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Verizon Communications Inc. sees a more competitive wireless environment this quarter, and that weighed on its stock on Tuesday.
Shares of Verizon
VZ fell 6.6% after its chief revenue officer acknowledged “a challenging quarter from a competitive intensity standpoint” at a Deutsche Bank investor conference, according to a FactSet transcript. Competition in the wireless market generally refers to moves made by industry players to win new business or retain customers.
This post was originally published on Market Watch
