NEW YORK (
shares surged more than 8% before market open Thursday as the telecom giant confirmed that talks are underway to exit the
The U.K. firm
that it is in talks to sell its 45% stake in Verizon Wireless to partner
(VZ - Get Report)
Vodafone shares climbed 8.26% to $31.84 in premarket trading. The company was also the most active premarket Nasdaq stock on share volume of 2,945,129.
Verizon shares also received a boost from the news, gaining 7.28% to $49.95.
(FB - Get Report)
was a more modest gainer, rising 1.19% to $41.03 on share volume of 552,823 while
(SIRI - Get Report)
was up 0.7% to $3.60.
Electric car maker
(TSLA - Get Report)
crept up 0.57% to $167.40, while
(AAPL - Get Report)
rose 0.63% to $494.
(CRM - Get Report)
, which reports its fiscal second-quarter results after market close, was down 0.47% to $42.58. Analysts surveyed by
are looking for sales of $939.25 million and earnings of 7 cents a share, compared to $731.65 million and 11 cents a share in the same period last year.
--Written by James Rogers in New York.