Why Verizon Stock Was Wilting on Wednesday
Is Verizon Communications (NYSE: VZ) about to open its wallet for a massive new acquisition?
That was the scuttlebutt on the stock market Wednesday, and on potential news that the incumbent telecom might spend a pretty penny for a deal, investors traded out of its shares. In late-session trading Verizon's price was down by nearly 4%, a more dramatic slide than the 0.4% sag of the S 500 index at the point.
The Wall Street Journal published an article today stating that Verizon is far into discussions to acquire broadband internet specialist Frontier Communications (NASDAQ: FYBR). Citing unnamed "people familiar with the matter," the financial newspaper wrote that an announcement of a deal could come as soon as this week.
Source Fool.com
Verizon Communications Inc. Stock
€38.51
3.760%
The stock is one of the favorites of our community with 21 Buy predictions and 1 Sell predictions.
With a target price of 42 € there is a slightly positive potential of 9.06% for Verizon Communications Inc. compared to the current price of 38.51 €.
