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☆ Verizon CEO Hans Vestberg to Take Over Consumer Unit After Executive Exit
▼ + stars: | 2022-12-05 | by ( Drew Fitzgerald | ) www.wsj.com time to read: 1 min

CEO Hans Vestberg said he would focus on more consistency between Verizon’s network product and its operational results. Verizon Communications Inc. replaced consumer unit chief Manon Brouillette after a little less than a year in the role, the latest sign of the wireless company’s struggle to appeal to nonbusiness clients. The cellphone carrier said Monday that Chief Executive Hans Vestberg , 57, would assume the immediate responsibilities of Ms. Brouillette, 54. Mr. Vestberg said in a statement that he would focus “on driving a closer consistency between the top quality network product we’re bringing to market and the operational results we’re producing.”

☆ GM's BrightDrop signs first customer in Canada, unveils country's first large EV factory
▼ + stars: | 2022-12-05 | by ( Lisa Baertlein | ) www.reuters.com time to read: +2 min

REUTERS/Carlos OsorioDec 5 (Reuters) - The first electric delivery trucks rolled off production lines at BrightDrop's new factory in Canada on Monday, when the upstart unit of General Motors Co (GM.N) also announced DHL Express Canada (DPWGn.DE) as its first customer outside the United States. GM spent seven months and more than $2 billion transforming its 2 million-square-foot CAMI Assembly plant in Ingersoll, Ontario, into Canada's first large-scale electric vehicle (EV) factory for BrightDrop Zevo delivery trucks. It already has delivered 150 electric trucks to package carrier FedEx Corp (FDX.N). Those companies and many others have set goals to replace gas-burning delivery trucks and service vehicles with zero-emissions alternatives over time. DHL Express Canada's new relationship with BrightDrop "will help bring us closer to that target," CEO Andrew Williams said.

☆ FASB Again Aims for More Disclosure on Taxes From U.S. Companies
▼ + stars: | 2022-11-30 | by ( Mark Maurer | ) www.wsj.com time to read: +5 min

The Financial Accounting Standards Board on Wednesday said it wants companies to provide more information on their income taxes, the group’s latest attempt to give the public more detail on the companies they invest in. At least once a year, public companies have to disclose the amount of cash taxes they pay. Companies must also disclose their effective tax rate, or the ratio between their tax expense and their pretax income. The first proposal came in 2016 and would have required companies to distinguish their U.S. from their foreign income taxes, among other changes. This time, it sought a breakout of the amount of federal, state and foreign taxes public companies paid, as well as disclosure on a quarterly basis.

☆ Yahoo to buy minority stake in Taboola in advertising deal
▼ + stars: | 2022-11-28 | by ( Pablo Mayo Cerqueiro | David French | ) www.reuters.com time to read: +1 min

Nov 28 (Reuters) - Yahoo Inc will acquire a nearly 25% stake in advertising tech firm Taboola Inc (TBLA.O) and become its largest shareholder, the companies said in a joint statement on Monday, in a push to deepen advertising on their digital properties. As part of the partnership, Taboola will power native content and advertisements across Yahoo's sites for 30 years, while the U.S. tech company will get one seat on Taboola's board. Taboola's engine pushes links to articles paid by advertisers - known as native advertising - on sites of publishers including CNBC and NBC News. Taboola, whose shares surged 25% in pre-market trade on Monday, expects the deal to boost its revenue, EBITDA and free cash flow. Taboola said it will host a special general meeting on Dec. 30 to seek shareholders' approval.

☆ Cramer's lightning round: You ought to pass on Medical Properties Trust
▼ + stars: | 2022-11-21 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...Verizon Communications Inc : "I'm going to say it's fine. Loading chart...Medical Properties Trust Inc : "That yield's too high versus the rest of its cohort. So I'm going to say, you ought to pass on that." Loading chart...UiPath Inc : "I actually believe in the company, but that company is losing money. I am not going to compromise and suggest a company that is losing money."

☆ T-Mobile’s Outlook Improves After Customer Gains Top Rivals
▼ + stars: | 2022-10-27 | by ( Drew Fitzgerald | ) www.wsj.com time to read: 1 min

T-Mobile’s customer gains have led the wireless industry for most of the past two years. T-Mobile US Inc. said its cost and customer trends had improved heading into the end of 2022 after the company logged its strongest jump in core phone subscriptions since its merger with Sprint Corp. The cellphone carrier reported a net gain of 854,000 postpaid phone connections during the recent quarter, a postmerger record that outpaced both AT&T Inc. and Verizon Communications Inc. The tally topped the average estimate of 725,000 from analysts polled by FactSet.

☆ Verizon profit drops 23% as pricier plans result in subscriber loss
▼ + stars: | 2022-10-21 | by ( Eva Mathews | ) www.reuters.com time to read: +2 min

Oct 21 (Reuters) - Verizon Communications Inc (VZ.N) posted a 23% slide in third-quarter profit and missed market estimates for wireless subscriber additions on Friday, as several customers opted for cheaper plans from rivals AT&T Inc (T.N) and T-Mobile US Inc (TMUS.O). Verizon lost 189,000 monthly bill-paying phone subscribers in its consumer business in the quarter after the U.S. carrier raised prices for its plans in June through additional charges, which was over and above its already pricier plans. Register now for FREE unlimited access to Reuters.com RegisterVerizon added 8,000 net new monthly bill paying wireless phone subscribers in the quarter, well below Factset estimates of 35,400 additions. Telecom players are coming under increasing pressure to keep their plans affordable as rising cost of living crimps discretionary spending by customers. Total revenue, however, rose 4% to $34.2 billion, above expectations of $33.78 billion, according to Refinitiv data.

☆ Wall St rises as upbeat corporate forecasts trump UK political shock
▼ + stars: | 2022-10-20 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +4 min

The New York Stock Exchange building is seen from Broad Street in Lower Manhattan in New York, January 20, 2016. Fellow blue-chip stock Verizon Communications Inc (VZ.N) rose 2.3% after peer AT&T Inc (T.N) jumped 9.9% upon raising its annual profit forecast. However, the estimate is still sharply lower than an 11.1% increase that was forecast at the start of July. Advancing issues outnumbered decliners by a 2.38-to-1 ratio on the NYSE and by a 2.09-to-1 ratio on the Nasdaq. The S&P index recorded two new 52-week highs and 10 new lows, while the Nasdaq recorded 17 new highs and 104 new lows.

☆ S&P 500 to open lower as UK's Truss resigns as PM
▼ + stars: | 2022-10-20 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

The New York Stock Exchange building is seen from Broad Street in Lower Manhattan in New York, January 20, 2016. Truss's economic program had sent shockwaves through global financial markets and divided her Conservative Party just six weeks after she was appointed. Fellow blue-chip stock Verizon Communications Inc (VZ.N) shares added 0.9% after peer wireless carrier AT&T added 3.7% upon raising its annual profit forecast. However, the estimate is still sharply lower than an 11.1% increase that was forecast at the start of July. ET, Dow e-minis were up 19 points, or 0.06%, S&P 500 e-minis were down 5.75 points, or 0.16%, and Nasdaq 100 e-minis were down 39.25 points, or 0.35%.

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