VZ - Verizon Communications Inc.

NYSE - NYSE Delayed price. Currency in USD
+0.17 (+0.29%)
At close: 4:00PM EST
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Previous close59.34
Bid59.42 x 3000
Ask59.50 x 1400
Day's range59.06 - 59.53
52-week range52.28 - 61.58
Avg. volume10,843,804
Market cap246.12B
Beta (3Y monthly)0.50
PE ratio (TTM)15.29
EPS (TTM)3.89
Earnings date30 Jan 2020
Forward dividend & yield2.46 (4.15%)
Ex-dividend date2019-10-09
1y target est61.96
  • Disney+ Audience Potential Is Enormous, Guggenheim's Morris Says

    Disney+ Audience Potential Is Enormous, Guggenheim's Morris Says

    Nov.12 -- Michael Morris, Guggenheim Securities senior managing director, discusses the launch of Walt Disney Co.'s Disney+ streaming service with Bloomberg's Caroline Hyde and Scarlet Fu on "Bloomberg Markets: The Close."

  • T-Mobile & Sprint Unveil Location of New Support Center

    T-Mobile & Sprint Unveil Location of New Support Center

    T-Mobile (TMUS) and Sprint (S) will establish Customer Experience Center in Nassau County for the creation of employment opportunities and enhanced customer support.

  • GlobeNewswire

    Verizon to redeem select Verizon InterNotes® due 2028-2029

    NEW YORK, Nov. 15, 2019 -- Verizon Communications Inc. (NYSE, NASDAQ: VZ) today announced that it will redeem the following outstanding notes (the “Notes”) on December 15, 2019.

  • How Disney+ Is Already Reforming The Streaming Space

    How Disney+ Is Already Reforming The Streaming Space

    In the first 24 hours of its release, 10 million people had already signed up for this much anticipated streaming service.

  • Sprint Unveils Community Lab to Boost OpenRAN 5G NR Project

    Sprint Unveils Community Lab to Boost OpenRAN 5G NR Project

    Sprint (S) introduces Telecom Infra Project Community Lab to develop OpenRAN 5G NR project for enhanced connectivity solutions.

  • Motorola Brings Back the Razr as $1,500 Foldable Smartphone

    Motorola Brings Back the Razr as $1,500 Foldable Smartphone

    (Bloomberg) -- Motorola is rebooting the iconic Razr flip phone as a 6.2-inch smartphone with a foldable display that gives the Lenovo-owned brand a unique selling point against Apple Inc. and Samsung Electronics Co.’s finest.The new device reprises the Motorola Razr name and looks like a modernized version of the original. It costs $1,499 and will be available for pre-order in December in Europe and as a Verizon exclusive in the U.S., ahead of its retail arrival in January. For Lenovo Group Ltd., which has a tiny fraction of the global smartphone market, it's an effort to build brand awareness in the U.S. via a halo device.Launched in late 2004, the first Razr became a cultural icon in the U.S., sold 130 million units and was the face of the phone industry before Apple launched the iPhone in 2007. Motorola’s new model has a shot at some fame as well, as it’s set to become the first true foldable phone on the market — every other device so far could more properly be described as a foldable tablet — and company executives have told Bloomberg they are confident that their design won’t succumb to the durability issues that pushed back Samsung’s Galaxy Fold launch.The 2019 Razr is no bargain, but compared to the $1,980 Galaxy Fold or Huawei Technologies Co.’s $2,600 Mate X, it’s the most affordable member of the most expensive modern phone category. The compromise that users will have to accept with the Razr is in some of its specifications: it has a small battery at 2,510mAh and runs the older Android 9 Pie operating system on Qualcomm’s sub-flagship Snapdragon 710 chip. It lacks the 5G option and bountiful memory of its rivals. Aside from the U.S. and Europe, it’ll also be on sale in Latin America, Asia and Australia.Motorola President Sergio Buniac said he doesn’t see the launch as a “silver bullet” for rocketing Motorola’s sales up to Apple and Samsung numbers. Over the past several quarters, Motorola has turned its mobile business from a flailing unit of China’s Lenovo to profitability in many markets, he said. The new Razr is intended to continue that even without strong sales. Buniac said he’s hoping for “a little bit more” demand than supply, while Lenovo Chief Operating Officer Gianfranco Lanci said “it will bring greater awareness to the brand, especially in key markets like North America.”Motorola’s take on foldable phone design is markedly different to the first batch of foldable devices. Instead of a vertical hinge that makes it open like a book, the new Razr opens and closes like a classic flip phone. Closed shut, the phone is a square that’s about half the size of an iPhone 11 Pro Max, and Motorola has used the foldable technology to make one of the most portable phones on the market. In the process, it’s brought back the action of flipping the phone shut to hang up calls, which is something most premium smartphone consumers haven’t done in at least a decade.Samsung is planning to introduce its own square-shaped foldable phone as its second Galaxy Fold device early next year. Until that time, Motorola looks set to be all alone in offering a regular smartphone capable of collapsing into a pocket-friendly clamshell.“We wouldn’t be bringing the product to market if we didn’t think it was ready,” said Buniac, underlining Motorola’s belief in the reliability of its particular hinge and fold design. Samsung’s Galaxy Fold had issues with air bubbles popping up beneath the display and tiny particles getting trapped under the screen. Touting a so-called zero-gap design,  Buniac said “Our expectation is that we will have a reliable product, and as we launch you will see, but we are confident in what we achieved.”In a brief hands-on test with the Razr, the handset felt and looked impressive. Its screen felt fragile, but the device’s design chief Ruben Castano said “We feel like we’ve really developed a robust solution,” pointing to stainless steel structural plates between the bottom of the inner screen and the device’s internals. He says that layer will help prevent particles like sand from going into the device’s electronics and breaking the display. There’s also a 2.7-inch exterior touchscreen for quick access to commonly used functions and checking notifications.Similar to Samsung, Motorola will offer 24-hour turnaround replacements under a standard warranty for display failures, and it will charge $299 if the issue falls out of warranty in the U.S. The phone will be sold via Verizon Wireless as the exclusive launch carrier in the U.S. and will be available at Verizon and Walmart stores from January.The Razr’s inner display appeared impressive with a high-resolution panel whose crease was more subtle than the one on the Galaxy Fold. When unfolded, the Razr operates like most other Android phones, running a full touchscreen version of Google’s operating system. The external screen is designed for light interactions like answering calls and texts, but like the front screen on the Galaxy Fold, it’s not something most consumers are likely to use much. The new Razr is a flip phone at heart and that’s how most people will want to use it.Castano said that Motorola started working on a foldable design around 2015 and that its biggest challenge was being able to match the first Razr’s ability for the phone to be fully shut with no gap. Like the original Razr, the 2019 model has a chin at the bottom that houses electronics such as the LTE antenna. it also has a notch at the top of the main display, lacks a headphone jack, and will be available only in black and with 128GB of storage without further upgrade options. Its camera and battery specs are underwhelming, though Motorola promises “all-day battery life” without quoting an exact number of hours.Motorola’s other big task will be to prove itself at the super premium end of the market that’s long been dominated by Samsung and Apple. Since the first Razr, the Motorola brand has worn many hats, having served as a middling iPhone counter with the Verizon Droid, gone through a $12.5 billion Google acquisition and eventually ended up in the hands of Lenovo. It now needs to rebuild its own brand identity.But the Razr’s shortcomings may very well not matter. This device is designed to appeal to those nostalgic for the flip phone era, for whom specs may not be a priority, as well as the early adopters of new technology, who are more tolerant of first-generation imperfections. To contact the author of this story: Mark Gurman in Los Angeles at mgurman1@bloomberg.netTo contact the editor responsible for this story: Vlad Savov at vsavov5@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Telecom ETFs in Focus on Mixed Q3 Earnings Results

    Telecom ETFs in Focus on Mixed Q3 Earnings Results

    With 5G technology opening up opportunities in the telecom sector, we study the impact of a few big earnings releases on ETFs with decent exposure.

  • Wireless National Stock Outlook Portrays Bullish Sentiments

    Wireless National Stock Outlook Portrays Bullish Sentiments

    Wireless National Stock Outlook Portrays Bullish Sentiments

  • AT&T Enters Into Agreement With Amdocs for Digital Upgrade

    AT&T Enters Into Agreement With Amdocs for Digital Upgrade

    The multi-year managed services agreement is part of the business transformation strategy of AT&T (T) and is likely to bring innovation to the market in an agile manner.

  • Zacks

    Dow All Alone at New Highs

    Dow All Alone at New Highs

  • Ericsson Partners With Zain for Advanced 5G Network Services

    Ericsson Partners With Zain for Advanced 5G Network Services

    Ericsson (ERIC) allies with Zain to launch advanced 5G services by investing in digitization to empower enterprise and industry customers in Bahrain.

  • Ribbon Deploys Emergency Calling Service for Colt Japan

    Ribbon Deploys Emergency Calling Service for Colt Japan

    Ribbon Communication (RBBN) reinforces the long-term business relationship with Colt Japan by augmenting the latter's service capabilities across the country.

  • Juniper Advances Global Partner Program to Drive Business

    Juniper Advances Global Partner Program to Drive Business

    Juniper (JNPR) Partner Advantage 2020 is designed to provide partners with the tools required to tap on major growth trends in the enterprise through expected revenue sources.

  • GlobeNewswire

    Verizon CFO to speak at Morgan Stanley European Technology, Media & Telecom Conference

    BARCELONA, Spain, Nov. 12, 2019 -- Matt Ellis, chief financial officer of Verizon, (NYSE, Nasdaq: VZ), is scheduled to speak at the Morgan Stanley European Technology, Media.

  • GlobeNewswire

    Payment security compliance declines – Only 1 in 3 companies globally make the grade and just 1 in 5 in the Americas

    Companies that maintain full compliance with the Payment Card Industry Data Security Standard (PCI DSS) decrease for the second year in a row to 36.7 percent worldwide. Only 1-in-5 organizations in the Americas maintain full compliance; Companies in Asia-Pacific dominate. Verizon’s 9-5-4 Framework addresses elements to help develop and improve capability and process maturity across an entire data protection compliance program (DPCP).

  • Streaming Wars Commence as Disney+ Nears Debut

    Streaming Wars Commence as Disney+ Nears Debut

    Disney (DIS) is set to debut its Disney+ streaming service on Tuesday, which will intensify the competition between streaming services.

  • Adam Neumann's Older Look-Alike Might Make We Work

    Adam Neumann's Older Look-Alike Might Make We Work

    (Bloomberg Opinion) -- John Legere may be exactly the kind of CEO WeWork needs. He brings much of the eccentricity and charisma that was initially appreciated about ousted founder Adam Neumann, but without all the headaches and liabilities. Is Legere ready to retire his closet of magenta T-shirts? We Co., the parent of the beleaguered office-sharing startup, is in discussions to recruit Legere, the current head of wireless carrier T-Mobile US Inc., as its next CEO,  the Wall Street Journal reported on Monday. The talks come after WeWork’s plans for an initial public offering imploded in grand fashion in recent weeks, as a litany of questionable decisions and conflicts of interests involving then-CEO Neumann came to light in a saga that has captivated Wall Street. WeWork, for a short time one of the world’s most valuable startups, had said in its summer IPO prospectus that its “future success depends in large part on the continued service of Adam Neumann.” Weeks later, Neumann was considered such a risk that the company decided it was better to effectively give him $1.2 billion to step away.Hiring Legere would immediately help improve WeWork’s tarnished reputation, though repairing the business is another story. Office vacancies increased in the third quarter, and the company was at risk of running out of cash next year. Legere’s garish style and hectoring on Twitter may also cause some to wonder whether he’s just another Neumann; it’s certainly hard not to notice the physical resemblance between the long hair, loud personality and signature T-shirt-and-sports-coat pairing.But few CEOs can say they’ve taken on a challenge as difficult as reviving T-Mobile — and succeeded. That’s Legere’s claim to fame. As I wrote in July 2018, even the groaners who are tired of his shtick and Twitter snark can’t argue against his track record.When Legere became CEO of T-Mobile in 2012, it was a distant fourth-place competitor in the U.S. wireless market and losing customers. Now it’s the fastest-growing member of the industry, and its displaced Sprint as the No. 3 carrier. T-Mobile’s lower-priced plans and marketing mojo have even given AT&T Inc. and Verizon Communications Inc. a run for their money. In the last five years, shares of all its closest rivals advanced anywhere from 12% to 21%. T-Mobile’s nearly tripled. Legere may seem like an odd choice given that he’s spent his career working in the telecommunications and technology industries. The connection becomes clearer when considering SoftBank Group Corp.’s role. The Japanese conglomerate built by billionaire Masayoshi Son not only controls WeWork — the result of a $9.5 billion rescue package — but also Sprint Corp., T-Mobile’s closest competitor and hopeful merger partner. Sprint Executive Chairman Marcelo Claure, who is also chief operating officer of SoftBank, was tapped to help fix WeWork’s problems. He’s spent a lot of time with Legere these last two years as they worked to sway federal and state officials to support the merger of the two wireless carriers. Legere has done with T-Mobile what Claure and his predecessors couldn’t with Sprint, even as SoftBank injected billions along the way. One might think that WeWork would seek out a lower-profile leader, given the roller-coaster it has been on the past few months; Legere is anything but that. And at 61 years old, it’s a little surprising that he would consider following up such a successful run at T-Mobile with a stint at a company as troubled as WeWork. T-Mobile has become part of his identity — he’s spotted in magenta T-Mobile gear whether he’s going for runs in New York City or filming his Facebook Live cooking show from his kitchen. T-Mobile shareholders wouldn't be happy to see Legere go. Worse, there's the appearance of a conflict of interest if SoftBank is pursuing Legere while the companies are separately renegotiating the terms of the Sprint merger.That aside, it’s clear that Legere likes a challenge, and WeWork is the ultimate one.To contact the author of this story: Tara Lachapelle at tlachapelle@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • How to Maximize Your Retirement Portfolio with These Top-Ranked Dividend Stocks - November 11, 2019

    How to Maximize Your Retirement Portfolio with These Top-Ranked Dividend Stocks - November 11, 2019

    The traditional ways to plan for your retirement may mean income can no longer cover expenses post-employment. But what if there was another option that could provide a steady, reliable source of income in your nest egg years?

  • Cincinnati Bell (CBB) Incurs Wider-Than-Expected Loss in Q3

    Cincinnati Bell (CBB) Incurs Wider-Than-Expected Loss in Q3

    Cincinnati Bell's (CBB) third-quarter overall revenues fall year over year due to lower revenues at Entertainment and Communications segment.

  • Disney Gains After Results as Analysts Look Ahead to Streaming

    Disney Gains After Results as Analysts Look Ahead to Streaming

    (Bloomberg) -- Walt Disney Co. shares rallied for their biggest intraday gain in seven months Friday, after the media giant reported fourth-quarter results that beat expectations.While the results were greeted warmly by Wall Street, most analysts are focused on the upcoming launch of the company’s Disney+ streaming-video service. The service “should take the wheel in determining the trajectory of the stock” from here, wrote Rosenblatt Securities, and optimism is growing over the company’s ability to add millions of subscribers early on.MoffettNathanson wrote that “we might be underestimating the size of the first year of launch,” given launch dates for the service in Western Europe and the potential for more bundles like Disney recently announced with Verizon Communications. Bernstein wrote that the prospect of 20 million first-year subscribers looked “much more likely” given these trends.Shares of the Dow component gained as much as 5.5% as the market opened in New York, to $140.25. Should the stock end the day with a gain of that magnitude, it would represent the biggest post-earnings rally since February 2015, according to Bloomberg data. The stock had gained about 21% thus far this year through Thursday’s close, compared with the 23% rise of the S&P 500.Here’s what analysts are saying about the results:Bernstein, Todd JuengerDisney+ is launching in Western Europe “much earlier than we thought,” and along with the Verizon deal, “year one subs of 20mm look much more likely.”The main question is how much can the company’s Core Parks business grow, if at all.Market perform, price target raised by $1 to $131.Rosenblatt Securities, Bernie McTernanDisney cleared “the last and lowered hurdle before Disney+ launches.” From here, “Disney+ should take the wheel in determining the trajectory of the stock,” and it will likely be a positive for shares.Subscriber declines for the company’s media networks accelerated more than expected, “highlighting the need” to focus on streaming.Buy rating, $170 price target.MoffettNathanson, Michael NathansonThis quarter “just doesn’t matter,” given how inherently messy it was given the acquisition impact of Fox assets, the consolidation of Hulu, and the pivot to direct-to-customer video streaming.Given the Western European launch dates for Disney+, as well as the potential for further telecom bundles, “we might be underestimating the size of the first year of launch.”“The market is sensing big things are brewing in the quarters ahead,” and momentum in subscriber growth may become the “sole focus” for investors.Buy rating, $150 price target.Cowen, Doug CreutzThe results were “strong,” but the near-term model is “in flux” given recent changes and the upcoming Disney+ launch.“We continue to believe that Disney+ is very well positioned to have an extremely strong launch that surpasses consensus subscriber expectations.”Outperform rating, $154 price target.What Bloomberg Intelligence Says:“Disney+ investments and the Fox integration will keep near-term earnings under pressure,” although the Fox assets give it “heft in a streaming world and a deep content library for direct-to-consumer offerings.”\- Analyst Geetha Ranganathan\- Click here for the researchTo contact the reporter on this story: Ryan Vlastelica in New York at rvlastelica1@bloomberg.netTo contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Steven Fromm, Courtney DentchFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • TELUS (TU) Q3 Earnings Surpass Estimates, Revenues Miss

    TELUS (TU) Q3 Earnings Surpass Estimates, Revenues Miss

    TELUS' (TU) third-quarter results reflect customer growth across its wireless and wireline business segments, driven by mobile phone and wireline additions, and rise in connected device subscribers.

  • Green Bonds Get Rubber-Stamped as Investors Question the Label

    Green Bonds Get Rubber-Stamped as Investors Question the Label

    (Bloomberg) -- Global investor enthusiasm for saving the planet has helped spur record issuance of green bonds. It’s also driving a surge in third-party verification that proceeds from the debt sales are actually destined for environmentally friendly projects, as fears of “greenwashing” mount.There have been about 480 green bonds issued by companies and governments so far this year with some form of assurance, a record high, according to data compiled by Bloomberg. That’s about 80% of all the green debt sold, and PepsiCo Inc. and Starbucks Corp. are among those paying independent reviewers for certification.“If we say something is sustainable, when our clients look under the hood it has to live up to that reputation,” said Mark Haefele, chief investment officer at UBS Wealth Management, which buys green bonds. Asset managers are concerned about lack of definition of what’s truly green, Haefele -- whose firm manages $2.5 trillion in assets -- said in an interview.Borrowers don’t have to prove proceeds will be used for a particular purpose, though second opinions can help sell bonds at a time when issuance is surging. Companies and governments typically align offerings with green bond principles and standards endorsed by the International Capital Market Association and Climate Bonds Initiative. But misleading claims about environmental benefits of projects are on the rise, making assurance and second opinions increasingly important to investors.“It really comes down to credibility,” said Heather Lang, executive director of sustainable finance solutions at Sustainalytics, which sells second opinions to green bond issuers. “Borrowers want to ensure the frameworks they put in place focusing on the green use of proceeds are aligned with global guidelines,” she said in a phone interview.Sustainalytics issued 35% more second-party opinions for green bonds in the third-quarter of this year compared to the same period a year ago. That included a 20-page opinion on Verizon’s green bond framework before the phone giant sold $1 billion in green bonds in February.The benefit of getting the second party opinion outweighed the cost, according to Kee Chan Sin, Verizon’s assistant treasurer.“It’s important to tie the green bond back to Verizon’s commitment to certain things like renewable energy and carbon neutral,” said Sin in a phone interview. “For some companies it might be expensive but for us it is money well spent.”What’s Green?Borrowers are taking advantage of the varying interpretations of green finance. Spanish refiner Repsol SA became the first major oil company to sell green bonds when it raised 500 million euros ($559 million) to help cut greenhouse-gas emissions and make its facilities more efficient in May 2017. That raised greenwashing concerns and led the Climate Bonds Initiative to exclude the debt from its database.Pepsi’s $1 billion green bonds -- marked for projects like sustainable plastics and packaging -- may be excluded from the Climate Bonds Initiative database if the company doesn’t provide more information on plastics. Bloomberg LP, the parent of Bloomberg News, also provides a green bond classification.Some borrowers are going a step further and asking auditors to review the use and management of proceeds, as well as reporting after the bond is issued. Assurance that funds raised are being allocated to the right projects could help the market grow, said Kristen Sullivan, sustainability and KPI services leader at Deloitte, which provides assurance to green bond issuers.Some investors are also doing their own audits.Large bond funds like Nuveen, which manages over $11 billion in responsible investing fixed-income strategies, are coming up with their own guidelines for identifying green bonds. The fund opted not to buy Verizon’s green debt because of “concerns around the lack of clarity on impact reporting and potential inclusion of 5G,” said Jessica Zarzycki, a co-manager of responsible investing fixed-income strategies at Nuveen.“You have to make sure what the issuer is promising is really what you are getting and everybody needs to do their homework,” said Zarzycki in a phone interview. “We’ve seen bonds that are labeled green and have second-party opinions where they don’t fit typically to our framework.”\--With assistance from Olivia Whalen, Bloomberg Global Data.To contact the reporter on this story: Caleb Mutua in New York at dmutua@bloomberg.netTo contact the editors responsible for this story: Nikolaj Gammeltoft at ngammeltoft@bloomberg.net, James Crombie, Allan LopezFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • AT&T Collaborates With University of Miami for 5G+ Solutions

    AT&T Collaborates With University of Miami for 5G+ Solutions

    AT&T (T) provides revamped 5G solutions and MEC at the University of Miami to promote innovative research, digital learning and development opportunities across various academic disciplines.

  • Zayo (ZAYO) Q1 Earnings & Revenues Miss Estimates, Fall Y/Y

    Zayo (ZAYO) Q1 Earnings & Revenues Miss Estimates, Fall Y/Y

    Lower revenues and higher operating expenses drag Zayo's (ZAYO) first-quarter fiscal 2020 earnings.

  • Qualcomm (QCOM) Q4 Earnings & Revenues Top, Decline Y/Y

    Qualcomm (QCOM) Q4 Earnings & Revenues Top, Decline Y/Y

    Despite year-over-year decline owing to a challenging macroeconomic environment, Qualcomm (QCOM) beats fourth-quarter fiscal 2019 earnings and revenue estimates.