Verizon CEO: FiOS Will Cover 18 Million Homes

Verizon (NYSE:VZ), which is about to resell Comcast (NASDAQ:CMCSA) and Time Warner’s (NYSE:TWC) video services, is close to the end of its 18M-home FiOS buildout, says CEO Lowell McAdam. But the company is aiming for a penetration rate of 50% in FiOS-covered locations, McAdam adds. Their success would certainly mean more hard times for cable providers.

Here’s how these stocks are trading on the news:

Comcast Corporation (NASDAQ:CMCSA): CMCSA shares recently traded at $23.13, down $0.06, or 0.26%. They have traded in a 52-week range of $19.19 to $27.16. Volume today was 14,399,520 shares versus a 3-month average volume of 19,856,200 shares. The company’s trailing P/E is 16.64, while trailing earnings are $1.39 per share.

Verizon Communications Inc. (NYSE:VZ): VZ shares recently traded at $38.31, down $0.01, or 0.03%. They have traded in a 52-week range of $32.28 to $38.95. Volume today was 12,104,641 shares versus a 3-month average volume of 15,775,100 shares. The company’s trailing P/E is 15.40, while trailing earnings are $2.49 per share.

Time Warner Cable Inc. (NYSE:TWC): TWC shares recently traded at $62.57, down $0.11, or 0.18%. They have traded in a 52-week range of $57.15 to $80.86. Volume today was 1,733,187 shares versus a 3-month average volume of 2,825,490 shares. The company’s trailing P/E is 14.45, while trailing earnings are $4.33 per share.