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Mr. Cramer has backed Verizon
Damn, verizon losing fast this morning
Will we see 40 this week?
Verizon Statement on Gov. Schwarzenegger's Actions to Stimulate Broadband Growth in California
Saturday October 28, 9:43 am ET
THOUSAND OAKS, Calif., Oct. 28 /PRNewswire/ -- Gov. Arnold Schwarzenegger signed an executive order Friday (Oct. 27) streamlining the approval process for building high-speed networks in California and creating a task force charged with making sure the state is at the forefront of broadband infrastructure deployment. The following statement should be attributed to Verizon West Region President Tim McCallion:
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"We are encouraged by Gov. Schwarzenegger's executive order committing to increase broadband access and deployment of high-speed networks to benefit the residents and the economy of California.
"Verizon is already in the process of upgrading its network in California, investing hundreds of millions of dollars and creating thousands of jobs over the past two years to build an unparalleled fiber-optic network in our service territory.
"This all-fiber network already provides thousands of California households with new choices in television programming and data connections of up to 30 megabits per second. Networks like this will make possible the groundbreaking broadband applications of the future, such as the telemedicine technology that the governor showcased Friday."
Verizon Communications Inc. (NYSE:VZ - News), a Dow 30 company, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving nearly 55 million customers nationwide. Verizon Business operates one of the most expansive wholly-owned global IP networks. Verizon Telecom is deploying the nation's most advanced fiber-optic network to deliver the benefits of converged communications, information and entertainment services to customers. Based in New York, Verizon has a diverse workforce of more than 252,000 and generates annual consolidated operating revenues of approximately $90 billion. For more information, visit www.verizon.com.
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high quality video and images, and other information are available at Verizon's News Center on the World Wide Web at www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.
Source: Verizon Communications Inc.
Any idea why we had this big bump today?
wow, a new 52 week high, looking great
Verizon is looking mighty good this week. sitting nicely above 38 bucks. 9 dollars higher than the 52 week low
Yeah baby, going over 40 bucks by year's end conservativly
yeah, that's what I was figuring. Will find out soon enough
just wondering if it would be part of my 401k though
Question...as a verizon employee with a boatload of shares, will I get 1 share for every 20 I have of verizon to do with what I will? Anybody know how much the ipo is for?
AP
Verizon Board Backs Directory Spinoff
Wednesday October 18, 4:33 pm ET
By Bruce Meyerson, AP Technology Writer
Verizon Board Approves Spinoff of Print and Online Yellow Pages Business
NEW YORK (AP) -- Verizon Communications Inc. said Wednesday its board has approved the spinoff of the telephone company's print and online yellow pages business to stockholders as a new public company named Idearc Inc.
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Though the directories business is highly profitable, Verizon has decided to focus on its fast growing cellular operation and rewiring its traditional phone network with fiber-optic lines that can deliver cable TV and far faster Internet connections -- an initiative that will cost tens of billions of dollars.
The spinoff decision comes nearly a year after Verizon first disclosed it was considering a possible sale of the directories business or a distribution of shares in it to its own shareholders. This past July, Verizon indicated that a spinoff of that unit appeared more likely.
One share of Idearc, pronounced EYE-dee-ark, will be distributed as a dividend for every 20 shares of Verizon stock held by an investor at the close of business on Nov. 1. The distribution is scheduled to occur Nov. 17 and is expected to qualify as a tax-free transaction for shareholders. A proportional, taxable cash distribution will be paid to investors with fewer than 20 shares or holdings not divisible by 20.
Idearc, with revenue of $3.15 billion in 2005 would be based in Dallas and employ about 7,100 people. The operation prints 1,200 "yellow" or "white" page phone books with a total circulation of 116 million copies, including 1,100 Verizon-branded directories. The company says its online directory and search arm, SuperPages.com, has been queried for listings more than 2 billion times in 2006.
It wasn't immediately clear what value Idearc's shares might fetch on the market. A September filing with the Securities and Exchange Commission estimated that about 146 million shares of the directories business would be issued.
In that filing, the company estimated the directories business would be spun off with debt of $9.05 billion, or more than a quarter of Verizon's long-term debt of $32.03 billion at mid-year. The interest expense on that portion of the debt would have reduced last year's profit for the directories business by more than half to $551 million, the filing estimated.
The Idearc name is derived from "idea" and "arc," words that Verizon said symbolize how the directory business connects buyers and sellers.
Verizon reiterated Wednesday that, as previously announced, management expects to recommend to the board that the company maintain its quarterly dividend of 40.5 cents per share after the directories spin-off.
The company expects that a "when issued" public market for Idearc common stock will begin on or about Nov. 2 on the New York Stock Exchange under the symbol "IAR wi." Following the spin-off, Idearc common stock will trade under the symbol "IAR."
By contrast with Verizon's strategy, AT&T Inc. and its proposed partner BellSouth Corp. have said they see phone books and online search as a key source of future profit and growth. A year ago, the companies combined their online directory businesses and launched it as YellowPages.com.
Though it is a low-growth business, phone book publishers took in revenues of $14.7 billion last year, some generating profit margins in the 45 percent to 50 percent range, according to the Kelsey Group.
Verizon shares finished unchanged at $36.59 on the New York Stock Exchange. Its shares have traded in a 52-week range of $29.13 to $38.
Sounds good. can't wait to sell at 427 dollars per share next year, lol
Honestly, where do you guys see siri by december 31st? wondering if I should sell to get the tax deduction on my high position to cancel out the gains on my low position.
thanks, I will let you know how it works out
I have a question for subscribers to the gameznflix service. Does anybody find this company to be severly lacking in the customer service department as well as implementing the system? I had a missing game and have been emailing back and forth with them for weeks now, so they can remove the game and ship my next game.
Does anybody have a phone number for the company?
I own verizon and sirius, but subscribe to gamezflix for my xbox360, and figured I can get some info here.
thanks in advance
exactly
When are they saying cash flow break even should happen? Conservativly, do you guys think we can hit 5 this year?
What has to happen to get Siri back into the 4's and 5's? What's the next thing we need to hit?
Analysts Largely Upbeat on Verizon 'FiOS'
Thursday September 28, 3:29 pm ET
Analysts Welcome Verizon's Plan to Upgrade Telephone Network With Fiber Optic Cable
NEW YORK (AP) -- Analysts were largely optimistic about Verizon Communications Inc.'s announcement that it will cost $22.9 billion to upgrade its telephone network in an ambitious plan that will also save the company $4.9 billion between now and 2010.
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"Overall, we believe the company's decision to provide greater detail is a positive and provides investors benchmarks and targets" to measure its success," wrote Bear Stearns analyst Michael McCormack in a note to investors.
Verizon said Wednesday it will replace more than half of its old-fashioned copper network with fiber-optic cable over the next four years so it can support cable TV and high-speed Internet service.
The telecom service provider said on Wednesday it expects the "FiOS" project to generate positive operating income starting in 2009, ahead of some analysts' predictions.
UBS analyst John C. Hodulik, who rates the company "Buy," said Verizon's estimate of break-even earnings -- before interest, taxes, depreciation and amortization -- for FiOS in 2008 is at least six years sooner than his estimate.
Despite the upbeat comments, investors sent Verizon's shares only 15 cents higher on the New York Stock Exchange, to $36.93. The stock hit a 52-week high of $38 on Tuesday, ahead of the company's FiOS announcement.
Verizon also provided figures for its video subscriber base for the first time on Wednesday, saying it has 100,000 customers for the service, along with 500,000 high-speed data subscribers. The FiOS TV service is available at about 1 million homes, and Verizon said it wants to have 175,000 subscribers by the end of the year.
Hodulik said Verizon seems to be winning most of its subscribers from cable companies, "contrary to cable claims."
Traditional cable companies and telecom carriers are at war over who can gain the most multimedia customers, as phone companies overhaul their traditional networks and cable companies offer telephone and Internet services.
According to Standard & Poor's, cable operators now own about 55 percent of the U.S. broadband market, compared with about 45 percent owned by phone companies.
McCormack said Verizon's reported subscriber results "reflect the company's continued success attracting customers to both its fiber-based high-speed Internet service as well as the more nascent FiOS TV offering." He rates Verizon "Outperform."
Lehman Brothers analyst Jiong Shao said he was encouraged by Verizon's new long-term target of a 35 percent to 40 percent market penetration for FiOS Internet -- up from the earlier goal of 30 percent by 2010.
The analyst also welcomed Verizon's plans to expand future applications on the platform to include things such as gaming.
Taking a somewhat cautious view, Baird's William V. Power said while the company has made solid progress in its FiOS project, he remains concerned over the future return on investment. He kept his rating at "Neutral."
Verizon shares gained 17 cents, to $36.95 in afternoon trading on the New York Stock Exchange.
Just a small downturn today. Street is probably worried about the 20 billion verizon is spending. It will be worth it, this stock is taking off even more than it has the last month
another huge open, what is going on here? something big has to be coming that we don't know about yet
This stock has been a rocket for the last few weeks, especially this week. anybody have any idea why?
I'm assuming it is just the street starting to realize that the billions verizon has spent will pay off in spades in the end. Big things are coming in the next year, huge things. Buy and hold this stock and you will be rewarded big time
this is true
should push past 36 dollars this week. This stock is a rocket
been trying stern for 18 years, moved on.
New 52 week high today. Making some nice money now. Sticking to my mid 40's in 2007
just messing with ya anyway dude. good luck
if you would have cost averaged you would be up now
share price keeps rising, we will be in the 40's by year's end for sure
looks like we are blowing through 34 into 35 next week imo
Looking good today, not as good as xmsr, but at least they won't be dragging us down with them anymore. Great things to come very soon
You were bashing sirius dude, just scroll down and see
Give me the phone numbers of you investment buddies, and I will be sure to call em this time next year and laugh uncontrollably myself
We are looking really good the last couple of weeks. I think we can get into the 40's by year's end for sure. Big things coming
Maybe they will soon. I hear california is next
Long and strong on this, just adding on dips for now on
Thie fios numbers were hot. over 300K
Tommorrow should be a great day for VZ before open. Expect great earnings report
This is a huge deal for sirius. Siri going up, up, up, up
Press Release Source: SIRIUS Satellite Radio and Mitsubishi Motors North America
Mitsubishi to Make SIRIUS Satellite Radio Standard or Factory Option on All Models in 2007
Monday July 31, 8:00 am ET
SIRIUS to be Offered on Four Models This Fall and Full Vehicle Lineup Next Year
NEW YORK, and CYPRESS, Calif., July 31 /PRNewswire-FirstCall/ -- Mitsubishi Motors North America and SIRIUS Satellite Radio (Nasdaq: SIRI - News) today announced that Mitsubishi will offer SIRIUS as a standard feature or factory option on four models this fall, and throughout the entire 2008 Mitsubishi model line, available in the United States next year.
(Logo: http://www.newscom.com/cgi-bin/prnh/19991118/NYTH125 )
Source: SIRIUS Satellite Radio and Mitsubishi Motors North America
· Click Here to Download Image
This fall, SIRIUS will be standard equipment on the model year 2007 Galant RALLIART, Endeavor SE and all Raider LS and DuroCross double cab pickup trucks. On most other trim levels of the Galant, Endeavor and Raider and on the all-new Outlander, SIRIUS will be available as a factory option. All SIRIUS-equipped vehicles will include a six-month, pre-paid subscription.
"Mitsubishi is excited about adding SIRIUS to more of its vehicle lines as a standard feature or a factory option," said Mike Krebs, Vice President of Product Strategy at Mitsubishi Motors North America. "Our goal is to offer Mitsubishi customers the very best in-vehicle experience possible, and we believe that SIRIUS' unique programming greatly enhances our quality offering."
"Mitsubishi has been a great partner in the growth of SIRIUS, and we are very pleased that they have decided to expand the number of vehicle lines offering SIRIUS," said Mel Karmazin, CEO of SIRIUS. "Now, more Mitsubishi drivers will be able to experience for themselves the best programming available on radio."
About SIRIUS
SIRIUS delivers more than 125 channels of the best programming in all of radio. SIRIUS is the original and only home of 100% commercial free music channels in satellite radio, offering 67 music channels available nationwide. SIRIUS also delivers 61 channels of sports, news, talk, entertainment, traffic, weather and data. SIRIUS is the Official Satellite Radio Partner of the NFL, NBA and NHL and broadcasts live play-by-play games of the NFL, NBA and NHL. All SIRIUS programming is available for a monthly subscription fee of only $12.95.
SIRIUS products for the car, truck, home, RV and boat are available in more than 25,000 retail locations, including Best Buy, Circuit City, Crutchfield, Costco, Target, Wal-Mart, Sam's Club, RadioShack and at www.shop.sirius.com .
SIRIUS radios are offered in vehicles from Audi, BMW, Chrysler, Dodge, Ford, Infiniti, Jaguar, Jeep®, Land Rover, Lexus, Lincoln-Mercury, Mazda, Mercedes-Benz, MINI, Mitsubishi, Nissan, Rolls Royce, Scion, Toyota, Porsche, Volkswagen and Volvo. Hertz also offers SIRIUS in its rental cars at major locations around the country.
Click on www.sirius.com to listen to SIRIUS live, or to purchase a SIRIUS radio and subscription.
About Mitsubishi Motors North America, Inc.
Mitsubishi Motors North America, Inc., (MMNA) is responsible for all manufacturing, finance, sales, marketing, research and development operations of the Mitsubishi Motors Corporation in the United States. Mitsubishi Motors sells coupes, convertibles, sedans, sport utility vehicles, and light trucks through a network of approximately 540 dealers. For more information, contact the Mitsubishi Motors News Bureau at (888) 560-6672 or visit http://media.mitsubishicars.com .
Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions, future events or performance with respect to SIRIUS Satellite Radio Inc. are not historical facts and may be forward-looking and, accordingly, such statements involve estimates, assumptions and uncertainties which could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, any such statements are qualified in their entirety by reference to the factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2005 filed with the Securities and Exchange Commission. Among the key factors that have a direct bearing on our operational results are: our dependence upon third parties, including manufacturers of SIRIUS radios, retailers, automakers and programming partners, our competitive position and any events which affect the useful life of our satellites.
O-SIRI
Contacts:
Media
Rebecca Schnall
SIRIUS
212-901-6478
rschnall@siriusradio.com
Analysts
Paul Blalock
SIRIUS
212-584-5174
pblalock@siriusradio.com
Michelle McKinnon
SIRIUS
212-584-5285
mmckinnon@siriusradio.com
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Source: SIRIUS Satellite Radio and Mitsubishi Motors North America
huge things coming my friends