Verizon faces a concerning customer trend

The FCC advanced a proposal to open 482 MHz of spectrum for satellite-to-phone service, potentially benefiting SpaceX's Starlink Mobile. The vote initiates a public comment period, with final rules to follow. SpaceX seeks to compete with AT&T, Verizon, and T-Mobile, which oppose the inclusion of certain bands. SpaceX has acquired spectrum licenses to support its plans, targeting service launch in early 2028.

Verizon (VZ) shares trade near $43. Analysts cut price targets post-Q3 earnings, with a 12-month consensus at $50.56, suggesting 17% upside. Verizon added 406,000 postpaid subscribers and raised its earnings outlook, but faces debt and competition concerns.

Verizon reported 3Q 2026 revenue of $34.31B, up 1.5% YoY, with net income of $5.2B and EPS of $1.25. Consumer and Business revenues rose 1.3% and 2.6%, respectively. The company completed its $9.4B Frontier acquisition and plans a joint venture with BT.

Verizon Communications (VZ) launched five tender offers for up to $500M of outstanding notes, including series due in 2026, 2028, 2030, 2040, 2060, and 2061. The company will use a 'waterfall' methodology to accept notes, with offers expiring November 4, 2026. Accepted notes will receive accrued interest plus total consideration.

Verizon (VZ) launched five tender offers for up to $500M of outstanding notes, including 3.000% due 2060, 3.700% due 2061, 2.650% due 2040, and 2.100% due 2028. This may impact VZ's debt profile and investor sentiment.

Verizon, AT&T, and T-Mobile are urging the FCC to remove 290 MHz of spectrum from a proposal allowing satellite companies like SpaceX to offer direct-to-phone services. The FCC will vote on the proposal on October 29. SpaceX, which plans to use the spectrum for its Starlink Mobile service, opposes the carriers' request. The carriers argue the bands are crucial for their 5G networks, while SpaceX seeks to add another band and modernize interference rules.