Verizon and Exxon Mobil
Telecom giant Verizon (VZ) has had a tough year, with the position down 5.6%, and Exxon Mobil (XOM) is also in the red, down 7.7%. Verizon recently reported better than expected Q1 numbers on April 24, which pushed shares higher, but the gains were short lived, and the stock has already given them all back plus some. The big news with Verizon is that two big competitors, Sprint (S) and T-Mobile (TMUS) have reached a merger agreement, which should actually help Verizon since it will reduce competition and allow all the major carriers to boost prices, but there is a lot of skepticism as to whether or not regulators will allow the merger for those same reasons. Exxon Mobil has tried to rally over the last month with rising oil prices, but Wall Street remains incredibly bearish on the oil and gas giant, and each of its last two rallies have been short lived before selling returned to the stock. Both VZ and XOM face an uphill battle to move back into positive territory, but Exxon has the best chance since it could make a meaningful charge higher if oil prices trade higher over the summer.
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