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 122 points (+0.7%) at 16,495 as of Wednesday, Jan 15, 2014, 12:35 p.m. ET. During this time, 210.5 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 355 million. The NYSE advances/declines ratio sits at 1,951 issues advancing vs. 995 declining with 159 unchanged.
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The Dow component leading the way higher looks to be Verizon Communications (NYSE: VZ), which is sporting a 99-cent gain (+2.1%) bringing the stock to $48.07. This single gain is lifting the Dow Jones Industrial Average by 7.49 points or roughly accounting for 6.1% of the Dow's overall gain. Volume for Verizon Communications currently sits at 11.1 million shares traded vs. an average daily trading volume of 11.1 million shares. Verizon Communications has a market cap of $134.51 billion and is part of the technology sector and telecommunications industry. Shares are down 4.2% year to date as of Tuesday's close. The stock's dividend yield sits at 4.5%. 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 61.9, 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.