Verizon Communications Inc (VZ) intends to sign a five-year deal with the National Football League estimated at about $2.25 billion in order to provide streaming services to users via NFLs Yahoo and go90 platforms as well as its mobile app.
Verizon shares closed higher for a second consecutive trading session on Monday. It has also been the sharpest daily surge since November 30th. The stock went up 1.47% ($0.75) to $51.84, after touching an intraday high at $51.93, or a price level not seen since December 4th ($52.33).
In the week ended on December 10th the shares of the communication service provider lost 0.31% of their market value compared to a week ago, which marked the first drop out of four weeks.
However, due to yesterdays gain, the stock has extended its advance to 1.87% so far during the current month, following a 6.31% surge in November. The latter has been the best monthly performance since July.
For the entire past year, the shares of the NYSE-listed company rose 15.49%. The stock has retreated 2.88% so far in 2017.
Spokespersons for both entities did not comment on the financial terms of the agreement.
According to Verizon, the partnership is to go into effect in January.
According to Wells Fargo analyst Jennifer Fritzsche, the deal reflects Verizons efforts to expand its mobile advertising platform.
Earlier this year the largest wireless carrier in the United States acquired Yahoo’s core assets and, by combining them with AOL, the company established its Oath business. Verizon has said its objective for Oath is to generate revenue of as much as $20 billion by the year 2020.
The company has also said that its reach has already been expanded to over 200 million unique mobile and digital users per month in the United States.
According to CNN Money, the 24 analysts, offering 12-month forecasts regarding Verizon Communications Inc’s stock price, have a median target of $50.50, with a high estimate of $55.00 and a low estimate of $45.00. The median estimate is a 2.58% decrease compared to the closing price of $51.84 on December 11th.
The same media also reported that 25 out of 32 surveyed investment analysts had rated Verizon Communications Inc’s stock as “Hold”, while 7 – as “Buy”.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, today’s levels of importance for the Verizon stock are presented as follows:
R1 – $51.93
R2 – $52.02
R3 (Range Resistance – Sell) – $52.10
R4 (Long Breakout) – $52.37
R5 (Breakout Target 1) – $52.68
R6 (Breakout Target 2) – $52.82
S1 – $51.75
S2 – $51.66
S3 (Range Support – Buy) – $51.58
S4 (Short Breakout) – $51.31
S5 (Breakout Target 1) – $51.00
S6 (Breakout Target 2) – $50.86
By using the traditional method of calculation, the weekly levels of importance for Verizon Communications Inc (VZ) are presented as follows:
Central Pivot Point – $51.21
R1 – $52.21
R2 – $53.34
R3 – $54.34
R4 – $55.35
S1 – $50.08
S2 – $49.08
S3 – $47.95
S4 – $46.83
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
