Verizon Wireless (NYSE:VZ) is being investigated by the Department of Justice as to whether its acquisition of spectrum from cable companies might constitute a restraint of trade, reported Bloomberg, citing a person familiar with the matter.
Note that in recent months Verizon has announced deals to buy spectrum from SpectrumCo, a joint venture between Comcast Corporation (NASDAQ:CMCSA), Time Warner Cable (NYSE:TWC), and Bright House Networks, and a separate deal with Cox Communications.
Verizon Communications (NYSE:VZ) has potential upside of 1% based on a current price of $39.08 and an average consensus analyst price target of $39.48.
Verizon Communications is currently above its 50-day moving average (MA) of $37.23 and above its 200-day of $36.65.
In the last five trading sessions, the 50-day MA has climbed 0.43% while the 200-day MA has remained constant.
Verizon Communications Inc. is an integrated telecommunications company that provides wire line voice and data services, wireless services, Internet services, and published directory information. The Company also provides network services for the federal government including business phone lines, data services, telecommunications equipment and payphones.
