Why Verizon Stock Inched Higher Today
Verizon Communications' (NYSE: VZ) major news on Wednesday was entirely expected. Still, it helped push the company's stock into positive territory. Verizon's shares closed the trading session nearly 2% in response, providing a positive contrast to the flatlining S 500 index.
In this month of high-profile elections, Verizon's news had to do with a shareholder vote. Frontier Communications Parent (NASDAQ: FYBR) investors were polled in a special shareholders meeting to either accept or reject Verizon's buyout of their company. They voted in favor of the move; in a press release on the subject, Frontier said that around 63% of respondents opted for "yes."
This advances the takeover, which was first announced to the public in early September. Verizon and Frontier agreed that the former would acquire the latter in an all-cash, $20 billion deal.
Source Fool.com
Verizon Communications Inc. Stock
Verizon Communications Inc. is currently one of the favorites of our community with 11 Buy predictions and no Sell predictions.
With a target price of 43 € there is a slightly positive potential of 4.12% for Verizon Communications Inc. compared to the current price of 41.3 €.
