Verizon Reports In-Line $29.01B Revenues and 3 Morning Hot Stocks Trading Hands Now
Verizon (NYSE:VZ) reports in-line revenues ($29.01 billion) and EPS ($0.64) for its third quarter. Wireless revenues are up 7.3 percent to $19 billion while Wireline revenues are up 4.6 percent. Retail subscriber adds in the wireless segment are 1.8 million. It activated 6.8 million smartphones and rolled out 4G to over 250 million customers across 419 markets in the US.
Retailer Supervalu (NYSE:SVU) sees expressions of interest and is in active discussions with interested parties as a a part of its strategic review. Margins are under pressure and fall 80 bps to 21.4% of sales. Retail food sales decline by 7.3% annually to $5.2 billion.
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Netflix’s (NASDAQ:NFLX) launches its streaming services in Finland today, topping off previous launches during the week in Sweden, Denmark and Norway. Reed Hastings, Netflix co-founder and chief executive officer said, “Initial signups exceeded our expectations; the Nordic people have definitely shown that they are ready for the future of television.”
Blackstone (NYSE:BX) President Tony James rubbishes the suit alleging collusion between his company, KKR and others, saying “The lawsuit is a complete fabrication and a bunch of malarkey.” Another interesting comment from James: “I suspect there’s some political motivation lurking here because we have a private-equity guy running for president,” as reported by WSJ.
Investing Insights: Verizon Earnings: Here’s Why Investors Are Bidding Shares Up.