Page 25 - Aruba Today 18 April 2015
P. 25
A24
BUSINESSSaturday 18 April 2015
Verizon slices up the bundle, Greek ‘day of reckoning’ shakes Wall Street
lets customers choose plan BERNARD CONDON The Dow regained some revenue fell short.
AP Business Writer of those losses toward the Advanced Micro Devices
TALI ARBEL NEW YORK (AP) — Fear that close of trading, ending plunged 10 percent after
NEW YORK (AP) — Under pressure from an expand- Greece could default and down 279.47 to 17,826.30, a reporting a larger loss than
ing number of cheaper online video services, the abandon the euro is rat- drop of 1.5 percent. investors had expected af-
long-dominant bundle of channels offered by pay- tling global financial mar- That was only the worst ter the market closed on
TV companies is becoming a bit more flexible. kets. drop since March 25. The Thursday. The chipmaker’s
Verizon said Friday that it would let customers pick News that negotiations be- Dow has struggled since stock fell 29 cents to $2.58.
groups of channels that interest them, a plan that is tween Greece and its inter- reaching a record high on Investors have been brac-
separate from the traditional bundle that has been
offered to customers for years. Trader Jonathan Corpina, right, works on the floor of the New York Stock Exchange. Fear that
The penchant for pick-and-choose online video is re- Greece could default and abandon the euro is rattling global financial markets.
shaping pay-TV. More and more people, fed up with
large cable bundles with dozens of channels they (AP Photo/Richard Drew)
don’t watch and hate to pay for, are signing up for
cheaper streaming services like Netflix. Amazon.com national lenders are mak- March 2 and is now back ing themselves for a disap-
has also entered the game, as have HBO Now and ing little progress sent Euro- where it started the year. pointing earnings season.
Dish Network’s Sling TV. Apple is reportedly working pean stock markets down The Standard & Poor’s 500 Companies in the S&P 500
on its own version, too. sharply on Friday, and the index lost 23.81 points, or are expected to report
Verizon FiOS president Tami Erwin said on CNBC Fri- selling spread across the 1.1 percent, to 2,081.18. earnings per share fell 2.6
day that while she expects some existing customers Atlantic. By the close of The Nasdaq composite fell percent from a year earlier,
to switch to the new plan, it will also attract new cus- U.S. trading, stocks across 75.98 points, or 1.5 percent, according to S&P Capital
tomers. industries were lower, with to 4,931.81. IQ, a research firm. That
But the new FiOS Custom TV option is still fairly expen- four of five stocks down. Greece and its creditors would be the first drop
sive, starting at $55, and may not appeal to people Investors shifted money are still struggling to find since 2009.
who have already cut the cord, or who have never into German government a deal that can keep the Jim Paulsen, chief invest-
subscribed to cable TV packages, said Jefferies ana- bonds, a perceived haven country from defaulting on ment strategist at Wells
lyst Mike McCormack. in troubled times. its debt. The argument is Capital Management, said
“This is going to be more for people who just want In the U.S., disappointing over what reforms Greece stocks are now somewhat
less content,” he said. “To me this feels sort of like a first-quarter financial results should make in return for expensive compared with
half-step. I don’t think ‘cord-nevers’ have an interest, from several big compa- loans. Many think Greece earnings and, along with
frankly, in set-top boxes.” nies fed the selling. After will struggle to make pay- a list of other worries, the
If you want Internet too, the FiOS skinny TV deal plus American Express report- ments to the International news from Greece on Fri-
Internet costs $65 to $85 per month. It also doesn’t in- ed revenue that fell short Monetary Fund due next day proved just too much
clude taxes, equipment and other fees — but it’s not of expectations, investors month if it fails to reach a to bear. “When you have
a promotional price similar to those used by pay-TV drove down its stock more deal. more nervous investors,
companies to hook customers, including FiOS. than 4 percent. The concerns have caused news becomes magni-
On FiOS’ website, promotional prices for an Internet “The day of reckoning” for investors to demand higher fied,” he said. Worrisome
plus TV deal cost $75 to $85 per month for a two-year Greece is fast approach- rates for loaning money news out of China also
contract. That comes with more than 150 channels. ing, said Uri Landesman, to Greece’s government. weighed on investors. Af-
FiOS Custom TV, available Sunday, has a setup simi- president of investment The yield on the country’s ter markets closed in Asia,
lar to some new online entrants, although bigger, fund Platinum Partners. benchmark 10-year bond Chinese financial regula-
pricier and, of course, not an online video service. “People thought everyone jumped to 12.72 percent tors issued warnings about
Dish’s Sling TV Web service gives you about 20 chan- would work it out, but if no Friday. That rate has more that country’s soaring stock
nels for $20/month, with add-on options including one caves, there won’t be than doubled from 5.51 market. Regulators said
HBO for $15 and other pre-selected channel packs a deal.” percent in September. they will tighten rules on
for $5 each. Sony’s PlayStation Vue service, an online For all the turmoil in the In corporate news, Honey- borrowing to buy stocks.
package of more than 50 channels, starts at $50 a markets, major U.S. stock well International fell $2.22, They also plan to make it
month. indexes closed the day or 2 percent, to $101.70 easier for investors to bet
Verizon will give customers the option to buy a base with relatively modest loss- after reporting disappoint- against the market there,
package for about $55 with more than 35 channels es. At one point, the Dow ing first-quarter results. The The Wall Street Journal re-
— such as AMC, CNN and Food Network — plus two Jones industrial average industrial conglomerate ported. Shanghai’s stock
additional channel packs that have themes includ- was down 357, heading for posted earnings per share market has more than dou-
ing sports, children and lifestyle. You can add more its worst day in six months. that beat estimates, but its bled in the last year.q
packs, which have about 10 to 17 channels on av-
erage, for $10 each, and swap out packs after 30
days. There’s no contract required.
While momentum has been swinging toward stream-
ing services like Netflix, many industry watchers be-
lieve that traditional TV is changing, but not neces-
sarily facing extinction.
“This is more of an evolution than a revolution,” said
Nomura analyst Adam Ilkowitz. “This is not Verizon
saying the bundle is dead — there’s still a lot of bun-
dling attached to it. This is an acknowledgement
that consumer preference is maybe shifting.”
Only about 20 million households have access to
FiOS, which has 5.6 million video subscribers and 6.6
million Internet customers.
But the shift by Verizon Communications Inc. could
put pressure on bigger TV providers.
BUSINESSSaturday 18 April 2015
Verizon slices up the bundle, Greek ‘day of reckoning’ shakes Wall Street
lets customers choose plan BERNARD CONDON The Dow regained some revenue fell short.
AP Business Writer of those losses toward the Advanced Micro Devices
TALI ARBEL NEW YORK (AP) — Fear that close of trading, ending plunged 10 percent after
NEW YORK (AP) — Under pressure from an expand- Greece could default and down 279.47 to 17,826.30, a reporting a larger loss than
ing number of cheaper online video services, the abandon the euro is rat- drop of 1.5 percent. investors had expected af-
long-dominant bundle of channels offered by pay- tling global financial mar- That was only the worst ter the market closed on
TV companies is becoming a bit more flexible. kets. drop since March 25. The Thursday. The chipmaker’s
Verizon said Friday that it would let customers pick News that negotiations be- Dow has struggled since stock fell 29 cents to $2.58.
groups of channels that interest them, a plan that is tween Greece and its inter- reaching a record high on Investors have been brac-
separate from the traditional bundle that has been
offered to customers for years. Trader Jonathan Corpina, right, works on the floor of the New York Stock Exchange. Fear that
The penchant for pick-and-choose online video is re- Greece could default and abandon the euro is rattling global financial markets.
shaping pay-TV. More and more people, fed up with
large cable bundles with dozens of channels they (AP Photo/Richard Drew)
don’t watch and hate to pay for, are signing up for
cheaper streaming services like Netflix. Amazon.com national lenders are mak- March 2 and is now back ing themselves for a disap-
has also entered the game, as have HBO Now and ing little progress sent Euro- where it started the year. pointing earnings season.
Dish Network’s Sling TV. Apple is reportedly working pean stock markets down The Standard & Poor’s 500 Companies in the S&P 500
on its own version, too. sharply on Friday, and the index lost 23.81 points, or are expected to report
Verizon FiOS president Tami Erwin said on CNBC Fri- selling spread across the 1.1 percent, to 2,081.18. earnings per share fell 2.6
day that while she expects some existing customers Atlantic. By the close of The Nasdaq composite fell percent from a year earlier,
to switch to the new plan, it will also attract new cus- U.S. trading, stocks across 75.98 points, or 1.5 percent, according to S&P Capital
tomers. industries were lower, with to 4,931.81. IQ, a research firm. That
But the new FiOS Custom TV option is still fairly expen- four of five stocks down. Greece and its creditors would be the first drop
sive, starting at $55, and may not appeal to people Investors shifted money are still struggling to find since 2009.
who have already cut the cord, or who have never into German government a deal that can keep the Jim Paulsen, chief invest-
subscribed to cable TV packages, said Jefferies ana- bonds, a perceived haven country from defaulting on ment strategist at Wells
lyst Mike McCormack. in troubled times. its debt. The argument is Capital Management, said
“This is going to be more for people who just want In the U.S., disappointing over what reforms Greece stocks are now somewhat
less content,” he said. “To me this feels sort of like a first-quarter financial results should make in return for expensive compared with
half-step. I don’t think ‘cord-nevers’ have an interest, from several big compa- loans. Many think Greece earnings and, along with
frankly, in set-top boxes.” nies fed the selling. After will struggle to make pay- a list of other worries, the
If you want Internet too, the FiOS skinny TV deal plus American Express report- ments to the International news from Greece on Fri-
Internet costs $65 to $85 per month. It also doesn’t in- ed revenue that fell short Monetary Fund due next day proved just too much
clude taxes, equipment and other fees — but it’s not of expectations, investors month if it fails to reach a to bear. “When you have
a promotional price similar to those used by pay-TV drove down its stock more deal. more nervous investors,
companies to hook customers, including FiOS. than 4 percent. The concerns have caused news becomes magni-
On FiOS’ website, promotional prices for an Internet “The day of reckoning” for investors to demand higher fied,” he said. Worrisome
plus TV deal cost $75 to $85 per month for a two-year Greece is fast approach- rates for loaning money news out of China also
contract. That comes with more than 150 channels. ing, said Uri Landesman, to Greece’s government. weighed on investors. Af-
FiOS Custom TV, available Sunday, has a setup simi- president of investment The yield on the country’s ter markets closed in Asia,
lar to some new online entrants, although bigger, fund Platinum Partners. benchmark 10-year bond Chinese financial regula-
pricier and, of course, not an online video service. “People thought everyone jumped to 12.72 percent tors issued warnings about
Dish’s Sling TV Web service gives you about 20 chan- would work it out, but if no Friday. That rate has more that country’s soaring stock
nels for $20/month, with add-on options including one caves, there won’t be than doubled from 5.51 market. Regulators said
HBO for $15 and other pre-selected channel packs a deal.” percent in September. they will tighten rules on
for $5 each. Sony’s PlayStation Vue service, an online For all the turmoil in the In corporate news, Honey- borrowing to buy stocks.
package of more than 50 channels, starts at $50 a markets, major U.S. stock well International fell $2.22, They also plan to make it
month. indexes closed the day or 2 percent, to $101.70 easier for investors to bet
Verizon will give customers the option to buy a base with relatively modest loss- after reporting disappoint- against the market there,
package for about $55 with more than 35 channels es. At one point, the Dow ing first-quarter results. The The Wall Street Journal re-
— such as AMC, CNN and Food Network — plus two Jones industrial average industrial conglomerate ported. Shanghai’s stock
additional channel packs that have themes includ- was down 357, heading for posted earnings per share market has more than dou-
ing sports, children and lifestyle. You can add more its worst day in six months. that beat estimates, but its bled in the last year.q
packs, which have about 10 to 17 channels on av-
erage, for $10 each, and swap out packs after 30
days. There’s no contract required.
While momentum has been swinging toward stream-
ing services like Netflix, many industry watchers be-
lieve that traditional TV is changing, but not neces-
sarily facing extinction.
“This is more of an evolution than a revolution,” said
Nomura analyst Adam Ilkowitz. “This is not Verizon
saying the bundle is dead — there’s still a lot of bun-
dling attached to it. This is an acknowledgement
that consumer preference is maybe shifting.”
Only about 20 million households have access to
FiOS, which has 5.6 million video subscribers and 6.6
million Internet customers.
But the shift by Verizon Communications Inc. could
put pressure on bigger TV providers.
