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Wow: Verizon Stock Jumped 3.5% Yesterday Wow: Verizon Stock Jumped 3.5% Yesterday

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Tech

Wow: Verizon Stock Jumped 3.5% Yesterday

A Verizon Wireless store June 6, 2013, near the New York Stock Exchange in lower Manhattan.(AP Photo/John Minchillo)

photo of Brian Fung
June 6, 2013

Verizon's PR team was working overtime yesterday. Meanwhile, the finance department just had its best day in weeks.

Verizon's stock price surged 3.46 percent this afternoon, the same day we learned the company was allegedly complicit in a massive domestic surveillance program run by the National Security Agency. 

 

 
(Google Finance)

 

 

All right, you say. Maybe this was just a banner day for telecom services.

 

(Google Finance)

Sprint and AT&T did all right, but neither broke past 2 percent. (T-Mobile rose 1.42 percent on the day.)

But how did the rest of the market do?

(Google Finance)

That's Verizon where it says "VZ." The company didn't just beat the market today. It crushed it. The S&P 500 advanced less than a percent. Verizon did about four times as well as that, and over six and a half times better than the Dow.

Not bad for an embattled telco.

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