Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving Cogent Communications Holdings, Inc. and its officers or directors [1] Financial Performance - On November 6, 2025, Cogent reported a year-over-year service revenue decline of nearly 6% for the third quarter of 2025 [3] - The company announced a drastic dividend cut of 98%, reducing it from $1.015 per share in the previous quarter to $0.02 per share [3] - Following the announcement, Cogent's stock price dropped by $13.35 per share, or 34.86%, closing at $24.95 per share on the same day [3]

Economic Environment - Economic uncertainty, easing interest rates, and increasing geopolitical tensions are key concerns for investors heading into the new year, prompting a focus on investment strategies that deliver steady income rather than cyclical upside [1] - Dividend-paying stocks, especially those yielding over 5%, are essential for building strong portfolios that balance income generation with long-term wealth creation, acting as a hedge against economic uncertainty [2] Investment Opportunities - Dependable income opportunities are found in core infrastructure businesses such as utilities, telecom, and pipelines, which are essential services with predictable demand, largely shielded from economic fluctuations [3] - These companies have resilient business models that allow them to generate steady operating cash flows and sustain dividend payouts across economic cycles [4] Company Highlights - Plains GP Holdings, L.P. (PAGP) is a holding company for Plains All American Pipeline, involved in the transportation, storage, and marketing of crude oil and natural gas liquids in the U.S. and Canada, with a disciplined investment strategy [6][7] - PAGP pays a quarterly dividend of 38 cents ($1.52 annualized) per share, yielding 8.09% at the current stock price, with a five-year dividend growth rate of 20.2% [8] - The AES Corporation (AES) is a global energy company investing in renewable energy solutions, with a 2025 adjusted EBITDA guidance of $2.65-$2.85 billion and plans to pay over $500 million in dividends [9][10] - AES pays a quarterly dividend of 17.59 cents (70 cents annualized) per share, yielding 5% at the current stock price, with a payout ratio of 34% and a five-year dividend growth rate of 4.3% [12] - Telefónica, S.A. (TEF) has launched a five-year strategy, Transform & Grow, targeting sustainable growth and operational evolution, with financial goals including €2.3 billion in savings by 2028 [13][14] - TEF has a dividend of €0.30 per share for 2025 and plans to allocate 40-60% of free cash flow to dividends for 2027-2028, with a current yield of 6.2% and a payout ratio of 76% [15]

Group 1 - Verizon Communications Inc. is recognized as one of the best telecom stocks to invest in, with Raymond James reaffirming its Outperform rating and setting a price target of $47, highlighting the company's strong dividend yield and potential for subscriber growth [1] - The company is analyzing legacy expenditures that are overdue for reduction, with plans to significantly cut or cancel ineffective initiatives such as Mobile Edge Compute, Internet of Things emphasis, and Private Networks, expecting benefits from these changes to appear between late 2026 and early 2027 [2] - Verizon has established a new 100G specialized optical ring for Monumental Sports & Entertainment, enhancing the network infrastructure of the Monumental Sports Network, and has successfully completed the sale of €2.25 billion and £1 billion in subordinated notes due in 2056, involving major financial institutions like BNP Paribas and Goldman Sachs [3]

Core Viewpoint - The article highlights three companies offering high dividend yields significantly above the S&P 500 average, which is currently around 1.1% [1] Group 1: Starwood Property Trust - Starwood Property Trust leads with a 10.3% dividend yield, supported by a diversified portfolio of income-producing properties and real estate-backed loans [3][4] - The REIT has maintained its dividend for over a decade and recently expanded its portfolio through a $2.2 billion acquisition, which includes 467 properties with a 17-year weighted average lease term and a 2.2% average annual rent escalation [4][6] - Starwood has made $10.2 billion in new investments in 2025, including a record $800 million in infrastructure lending, which supports its ability to continue paying high dividends [6] Group 2: Western Midstream Partners - Western Midstream Partners offers a 9.2% yield, generating stable cash flow from energy midstream infrastructure backed by long-term contracts [7][9] - The MLP expects to produce between $1.3 billion and $1.5 billion in free cash flow this year, sufficient to cover its distribution payments and capital expenditures [9][10] - The company has a strong balance sheet with a leverage ratio of 2.8 times and recently completed a $2 billion acquisition, which contributed to a 13% increase in its payout this year [9][10] Group 3: Verizon - Verizon provides a 6.8% yield, with a history of increasing its dividend for 19 consecutive years, supported by recurring revenue from mobile and broadband contracts [11][12] - The company generated $28 billion in cash flow from operations in the first nine months of the year, covering capital spending and dividend payments with a surplus of $7.2 billion [13] - Verizon anticipates generating more free cash flow in 2026 and is working on a $20 billion acquisition of Frontier Communications to enhance its service offerings [14]

Core Viewpoint - GCI Liberty, Inc. has successfully completed its rights offering, raising approximately $300 million for various corporate purposes, including potential strategic acquisitions and debt management [1][2]. Group 1: Rights Offering Details - The rights offering was fully subscribed, resulting in the issuance of 11,059,127 shares of Series C GCI Group common stock [2]. - Approximately 95% of the shares were subscribed through validly exercised basic subscription privileges, with remaining shares allocated pro rata to oversubscribing rightsholders [2]. - The shares purchased in the rights offering were issued on December 23, 2025, with refunds for unfulfilled oversubscriptions expected to be distributed around the same date [3]. Group 2: Company Background - GCI Liberty, Inc. is the parent company of GCI, LLC, which is Alaska's largest communications provider, serving over 200 communities [5]. - The company has invested $4.7 billion in its network and facilities in Alaska over the past 45 years, focusing on expanding and strengthening its statewide network infrastructure [5][6].

Valued at a market cap of $167.9 billion, Verizon Communications Inc. (VZ) is a telecommunications company that provides wireless, broadband, and wireline communication services to consumers, businesses, and government clients. The New York-based company is expected to announce its fiscal Q4 earnings for 2025 before the market opens on Friday, Jan. 30. Ahead of this event, analysts expect this telecommunications giant to report a profit of $1.06 per share, down 3.6% from $1.10 per share in the year-ago q ...

Summary of Key Points from the Conference Call Industry Overview - The report focuses on the **US Equity Strategy** and provides insights into various sectors and industry groups, particularly for Q1 2026. The analysis is conducted by **Citi Research**, a division of Citigroup Global Markets Inc. Sector Recommendations - **Overweight Sectors**: - Health Care [4] - Financials [4] - Information Technology [4] - **Market Weight Sectors**: - Utilities [4] - Industrials [4] - Energy [4] - Real Estate [4] - Communication Services [4] - Media & Entertainment [4] - Telecommunications Services [4] - Consumer Durables & Apparel [4] - Consumer Services [4] - Transportation [4] - **Underweight Sectors**: - Consumer Discretionary [4] - Consumer Staples [4] - Automobiles & Components [4] - Food Beverage & Tobacco [4] - Household & Personal Products [4] Key Insights - **Balanced Approach**: The strategy emphasizes a balanced approach to Growth, Cyclicals, and Defensives, with a focus on sectors that show persistence or signs of inflecting growth [5] - **AI Influence**: The report highlights the increasing focus on AI adopters/users, particularly within the Information Technology sector, which remains overweight due to Semiconductors and Software [7] - **Cyclical Definition**: Financials are viewed as a key cyclical sector, driven by solid fundamentals and attractive growth setups [8] - **Defensive Cohort**: Health Care is upgraded to overweight due to reduced policy uncertainty, while Utilities are lowered to market weight due to traditional rate sensitivity [9] - **Consumer Discretionary Concerns**: The sector is underweight due to reliance on major players like AMZN and TSLA, with concerns over consumer conditions and delayed tariff impacts [18] Performance Metrics - **SIGN Portfolio Performance**: The SIGN recommendations led to a relative performance of 430 basis points above the S&P 500 year-to-date [14] - **Sector Weight Recommendations**: The report provides detailed weight recommendations for various sectors and industry groups, indicating a strategic shift towards sectors with better growth prospects [23] Valuation Insights - **Valuation Metrics**: The report discusses valuation metrics for various sectors, indicating that while traditional metrics are high, the valuation composite for Media & Entertainment is more constructive [52] - **Telecommunications Services**: This sector is noted for its attractive valuation setup despite uninspiring fundamentals [33] Sentiment and Trading - **Positive Sentiment**: There are positive revisions for EPS and sales in the Media & Entertainment sector, with more insiders buying than selling [54] - **Trading Dynamics**: The report notes strong relative price momentum in the Media & Entertainment sector, although short interest is starting to increase [66] Conclusion - The report outlines a strategic shift towards a more balanced investment approach across sectors, with a focus on growth, cyclical, and defensive sectors. The emphasis on AI and the performance of major companies in the Consumer Discretionary sector are critical factors influencing investment decisions moving into Q1 2026.

Market Performance - Equity benchmark indices Sensex and Nifty started trading positively, with Sensex rising by 482.7 points (0.56%) to 85,412.06 and Nifty increasing by 160.2 points (0.61%) to 26,126.60 [1] - Major gainers included Infosys, Tata Steel, Tech Mahindra, Trent, HCL Tech, and Bharti Airtel, while UltraTech Cement and Power Grid were the only laggards [2] Foreign and Domestic Investment - Foreign Institutional Investors (FIIs) purchased equities worth ₹1,830.89 crore, while Domestic Institutional Investors (DIIs) bought equities worth ₹5,722.89 crore in the previous trade [2] - The participation of DIIs has been effective in absorbing selling pressure, while FIIs turning net buyers has boosted market confidence [4] Market Outlook - Analysts suggest a potential year-end rally driven by a reversal in the rupee and increased FII buying in the cash market, which could lead to short covering and higher benchmark indices [3] - Brent crude oil prices increased by 0.73% to $60.91 per barrel, which may influence market dynamics [3]

Telecom Italia won a long-running legal case against the Italian government that will provide the former phone monopoly with a windfall of about €1 billion https://t.co/aIxjOavECk ...

Core Insights - Three stocks are highlighted with strong income characteristics and a buy rank for investors to consider on December 18 Group 1: Norwood Financial Corp. (NWFL) - This bank holding company for Wayne Bank has seen a 16.6% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - The company has a dividend yield of 4.2%, which is higher than the industry average of 2.4% [1] Group 2: America Movil (AMX) - This telecommunications services provider has experienced a 7.8% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - The company offers a dividend yield of 2.7%, slightly above the industry average of 2.6% [2] Group 3: Garrett Motion Inc. (GTX) - This company, which specializes in turbocharger and electric-boosting technology for light and commercial vehicle original equipment manufacturers, has seen an 8.9% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [3] - The company has a dividend yield of 1.9%, compared to an industry average of 0.0% [3]