Wall Street Stock Forecaster Hotline – Friday, June 3, 2016

Article Excerpt

VERIZON COMMUNICATIONS INC., $50.92, New York symbol VZ, rose 2% this week after the company negotiated a new four-year contract with the union representing 36,000 customer service representatives and network technicians. That ended a seven-week strike. Under the deal, these employees will receive an 11% wage hike over four years. Verizon will also hire an additional 1,400 new union workers and contract out fewer positions. The company had trouble signing up new customers for its fibre-optic TV and Internet services during the strike. That will hurt its second-quarter earnings. However, Verizon won concessions from the union that should substantially cut its employee health care expenses. OUR RECOMMENDATION: Verizon is a buy. Verizon recent coverage Hotline for February 26, 2016 Hotline for January 22, 2016 CHEVRON CORP., $100.66, New York symbol CVX, is the second-largest integrated oil company in the U.S. by revenue, after ExxonMobil (New York symbol XOM). Recent terrorist attacks on its oil wells and pipelines in Nigeria have forced the company to suspend some of…