Wednesday, October 13, 2010

An Earnings Boost on the Horizon (NYSE: VZ)

Verizon Communications Inc. (NYSE:VZ) fell 1.01% or 33 cents per share today even as the Dow Jones Industrial Average soared over 75 points. Verizon has been heading lower since it hit its most recent high on October 5th 2010, the day it paid it's quarterly dividend which currently has an annual yield of over 6%. The stock has faced technical resistance and has has difficulty crossing the $34 in almost 2 years. Even amid news that Verizon could get Apple's iPhone as early as Q1 of next year the stock has had trouble rallying hard and breaking out to higher highs.

"This is a very sad occurrence for such a great company," Said Andy "Raw" Kibbens, co-CEO of The Markets Are Open. "I believe that things could change once investors see the profitability that the iPhone will bring. More profit, higher dividends... things could turn around for Verizon."

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