Verzion Finally Getting The iPhone (AAPL, VZ)

According to a report from the Wall Street Journal, Apple's AAPL iPhone will come to the world's largest network, Verizon Wireless VZ. The new phone, was has been rumored about for months, if not years, will be powered by a Qualcomm QCOM chip, and use CDMA technology, which had been the sticking point before. The phone is expected to be released sometime in the first quarter of 2011. Shares of Verizon spiked up on this news, gain 23 cents to trade at $33.32. Apple is roughly flat on the day, losing 11 cents to $288.83.