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Why Ribbon Communications Stock Is Soaring Today

TheMotleyFool 
0 0 24.04.24
Why Ribbon Communications Stock Is Soaring TodayPhoto, wide shot, wide-angle lens, Cable TV provider, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.midjourneyapi.xyz/temp/51ec7f0d-2b5e-41f6-baa4-43bf0f5d7e7d.png
 

Shares of Ribbon Communications (NASDAQ: RBBN) skyrocketed on Wednesday. The single-day gains peaked at 32.7% in the early afternoon before settling down to a still-impressive 28% price increase at 2:30 p.m. ET today.

The provider of hardware and software solutions for secure communication networks reported modest earnings on Tuesday evening, but also unveiled an impressive contract with Verizon Communications (NYSE: VZ) amid generally improving market trends.

Ribbon's results fell short of analyst expectations in the first quarter of 2024. Yes, that's an unusual setup for a huge stock-price jump.

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Source Fool.com

Verizon Communications Inc. Stock

€40.09
-1.490%
We can see a decrease in the price for Verizon Communications Inc.. Compared to yesterday it has lost -€0.605 (-1.490%).
With 11 Buy predictions and not the single Sell prediction the community is currently very high on Verizon Communications Inc..
As a result the target price of 43 € shows a slightly positive potential of 7.27% compared to the current price of 40.09 € for Verizon Communications Inc..
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