Juniper Hires JP Morgan to Field Bids and 4 Telecom Titans Attracting Interest
Verizon Communications Inc. (NYSE:VZ): Verizon Communications Inc. reported that their net income during the third quarter rose 15.5 %, to $1.59 billion from the period a year earlier. The company said revenue climbed 3.9 %, to $29 billion, in line with a survey of analysts’ expectations by FactSet. “In the third quarter, Verizon continued to deliver double-digit earnings growth and strong cash generation,” said Lowell C. McAdam, Verizon’s Chairman and Chief Executive, “and we remain solidly on track to meet our financial objectives for the year.”
Vodafone Group PLC. (NASDAQ:VOD): Verizon said it is “premature” to talk about Vodafone Group PLC.’s dividend.
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Alcatel-Lucent, S.A. (NYSE:ALU): According to Economic Times, who cited a French union, Alcatel-Lucent S.A. plans to cut 5,490 jobs worldwide as part of their cost cutting plan.
Juniper Networks, Inc. (NYSE:JNPR): According to Network World, who cited Benzinga.com, Juniper Networks, Inc. has reportedly hired JP Morgan (NYSE:JPM) to manage bids from potential buyers. Unnamed sources have stated that Juniper has received an offer in the “high $20s per share,” and EMC (NYSE:EMC) has been mentioned as a potential suitor.
Clearwire Corporation (NASDAQ:CLWR): Sprint (NYSE:S) disclosed, through a regulatory filing, that Sprint HoldCo delivered a response letter to Eagle River Holdings notifying them that they have decided to purchase 100% of the interests at the purchase price set forth in the ERH ROFO Notice. The Notice describes Eagle River’s intent to transfer 30.9 million shares of Clearwire Corporation’s (NASDAQ:CLWR) Class A common stock and 2.7 million shares of Class B common stock and a corresponding number of their Class B common interests. Sprint HoldCo said 100% of the interests are $100 million and would be paid from Sprint’s working capital.