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TheStreet Wire

Dow Today: Verizon Communications (VZ) Higher

By TheStreet Wire 08/01/12 - 12:00 PM EDT

Find out if (VZ) is in Cramer's Portfolio.

The Dow Jones Industrial Average (^DJI) is trading up 34 points (+0.3%) at 13,042 as of Wednesday, Aug 1, 2012, 11:35 a.m. ET. During this time, 199.2 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 690.1 million. The NYSE advances/declines ratio sits at 1,588 issues advancing vs. 1,271 declining with 147 unchanged.

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The Dow component leading the way higher looks to be Verizon Communications (NYSE:VZ), which is sporting a 38-cent gain (+0.8%) bringing the stock to $45.52. This single gain is lifting the Dow Jones Industrial Average by 2.88 points or roughly accounting for 8.5% of the Dow's overall gain. Volume for Verizon Communications currently sits at 9.5 million shares traded vs. an average daily trading volume of 15 million shares.

Verizon Communications has a market cap of $127.7 billion and is part of the technology sector and telecommunications industry. Shares are up 12.5% year to date as of Tuesday's close. The stock's dividend yield sits at 4.4%.

Verizon Communications Inc. provides communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company has a P/E ratio of 44.5, equal to the average telecommunications industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Verizon Communications as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, expanding profit margins, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated.

You can view the full Verizon Ratings Report.

For more information on Verizon Communications Inc click any of the following:

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