Dow Today: Verizon Communications (VZ) Lower

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The Dow Jones Industrial Average ( ^DJI) is trading down 41.0 points (-0.3%) at 14,799 as of Friday, Aug 30, 2013, 12:35 p.m. ET. During this time, 191.9 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 538.4 million. The NYSE advances/declines ratio sits at 850 issues advancing vs. 2,040 declining with 117 unchanged.
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Holding back the Dow today is Verizon Communications (NYSE: VZ), which is lagging the broader Dow index with a 46-cent decline (-1%) bringing the stock to $47.36. This single loss is lowering the Dow Jones Industrial Average by 3.48 points or roughly accounting for 8.5% of the Dow's overall loss. Volume for Verizon Communications currently sits at 6.2 million shares traded vs. an average daily trading volume of 10.6 million shares.

Verizon Communications has a market cap of $133.24 billion and is part of the technology sector and telecommunications industry. Shares are up 10.5% year to date as of Thursday's close. The stock's dividend yield sits at 4.4%.

Verizon Communications Inc., through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses, and governmental agencies worldwide.

TheStreet Ratings rates Verizon Communications as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, good cash flow from operations, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

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