New York, March 3, 2026, 15:24 EST — Regular session
Verizon Communications Inc (VZ) gained roughly 1.8% to close at $50.90 Tuesday in New York, after trading between $49.36 and $51.10. The Wall Street Journal said the telecom giant has been reviewing hundreds of millions in sponsorships across sports and music, including its $1 billion-plus, 10-year NFL agreement. A spokesperson pushed back, saying quitting the partnership is “not a goal and not the plan.” Wall Street Journal
The sponsorship review comes as CEO Dan Schulman pushes a broader overhaul focused on slashing service costs and sharpening where capital goes. Verizon, for its part, is sticking to its timeline—saying the Frontier Communications acquisition should wrap up in the first quarter of 2026. The company has positioned the deal as a key move in its broadband strategy.
There’s another marketing battle brewing, with T-Mobile firing back at Verizon in court. T-Mobile’s countersuit says Verizon’s “Better Deal” ads are classic “bait-and-switch” tactics. This follows Verizon’s own lawsuit, which targeted T-Mobile’s pitch that switching could save people over $1,000 a year. Both companies are going after each other for injunctions and damages, invoking the Lanham Act—the federal statute governing false advertising and trademarks. Reuters
AT&T shares picked up 2.3%. T-Mobile added close to 1.3%, echoing Verizon’s gains earlier in the session.
Speaking at a Morgan Stanley telecom conference on Monday, Schulman leveled with analysts: he hadn’t pursued the role. “Well, truthfully, I wasn’t excited about it,” he admitted. He sketched out his view of Verizon, calling it a “critical inflection point,” and noted the company has been ceding market share for five years. Investing.com
Schulman is banking on “convergence”—the strategy of packaging home broadband together with mobile plans—to keep customer churn in check. “Convergence can be either fixed wireless or fiber,” he said. Fixed wireless, which provides home internet through cellular networks instead of fiber cables, is a big part of that push. According to Schulman, Verizon’s churn rate drops by about 40% for customers who sign up for both offerings. By the end of 2025, fixed wireless subscribers topped 5.7 million. Broadband Breakfast
Traders are left wondering if Schulman can cut expenses without putting customer growth at risk, especially as carriers continue to roll out discounts and switching incentives. While the sponsorship review focuses on brand spending, it’s also part of a bigger argument: what’s the real price of acquiring, and holding onto, a wireless customer?
There’s a catch. Cutting back on splashy marketing frees up cash, but Verizon could fade into the background right when competitors ramp up their promos. The ongoing legal fight over advertising might not end soon, either. A stumble in how customers see its service—or a surprise price battle—would squeeze margins, and that puts the sector’s dividend appeal to investors at risk.
Verizon’s latest filing revealed that Senior Vice President and Controller Mary-Lee Stillwell unloaded 8,569 shares at $50 apiece on March 2. The sale, carried out through a Rule 10b5-1 plan set up back in November, was disclosed in the document.
Next, CFO Tony Skiadas is set to speak at Deutsche Bank’s annual media, internet and telecom conference on March 10. Investors are zeroing in on marketing spend, how broadband bundling is shaping up, and where things stand in the ongoing fight with T-Mobile.
