Verizon (VZ) CEO All But Confirms Netflix (NFLX) Challenge; Highlights Other FY12 Initiatives
Get Alerts VZ Hot Sheet
Price: $42.00 +1.11%
Overall Analyst Rating:
NEUTRAL ( Down)
Dividend Yield: 6.3%
EPS Growth %: -6.7%
Overall Analyst Rating:
NEUTRAL ( Down)
Dividend Yield: 6.3%
EPS Growth %: -6.7%
Join SI Premium – FREE
Verizon Communications Inc. (NYSE: VZ) is trading in negative territory, along with the broader market, amid comments from CEO Lowell McAdam at the UBS 39th Annual Global Media & Communications Conference in New York on Wednesday.
Highlights of McAdam's comments from the event:
Verizon is about 0.9 percent lower on the session.
Highlights of McAdam's comments from the event:
- The recent spectrum deal gave Verizon significant breathing room, and it made sense to cross-sell products.
- The deal will help FiOS, and cable.
- Verizon plans joint projects with Comcast (Nasdaq: CMCSA) in four cities during January.
- Its lead in LTE is said to be 18 to 24 months.
- Currently, smartphone users are about 40 percent of customers, but Verizon is gunning for 50 percent in 2012.
- ISIS -- a payment joint venture with AT&T (NYSE: T) and T-Mobile -- will have significant deployment by the end of 2012, and should generate revenue in 2013.
- Verizon sees "over the top" as part of its FiOS strategy.
- It looked at Hulu when it was on the market, and it's online video model has "yet to be determined."
- Verizon's options for its cash may be boosted dividend or stock buybacks. Paying down debt might also be in the works.
Verizon is about 0.9 percent lower on the session.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- First Northern Community Bancorp (FNRN) Announces Share Buyback Plan
- Zura Bio (ZURA) Appoints Robert Lisicki as CEO, Reports FY23 Results
- Verizon Intelligent Call Back Capabilities Powered by Mindful by Medallia Now Available on CALNET
Create E-mail Alert Related Categories
Corporate News, Insiders' BlogRelated Entities
UBS, Dividend, HuluSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!