NEW YORK (TheStreet) -- Shares of Verizon Communications Inc. (VZ) are up 0.64% to $50.94 after the company's CFO Fran Shammo said he is optimistic the FCC will make the "right" decision in legislating rules to regulate how Internet service providers manage their Web traffic, Reuters reports.
"I think the independent agency of the FCC will make the right decision," Shammo told investors at a conference on Wednesday, according to Reuters.
Nearly four million comments flooded the FCC this year after Chairman Tom Wheeler proposed new Internet traffic rules in May that would prohibit Internet service providers from blocking any content but allowed content companies to strike "commercially reasonable" deals to ensure their websites and applications load smoothly and swiftly, Reuters reported.
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Separately, 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 a few notable 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, compelling growth in net income, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."