it is not used They will be probably among the first things thrown out said Michael Grande director for U S midstream energy and infrastructure at Standard Poor s RUN WITH THE LAND In bankruptcy court Sabine s lawyers argued for undoing a pipeline and gathering contract with Cheniere unit Nordheim Eagle Ford Gathering that is worth tens of millions of dollars in coming years Instead a different midstream operator would be hired to build a new system that Sabine s lawyer told the bankruptcy court would literally wrap around Nordheim s existing infrastructure If Sabine gets the ruling it wants it would immediately save the 35 million owed to Cheniere as a deficiency fee for failing to meet minimal volume commitments since the gathering system went into effect in September 2014 Ryan Bennett a Kirkland Ellis attorney representing Sabine told Bankruptcy Judge Shelley Chapman at a Feb 2 hearing that Sabine had plenty of options once it shed the Cheniere contract Maybe we do renegotiate with Nordheim Maybe we buy their gathering system after this is all over he told Chapman Nordheim like many midstream operators has long considered its gas gathering and transportation agreements to be nearly bankruptcy proof The Cheniere affiliate argued the contracts with Sabine went beyond a typical commercial agreement and transferred to Nordheim Sabine s ownership right to collect and transport the gas collected within a certain area The midstream operator s lawyer compared it to a property deed restriction that forever limited the height of building Such restrictions are said to run with the land and generally cannot be rejected in bankruptcy Sabine s lawyers seemed to sway the judge when they countered that the contract language never transferred ownership rights and if it did it applied to mineral rights not land rights Judge Chapman did not say when she would rule but told the hearing she was inclining toward ruling in Sabine s favor She encouraged the parties to reach a deal ALL IN THE FAMILY NO MORE Lawyers told Reuters some gathering agreements did not appear well protected against bankruptcy in part because the contracts were written when one company owned both energy production and midstream operations In recent years the industry has undergone significant reshuffling and many energy producers spun off gathering systems For example the Quicksilver agreement was struck when the midstream operator was part of the Quicksilver corporate family In October 2010 Quicksilver sold its gas gathering and processing operations in Texas to a master limited partnership a once popular type of tax advantaged corporate structure affiliated with Crestwood Equity Partners for 700 million The gathering operations included a pipeline agreement with Quicksilver that expired in 2020 Earlier this month Quicksilver asked U S Bankruptcy Judge Laurie Silverstein to end that deal in order to save the sale of its U S assets to BlueStone Natural Resources for 245 million If Quicksilver fails to break the pipeline agreement it would have to settle for a lesser bid that includes just 93 million in cash according to court documents PAIN SPREADING The infrastructure that midstream firms have built remains in high use so far including the more than 12 000 miles of new pipelines commissioned since 2010 U S oil production is expected to fall only modestly and most analysts expect prices to rebound somewhat in coming years Still the pain is accruing already Plains All American said this month that it expected a default from one unidentified customer who contracted for 10 percent of its BridgeTex pipeline which transports crude from west Texas to the Houston area Reuters later identified the customers as a little known privately held merchant called Stampede Energy IL2N15W14Z Analysts at Credit Suisse said Williams Partners N WPZ could lose up to 400 million in earnings before interest tax depreciation and amortization or EBITDA if Chesapeake Energy Corp N CHK the second largest U S natural gas producer uses creditor protection to shed its minimum volume agreements While Chesapeake has denied any plans to file for bankruptcy the head of the general partner of Williams took time on Thursday to explain to analysts and investors why he believed their deals were bankruptcy proof We believe gathering contracts such as ours are not the type of contract that would be rejected said Alan Armstrong President and CEO of Williams Companies Inc But he also said they were following the Sabine case closely
This story has been refiled to correct paragraph 15 show Michael Grande works for Standard Poor s not Moody s |
VZ | AT T s quarterly profit tops Wall Street estimates shares rise | By Anjali Athavaley NEW YORK Reuters AT T Inc s N T quarterly profit topped Wall Street estimates on Tuesday as the No 2 U S wireless carrier lowered operating costs and introduced new promotions bundling video with phone service that helped it compete in a fierce market for customers Its shares rose 2 5 percent to 37 12 in after hours trading AT T is battling industry leader Verizon Communications Inc N VZ and smaller rivals Sprint Corp N S and T Mobile US Inc O TMUS for customers in a market where most people already have cell phones Verizon in February reintroduced an unlimited data plan for the first time in more than five years and other carriers have since then sweetened their own offers AT T which is in the process of buying Time Warner Inc N TWX for 85 4 billion in an effort to turn itself into a media powerhouse has sought to compete by bundling mobile service with video entertainment In June it announced that it was offering its unlimited wireless plan with its internet streaming service DirecTV Now for an additional 10 a month Such product bundles helped win new subscribers as well as keep hold of old ones Chief Financial Officer John Stephens said on a post earnings conference call with analysts Perhaps the biggest impact is on wireless churn he said referring to the rate of customer defections Churn among phone subscribers who pay a monthly bill was 0 79 percent in the quarter the lowest in the company s history AT T lost 89 000 U S phone subscribers who pay a monthly bill in the quarter its most lucrative customers Analysts had expected a loss of 256 000 according to research firm FactSet Including prepaid customers it added 178 000 phone subscribers in the quarter The company lost 199 000 video subscribers in the period overall Its DirecTV Now streaming service added 152 000 subscribers bringing the total to 500 000 since the service was launched in November But that failed to offset losses by its satellite and U verse pay TV offerings Net income attributable to AT T rose to 3 9 billion or 63 cents per share in the second quarter ended June 30 from 3 4 billion or 55 cents per share a year earlier Excluding some items earnings per share were 79 cents ahead of analysts average estimate of 73 cents per share according to Thomson Reuters I B E S Revenue declined slightly to 39 8 billion from 40 5 billion in the year ago period hitting analysts average estimate
AT T continues to expect the Time Warner deal to close by year end |
VZ | AT T shares surge more than 4 percent low churn helps | By Sheila Dang Reuters AT T Inc N T shares jumped more than 4 percent on Wednesday notching their biggest one day percentage gain since March 2009 a day after the carrier said its bundled products had helped slow losses of its most lucrative wireless customers Churn among phone subscribers who pay a monthly bill was 0 79 percent in the quarter the lowest in the company s history AT T said its second quarter earnings report on Tuesday AT T said it lost 89 000 U S phone subscribers who pay a monthly bill in the quarter its most lucrative customers Analysts had expected a far bigger loss of 256 000 The company s better than expected subscriber metrics and margin performance alleviated some concerns that hang over the stock Barclays LON BARC analyst Amir Rozwadowski wrote in a note on Wednesday In Wireless it now seems clear that we will see record low churn for the industry this quarter with consumers likely waiting for the new iPhone before switching and upgrading wrote New Street Research analyst Jonathan Chaplin on Wednesday The second largest U S wireless carrier competes for customers with Verizon Communications N VZ and smaller rivals Sprint Corp N S and T Mobile US Inc O TMUS It bought Time Warner Inc N TWX for 85 4 billion to bundle mobile service with entertainment AT T expects that deal to close by year end AT T announced in April it was offering its unlimited wireless plan with its streaming service DirecTV Now for an additional 10 a month Product bundles will help win new subscribers and keep existing ones Chief Financial Officer John Stephens said on a post earnings conference call with analysts AT T reported second quarter earnings of 79 cents per share excluding certain items topping analysts average estimate of 73 cents per share Longer term the Dallas based company s share appreciation will depend on performance after its acquisition of Time Warner Barclays said Shares of AT T were last up more than 4 percent at 37 87 in afternoon New York Stock Exchange trading |
CSCO | Cisco Earnings Beat in Q4 but Guidance Falls Short | Investing com Cisco NASDAQ CSCO delivered weaker than expected guidance Wednesday offsetting fourth quarter results that beat analysts expectations the top and bottom lines
Cisco said it expected fiscal first quarter earnings in the range of 0 80 to 0 82 a share on revenue of 12 68 billion to 12 93 billion short of expectations from S P Capital IQ of 0 83 a share on revenue of 13 41 billion
0 83 S P
0 83 S P
12 68 12 93 bln vs
The networking company reported fiscal fourth quarter earnings of 0 83 per share on revenue of 13 43 billion Analysts polled by Investing com anticipated earnings per share of 0 81 on revenue of 13 39 billion That compared to earnings per share of 0 70 on revenue of 12 84 billion in the same period a year earlier The company had reported earnings per share of 0 78 on revenue of 12 96 billion in the previous quarter
Ahead of Cisco s fourth quarter earnings analysts had highlighted weaker enterprise spending on networking equipment as a headwind that could weigh on growth
But revenue from the infrastructure platforms division which make up the bulk of total revenue rose 6 to 7 88 billion above the 7 84 billion consensus among analysts polled by FactSet
sales of data center networking products including switches and routers
Cisco NASDAQ CSCO shares fell 6 24 in after hours trading following the report |
CSCO | Tariffs China sales weigh on Cisco outlook shares slide | By Sayanti Chakraborty and Stephen Nellis
Reuters Cisco Systems Inc NASDAQ CSCO said on Wednesday that impending U S tariffs and Chinese customers shunning the networking company s gear were weighing on its business and it forecast sales and profit below Wall Street targets
Cisco executives said sales in China fell 25 and that the country s state owned enterprises were no longer taking bids from Cisco
We re not being allowed to even participate anymore Cisco Chief Executive Chuck Robbins told investors on a conference call
Chief Financial Officer Kelly Kramer said in an interview that Chinese companies were dropping Cisco gear and instead buying hardware from domestic Chinese companies
There s a certain sense of nationalism Kramer said
Cisco estimated first quarter revenue growth of 0 to 2 This implies a range of 13 07 billion to 13 33 billion while analysts expect 13 40 billion according to IBES data from Refinitiv
It estimated adjusted earnings of 80 cents to 82 cents per share in the first quarter of 2020 below analysts forecast of 83 cents
Shares of Cisco a Dow component fell 3 4 in the runup to results amid broader declines in the market and dropped 8 to 46 53 in after hours trading
While sales to China fell sharply they comprised less than 3 of overall sales in Cisco s fiscal fourth quarter Slower orders from large businesses especially in the United Kingdom also contributed to the below expectations forecast
Cisco said U S tariffs on Chinese made goods would soon hit its products dragging down margins in its fiscal first quarter U S President Donald Trump said this week he would delay a 10 tariff on some Chinese made goods until December But Kramer said most of Cisco s goods were not part of the temporary reprieve and face tariffs next month
Nothing got excluded so far Kramer said
That would weigh on the company s margins in its fiscal first quarter she added Cisco forecast adjusted gross margins of 63 to 64 virtually unchanged from the 62 9 in the just reported quarter
Since taking the helm in July 2015 CEO Robbins has emphasized growth areas such as the cloud Internet of Things and cybersecurity through acquisitions
Sales in Cisco s cybersecurity business which offers firewall protection and breach detection systems rose 14 to 714 million in the fourth quarter but missed estimates of 737 1 million
Net income fell to 2 21 billion or 51 cents per share in the fourth quarter ended July 27 Excluding items it earned 83 cents above estimates of 82 cents
Total revenue rose 4 5 to 13 43 billion and beat the average analyst estimate of 13 39 billion |
CSCO | Cisco Falls 8 | Investing com Cisco NASDAQ CSCO fell by 8 11 to trade at 46 49 by 13 01 17 01 GMT on Thursday on the NASDAQ exchange
The volume of Cisco shares traded since the start of the session was 36 21M Cisco has traded in a range of 46 34 to 47 94 on the day
The stock has traded at 53 3600 at its highest and 46 3400 at its lowest during the past seven days |
VZ | FCC Bids Adieu To Net Neutrality Legal Battle Looms | Yesterday in a landmark decision the U S telecom regulator Federal Communications Commission FCC repealed the Net Neutrality laws that it had imposed under the Obama regime
Ever since President Trump elected existing Republican commissioner Ajit Pai as the chairman of the FCC in January 2017 the fate of Net Neutrality was at stake Nevertheless Net Neutrality supporters are preparing for legal battle We expect this subject to remain a hot cake in the 2018 telecom space On Feb 26 2015 the FCC under the chairmanship of Tom Wheeler adopted Net Neutrality implying an open Internet atmosphere which will prohibit ISPs Internet Service Providers especially the telecom and cable TV operators from discriminating against applications So far these companies were allowed to restrict any device application service or content from running on their respective networks Proponents of Net Neutrality argued that the law bans common ISP practices such as data traffic blocking slowing any data traffic and paid prioritization Content developers have to pay hefty sums to ISPs for accelerated data transfer which they eventually transferred to end users In this situation implementation of Net Neutrality by FCC was a huge positive for several web based application and content developers especially the start up companies and general consumers Read Opponents of Net Neutrality have argued that several billion dollars of investment for high speed broadband network which the ISP s spend will be significantly jeopardized if discriminatory pricing is disallowed and it would eventually result in loss of jobs for the economy Read Irrespective of the arguments of the two sides some important socio economic policy related issues are also involved in the Net Neutrality controversy We will now try to understand those Is Internet a Public Utility Under Title II The primary issue related to the Net Neutrality controversy is that can high speed broadband Internet be treated as a public utility like phone electricity gas water etc Telecom is a major infrastructure product Can Internet be classified as an essential service for livelihood for which the bulk of the investment is coming from private sector Net Neutrality laws reclassified Internet as a public utility under Title II of the 1934 Communications Act instead of section 706 of the 1996 Telecommunications Act The reclassification is associated with strong control mechanism Importantly these regulations were applicable to both mobile and fixed broadband networks The reclassification of the Internet called for a radical change in the way the government treats high speed broadband service This gives the FCC increased control over the ISPs Private Investment KeyIn the last 20 years private sector has invested a mammoth 1 5 trillion to install communications network throughout the United States A group of 63 smaller service providers the majority of which serve rural areas have given an estimate that they invest more than 70 billion every year on enhancing and expanding their networks which raised rural broadband connectivity by a whopping 117 in the last 10 years This enormous expenditure took place primarily due to not so stringent rules implemented by the regulator Due to this exponential deployment of telecom network the web based applications and solutions developers are flourishing Per a recent study by USTelecom investment in broadband infrastructure declined from its peak at 78 4 billion in 2014 to 77 9 billion in 2015 and 76 billion in 2016 According to USTelecom the reclassification of broadband as a public utility under Title II of the 1934 Communications Act has resulted into precipitous lower investment in broadband infrastructure Control Mechanism vs Private InvestmentThe champions of Net Neutrality argued that strong regulatory measures are required to ensure free availability of Internet to everyone If ISPs are allowed to practice paid prioritization a method through which content developers strike deals with ISPs for fast and smooth transmission of their data traffic then only a handful of large web based content and application developers will benefit This will have a negative impact on start up companies resulting in less innovation and competition General consumers will also be affected since established content and application developers will ultimately raise their price to recoup the extra charge they pay to the ISPs On the other side opponents of Net Neutrality argued that the basic rule of the neo classical economic theory is left to itself the market will be able to bring back equilibrium The equilibrium is achieved when marginal utility equalizes marginal cost If multi media application generates more demand than simple text message users need to pay accordingly Similarly ISPs will reach equilibrium when marginal revenue equals marginal cost If an application requires more bandwidth consumption then the users should pay more for that Moreover establishing Internet fast lanes become necessary in some critical scenarios Remote healthcare applications and self driving cars will require high speed secured broadband connections with exceptional reliability In these situations FCC s soft regulatory policies will enable ISPs to better serve the nation The current FCC s less restrictive regulatory attitude may also pave the way for new merger and acquisition deals between ISPs and online digital media companies Politics MattersLook at the voting pattern of the FCC when it adopted Net Neutrality and when it abandoned it On both occasions the result was 3 2 The Democrats were at the helm of FCC when the regulatory body adopted Net Natality while Republicans are in power now Ajit Pai strongly argued that a light touch regulatory measure generated higher investment in the overall telecom industry Even when the former FCC under the chairmanship of Wheeler adopted Net Neutrality Republican senators were not in favor of this directive These groups believe that a slight law reformation under section 706 of the 1996 Telecom Act will be enough to enforce Net Neutrality Trump himself is a strong critic of Net Neutrality He has stated that he wants to do away with nearly 75 of all governmental regulations during this term as the President A new FCC headed by Pai exercising lesser restrictions certainly augurs well for the ISP industry The regulator s sole concern will be transparency of ISP practices This will ensure that consumers can buy service plans best suited to them Also both large and SMB small and medium business enterprises can avail instant technical information for product innovation The Federal Trade Commission FTC will be in charge overseeing ISP practices for the protection of consumers online privacy Who Will Gain as FCC Revokes Net Neutrality There is little doubt that the ISP industry will be the major beneficiary after FCC dismantling Net Neutrality Leading ISPs including AT T Inc NYSE T Verizon Communications Inc NYSE VZ Comcast Corp NASDAQ CMCSA and Charter Communications Inc NYSE T strongly criticised Net Neutrality rules AT T carries a Zacks Rank 4 Sell However Verizon Comcast and Charter have a Zacks Rank 3 Hold You can see Bottom LineThe primary viewpoint of Net Neutrality proponents is that choice of content should be left to the consumer No discrimination should be allowed in treating contents An open Internet should be the backbone for product innovation in a free market environment
On the other hand the opponents of Net Neutrality argue that a light touch regulatory measure will generate higher investment in the overall telecom industry That will pave the way for web based service providers to flourish
We are waiting for a legal solution to this controversy in 2018 Investor Alert Breakthroughs PendingA medical advance is now at the flashpoint between theory and realization Billions of dollars in research have poured into it Companies are already generating substantial revenue and even more wondrous products are in the pipeline Cures for a variety of deadly diseases are in sight and so are big potential profits for early investors Zacks names 5 stocks to buy now |
VZ | RadioShack creditors lawsuit says Sprint killed 6 000 jobs | By Tom Hals and Svea Herbst Bayliss WILMINGTON Del BOSTON Reuters Sprint Corp used confidential information from its alliance with RadioShack Corp to open competing mobile phone stores dooming the comeback by the electronics retailer and destroying jobs according to a lawsuit filed on Wednesday by RadioShack creditors RadioShack emerged from bankruptcy in 2015 with a deal to co brand about 1 400 stores with Sprint which was meant to help the telecoms provider better compete with larger rivals AT T NYSE T Corp and Verizon Communications Inc NYSE VZ However by early 2017 RadioShack owned by General Wireless had returned to bankruptcy and is liquidating The lawsuit filed in Delaware Superior Court by RadioShack s official committee of unsecured creditors says that Overland Park Kansas based Sprint breached its contract with RadioShack and is seeking 500 million in damages Sprint allegedly ignored its obligations to provide inventory and staff to RadioShack stores because of its own financial troubles Sprint spokesman David Tovar said the company was disappointed by the creditors committee action and Sprint expected to defend the matter vigorously The lawsuit alleges that in 2016 Sprint used confidential information obtained from RadioShack to open 200 competing stores near RadioShack s best locations sinking any comeback for the electronics chain Sprint s action destroyed nearly 6 000 RadioShack jobs said the lawsuit The allegations stand in sharp contrast to promises made less than seven months ago by the chief executive officer of SoftBank Sprint s Japanese parent company that he would create U S jobs U S President Donald Trump made jobs the centerpiece of his election campaign SoftBank s Masayoshi Son was among the first foreign business leaders to meet with then President elect Donald Trump at his New York headquarters and praised the Republican for a raft of planned deregulations The CEO promised to invest 50 billion with the aim of hiring 50 000 people in the United States
Trump took credit for the commitment and reported in late December that Sprint had committed to bringing 5 000 jobs to the United States |
CSCO | Cisco Falls 4 | Investing com Cisco NASDAQ CSCO fell by 4 03 to trade at 51 11 by 14 32 18 32 GMT on Monday on the NASDAQ exchange
The volume of Cisco shares traded since the start of the session was 16 11M Cisco has traded in a range of 51 10 to 52 53 on the day
The stock has traded at 57 1500 at its highest and 51 1100 at its lowest during the past seven days |
CSCO | Cisco Falls 4 | Investing com Cisco NASDAQ CSCO fell by 4 06 to trade at 50 57 by 13 00 17 00 GMT on Wednesday on the NASDAQ exchange
The volume of Cisco shares traded since the start of the session was 10 67M Cisco has traded in a range of 50 57 to 52 03 on the day
The stock has traded at 53 3600 at its highest and 50 5700 at its lowest during the past seven days |
WMB | ETE confirms 48 billion bid for reluctant Williams Co | Reuters Energy Transfer Equity LP confirmed it had made a 48 billion unsolicited bid for natural gas pipeline company Williams Companies Inc NYSE WMB hours after Williams rejected the offer as significantly too low Energy Transfer Equity ETE an energy assets portfolio company said its all stock offer of 0 9358 shares per Williams share represented a 32 percent premium to the stock s closing price of 48 34 on June 19 Williams said in a statement on Sunday that the unsolicited proposal had prompted it to launch a review of strategic alternatives with the assistance of Barclays LONDON BARC and Lazard but the current offer significantly undervalues the company ETE said its offer is contingent on the termination of Williams pending purchase of Williams Partners which gathers processes and transports natural gas ETE made multiple attempts over almost six months to talk to senior management at Williams about a merger and made an initial offer on May 19 six days after the pipeline company said it would buy Williams Partners for 13 8 billion The deal is valued at 53 1 billion including debt and other liabilities and would be tax free to Williams stockholders ETE said in a statement The deal value of 48 billion is based on the number of Williams shares outstanding as of April 27 Williams could not be reached for comment outside regular U S business hours A person familiar with the matter confirmed to Reuters on Sunday that ETE was behind the offer for Williams Co Shares of ETE closed at 68 39 on the New York Stock Exchange on Friday having risen 19 2 percent this year Williams shares were up about 7 percent this year as of Friday s close |
VZ | Outline Of American Funds Global Balanced A Fund GBLAX | American Funds Global Balanced A Fund seeks growth of capital and conservation of current income in the long run GBLAX normally invests u in debt and equity securities of companies around the globe which limit volatility and offer prospects of dividend income growth GBLAX invests around two fifths of its assets in securities of foreign companies Also the fund invests at least one fourth of its assets in bonds and other debt securities This Allocation Balanced producthas a history of positive total returns for over 10 years Specifically the fund s returns over the 3 5 year benchmarks 3 year 4 1 and 5 year 7 3 To see how this fund performed compared in its category and other 1 and 2 Ranked Mutual Funds The American Funds Global Balanced A Fund as of the last filing allocates their fund in top two major groups Foreign Stock and High Yield Bond Further as of the last filing Imperial Brands PLC LON IMB Verizon Communications Inc NYSE VZ and Novartis AG were the top holdings for GBLAX This Zacks Rank 2 Buy was incepted in July 1996 and is managed by GBLAX carries an expense ratio of 0 88 and requires a minimal initial investment of 250 Want key mutual fund info delivered straight to your inbox Zacks free Fund Newsletter will brief you on top news and analysis as well as top performing mutual funds each week |
VZ | Outline Of American Funds Global Balanced R3 Fund RGBCX | American Funds Global Balanced R3 Fund seeks growth of capital and conservation of current income in the long run RGBCX normally invests u in debt and equity securities of companies around the globe which limit volatility and offer prospects of dividend income growth RGBCX invests around two fifths of its assets in securities of foreign companies Also the fund invests at least one fourth of its assets in bonds and other debt securities This Allocation Balanced product has a history of positive total returns for over 10 years Specifically the fund s returns over the 3 5 year benchmarks 3 year 3 8 and 5 year 7 To see how this fund performed compared in its category and other 1 and 2 Ranked Mutual Funds The American Funds Global Balanced R3 Fund as of the last filing allocates their fund in top two major groups Foreign Stock and High Yield Bond Further as of the last filing Imperial Brands PLC LON IMB Verizon Communications Inc NYSE VZ and Novartis AG were the top holdings for RGBCX This Zacks Rank 2 Buy was incepted in Feb 2011 and is managed by RGBCX carries an expense ratio of 1 20 and requires a minimal initial investment of 250 Want key mutual fund info delivered straight to your inbox Zacks free Fund Newsletter will brief you on top news and analysis as well as top performing mutual funds each week |
VZ | Verizon Comcast Internet speed claim dispute escalates | Tensions are rising in a marketing dispute between Verizon VZ 1 5 and Comcast CMCSA 0 2 as Verizon s refusal to deal with the National Advertising Division means the dispute is being punted to the FTC and FCC Comcast has balked at a number of Verizon s claims about FiOS Internet speeds such as Only FiOS has the Fastest Internet Available and challenged them via a proceeding at the NAD but Verizon has declined to participate saying NAD has a conflict of interest We ve participated in countless NAD matters over the years and have never before encountered a situation requiring the company to decline to participate in this voluntary self regulatory process Verizon says in a statement NAD refused to resolve a conflict of interest caused by their former assistant director who participated on prior Verizon cases now representing Comcast on substantially similar matters it continues Verizon regrets that NAD was unwilling to address this fundamental unfairness and we will happily demonstrate our performance superiority in a neutral and proper forum Now read |
Subsets and Splits
No saved queries yet
Save your SQL queries to embed, download, and access them later. Queries will appear here once saved.