Verizon Gives Galaxy S III LAUNCH Date and 4 Telecom Stocks Catching Eyes
Verizon Communications Inc. (NYSE:VZ): Verizon Wireless and Samsung Telecommunications America reported on Friday that the 4 gigabyte LTE-powered Samsung Galaxy S® III will be in Verizon Wireless Communications Stores and online at www.verizonwireless.com/galaxys3, beginning July 10th. Galaxy S III purchasers will gain access to the Verizon Wireless 4 gigabyte LTE network, which is available in 304 markets across the U.S. Verizon Wireless 4 gigabyte LTE should appear in 400 markets that cover 260 million people by the end of 2012.
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Vodafone Group plc’s (NASDAQ:VOD) 2008 offer to acquire 70 percent of Ghana Telecommunications Co. without negotiating the deal, was accepted by that country, said witness Issah Yahaya to a commercial court on Thursday, according to The Ghanaian Times. Yahaya, the former director of the Communications Ministry, told the court that senior government officials okayed the offer by the United Kingdom.-based firm within a day. In 2009, a government-commissioned inquiry revealed that a portion of Ghana Telecommunications Co.’s assets had been “grossly undervalued”. The lawsuit was brought by six plaintiffs who contend that the government’s decision to transfer assets, shares and equipment to Vodafone ran counter to the public interest and constituted an abuse of power.
Frontier Communications Corporation’s (NYSE:FTR) shareholders would prefer that the company control its expenditures and pay down its debt, following the prolonged $5.25 billion buyout of Verizon‘s (NYS: VZ) rural wireline assets that cover residents across 14 states. To avoid problems with the FTC, Frontier agreed to further expand the broadband capabilities of its network in rural communities. The action immediately made the company the biggest rural provider, but it also entailed sizable build-out costs that Verizon’s subsidiaries had previously been unable to handle. However, Frontier shareholders can be glad that its integration costs are for the most part done with, and now the company can focus on other aspects of its business.
Alcatel-Lucent, S.A. (NYSE:ALU) will post weak second quarter figures, says Citigroup, and also that management will reduce the firm’s fiscal year 2012 margin guidance to plus 1 percent, which is down 3 percent from plus 4 percent. Citi maintains a Sell with a price target of $1.25.
Juniper Networks, Inc. (NYSE:JNPR) had their price target at Muziho dropped from $20 to $17 in a note addressed to investors Friday. Mizuho has a Neutral rating on shares.
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