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Verizon (VZ)

Verizon Q3 Profit Falls, But Tops Estimates

Verizon Communications Inc. posted lower third quarter earnings reflecting higher merger and restructuring costs. Third-quarter net income attributable to Verizon was $2.89 billion, down 29.5% from $3.19 billion reported in the same period a year ago. On a per share basis, earnings fell 30.5% to $0.41 from $0.59 in the same quarter of last year. Operating revenues for the latest quarter advanced 10.2% to $27.3 billion from the previous year's revenue of $24.8 billion
Good news was that adjusted earnings and operating revenues surpassed Wall Street expectations.

Oct 26 · 9:49:00 AM · Source: FTT
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by Larry Etter

Sprint Nextel (S)

Sprint to Acquire Affiliate iPCS

Sprint Nextel Corp. (S) agreed to acquire affiliate iPCS Inc. for $426 million, the last of the major independent affiliates of Sprint, in a deal that will also end their legal battle.
IPCS had been arguing that Sprint's 2005 acquisition of Nextel violated an exclusivity agreement with iPCS, which is the Nextel affiliate in the territories in which it operates. IPCS has some 700,000 customers in seven states.

Oct 19 · 9:34:00 AM · Source: Wall Street Journal
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by Larry Etter

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