Why did Verizon Communications stock fall on 9 October?
Written after the close on
Verizon Communications −8.61%
Verizon fell very sharply in the last session, likely on investor caution ahead of its late-October earnings report. Over the last five trading days Verizon fell very sharply while the S&P 500 rose clearly and the Communication Services sector was roughly flat, so the drop was company-specific rather than market- or sector-wide. The most likely driver is the satellite connectivity joint venture with AT&T and T-Mobile announced last week, which investors may read as costly and slow to pay off, though that timing does not fully line up with the sharpest fall. The next scheduled catalyst is the late-October earnings report, where the company is projected to post earnings of $1.28 per share and revenue of $34.8 billion.
Next report: · Add to calendar · Google Calendar
Open Verizon Communications's chart