Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Verizon Communications Inc. (VZ)’s Vodafone Group Plc (ADR) (VOD) Talks Keep the Dow Jones Industrial Average (^DJI) in the Green

Page 1 of 2

Although we don’t believe in timing the market or panicking over daily movements, we do like to keep an eye on market changes — just in case they’re material to our investing thesis.

Verizon Communications Inc. (NYSE:VZ)

Stocks have fallen back from earlier highs in today’s market session, but the Dow Jones Industrial Average (INDEXDJX:^DJI) has stayed in the green all day. As of 2:15 p.m. EDT, the Dow Jones Industrial Average (INDEXDJX:^DJI) has picked up modest gains of more than 40 points. Most stocks aren’t going anywhere fast today, but the majority of the Dow Jones Industrial Average (INDEXDJX:^DJI)’s blue-chip members are rising. Verizon Communications Inc. (NYSE:VZ) has done the heavy lifting for the Dow Jones Industrial Average (INDEXDJX:^DJI) today after news about a potentially huge deal sent shares of the telecom leader surging. Let’s catch up on the stock action you need to know about.

Verizon Communications Inc. (NYSE:VZ) and Vodafone Group Plc (ADR) (NASDAQ:VOD) get down to business
Verizon Communications Inc. (NYSE:VZ)’s shares are up 2.6% today to lead the Dow Jones Industrial Average (INDEXDJX:^DJI) after Vodafone Group Plc (ADR) (NASDAQ:VOD) announced that it is talking with the telecom company about selling its 45% stake in Verizon Communications Inc. (NYSE:VZ) Wireless. Verizon Communications Inc. (NYSE:VZ) Wireless has surged in the U.S. to become the country’s top wireless network by subscribers. Verizon Communications Inc. (NYSE:VZ) is looking to control the full share of this lucrative business, rather than missing out while Vodafone Group Plc (ADR) (NASDAQ:VOD) capitalizes.

However, a deal won’t come cheap: According to sources referenced by Bloomberg, such a sale could end up at a mind-blowing $130 billion. Vodafone Group Plc (ADR) (NASDAQ:VOD)’s stock has surged more than 7.5% on the news. It’s a hefty price to pay, but for Verizon, which gained about 66% of its revenue last year from its wireless business, it’s a chance to take over a dominant leadership role in the U.S. market and pull far ahead of rival AT&T, which controls the country’s second-largest wireless network.

The U.S. mobile market might be somewhat saturated in an age when everyone seems to have a wireless phone, but with more and more devices using wireless connectivity, Verizon sees plenty of strength to come in future quarters.

The Dow Jones Industrial Average (INDEXDJX:^DJI)’s losers are a small group today, but Big Oil giants Exxon Mobil Corporation (NYSE:XOM) and Chevron Corporation (NYSE:CVX) are leading the holdouts down, losing 1.6%and 0.9%, respectively.

Page 1 of 2

Biotech Insider Alert - $5 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!