Stocks making the biggest moves midday: Wendy’s, Starbucks, Maxar Technologies and more

The Wendy’s Co. logo is seen on a cup displayed for a photograph at a restaurant location in Daly City, California. J.P. Morgan called Maxar “a high-risk/high-reward opportunity” as the company is in the early stages of a turnaround plan. HD Supply Holdings— Shares of industrial distributor HD Supply tanked nearly 8% after missing analysts’ estimates for its second-quarter earnings. The company see earnings per share of $3.45 to $3.60 per share, compared to the consensus estimate of $3.58 a shar


The Wendy’s Co. logo is seen on a cup displayed for a photograph at a restaurant location in Daly City, California. J.P. Morgan called Maxar “a high-risk/high-reward opportunity” as the company is in the early stages of a turnaround plan. HD Supply Holdings— Shares of industrial distributor HD Supply tanked nearly 8% after missing analysts’ estimates for its second-quarter earnings. The company see earnings per share of $3.45 to $3.60 per share, compared to the consensus estimate of $3.58 a shar
Stocks making the biggest moves midday: Wendy’s, Starbucks, Maxar Technologies and more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, earnings, maxar, verizon, wendys, technologies, company, supply, wall, shares, starbucks, share, moves, midday, firm, making, fell, stocks, biggest


Stocks making the biggest moves midday: Wendy's, Starbucks, Maxar Technologies and more

The Wendy’s Co. logo is seen on a cup displayed for a photograph at a restaurant location in Daly City, California.

Check out the companies making headlines in midday trading:

Wendy’s— Shares of fast-food restaurant chain Wendy’s tanked more than 10% following a downgrade to neutral from buy from Guggenheim, citing Wendy’s “risky” entry into the breakfast food category. The firm said the new initiative is diluting free cash flow generation, as it caused the food company to slash its 2019 outlook.

Maxar Technologies— Shares of the space conglomerate jumped 12.8% after J.P. Morgan began covering the stock with an overweight rating and a price target of $12 a share. The price target, set for the end of 2020, represents a 70% gain in Maxar’s stock. J.P. Morgan called Maxar “a high-risk/high-reward opportunity” as the company is in the early stages of a turnaround plan.

Ford Motor— Ford Motor shares dropped more than 3% after Moody’s downgraded the auto maker’s credit rating to junk from investment grade. The credit agency cited potentially weak earnings and cash flow as Ford kicks off a long and costly restructuring program.

Starbucks— Shares of Starbucks fell 4% after the Wall Street Journal reported the coffee chain agreed to give information to the Securities and Exchange Commission about its accounting practices.

Dollar General— Shares of discount retailer Dollar General fell 2.5% following a downgraded from Bernstein to market perform from outperform. The firm said it sees sales and earnings growth as “less certain” than in the past. Bernstein said it prefers Dollar Tree as a defensive play.

Mosaic—Shares of fertilizer company Mosaic rose more than 4% after it announced a $250 million share buyback plan. Mosaic also said it would slow its phosphate operations in Louisiana because more imports into the country have pushed down prices.

Sanderson Farms— Shares of chicken producer Sanderson Farms fell more than 4% after the company received a subpoena related to the Department of Justice’s investigation into chicken pricing. The ongoing investigation is looking into allegations that poultry producers like Sanderson, Tyson Foods, and Pilgrim’s Pride conspired to fix poultry prices.

Mallinckrodt— Shares of pharmaceutical company Mallinckrodt soared more than 50% after the drugmaker sold its contract development and manufacturing unit BioVectra to an affiliate of private-equity firm H.I.G. Capital for about $250 million.

HD Supply Holdings— Shares of industrial distributor HD Supply tanked nearly 8% after missing analysts’ estimates for its second-quarter earnings. HD Supply reported revenue of $1.620 billion, compared to the $1.632 forecast by Wall Street analysts, according to FactSet. The company also issued full-year earnings per share guidance on the low end of the estimated range. The company see earnings per share of $3.45 to $3.60 per share, compared to the consensus estimate of $3.58 a share.

Verizon—Shares of wireless carrier Verizon popped 1.5% after being named to Citi’s “positive catalysts” watch list. Citi said it expects shares of Verizon to trade higher into the company’s next earnings report due to a low rate environment. Verizon is know for its high and stable 4.1% dividend yield.

— CNBC’s Michael Sheetz and Fred Imbert contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-09-10  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, earnings, maxar, verizon, wendys, technologies, company, supply, wall, shares, starbucks, share, moves, midday, firm, making, fell, stocks, biggest


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Verizon reportedly selling Tumblr to WordPress owner for nominal amount

Verizon reportedly selling Tumblr to Wordpress owner for nominal amount12:04 PM ET Tue, 13 Aug 2019CNBC’s “Squawk on the Street” crew discuss Verizon’s sale of Tumblr to Wordpress parent company Automattic.


Verizon reportedly selling Tumblr to WordPress owner for nominal amount12:04 PM ET Tue, 13 Aug 2019CNBC’s “Squawk on the Street” crew discuss Verizon’s sale of Tumblr to WordPress parent company Automattic.
Verizon reportedly selling Tumblr to WordPress owner for nominal amount Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: karina frayter
Keywords: news, cnbc, companies, squawk, street, selling, reportedly, verizons, sale, tumblr, nominal, verizon, owner, parent, wordpress


Verizon reportedly selling Tumblr to WordPress owner for nominal amount

Verizon reportedly selling Tumblr to WordPress owner for nominal amount

12:04 PM ET Tue, 13 Aug 2019

CNBC’s “Squawk on the Street” crew discuss Verizon’s sale of Tumblr to WordPress parent company Automattic.


Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: karina frayter
Keywords: news, cnbc, companies, squawk, street, selling, reportedly, verizons, sale, tumblr, nominal, verizon, owner, parent, wordpress


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Stocks making the biggest moves premarket: Verizon, GE, Yum, UPS, McDonald’s, American Air & more

Check out the companies making headlines before the bell:Advance Auto Parts – The autoparts retailer reported adjusted quarterly profit of $2 per share, missing the consensus estimate of $2.21 a share. JD.com – The China-based internet company reported a nearly 23% rise in quarterly revenue, more than expected, on growth in sales for its e-commerce business. Brinker International – The parent of Chili’s and other restaurant chains beat estimates by 2 cents a share, with adjusted quarterly profit


Check out the companies making headlines before the bell:Advance Auto Parts – The autoparts retailer reported adjusted quarterly profit of $2 per share, missing the consensus estimate of $2.21 a share. JD.com – The China-based internet company reported a nearly 23% rise in quarterly revenue, more than expected, on growth in sales for its e-commerce business. Brinker International – The parent of Chili’s and other restaurant chains beat estimates by 2 cents a share, with adjusted quarterly profit
Stocks making the biggest moves premarket: Verizon, GE, Yum, UPS, McDonald’s, American Air & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: peter schacknow, yun li
Keywords: news, cnbc, companies, revenue, making, forecasts, yum, moves, mcdonalds, quarterly, premarket, cents, adjusted, restaurant, verizon, sales, ups, service, ge, stocks, share, biggest, company


Stocks making the biggest moves premarket: Verizon, GE, Yum, UPS, McDonald's, American Air & more

Check out the companies making headlines before the bell:

Advance Auto Parts – The autoparts retailer reported adjusted quarterly profit of $2 per share, missing the consensus estimate of $2.21 a share. Revenue also fell short of forecasts in a quarter that the company called “challenging.” The company trimmed the high end of its full-year net sales and comparable-store sales outlooks.

JD.com – The China-based internet company reported a nearly 23% rise in quarterly revenue, more than expected, on growth in sales for its e-commerce business.

General Electric – CEO Larry Culp bought 331,684 shares of GE at an average price of $9.04 per share, according to a Securities and Exchange Commission (SEC) filing. That brings Culp’s total holdings to 942,668 shares.

Brinker International – The parent of Chili’s and other restaurant chains beat estimates by 2 cents a share, with adjusted quarterly profit of $1.36 per share. Revenue came in below forecasts, however. Brinker provided a better-than-expected earnings forecast for the current fiscal year.

Elanco Animal Health – Elanco reported adjusted quarterly profit of 28 cents per share, 2 cents a share above estimates. Revenue was slightly below forecasts. The Eli Lilly spinoff also narrowed its full-year earnings outlook, due to expected supply disruptions.

Verizon – Verizon is selling blogging website Tumblr for an undisclosed amount to WordPress.com owner Automattic. Verizon had acquired Tumblr as part of its purchase of Yahoo in 2017, and began seeking a buyer earlier this year according to The Wall Street Journal.

Yum Brands – Yum named Chief Operating Officer David Gibbs as its next CEO, effective in January when current CEO Greg Creed steps down. Creed will remain on the restaurant chain’s board of directors.

United Parcel Service – UPS named PepsiCo executive vice president Brian Newman as its new chief financial officer, effective September 16. Current CFO Richard Peretz will remain with the company through December to help with the transition.

Tencent Music – Tencent Music earned an adjusted 67 cents per share for its latest quarter, beating consensus estimates by 6 cents a share. The China-based music service saw revenue fall below analysts’ forecasts. It also saw monthly average revenue per user – a key metric – post its slowest-ever growth.

American Airlines – American Airlines won a permanent injunction against its mechanics union, which it had accused of staging illegal slowdowns. The mechanics have denied that accusation.

Constellation Brands – Constellation is selling its Canadian whiskey portfolio to Heaven Hill Brands for $266 million. The deal is expected to close during the second of 2019, as Constellation moves forward with its strategy of focusing on its premium products.

Akamai Technologies – Akamai announced a $1 billion convertible securities offering. The internet technology company intends to use $50 million from that sale to repurchase common stock.

D.R. Horton, KB Home, and PulteGroup – The three stocks were all rated “buy” in new coverage at SunTrust. Among other factors, the firm points to the growth potential of all three home builders.

McDonald’s – McDonald’s was rated “buy” in new coverage at MKM Partners, which believes that strong domestic and international sales growth is sustainable for the restaurant chain.

Netflix – Hedge fund Third Point raised its stake in the video streaming service by 25 percent during the second quarter, according its quarterly 13F filing with the SEC. Third Point now holds 500,000 Netflix shares. It also dissolved its stake in American Express.


Company: cnbc, Activity: cnbc, Date: 2019-08-13  Authors: peter schacknow, yun li
Keywords: news, cnbc, companies, revenue, making, forecasts, yum, moves, mcdonalds, quarterly, premarket, cents, adjusted, restaurant, verizon, sales, ups, service, ge, stocks, share, biggest, company


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Verizon CEO sees functioning 5G wireless in half the US next year

Eli Lilly confirms probe by New York’s Attorney General over…Eli Lily, the maker of blockbuster diabetes treatment Humalog, has been under scrutiny from U.S. lawmakers and the White House over the high cost of its life-saving…Health and Scienceread more


Eli Lilly confirms probe by New York’s Attorney General over…Eli Lily, the maker of blockbuster diabetes treatment Humalog, has been under scrutiny from U.S. lawmakers and the White House over the high cost of its life-saving…Health and Scienceread more
Verizon CEO sees functioning 5G wireless in half the US next year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, lilly, scrutiny, wireless, scienceread, sees, 5g, maker, lily, treatment, yorks, verizon, ceo, white, probe, functioning, overeli, half


Verizon CEO sees functioning 5G wireless in half the US next year

Eli Lilly confirms probe by New York’s Attorney General over…

Eli Lily, the maker of blockbuster diabetes treatment Humalog, has been under scrutiny from U.S. lawmakers and the White House over the high cost of its life-saving…

Health and Science

read more


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, lilly, scrutiny, wireless, scienceread, sees, 5g, maker, lily, treatment, yorks, verizon, ceo, white, probe, functioning, overeli, half


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Verizon was looking to sell Yahoo Finance

“We do not comment on rumors and speculation,” Verizon Media said in a statement on Thursday. We continue to invest in the expansion of live programming, audio programming and the recently launched Yahoo Finance Premium product.” Despite the epic erosion of usage and value of Verizon Media’s businesses, Yahoo Finance has remained a bright spot. Former Verizon Media Chief Executive Tim Armstrong had explored options for the media group, including buying it out from Verizon, news website The Infor


“We do not comment on rumors and speculation,” Verizon Media said in a statement on Thursday. We continue to invest in the expansion of live programming, audio programming and the recently launched Yahoo Finance Premium product.” Despite the epic erosion of usage and value of Verizon Media’s businesses, Yahoo Finance has remained a bright spot. Former Verizon Media Chief Executive Tim Armstrong had explored options for the media group, including buying it out from Verizon, news website The Infor
Verizon was looking to sell Yahoo Finance Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, portfolio, finance, launched, sell, media, recently, value, named, medias, looking, business, verizon


Verizon was looking to sell Yahoo Finance

Verizon earlier this year looked for buyers for Yahoo Finance, one of the most popular internet destinations for financial news and portfolio management tools, three people familiar with the matter told Reuters this week.

While the U.S. wireless carrier never launched an official sales process, it quietly solicited interest in Yahoo Finance even as it was revamping its media division, previously named Oath and recently renamed Verizon Media.

The company ended its search recently, said the sources, who declined to be named because the talks were private.

Yahoo has emerged as the centerpiece of Verizon Media’s plans to rescue the once-dominant collection of internet assets which has been in decline since the late 2000s.

“We do not comment on rumors and speculation,” Verizon Media said in a statement on Thursday. “Yahoo Finance is integral to Verizon Media’s growth strategy. We continue to invest in the expansion of live programming, audio programming and the recently launched Yahoo Finance Premium product.”

Yahoo and AOL are the two large brands within Verizon Media, which also owns news publication HuffPost, technology news sites Techcrunch and Engadget, as well as social media site Tumblr.

Despite the epic erosion of usage and value of Verizon Media’s businesses, Yahoo Finance has remained a bright spot. It was the most visited site in the business and finance news category in May, beating out Forbes and CNBC, and it has attracted over 100 million global monthly visitors on average this year, according to data from media analytics company comScore.

A separate source with direct knowledge of Verizon’s plans said the company is seeking to acquire more media assets to bolster its portfolio and Yahoo Finance’s business.

The source said Verizon had received unsolicited interest in Yahoo Finance but did not entertain the conversations.

Verizon Media has struggled with declining usage and revenue growth. Last year, Verizon wrote down the value of its media assets by $4.6 billion.

Verizon spent a combined $9.2 billion to buy AOL and Yahoo in 2015 and 2017, respectively. Former Verizon Media Chief Executive Tim Armstrong had explored options for the media group, including buying it out from Verizon, news website The Information reported last year.

Yahoo was a pioneer of the internet era in the 1990s. At its peak, the company’s market value in the late 1990s was more than $125 billion. AOL’s combined market value the day after it announced a $165 billion offer to buy Time Warner in 2000 was over $340 billion.

Walt Piecyk, an analyst who covers Verizon for research firm BTIG, said Verizon is focused on its wireless business and the media division has become an afterthought since Hans Vestberg was named Verizon’s chief executive officer last year.

“Whatever Verizon is able to sell (Yahoo Finance) for will not move the needle for the business,” he said.

It is unclear how much Verizon was hoping to reap from a sale of Yahoo Finance. Other news-publication deals could provide a benchmark for valuation. German digital publisher Axel Springer bought the 88% it did not already own of New York-based news publication Business Insider in 2015, in a deal that valued Business Insider at $442 million.

Last month, Yahoo Finance launched a premium subscription that offers advanced portfolio tools, research reports and investment ideas for $50 per month.


Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, portfolio, finance, launched, sell, media, recently, value, named, medias, looking, business, verizon


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Verizon CEO: We’re doing just fine without using any equipment from Chinese tech giant Huawei

Verizon CEO Hans Vestberg said Thursday that he’s not worried about the ongoing U.S.-China trade war impacting the company’s success. “We don’t use any Huawei equipment, and we have no impact from the Chinese trade war,” he explained. In May, the Trump administration effectively blacklisted China-based Huawei from doing business in the U.S., citing national security concerns. Huawei was pulled into the trade dispute between Washington and Beijing as the two nations race to construct next-generat


Verizon CEO Hans Vestberg said Thursday that he’s not worried about the ongoing U.S.-China trade war impacting the company’s success. “We don’t use any Huawei equipment, and we have no impact from the Chinese trade war,” he explained. In May, the Trump administration effectively blacklisted China-based Huawei from doing business in the U.S., citing national security concerns. Huawei was pulled into the trade dispute between Washington and Beijing as the two nations race to construct next-generat
Verizon CEO: We’re doing just fine without using any equipment from Chinese tech giant Huawei Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, tech, trump, chinese, worried, equipment, vestberg, using, china, fine, doing, giant, war, ceo, products, administration, hes, verizon, trade, huawei


Verizon CEO: We're doing just fine without using any equipment from Chinese tech giant Huawei

Verizon CEO Hans Vestberg said Thursday that he’s not worried about the ongoing U.S.-China trade war impacting the company’s success.

“We are executing our strategy with our Western European vendors,” Vestberg told CNBC’s Julia Boorstin from the annual Sun Valley media conference in Idaho. “It seems that you can do that without Huawei.”

Verizon has no reliance on China, he stressed. “We don’t use any Huawei equipment, and we have no impact from the Chinese trade war,” he explained. “So for us, this is a non-event.”

In May, the Trump administration effectively blacklisted China-based Huawei from doing business in the U.S., citing national security concerns. While President Donald Trump agreed last month to allow Huawei to purchase some U.S. commercial products as an incentive to restart trade talks with China, the White House remains adamant that the move is not a total reprieve.

Huawei was pulled into the trade dispute between Washington and Beijing as the two nations race to construct next-generation 5G wireless technologies. The Trump administration is worried about Huawei products getting embedded into U.S. networks and the potential for them to be used by China’s communist government for spying. Huawei has repeatedly denied that would ever happen.

As for Verizon’s 5G plans and the competition to build out U.S. capabilities? Vestberg said he’s not concerned. “We’ll compete, we already have the best 4G market.” He added, “We’ll just hammer on and execute.”


Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, tech, trump, chinese, worried, equipment, vestberg, using, china, fine, doing, giant, war, ceo, products, administration, hes, verizon, trade, huawei


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Stocks making the biggest moves premarket: Deutsche Bank, Verizon, Apple & more

Verizon — Verizon shares slipped 1% in the premarket after an analyst at Citi downgraded the telecom giant to “neutral” from “buy.” Apple — An analyst at Rosenblatt Securities downgraded the iPhone maker to “sell” from “neutral.” Best Buy — Best Buy was initiated with a “buy” rating and a price target of $80 per share by an analyst at Guggenheim. The analyst said Best Buy has a “stable ‘core’ addressable market,” as well as a “healthy and improving return profile.” Johnson Controls — J.P. Morgan


Verizon — Verizon shares slipped 1% in the premarket after an analyst at Citi downgraded the telecom giant to “neutral” from “buy.” Apple — An analyst at Rosenblatt Securities downgraded the iPhone maker to “sell” from “neutral.” Best Buy — Best Buy was initiated with a “buy” rating and a price target of $80 per share by an analyst at Guggenheim. The analyst said Best Buy has a “stable ‘core’ addressable market,” as well as a “healthy and improving return profile.” Johnson Controls — J.P. Morgan
Stocks making the biggest moves premarket: Deutsche Bank, Verizon, Apple & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-08  Authors: fred imbert
Keywords: news, cnbc, companies, making, biggest, deutsche, analyst, downgraded, stable, premarket, shares, buy, stocks, sales, controls, talks, moves, verizon, neutral, bank, apple


Stocks making the biggest moves premarket: Deutsche Bank, Verizon, Apple & more

Check out the companies making headlines in the premarket Monday:

Deutsche Bank — The German bank’s U.S.-listed shares traded 2.2% lower on news Deutsche would cut 18,000 jobs by 2022 in a massive restructuring effort to improve profitability. The bank will also shut down its global equities sales and trading business.

Verizon — Verizon shares slipped 1% in the premarket after an analyst at Citi downgraded the telecom giant to “neutral” from “buy.” The analyst said Verizon’s returns over the next 12 months will likely be limited by a high valuation and “rising long-term industry risks.”

Apple — An analyst at Rosenblatt Securities downgraded the iPhone maker to “sell” from “neutral.” The analyst said Apple will face a “fundamental deterioration” over the next six-to-12 months as iPhone sales disappoint and sales growth from other products slows down.

CrowdStrike Holdings — Several analysts initiated the cybersecurity company with positive ratings, sending its shares up more than 2% before the bell. Bank of America/Merrill Lynch said CrowdStrike is a “dominant force in endpoint security” while Needham called the company “one of the premiere native cloud security platforms.”

Best Buy — Best Buy was initiated with a “buy” rating and a price target of $80 per share by an analyst at Guggenheim. The analyst said Best Buy has a “stable ‘core’ addressable market,” as well as a “healthy and improving return profile.”

Johnson Controls — J.P. Morgan upgraded Johnson Controls to “neutral” from “underweight” as the company’s fundamentals become more stable relative to its peers. The analyst noted, however, that Johnson Controls’ challenges to operating leverage and low-quality earnings “keep our view balanced.”

Alphabet, Dish Network — The New York Post reported, citing sources, that Google and Dish were in talks to build the fourth mobile carrier in the U.S. The talks, however, are still in flux and could fall apart, the report said. Google has denied the report.

MSCI — MSCI dipped 1.2% after UBS downgraded the stock to “neutral” from “buy,” citing a substantial value expansion after a 64% surge to start the year.

—CNBC’s Michael Bloom contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-07-08  Authors: fred imbert
Keywords: news, cnbc, companies, making, biggest, deutsche, analyst, downgraded, stable, premarket, shares, buy, stocks, sales, controls, talks, moves, verizon, neutral, bank, apple


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Here are the biggest analyst calls of the day: Apple, Verizon, Best Buy, airlines & more

J.P. Morgan said the company’s fundamentals look more “stable.” Johnson Controls produces electronics and HVAC equipment for buildings. “We upgrade from UW to N on JCI, as the stock has de-rated and fundamentals look more stable now vs peers, with management executing the Battery divestiture in the least dilutive way possible (buybacks vs expensive M&A), lending confidence it will not overpay for premium valued assets. “


J.P. Morgan said the company’s fundamentals look more “stable.” Johnson Controls produces electronics and HVAC equipment for buildings. “We upgrade from UW to N on JCI, as the stock has de-rated and fundamentals look more stable now vs peers, with management executing the Battery divestiture in the least dilutive way possible (buybacks vs expensive M&A), lending confidence it will not overpay for premium valued assets. “
Here are the biggest analyst calls of the day: Apple, Verizon, Best Buy, airlines & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-08  Authors: michael bloom
Keywords: news, cnbc, companies, biggest, stock, way, airlines, best, analyst, stable, upgrade, vs, buy, produces, calls, uw, fundamentals, verizon, valued, day, apple, look


Here are the biggest analyst calls of the day: Apple, Verizon, Best Buy, airlines & more

J.P. Morgan said the company’s fundamentals look more “stable.” Johnson Controls produces electronics and HVAC equipment for buildings.

“We upgrade from UW to N on JCI, as the stock has de-rated and fundamentals look more stable now vs peers, with management executing the Battery divestiture in the least dilutive way possible (buybacks vs expensive M&A), lending confidence it will not overpay for premium valued assets. “


Company: cnbc, Activity: cnbc, Date: 2019-07-08  Authors: michael bloom
Keywords: news, cnbc, companies, biggest, stock, way, airlines, best, analyst, stable, upgrade, vs, buy, produces, calls, uw, fundamentals, verizon, valued, day, apple, look


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Verizon shares fall after Citi downgrades the stock, predicting lower wireless pricing ahead

Shares of Verizon fell on Monday following a downgrade from Citi citing potential lower wireless pricing in the future. Verizon shares fell more than 1% in premarket trading Monday. The wireless carrier space is narrowing with a potential merger between T-Mobile and Sprint on the horizon. Further, Verizon is at risk because the evolution of technology in the wireless carrier space is reducing costs, which is lowering the barrier to enter into the category, said Rollins. Shares of Verizon are onl


Shares of Verizon fell on Monday following a downgrade from Citi citing potential lower wireless pricing in the future. Verizon shares fell more than 1% in premarket trading Monday. The wireless carrier space is narrowing with a potential merger between T-Mobile and Sprint on the horizon. Further, Verizon is at risk because the evolution of technology in the wireless carrier space is reducing costs, which is lowering the barrier to enter into the category, said Rollins. Shares of Verizon are onl
Verizon shares fall after Citi downgrades the stock, predicting lower wireless pricing ahead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-08  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, pricing, verizon, potential, sprint, fall, lower, shares, downgrades, tmobile, carrier, predicting, margins, citi, stock, space, wireless


Verizon shares fall after Citi downgrades the stock, predicting lower wireless pricing ahead

Shares of Verizon fell on Monday following a downgrade from Citi citing potential lower wireless pricing in the future.

Citi downgraded the stock to neutral from buy and maintained its $62 price target. Verizon shares fell more than 1% in premarket trading Monday.

“Verizon’s consistently strong operating performance in the wireless category may not be enough to drive further multiple expansion at a time when investors are more likely to question the competitive environment and long-term risks to pricing and margins,” Citi’s Michael Rollins wrote in a note to clients.

The wireless carrier space is narrowing with a potential merger between T-Mobile and Sprint on the horizon. As new competitors come into the space without legacy pricing and with different margin goals, opportunities to expand margins are shrinking for Verizon, said Rollins.

A merger between T-Mobile and Sprint “creates a potentially disruptive fourth competitor [that] could be dilutive to long-term pricing and margins for the wireless industry,” said Rollins.

Rollins said that Verizon, which is the second-largest U.S. wireless carrier, should consider and is well positioned to purchase DISH, which “holds a disruptive amount of spectrum that can be used to build a scale network.”

Further, Verizon is at risk because the evolution of technology in the wireless carrier space is reducing costs, which is lowering the barrier to enter into the category, said Rollins.

Despite the downgrade, Citi said it is not concerned about Verizon’s upcoming quarterly results.

Shares of Verizon are only up 3% since the start of the year, while T-Mobile, Sprint and AT&T are all up about 20% year to date.

— With reporting from CNBC’s Michael Bloom


Company: cnbc, Activity: cnbc, Date: 2019-07-08  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, pricing, verizon, potential, sprint, fall, lower, shares, downgrades, tmobile, carrier, predicting, margins, citi, stock, space, wireless


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Huawei may demand more royalties from US firms that rely on its patented tech

Last week, Reuters reported that Huawei had asked Verizon to pay $1 billion in royalties for more than 230 of Huawei’s patents. Ren Zhengfei, the company’s CEO and founder, said this week that Huawei could seek royalties from more firms. How are firms using Huawei patents? “Huawei knows … enforcing patents and asking for royalties is expensive and also not their main business,” Pohlmann told CNBC. Huawei CEO told CNBC on Wednesday that if Senator Rubio’s law was passed, it would hurt America’s


Last week, Reuters reported that Huawei had asked Verizon to pay $1 billion in royalties for more than 230 of Huawei’s patents. Ren Zhengfei, the company’s CEO and founder, said this week that Huawei could seek royalties from more firms. How are firms using Huawei patents? “Huawei knows … enforcing patents and asking for royalties is expensive and also not their main business,” Pohlmann told CNBC. Huawei CEO told CNBC on Wednesday that if Senator Rubio’s law was passed, it would hurt America’s
Huawei may demand more royalties from US firms that rely on its patented tech Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: arjun kharpal
Keywords: news, cnbc, companies, company, patent, told, royalties, huawei, technology, verizon, demand, huaweis, firms, patents, tech, rely, patented


Huawei may demand more royalties from US firms that rely on its patented tech

Huawei may demand more royalties from U.S. firms for technology they’re using that’s been patented by the Chinese telecom giant, experts say, as the beleaguered firm looks to fight back against continued pressure from Washington. It would mark a big shift in strategy for Huawei, which typically is not seen as especially litigious in terms of intellectual property rights (IPR), even though it holds some crucial patents that underpin the world of telecommunication. Last week, Reuters reported that Huawei had asked Verizon to pay $1 billion in royalties for more than 230 of Huawei’s patents. The Wall Street Journal reported that the patents related to Huawei range from core network equipment to so-called internet of things technology — defined as physical devices that are linked to one another over the internet. The Verizon case is not a legal case at the moment. Verizon might not be the only company in the crosshairs of Huawei when it comes to patent disputes. Ren Zhengfei, the company’s CEO and founder, said this week that Huawei could seek royalties from more firms. “Over the past years, we were not aggressive seeking IPR royalties to companies that use our IPR — that’s because we were busy pursuing our business growth. Once we have more time off, we may try to get some money from those companies who use our IPR,” Ren said, adding that patents would not be used as a “weapon to hinder the development of human society.”

How are firms using Huawei patents?

Huawei has been effectively banned from selling telecommunications equipment in the U.S., but its technology is still being used by American firms via third parties that employ tech patented by Huawei.

A Huawei logo displayed at a retail store in Beijing. Fred Dufour | AFP | Getty Images

When next-generation mobile networks are created, such as 4G or 5G, global standards need to be agreed upon. These are essentially protocols for how the technology will work globally, so that there’s a systemic coherence that allows smartphones to communicate with networks. So-called standards bodies are tasked with doing this. Companies like Huawei — as well as rivals like Ericsson and Nokia — will contribute to building the architecture of mobile networks through these standards groups. In doing so, these companies devise technologies which they then patent. The patents, which are critical to the standards of say 4G or 5G, will be deemed a “standard essential patent” or SEP.

Huawei has been granted more than 69,000 patents globally related to everything from data transmission to network traffic management, according to data compiled for CNBC by Relecura, an intellectual property (IP) analytics platform. Another 49,379 patent applications are pending. Of those granted, over 57% are in China, while nearly 18% are in the U.S., Huawei’s second-largest market for patents. While the Chinese firm lagged other firms somewhat in terms of SEPs when it came to 4G, it is the leader in the 5G age. Huawei has the largest portfolio of patents for 5G — about 1,554 SEPs — and is ahead of Nokia, Samsung and LG Electronics, according to IPlytics, a market intelligence firm that tracks patents. So even though Huawei’s networking equipment is not being used by major telecom players in the U.S., other vendors that they buy products from could be using technology which is patented by Huawei. Given that Huawei owns so many key patents, the likelihood is that several other American carriers could also be using technology patented by the Chinese firm.

Why take action now?

Patent disputes are not uncommon in the technology and telecom world, and there have been a number of high-profile ones including between Apple and Qualcomm. Even Huawei’s rival Nokia was embroiled in a dispute with Apple in 2016. Huawei has not been particularly aggressive in bringing legal action against companies with regard to intellectual property. However, the thinking within the company could be changing given the continued political pressure, and the demand that Verizon pay $1 billion in royalties could be the first step. “There has been consideration about the role of IP and what it mean(s) in terms of the U.S. and Huawei,” a source at the company told CNBC. “Huawei in the near future will be briefing media and stakeholders about its IPR efforts around 5G,” added the source, who wished to remain anonymous because he is not authorized to speak publicly. Huawei declined to comment when contacted by CNBC. “We have no comment regarding this specific issue because it’s a potential legal matter,” Verizon spokesperson Richard Young told CNBC in an email. “However, these issues are larger than just Verizon. Given the broader geopolitical context, any issue involving Huawei has implications for our entire industry and also raise(s) national and international concerns.”

The U.S. has continued to pile pressure on the Chinese company. Huawei was recently added to a blacklist that restricts American firms from selling products to the company. Experts say this could threaten Huawei’s smartphone business. Huawei was forced to cancel a planned launch for a new laptop in June. The company relies on some key U.S. components for many of its devices. Huawei has also slashed its revenue forecast for the next two years, with CEO Ren saying that the company could take a $30 billion hit to sales as its troubles with the U.S. continue. “Huawei definitely knew about it,” Nikhil Batra, senior telecom research manager at IDC, told CNBC, suggesting the Chinese company was aware that Verizon was using its patents and could potentially extract royalties from the American telco giant. “This is going to be a longer battle. We can all go back … and say it is all coincidental, but there is a reason we haven’t seen this happen until now. It’s because, maybe, they were waiting for an opportune time to strike back,” Batra added. Tim Pohlmann, CEO of IPlytics, said that Huawei hasn’t typically focused on getting royalties, because it was growing very quickly in its smartphone and networking equipment business. But facing a complete ban in the U.S., as well as in some other countries, Huawei could look toward getting more revenue from patent royalties, he said. “Huawei knows … enforcing patents and asking for royalties is expensive and also not their main business,” Pohlmann told CNBC. “Royalties through patents is a small fraction compared to how much revenue they created through smartphones and base stations. But when the latter revenue stream is taken from them, this is just a logical consequence.” Pohlmann noted that this was similar to what Nokia did when their handset business was sold off in the early 2010s.

What’s the US trying to do?

It appears that Senator Marco Rubio has recognized Huawei’s potential to use patents against U.S. companies. On Monday, he filed legislation that would block Huawei from fighting patent disputes in U.S. courts, according to Reuters. That proposal is far from becoming a law. On Twitter earlier this week, Rubio accused Huawei of being a “patent troll.” Huawei CEO told CNBC on Wednesday that if Senator Rubio’s law was passed, it would hurt America’s image as a lawful place. “If his recommendation can get past to the Congress, then … the image of the U.S. as a country ruled by laws, would be damaged,” Ren said, according to a CNBC translation of his remarks in Chinese. Currently, Huawei would be able to fight any patent battles in U.S. courts. “Without any direct legislation by Congress on the issue, the United States federal court system will continue to be available to Huawei for patent infringement claims, just as it is available to any other company,” Robert Mattson, a U.S.-based intellectual property lawyer, told CNBC.


Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: arjun kharpal
Keywords: news, cnbc, companies, company, patent, told, royalties, huawei, technology, verizon, demand, huaweis, firms, patents, tech, rely, patented


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