Verizon Communications - VZ STOCK NEWS

Verizon (NYSE, Nasdaq: VZ) has deployed an innovative program using artificial intelligence (AI) and machine learning to protect its fiber infrastructure from accidental damage. The system analyzes over 10 million annual 811 dig requests to identify high-risk excavations, potentially reducing up to several hundred fiber cuts yearly. This initiative highlights the importance of National Call Before You Dig Day on August 11th.

Verizon's AI strategy focuses on optimizing internal processes, enhancing products, and establishing AI-based revenue streams. The company owns and operates over 1 million miles of fiber, enough to wrap around Earth 40 times. This proactive approach aims to maintain customer connectivity and prevent costly repairs, demonstrating Verizon's commitment to leveraging advanced technology for improved service reliability.

Verizon is waiving domestic call, text, and data usage for postpaid consumer, small business, and prepaid customers in parts of Florida and Georgia affected by Hurricane Debby from August 6-12, 2024. The waiver applies to specific counties in both states. For prepaid customers using various Verizon-owned brands, service end dates are being extended to August 12, 2024.

Verizon is focusing on restoring service in areas affected by power outages. The company's macro cell sites have backup battery power, and most sites in the affected areas have backup generators. Engineers are working on repairs and ensuring continuous power supply through refueling efforts.

Verizon Business has released its 2024 Mobile Security Index (MSI) report, highlighting escalating risks in mobile and IoT security. Key findings include:

- 80% of organizations consider mobile devices critical to operations
- 95% actively use IoT devices
- 96% of critical infrastructure respondents use IoT devices
- 77% anticipate AI-assisted attacks are likely to succeed
- 84% have increased mobile device security spending

The report emphasizes the growing dependency on mobile and IoT devices, especially in critical infrastructure sectors, where security breaches can have severe consequences. It also highlights the emerging threats from AI-assisted attacks and the need for robust cybersecurity measures, including AI-assisted solutions.

Verizon Business has been awarded a 10-year, $176 million contract renewal by the Department of Homeland Security's Emergency Communications Division. The contract, initially awarded in 1993, involves providing Government Emergency Telecommunications Service (GETS) and Wireless Priority Service (WPS) for national security and emergency preparedness efforts. This renewal solidifies Verizon's position as a key strategic partner in improving mission-critical communication systems.

First responders from federal, state, and local public safety agencies can access Verizon's WPS through Verizon Frontline, a network designed specifically for their needs. Verizon's commitment to public safety includes a dedicated crisis response team and access to nearly 600 deployable communication assets nationwide. The Verizon Frontline Crisis Response Team offers 24/7 emergency assistance, providing portable cell sites, Wi-Fi hotspots, and other solutions to enable communications during crises.

Verizon (NYSE, NASDAQ: VZ) announced the accepted amounts and pricing terms for its private exchange offers of ten series of notes maturing between 2025 and 2028.

The new notes due in 2035 will be issued under the terms set in the Offering Memorandum and amendments dated July 22, July 30, and August 5, 2024. Withdrawal rights expired on August 2, 2024, with the Extended Early Participation Date set as August 19, 2024, which is also the Expiration Date unless extended or terminated earlier.

All conditions for the exchange offers were met, and the Early Settlement Date is August 9, 2024. The final settlement date will be two business days after the Expiration Date. The new notes, featuring a 4.780% coupon and totaling $2.165 billion, will mature on February 15, 2035.

Eligibility for the exchange is restricted to qualified institutional buyers and non-US persons. The new notes will not be registered under the Securities Act of 1933 and are not available to US retail investors.

Verizon Business announced the return of Small Business Days from August 5-11, offering special deals and tech consultations for small and midsize businesses. The event features:

• Free 5G phone for new business customers
• $30/month off select 5G Business Internet plans
• Free tech checks and personalized consultations
• 12 months of Business Internet Security Plus for new LTE Business Internet customers

The event coincides with National Black Business Month, highlighting Verizon's commitment to supporting diverse businesses. Verizon recently received the 2024 Corporate Partner of the Year award from the U.S. Black Chambers and aims to support one million small businesses by 2030 through initiatives like Small Business Digital Ready.

Verizon (NYSE, NASDAQ: VZ) announced early participation results for its private exchange offers of 10 series of notes maturing between 2025-2028. As of August 2, 2024, holders of the Old Notes tendered them for newly issued notes due 2035 (New Notes). The early participation deadline is extended to August 19, 2024, matching the expiration date of the offers.

The company will settle all Old Notes tendered by the original early participation date on August 9, 2024. The maximum aggregate principal amount of New Notes to be issued has not been exceeded, so Verizon will continue to accept Old Notes until the expiration date.

The final settlement date will be two business days after the expiration date. Eligible Holders can only access the Offering Memorandum if they meet specific criteria.

The New Notes will not be registered under the Securities Act and can only be offered or sold under specific exemptions. Global Bondholder Services serves as the Information Agent and Exchange Agent.

SIMPLE Mobile, a no-contract wireless provider on Verizon's network, has launched a -time promotion offering triple the data on select plans for new customers. The $25 plan now includes 15GB, the $30 plan 30GB, and the $40 plan 45GB of data. Additionally, SIMPLE Mobile has enhanced its Lifeline benefits, providing eligible customers with a $10 monthly discount on any plan. This allows qualifying Lifeline customers to get 15GB of high-speed data for just $15/month.

The company has introduced a QR code system for easy Lifeline enrollment at its 5,000 nationwide retailers. SIMPLE Mobile has also refreshed its brand with new fonts, designs, and colors. The company topped the recent Wave7 Research quarterly multi-carrier prepaid dealer survey as the top seller.

Verizon Communications Inc. (NYSE, NASDAQ: VZ) has announced an amendment to its previously announced private exchange offers for 10 series of notes. The key change is an increase in the spread used to determine the interest rate for the new notes, from 100 basis points to 107 basis points over the yield of the 4.375% U.S. Treasury Security due May 15, 2034. All other terms and conditions, including the Early Participation Payment and Early Participation Date (August 2, 2024, at 5:00 p.m. New York City time), remain unchanged. The exchange offers are being made solely through the Offering Memorandum and related documents, subject to applicable securities laws and regulations.