Verizon Communications Inc
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Communication Services : Diversified Telecommunication Services | Large Cap Value
Company profile

Verizon Communications Inc. is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its reportable segments are Verizon Consumer Group and Verizon Business Group. Its Consumer segment provides wireless and wireline communications services. Its wireless services are provided across wireless networks in the United States (U.S.) under the Verizon brand. Its wireline services are provided in nine states in the Mid-Atlantic and Northeastern U.S., as well as Washington D.C., over its fiber-optic network under the Fios brand and over a traditional copper-based network. Its Business segment provides wireless and wireline communications services and products, including data, video and conferencing services, security and managed network services, local and long-distance voice services and network access to deliver various Internet of Things services and products.


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Rivian IPO set to boost backers, including Ford, Amazon and more

8:30 am ET November 10, 2021 (MarketWatch)

Car maker Ford Motor Co.'s (F) ownership stake of 102.38 million shares of rival Rivian Automotive Inc. is worth about $8 billion, based on the $78 per share price of the electric vehicle maker's initial public offering on Wednesday. Rivian's other major shareholders include Amazon (AMZN), with 160.03 million shares valued at $12.5 billion; T. Rowe Price, with 133.67 shares worth $10.4 billion; Global Oryx Co. Ltd., with 113.93 million shares valued at $8.9 billion; and Manheim Investments Inc., with 39.3 million shares worth about $3.1 billion. Rivian's fully diluted market cap will be about $77 billion at its IPO price. At last check, Ford has a market cap of $80.5 billion, General Motors (GM) $86.5 billion and Tesla Automotive (TSLA) $1.17 trillion. With total proceeds of $11.9 billion, the IPO ranks as the largest of 2021. The company will trade on the Nasdaq under the symbol RIVN.

-Steve Gelsi


(END) Dow Jones Newswires

November 10, 2021 08:30 ET (13:30 GMT)

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