reports
Verizon remains ready amid the Mountain and Broad Fires
Verizon remains ready amid the Mountain and Broad Fires Year-round preparation ensures wildfire readiness, keeping Ventura County and Malibu communities connected IRVINE, Calif., Nov. 08, 2024 (GLOBE NEWSWIRE) -- The Mountain and Broad Fires are the latest wildfires to ignite in California, and Verizon remains committed to maintaining the safety and connectivity of communities, businesses, and first responders throughout affected areas in Ventura County and Malibu. As wildfires this year have increased in both number and severity, Verizon teams have employed advanced technology and read...
- Blair Levin
NSR Policy: Summarizing Policy Implications of Trump/Republican Victor...
In the previous two months, we published multiple notes on the implications of the election, projecting forward on what would likely happen to market impacting policies in the event of either a Trump or Harris Victory. Here, we link to those notes—you can quickly skip the Harris parts—as well as summarizing key points relating to the likely impact of a Trump victory. We note that the notes involving Musk were the ones we think most underrated (at least they were initially) and important. We a...
- Jan Frederik Slijkerman
- Jeroen van den Broek
- Jesse Norcross
- Nadège Tillier
- Timothy Rahill
Verizon announces tender offers for six series of debt securities
Verizon announces tender offers for six series of debt securities NEW YORK, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Verizon Communications Inc. (“Verizon”) (NYSE, NASDAQ: VZ) today announced the commencement of six separate offers to purchase for cash up to $3.5 billion aggregate purchase price of the outstanding series of debt securities (each a “Security” and collectively, the “Securities”) listed in the table below, labeled “Offers”. Verizon refers to each offer to purchase a Security for cash as an “Offer” and all the offers to purchase the Securities, collectively as the “Offers.” The Offe...
Verizon Business, TriMet delivering advanced mass transit capabilities...
Verizon Business, TriMet delivering advanced mass transit capabilities to Portland region PORTLAND, Ore., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Verizon Business today announced the activation of more than 740 new Fixed Wireless Access (FWA) lines with the Tri-County Metropolitan Transportation District of Oregon (TriMet), a transit agency providing bus, light rail, commuter rail, and paratransit service in the Portland metro region. delivers fast, reliable, and scalable wireless network connectivity. The ample bandwidth provided by FWA enables TriMet to leverage data-rich and mission-cr...
- Jonathan Chaplin
USM sells spectrum to AT&T
US Cellular has sold its 3.45GHz licenses and 700MHz licenses to AT&T for $1.0BN. The transaction isn’t a surprise. It follows closely on the heels of the sale of Cellular licenses to Verizon for $1.0BN. USM and TDS have been our favorite small ideas, and this transaction supports the thesis. We run through the implications of the transactions for the parties involved and for spectrum valuations generally in this brief note.
The Samsung Galaxy S24 Enterprise Edition: Your business’ new workhors...
The Samsung Galaxy S24 Enterprise Edition: Your business’ new workhorse What you need to know: Introducing the new Samsung Galaxy S24 Enterprise Edition, including a three-year Knox Suite license1.Switch and get a Galaxy S24 Enterprise Edition on us with a new line of service, device payment agreement and select Business Unlimited plan.2Or, new or existing customers can get a Galaxy S24 Enterprise Edition for $49.99 with a two-year agreement3. NEW YORK, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Today, Verizon Business is offering the new Samsung Galaxy S24 Enterprise Edition with a three-ye...
- Jonathan Chaplin
Autumn for Broadband 3Q24
In this installment of our Autumn for Broadband series, we provide a quick update on trends in the broadband market based on what we have seen from the companies that have reported so far. Adjusted for ACP, trends have improved quite significantly. We continue to expect further recovery next year, once the ACP headwind has passed.
- Jonathan Chaplin
Frontier Post-3Q24 Model Update
This note focuses on changes to the model following 3Q24 results. Earlier today, we published a comprehensive review of results. Our view of the company remains unchanged, whether as a standalone company or as an acquisition target. Intrinsic value is $64 (but they may only get $48.50 in a deal now).
- Jonathan Chaplin
FYBR 3Q24 Quick Take: Subscribers beat; EBITDA in line; all eyes on th...
Fiber deployment and fiber net adds were both exceptional. EBITDA was in-line, despite the strong growth (higher SAC from higher growth will have been a drag on EBITDA). If Frontier remains independent after November 13th, these results will provide strong support for management’s strategy and execution prowess.
- Jonathan Chaplin
BCE + Ziply: quick thoughts following the call
In this note we run through a full analysis of BCE’s acquisition of Ziply, and the implications for Frontier. BCE is paying a 55-117% premium to what Verizon is paying for Frontier, for an asset that is very similar. The Ziply transaction will make it harder to Frontier investors to accept $38.50, and easier for Verizon to offer more.
- Jonathan Chaplin
- Jonathan Chaplin
- Jonathan Chaplin
FYBR Quick Hit: ISS recommends that voters abstain
ISS has delivered a detailed analysis of the deal. They conclude that the board and management managed the deal process well, but that given the long time to close, investors will benefit from more time to assess it. They recommend that investors abstain from the vote. This has the same effect as voting against the deal.
Verizon and the East Side Mosquito Abatement District utilize technolo...
Verizon and the East Side Mosquito Abatement District utilize technology to fight mosquitoes MODESTO, Calif., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Verizon is providing reliable connectivity solutions to the East Side Mosquito Abatement District, supporting their mission to protect the Northern California community against mosquitoes and vector-borne diseases. Verizon’s reliable network boosts connectivity in the District (MDM) updates and manages field devices while its reliable network keeps them connected to one another. Aided by Verizon support personnel, the District can quickly and ea...
Verizon and Wounded Warrior Project® partner to support at least 1,000...
Verizon and Wounded Warrior Project® partner to support at least 1,000 veterans with upskilling Verizon and Wounded Warrior Project® are partnering to support at least 1,000 veterans with upskilling between Veterans Day 2024 and Veterans Day 2025.The partnership leverages Verizon’s free Skill Forward program, a university backed, self-paced education opportunity available for any US resident over 17.Verizon is committed to providing exclusive offers to active military, veterans and their families. Customers can take advantage of Mobile deals, discounts and savings with myPlan starting at ju...
- Jonathan Chaplin
- Jonathan Chaplin
FYBR: Company worth at least $63 / share, based on mgmt. forecast
We are grateful for management’s most recent arguments in favor of the current deal price. Management asserts that a DCF is the best approach to value the Company, given a dearth of good comps. We will focus this response on management’s approach to the DCF. We show that, based on management’s own forecasts, a DCF yields a standalone value of at least $63 / share. We show that the Company is worth at least $131 / share to Verizon. We will respond to management’s thoughts on comps in the nex...
- Jonathan Chaplin
- Jonathan Chaplin
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