What's Going On With Verizon (VZ) Stock?
Portfolio Pulse from Henry Khederian
Verizon Communications Inc. (VZ) shares are trading lower by 0.4% to $31.44 ahead of the company's Tuesday earnings report. Analysts estimate that Verizon will report EPS of $1.18 on revenue of $33.25 billion. Verizon shares gained last week in sympathy with AT&T Inc. (T) after the company reported better-than-expected Q3 financial results. AT&T reported operating revenues of $30.35 billion, a 1% YoY increase, and adjusted EPS of $0.64, surpassing the consensus estimate of $0.59.
October 23, 2023 | 2:29 pm
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POSITIVE IMPACT
AT&T's better-than-expected Q3 results led to a gain in Verizon's shares last week.
AT&T's positive Q3 results exceeded expectations, which likely boosted investor confidence in the telecom sector, leading to a gain in Verizon's shares.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Verizon's stock is trading lower ahead of its earnings report. The company's shares gained last week following AT&T's positive Q3 results.
Verizon's stock is trading lower, possibly due to investor caution ahead of the company's earnings report. The stock's recent gain following AT&T's positive Q3 results suggests that Verizon's performance may be influenced by the broader telecom sector.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100