Chief Executive officer of Verizon Communications Inc (NYSE:VZ) Lowell McAdam reported on Monday that he projects his company to take $9 billion to $10 billion in special items when it announces Q4 financial results.
Lowell McAdam stated Superstorm Sandy had almost a $1 billion impact on Verizon’s business, almost a third of which was covered by insurance.
Chief Executive further stated that the corporation will take charges of around $1.5 billion linked with refinancing borrowing and around $7 billion linked to pension liabilities.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Sprint Nextel Corporation (NYSE:S) rose +0.68% to settle at $5.96, Telephone & Data Systems, Inc. (NYSE:TDS) moved down -0.09% to end at $23.47 while CenturyLink, Inc. (NYSE:CTL) jumped +0.55% to finish at $40.13 on Monday.
Verizon Communications Inc. (NYSE:VZ) on Jan 07, 2013 increased +0.88% to the closing price of $44.69. The overall volume in the last trading session was 20.90 million shares. Its fifty two weeks range was $36.80 – $48.77. The total market capitalization remained at $127.54 billion.
VZ is ahead of its 52-week low with 24.87% and lagging behind from its 52-week high price with -7.35%. VZ’s last month’s stock price volatility remained 1.34%. In its share capital VZ has 2.85 billion outstanding shares, among them 2.85 billion shares have been floated in market exchange. VZ’s stock’s institutional ownership remained 55.26% while insider ownership included 0.01%.
The stock price of VZ is moving forward from its 20 days moving average with 1.70% and remote positively from 50 days moving average with 2.27%. VZ’s current year’s earnings per share experienced a downfall of -5.89% while its current quarter performance remained at -2.38%. Company’s beta coefficient included 0.48. Beta factors measure the amount of market risk associated with market trade.
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