Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.
The
Dow Jones Industrial Average (
^DJI) is trading up 112 points (+0.7%) at 16,537 as of Tuesday, Jan 7, 2014, 12:35 p.m. ET. During this time, 154.3 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 360.8 million. The NYSE advances/declines ratio sits at 1,988 issues advancing vs. 979 declining with 144 unchanged.
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The Dow component leading the way higher looks to be
Verizon Communications (NYSE:
VZ), which is sporting a 52-cent gain (+1.1%) bringing the stock to $49.21. This single gain is lifting the Dow Jones Industrial Average by 3.94 points or roughly accounting for 3.5% of the Dow's overall gain. Volume for Verizon Communications currently sits at 8.5 million shares traded vs. an average daily trading volume of 12 million shares.
Verizon Communications has a market cap of $138.48 billion and is part of the technology sector and telecommunications industry. Shares are down 0.9% year to date as of Monday'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. The company has a P/E ratio of 63.7, 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, 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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