The wireless communication world is about to receive a new entrant, as the country's third-largest cable company will start a cellular network in three areas today. The company? Cox Communications.

Before you think that this wireless network will be available across the U.S., Cox's wireless offerings will be available in Orange County, California; Omaha, Nebraska; and Hampton Roads, Virginia. These three locales are where Cox is the local cable company, and they hold roughly 1.5 million residents.

Slow growth/dividend play Verizon Communications (VZ), first discussed here on February 12, 2009, at a price of $29.86, is registering more growth than expected, and I obviously still like the shares here.

Moreover, Verizon's chart appears to be forming a cup-with-a-handle -- a bullish formation.

Verizon will likely post 2% to 2.5% revenue gain in 2011, after flattish revenue in 2010, with data services being the key revenue increase driver. Cell phone subscriber additions should lead the sector, but competition may hurt overall subscription prices. Further, if unlimited service for a flat fee becomes the sector norm, that would further dent wireless revenue. As of June 2010, Verizon had 93 million wireless subscribers, with another 8 million devices connected to its network. A rock-solid $1.95 annual dividend – good for a 6% yield at the current stock price of about $32.50 -- adds to the positive mix.

Verizon Communications (VZ) is down over 2% as I write this. Shares are exchanging hands for $31.79. Volume isn't that impressive, but we'll have to see where it ends up when the trading day is completed (there's still over two hours to go before the bell is rung).

According to the Associated Press, the telecom entity reported adjusted income of 56 cents per share for the third quarter. Expectations were set at 54 cents per share. So management was able to beat the analysts.

Daily market news shows stocks pulled back on Thursday, as 50 state attorneys general are looking into allegations that thousands of home foreclosures were improperly handled. Financials were hard hit with both big banks and regionals falling on the news.

JPMorgan Chase & Co. (JPM) fell 2.6%, Bank of America Corp. (BAC) was off 5.2%, and Wells Fargo & Co. (WFC) fell 4.2%. Regional banks like BB&T Corp. (BBT) and SunTrust Banks Inc. (STI) fell 2.14% and 4.23%, respectively.

Clearwire (CLWR - option chain) shares are rising today on reports that the company will auction some of its wireless spectrum in order to raise $2.5 billion to $5 billion. According to Bloomberg, potential bidders for the spectrum include AT&T (T), Verizon (VZ), Deutsche Telekom, Time Warner Cable (TWC) and Sprint (S). If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on CLWR.

Tech giant Apple (AAPL) finds itself face to face with the $300 level as we approach the opening bell Wednesday. [UPDATE: Apple opened at $300.20.] Tuesday, the tech titan finished trading at $298.54 after hitting an intraday high of $299.50. I don't want to seem as if I am trivializing a major stock milestone, but $300 should fall by the wayside rather quickly -- especially with the help of its 20-month moving average (as can be seen on this chart).

Along with potential technical support, there is plenty of news from Apple. First the company is in talks with two Indian telecom operators about launching a CDMA (code division multiple access) iPhone in India. Reportedly, Apple is in discussions with Reliance Communications and Tata Teleservices about bringing a CDMA iPhone to India. A CDMA-based iPhone is what Apple will allow Verizon Wireless (VZ) to sell early next year in the United States.

Verizon (VZ - option chain) stock is trading lower today after VZ shares were downgraded at Bernstein today to Underperform from Market Perform. In a note to investors, a Bernstein analyst wrote, "At the core of our concern for Verizon is the fact that after it begins to make distributions to Vodafone (VOD), we project that it will generate only just enough cash to cover its current dividend payment, leaving a razor-thin margin for error and sharply limited ability to commit to future dividend growth."

Dividend investors hate to hear that kind of worries regarding their distributions and have been driving VZ's price lower today in response. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on VZ.

Analyst Upgrades

• SunTrust upgraded American Express (AXP) to buy from neutral with a $47 price target based on valuation.
• Argus upgraded Verizon (VZ) to buy from hold, with a $39 price target, citing valuation and the company's aggressive 4G LTE network upgrade. However, Bernstein downgraded the stock.
• BMO Capital upgraded Canadian Pacific (CP) to outperform from market perform, citing the company's cost reduction efforts, and raised its target for shares to $74 from $67.
• Agrium (AGU) was upgraded to sector outperformer from sector performer at CIBC.
• Novatel Wireless (NVTL) was upgraded to hold from sell at Canaccord.
• Essex Property Trust (ESS) was upgraded to neutral from sell at Goldman.

It's a forgone conclusion that Apple (AAPL) has been the savior of AT&T (T) for the past few years. Little did any of the wireless companies know that Apple's various iPhone models would change the face of the wireless phone industry and sell millions and millions.

And the thing just turned three years old. Is there pent-up demand, though, to use the iPhone on different networks than AT&T (at least, in the U.S.)?

You win some you lose some. This story is about one of my less successful investments, which I acquired and sold many years ago. Over the past four years, I have written many times about Intuitive Surgical (ISRG), by far my best stock investment, up 4,500%, give or take, over a ten-year period. I bought in at the bottom and held on for the ride, until last year when the market tanked and took Intuitive Surgical with it.

The other company was Superconductor Technologies (SCON), the makers of high-temperature devices that improve communications transmission quality.

If Verizon (VZ) does eventually offer Apple's (AAPL) iPhone, there is little doubt it would be a nice boost to business. At the same time, the phone's exclusive carrier, AT&T (T), would suffer. There would also be problems for Sprint (S), which would likely see customer defections.

Of course, the wild-card is: how big would the impact be? Well, according to a recent survey from Morpace Omnibus, over half of Verizon customers would move over to the iPhone. Consider that the company has more than 92 million customers across the U.S.