AMOV - AT&T Verizon gain in wake of big telecom merger deals

Major telecom providers are higher today in the wake of some multibillion-dollar merger/acquisition activity in the sector. AT&T (NYSE:T) is up 2.8% on the day as it hunts for its first daily gain since Nov. 12 (it's declined or finished flat for five straight sessions, and wrapped Friday at a 10-year low). And Verizon (NYSE:VZ) is up 2%, looking to reverse four straight down sessions. Dish Network (NASDAQ:DISH) is up 0.8%; among the upcoming "Big Four," only T-Mobile (TMUS -0.5%) is lower. That follows some big Merger Monday deals. KKR has come through with a $12 billion offer for Telecom Italia (TIIAY +29.4%). And Ericsson (ERIC -6.4%) has come to its biggest deal ever, to acquire service provider Vonage (VG +25.9%) for an enterprise value of $6.2 billion. Verizon (VZ +2%) has its own big deal in the works - California's PUC has signed off on a $6 billion acquisition

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AT&T, Verizon gain in wake of big telecom merger deals