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Why Verizon Rose Today
Shares of telecom giant Verizon (NYSE: VZ) were rising today, up as much as 3.3% before settling into a 2.5% gain on the day. While the markets were broadly positive, Verizon’s outsized gains were likely due to its CEO’s appearance at a Citigroup telecom and technology conference today, during which CEO Hans Vestberg had positive things to say about the recently concluded fourth quarter. Without giving too many details, Vestberg stated that the company saw positive net additions in the fourth quarter, and that store traffic had increased compared with prior periods.
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