After its downtrend ended at below $210 on high trading volume, IQIVIA (IQV) is the stock on the move today. On Monday, the health information tech firm, previously known as IMS Health, posted healthy Q2 results.
IQV stock gained almost 8% after reporting revenue of $3.81 billion, up by 2.3% Y/Y. The firm’s R&D Solutions bookings topped $2.7 billion for a book-to-bill ratio of 1.27 times. It expects to earn up to $11.30 a share for FY 2024.
Verizon Communications (VZ) broke below a trading range that cycled at $40.00 since April 12, 2024. Investors did not like the telecom firm’s business trend revealed in the Q2 report. Verizon posted revenue of $32.8 billion, slightly below consensus estimates. It achieved service revenue growth and strong sales from the consumer side due to higher pricing. This strategy works for the short term. However, it may increase customer churn. Still, in Q2, the company added 340,000 postpaid wireless customers. Total retail churn was 1.11%.
AT&T (T) stock fell in sympathy with VZ stock on Monday.
Air Products and Chemicals (APD) may bounce back from the $250 support price. Deutsche Bank (DB) downgraded the stock, citing the unexpected management shakeup. COO Samir Serhan resigned on Monday.
Related Stories
