Financial Performance - Millicom's Q2 2025 service revenue was $1282 million, a 59% decrease compared to Q2 2024[66] - Adjusted EBITDA margin increased to 467% in Q2 2025 from 435% in Q2 2024, a 32 percentage point increase[18, 66] - Equity Free Cash Flow (EFCF) for H1 2025 was $395 million, up $126 million compared to H1 2024[67, 70] Key Growth Areas - Postpaid net additions reached 247000 in Q2 2025, compared to 178000 in Q2 2024[17] - Home net additions were 41000 in Q2 2025, compared to 11000 in Q2 2024[18] - Mobile service revenue organic YoY growth was 46% in Q2 2025[22] Strategic Initiatives - Millicom is pursuing strategic projects including infrastructure sales and a combination with Liberty Latin America[56] - The company is awaiting regulatory approval for the acquisition of Coltel (TEF) in Colombia and EPM stake in TIGO-UNE[58, 60] - Millicom closed the Paraguay towers deal with Atis Group in Q2 2025 and executed a partial closing with SBA, with the remaining SBA closing expected in Q3 2025[60] Financial Targets - Millicom targets Equity Free Cash Flow of around $750 million for 2025[89] - The company aims for leverage below 25x at year-end 2025[90] - Millicom plans a dividend of $300 per share, targeting to sustain or grow it every year, with an interim dividend of $250 per share[91]

Group 1 - Uniti Group's stock experienced a significant decline of 10.4% following the announcement of its second quarter financial results for the 2025 fiscal year [1] - The company operates in the telecommunications sector, which is currently facing challenges impacting shareholder value [1] Group 2 - Crude Value Insights provides an investment service focused on oil and natural gas, emphasizing cash flow and growth potential [1] - Subscribers to Crude Value Insights gain access to a stock model account, detailed cash flow analyses of exploration and production firms, and live discussions about the sector [2]

Financial Performance - TELUS reported consolidated operating revenues of $5 billion, a 3% year-over-year increase[35] - Adjusted EBITDA reached $1.8 billion, up 1% year-over-year[35] - Free cash flow increased by 11% year-over-year to $535 million[35] - Capital expenditures (excluding real estate) decreased by 2% year-over-year to $657 million[35] Customer Growth & Operations - Total customer additions were 198,000, with industry-leading postpaid mobile phone churn of 0.90%[8] - Mobile phone net additions were +55,000[10] - Connected device net additions were +112,000[10] - Internet net additions were +27,000[13] - TV net additions were +12,000[13] TELUS Health - TELUS Health external revenues grew by 16% year-over-year to $517 million[27] - TELUS Health Adjusted EBITDA increased by 29% year-over-year to $91 million[27] - TELUS Health covered 157.1 million lives, including 79.3 million added due to the Workplace Options acquisition and a change in definition[27] Strategic Initiatives - Strategic infrastructure expansion includes a $2 billion investment to expand PureFibre in Ontario and Quebec[8] - A definitive agreement was announced with La Caisse, who will acquire a 49.9% interest in Terrion for $1.26 billion[49] - Terrion is valued at over $2.5 billion and is expected to reduce TELUS' net debt by approximately $1.26 billion[49]

Core Viewpoint - Shenandoah Telecommunications Company has appointed Edward H. McKay as the new President and CEO, effective September 1, 2025, while Christopher E. French transitions to Executive Chairman of the Board [1][3]. Group 1: Leadership Transition - Edward H. McKay, currently the Executive Vice President and COO, will take over as President and CEO [2]. - Christopher E. French will remain involved in the company's strategy as Executive Chairman [1][3]. - The Board of Directors unanimously supported McKay's appointment, highlighting his experience and perspective for managing growth [3]. Group 2: Company Background - Shenandoah Telecommunications provides broadband services through advanced fiber optic and cable networks across eight states in the eastern United States [4]. - The company offers a range of services including broadband internet, video, voice, high-speed Ethernet, dark fiber leasing, and managed network services [4]. - Shenandoah Telecommunications has an extensive regional network with over 17,700 route miles of fiber [4].

Core Viewpoint - KT Corp. has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][2]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements [3][5]. - Institutional investors often adjust their valuations based on earnings estimates, leading to significant stock price movements when estimates are revised [3]. Business Improvement Indicators - The upgrade in KT Corp.'s rating suggests an improvement in its underlying business, which should encourage investors to drive the stock price higher [4]. - For the fiscal year ending December 2025, KT Corp. is expected to earn $2.76 per share, with a 6.2% increase in the Zacks Consensus Estimate over the past three months [7]. Zacks Rank System Overview - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have averaged a +25% annual return since 1988 [6]. - The upgrade of KT Corp. to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [9].

Financial Performance - Telefónica Group reported H1 2025 revenue of €18013 million, a decrease of 3.3% year-over-year, but an organic growth of 1.5%[20] - Service revenue reached €16263 million, down 3.3% year-over-year, with an organic increase of 1.6%[20] - The company's H1 2025 EBITDA was €5867 million, a 4.6% decrease year-over-year, but an organic growth of 0.8%[20] - Net Financial Debt stood at €27609 million, a decrease of 5.5%[20] - Free Cash Flow (FCF) from continuing operations was €291 million, a decrease of 42.4%[20] Strategic Initiatives - Telefónica is on track with its strategic review for H2 2025, focusing on customers, infrastructure advantages, industrial rationalization, and financial flexibility[13, 97] - The company is accelerating portfolio transformation in Hispam, with the sale of T Argentina for €12 billion and binding agreements for T Colombia (~€368 million), T Uruguay (FV ~€389 million), and T Ecuador (FV ~€330 million)[16, 17, 19] Operational Highlights - Spain experienced improved EBITDAaL-CapEx (+2.8%, +0.8% quarter-over-quarter) and consistent service revenue growth (+1.0%) and EBITDA growth (+1.0%)[22] - Brazil showed record EBITDA growth (+8.6%) since Q4 2023 and a robust EBITDAaL-CapEx margin (16.3%, +1.0 percentage points)[22] - Germany is focused on mitigating the impact of 1&1 migration, with commercial momentum and B2P transformation, achieving an H1 EBITDAaL-CapEx margin of 12.0% (+0.1 percentage points)[22] Guidance and Sustainability - The company reaffirmed its 2025 guidance, expecting organic revenue growth, organic EBITDA growth, organic EBITDAaL-CapEx growth, CapEx/Sales less than 12.5% organic, and FCF similar to 2024[25] - Telefónica Tech's revenue for H1 2025 was €1074 million, with an organic growth of 9.6%[78] - Telefónica Infra has 29.1 million FTTH JV premises passed, representing 35% of Telefónica's FTTH footprint[81]

Core Insights - Verizon will relocate its New York headquarters to Vornado's PENN 2 office tower as part of a 19-year lease, occupying nearly 200,000 square feet of office space [2][3] - The PENN 2 building features modern amenities, including over 25,000 square feet of outdoor space and a flagship retail location for Verizon [3][4] - Vornado's PENN DISTRICT aims to create a vibrant corporate environment, integrating dynamic workspaces and employee-focused design [4][6] Company Overview - Vornado Realty Trust is a fully integrated real estate investment trust (REIT) with a focus on premier office and retail assets in New York City, Chicago, and San Francisco [10] - The company emphasizes sustainability, with 100% of its in-service office buildings LEED certified and over 95% certified LEED Gold or Platinum [10] Project Details - PENN 2 includes a modern curtain wall, a triple-height lobby, and 30,000 square feet of curated retail space, along with extensive outdoor green spaces [4][5] - The PENN DISTRICT campus, which includes PENN 1 and PENN 2, offers a total of 4.4 million square feet of premium office space and improved access to public transportation [6][8] - Tenants in the PENN DISTRICT have access to Vornado's WorkLife program, which includes a comprehensive amenity package featuring a wellness center and flexible workspaces [7]

Core Viewpoint - Growth investors are increasingly focused on identifying stocks with above-average financial growth, which can lead to solid returns, but finding such stocks is challenging due to inherent volatility and risks [1] Group 1: Company Overview - Telefonica Brasil (VIV) is highlighted as a recommended stock due to its favorable Growth Score and top Zacks Rank [2] - The company has a historical EPS growth rate of 1.5%, but projected EPS growth for this year is expected to be 8.3%, significantly outperforming the industry average of 1.1% [5] Group 2: Key Growth Metrics - Earnings growth is a critical factor for growth investors, with double-digit growth being particularly attractive [4] - Telefonica Brasil has an asset utilization ratio (sales-to-total-assets ratio) of 0.44, indicating higher efficiency in generating sales compared to the industry average of 0.39 [7] - The company's sales are projected to grow by 1.2% this year, while the industry average is stagnant at 0% [7] Group 3: Earnings Estimate Revisions - Positive trends in earnings estimate revisions are correlated with stock price movements, and Telefonica Brasil has seen its current-year earnings estimates revised upward by 1.4% over the past month [9][8] - The combination of a Zacks Rank 2 and a Growth Score of B suggests that Telefonica Brasil is positioned as a potential outperformer for growth investors [11]

Core Viewpoint - The market anticipates a year-over-year decline in Telus's earnings despite an increase in revenues, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - Telus is expected to report quarterly earnings of $0.17 per share, reflecting a year-over-year decrease of 5.6%, while revenues are projected to be $3.68 billion, up 1.2% from the previous year [3]. Estimate Revisions - The consensus EPS estimate has remained unchanged over the last 30 days, indicating a stable outlook from covering analysts [4]. Earnings Surprise Prediction - The Most Accurate Estimate for Telus is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -6.63%, suggesting a bearish sentiment among analysts [12]. Historical Performance - In the last reported quarter, Telus exceeded expectations by posting earnings of $0.18 per share against an expected $0.15, achieving a surprise of +20.00% [13]. Over the last four quarters, the company has consistently beaten consensus EPS estimates [14]. Investment Considerations - Despite the potential for an earnings miss, other factors may influence stock performance, making it essential to consider the Earnings ESP and Zacks Rank before making investment decisions [15][16].

Core Viewpoint - Verizon is facing threats of legal action and a potential smear campaign from Byron Allen, a media mogul, after the company reduced its advertising budget with his media group, Allen Media Group (AMG) [1][5][10]. Group 1: Legal Threats and Advertising Budget - Byron Allen has threatened to sue Verizon for alleged racial discrimination after the company backed out of a $15 million annual advertising deal with AMG [1][10]. - Verizon claims that the threats from Allen and AMG are baseless and represent an attempted shakedown [4][5]. - The company plans to reduce its advertising spending with AMG by 30% in 2025 and 2026, bringing the budget down to $5 million from $15 million [10][11]. Group 2: Historical Context and Partnerships - Verizon and AMG previously collaborated on a diversity, equity, and inclusion initiative aimed at increasing media spending in Black-owned media companies [12][13]. - Allen has a history of suing major media companies for racial discrimination, having recently settled a $10 billion lawsuit against McDonald's [16][18]. - The political climate has shifted, impacting DEI programs, as seen in Verizon's agreement to end its DEI initiatives during its merger with Frontier Communications [15].