Australia markets close in 1 hour 10 minutes
  • ALL ORDS

    7,264.20
    +41.70 (+0.58%)
     
  • ASX 200

    7,064.30
    +39.50 (+0.56%)
     
  • AUD/USD

    0.6459
    +0.0027 (+0.42%)
     
  • OIL

    91.81
    +0.10 (+0.11%)
     
  • GOLD

    1,882.50
    +3.90 (+0.21%)
     
  • Bitcoin AUD

    41,771.68
    +853.06 (+2.08%)
     
  • CMC Crypto 200

    579.35
    +14.56 (+2.58%)
     
  • AUD/EUR

    0.6102
    +0.0020 (+0.33%)
     
  • AUD/NZD

    1.0755
    -0.0021 (-0.20%)
     
  • NZX 50

    11,296.43
    +118.40 (+1.06%)
     
  • NASDAQ

    14,702.77
    +122.61 (+0.84%)
     
  • FTSE

    7,601.85
    +8.63 (+0.11%)
     
  • Dow Jones

    33,666.34
    +116.07 (+0.35%)
     
  • DAX

    15,323.50
    +106.05 (+0.70%)
     
  • Hang Seng

    17,843.13
    +470.10 (+2.71%)
     
  • NIKKEI 225

    31,766.50
    -106.02 (-0.33%)
     

Why Verizon Stock Was Slipping Today

Why Verizon Stock Was Slipping Today

Shares of Verizon (NYSE: VZ) were moving backward today after top rival AT&T (NYSE: T) posted disappointing results in its first-quarter earnings report. Verizon and AT&T essentially compete in a triopoly with T-Mobile, and both companies are subject to similar trends in the macro-level economy and the telecom industry. As a result, Verizon shares were down 3.6% at 11:38 a.m. ET, while AT&T had fallen 9.3% at the same time.