Why Verizon Stock Topped the Market on Thursday
It announced a fresh round of store transitions and employee cuts.
Overview
The latest implementation of a shifting retail strategy was the spark that lit the fuse under Verizon Communications (NYSE: VZ) stock on Thursday. Cheered by the move, investors pushed the big telecom's stock up by more than 2%, on a day when the S&P 500 index only ticked up by 0.4%.
Verizon announced that it aims to sell 274 of its stores around the U.S., and cut roughly 500 corporate jobs as part of a broader restructuring program.
Image source: Verizon Communications.
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Originally published at www.fool.com.
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