Verizon Higher After Q2 Report

Verizon Communications Inc. (NYSE: VZ) shares are trading higher by $1.27 (2 percent) at $49.92 in Thursday's session.

Before the open, the company reported an inline Q2 EPS report along with a $36 million beat for sales. The company expects the remainder of FY 2017 EPS to similar its current trend.

After a higher open, Verizon continued in that direction before peaking at $51.18 and reversed course. That marks the highest level for the stock since it peaked on Jan. 23 at $52.70. The following day it tumbled to $50.12 after a 4-cent EPS miss for Q4 2016.

Since making that high, Verizon has drifted lower under $50.00 as $49.73 stands as the low for the session as of 10:50 a.m. EST. In order to fill the void in price and reach the upper-end of Wednesday's session, it will need to reach $48.85.