Verizon Communications Inc. is an American multinational telecommunications company and also a corporate component of the Dow Jones Industrial Average. The stock price of Verizon Communications is facing fluctuations and according to the stock market experts, it’s a risky investment for traders now.
Verizon communications headquarter in 1095 Avenue of the Americas in Midtown Manhattan, New York City. However, it mainly incorporated in Delaware. The United States Department of Justice ordered AT&T Corporation to change the Bell System and break into seven companies In 1984, every single will be a Regional Bell Operating Company (RBOC), and commonly named as “Baby Bells.”
In 1984, one of the Baby Bells, Bell Atlantic which came into subsistence which consisting of the separate operating companies New Jersey Bell, Bell of Pennsylvania, Diamond State Telephone, and C&P Telephone. This Bell Atlantic later become Verizon.
Because of the rebranding of the Baby Bells in the 1990s, all of Bell Atlantic’s controlling companies thought the holding company’s name. Bell Atlantic spread into New York and the New England states in 1997, by merging with fellow Baby Bell NYNEX.
Even though Bell Atlantic was the surviving company name but the merged company changed its headquarters from Philadelphia to NYNEX’s old office in New York City.
Bell Atlantic purchased GTE in 2000, which operated telecommunications companies around the country which was not in Bell Atlantic’s footprint yet. Bell Atlantic which is the surviving entity on the Baby Bells, changed its name to “Verizon. Verizon spread into content ownership by purchasing AOL in 2015.
Moreover, after two years, it acquired Yahoo!. AOL and Yahoo were merged into a new division named Oath Inc. which currently known as Verizon media.
Verizon Communications Stock & Stock Market Analysis
Company– Verizon Communications
- Market Capitalization– $249.40 Billion
- Highest Stock Price– $60.70
- Lowest Stock Price– $60.02
- Current Stock Price– $60.56
- P/E Ratio– 15.76
- Current Status– Not Stable (Risky)
According to 2016, Verizon is one of the three left companies that had their radicle in the former Baby Bells. The other two which were pretty much the same as the Verizon, exist as a result of amalgamated among fellow former Baby Bell members. SBC Communications bring out the Bells’ previous parent AT&T Corporation which is assumed the AT&T name. In 2011, CenturyLink was formed primarily because of the acquisition of Qwest.
Verizon’s subdivision Verizon Wireless is the 2nd largest United States wireless communications service provider according to April 2019, which gives service to 153.1 million mobile customers.
Also, according to 2017, Verizon is the only publicly traded telecommunications company which is the only one to have two stock listings in its home country including the NYSE (principal) and NASDAQ (secondary). According to 2017, Verizon is also the 2nd largest telecommunications company on the scale of revenue after AT&T.
In 2005, Verizon started a negotiation to acquire the long-distance carrier MCI. In February 2005, MCI approved Verizon’s initial $6.75 billion offer but then got a higher offer from Qwest Communications. After that, Verizon increased its offer to US$7.6 billion or US$23.50 a share, which MCI approved on March 29, 2005. This achievement gave Verizon access to MCI’s 1 million corporate clients and also its international holdings which are expanding its presence into global markets.
Because of this, Verizon Business was well-off as a new part to serve the company’s business and government customers. The FCC declared the deal on November 5, 2005, which is valued at US$8.5 billion. Verizon’s 2006 revenues increase by 20% of the next purchase.