Verizon Has Best Day In Years After Q2 Report

Verizon Communications Inc. (NYSE:VZ) shares are trading higher by $3.39 (7.6 percent) at $47.79 in Thursday's session.

Before the open, the company reported an inline Q2 EPS report, but had a revenue beat of $590 million. The Street is focusing on the revenue beat as well as wireless customer gains and customer loyalty in the quarter.

After a much higher open, Verizon had a brief 31-cent retreat to $45.95 before continuing its move higher. It has continued to make new highs for the session with the current one standing at $47.83 as of 2:22 p.m. EST. That marks the highest level for the stock since it peaked on April 21 at $48.17.