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AT&T Inc. (T) - $25 value - yours FREE >>
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AT&T Inc. (T) - $25 value - yours FREE >>
Verizon Communications Inc. (VZ) - $25 value - yours FREE >>
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Verizon (VZ) Backs Software Termination of Galaxy Note 7
Verizon Communications Inc. (VZ - Free Report) has decided to allow smartphone and electronic giant Samsung to help customers disable Galaxy Note 7 phones. Notably, Samsung’s Note 7 line of phones has a battery issue which at times led to explosions during charging.
Ever since the glitch has been discovered, most of the Note 7 units have been replaced. Samsung is now trying to disable the remaining Note 7 phones through an over-the-air (OTA) update. All the major wireless carriers in the U.S. like Sprint Corp. (S - Free Report) , AT&T Inc. (T - Free Report) and T-Mobile US Inc. (TMUS - Free Report) have allowed the manufacturer to forward the aforesaid update through its network. Verizon, on the other hand, initially rejected the distribution of the update citing customer inconvenience. However, the carrier has shifted course and will now allow the software update. Additionally, it has asked its customers to stop using the faulty device.
Price Performance of Verizon
Year to date, the Zacks categorized U.S. Wireless National industry has registered growth of 20.22%. However, Verizon’s 12.09% lags the industry mark.
Moreover, after the revelation of Yahoo’s first data breach case, Verizon’s stock price plunged 12% over the next 20 trading days. However, backed by strong fundamentals, the stock price made a strong comeback pretty soon. But the latest data breach case might hit the stock again. Verizon currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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