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Verizon Communications ( VZ ) and Yahoo ( YHOO ) are both slated to appear at the JPMorgan ( JPM ) Technology, Media and Telecom conference in Boston on Tuesday morning, with the phone company still viewed as the front-runner to buy the struggling Web portal. While it’s unlikely either company will comment on any such marriage, either one might comment on their strategy going forward if a deal falls through. Verizon acquired AOL for $4.4 billion last June. Verizon CEO Lowell McAdam is scheduled to give the morning keynote address. Yahoo CFO Ken Goldman is expected to take part in a question-and-answer session at 9:20 a.m. EST. McAdam doesn’t appear on Verizon earnings calls, leaving that chore to CFO Fran Shammo, but he did speak at Verizon’s annual shareholders meeting on May 5. When McAdam appear at venues such as Goldman Sach’s annual Communacopia conference in September, there’s usually news. At Communacopia, McAdam touted Verizon’s plans for 5G wireless services. Verizon CFO Shammo last week said that a six-week strike by nearly 40,000 wireline workers is beginning to impact Verizon’s financials . Yahoo’s Goldman might in general comment on Yahoo’s sale process, as he did at a Morgan Stanley conference in March. At that meeting, Yahoo’s Goldman defended the Internet pioneer’s strategy. Yahoo recently added four new independent directors to its board under pressure by activist investor Starboard Value. One question is whether Starboard will still push for a sale if reports prove accurate that bids are coming in lower than expected. The Wall Street Journal reported last week that Verizon or private equity firms might offer as little as $2 billion to $3 billion for Yahoo, when analysts had been estimating bids in the$4 billion to $8 billion range. CNBC’s David Faber on Friday, in a tweet, declared that report “completely wrong.” Berkshire Hathaway ( BRKA ) Chairman Warren Buffet , a noted investor who generally stays away from tech companies, might back a group led by Quicken Loans founder Dan Gilbert, if it makes a bid. Yahoo stock was up 1% in early afternoon trading in the stock market today , near 37, while Verizon stock was down nearly 1%. Scalper1 News
Scalper1 News