NEW YORK (TheStreet) -- The FCC has passed its proposed net neutrality rules that would allow Internet service providers (ISP) to charge content service providers for higher quality delivery of their traffic to users, Reuters reports.
The FCC describes an open Internet as "the Internet as we know it, a level playing field where consumers can make their own choices about what applications and services to use, and where consumers are free to decide what content they want to access, create, or share with others."
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Shares of Verizon Communications Inc. (VZ) are down -0.23% to $47.90.
AT&T Inc. (T) stock is up by 0.07% to $36.42.
The FCC also voted to limit the amount of spectrum Verizon and AT&T could purchase at the 2015 auction, in order to reserve spectrum in wireless carrier markets that do not have a substantial amount, as a way of keeping large companies from monopolizing the market, Reuters reports.
TheStreet Ratings team rates VERIZON COMMUNICATIONS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate VERIZON COMMUNICATIONS INC (VZ) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, expanding profit margins, compelling growth in net income and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."