UPDATE: Macquarie Downgrades Verizon Communications (VZ) to Underperform; Analyst Strongly Prefers AT&T (T)
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AOL (AOL) Deal a Sign of 'Desperation' for Verizon (VZ), Macquarie Says
May 12, 2015 10:51 AM EDTMacquarie analyst Kevin Smithen weighed in on Verizon Communications (NYSE: VZ) after the company acquired AOL (NYSE: AOL) for $4.4 billion. The analyst said the move comes as Verizon arms for the video ad-tech battle versus Google and Facebook. He said the price tag was "hefty" and the deal shows signs of desperation for Verizon as its core wireless business comes under pressure... More
