telecom stocks

 

Call the Dalai Lama: Wall Streets Freaking Out

Cue the freakouts. Stocks fell today amid concerns about poor second-quarter earnings. We fully expect freakouts stemming from the short-term perspectives that govern how our financial system works. How we wish Zen perspectives would prevail. Anyway. AT&T Inc. (T) and Verizon Communications Inc. (VZ) closed down 1.59 percent and 1.82 percent, respectively. That happened after Sanford Bernstein […]

Nortel Creditors Clamor for Millions of Unpaid Dollars

Even though Nortel Networks Corp. (NT) execs knew the company was in financial trouble, they still racked up more than $50,000 worth of purchases at Texas Stadium, home of the Dallas Cowboys, in the 2008-2009 season. Those high-ranking company officials are accused of not paying for overpriced splurges on Jack Daniels, Crown Royal, Bud Light, an […]

Telecom Enjoys a Good Day on Wall Street

Finally, a good day on Wall Street for the telecom industry. Along with the rest of the market, the communications industry enjoyed a bounce – the Dow saw its largest one-day gain of 2009 today – as the Treasury unveiled its plan to help struggling banks. AT&T Inc.(T) and Verizon Communications Inc.(VZ) jumped the most […]

Bearish Bernstein Downgrade Slams AT&T, Verizon Shares

AT&T Inc. (T) and Verizon Communications Inc. (VZ) aren’t off to a happy new year. Both carriers’ stocks fell like drunken partygoers when Bernstein Research downgraded their ratings and price targets. Analyst Craig Moffett cut his ratings on AT&T’s shares to “market perform,” down from “outperform.” He also dropped the target price to $27 from $35. Similarly, […]

Downgrade Monday: AT&T, Alcatel, Nortel Slammed

AT&T Inc. (T), Nortel Networks Corp. (NT) and Alcatel-Lucent  (ALU) all closed down Monday after separate agencies downgraded the companies’ credit ratings. Goldman Sachs cut AT&T’s to Neutral from Buy, citing, among other reasons, “incremental operating challenges.” Nortel now sits just above junk status because, according to Moody’s, its “existing cash flow will be slowly depleted.” The […]

Qwest CEO: Weve Got the Dough for 2010 Debt

Ed Mueller, CEO of Qwest Communications International Inc. (Q), told analysts this week his company has enough room to deal with debt maturities that come due in late 2010. Reuters reports that Mueller says Qwest is generating free cash flow and could handle convertible debt of around $1.2 billion. Still, the Denver-based RBOC is watching its […]

Take an Aspirin: Recession is Official

Grab the aspirin, shred the 401(k) statements and turn the TV to a feel-good station: The recession ain’t going anywhere, so it’s best to get away from the bad news for a while. The nation found out yesterday that we’ve been in a recession for a year – no shocker for most of us. The, […]

S&P Hits Level 3 With Lowered Rating

A day after announcing it’s trying to raise $400 million with a tender offer, Level 3 Communications Inc.(LVLT) got bad news from Wall Street. Standard & Poor’s Ratings Services on Tuesday lowered its corporate credit rating on Level 3 to ‘CC’ from ‘B-‘. Analysts said they were responding to negative implications following Level 3’s announcement […]

Level 3 Shoots for $400M With Tender Offer

Level 3 Communications Inc. (LVLT) hopes to raise up to $400 million with newly announced tender offers. The Broomfield, Colo.-based carrier said Monday it will sell convertible senior notes to raise cash. It will use the cash to finance tender offers, which means stockholders sell their shares, likely above market price. If only personal finances worked […]

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