New York, February 12, 2026, 13:51 ET — Regular session
Verizon Communications Inc. jumped about 1.6% Thursday, settling at $49.78 after hitting $50.24, a high not seen in more than a year. By early afternoon, trade volume had hit 32 million shares. Telecom stocks were drawing buyers even as the broader market lost ground.
The move is turning heads. U.S. telecoms are classic “income” names—heavy on debt, steady with dividends. Investors tend to scoop them up if bond yields fall and jitters surface. Now, with the U.S. 10-year at about 4.12% and the S&P 500 off more than 1%, that old pattern is showing up again. 1
T-Mobile lifted its 2027 service revenue outlook, now seeing as much as $81.5 billion, while also raising adjusted free cash flow guidance to between $19.5 billion and $20.5 billion for that year. Stronger demand for premium plans and broadband, according to the company, underpinned the shift. CEO Srini Gopalan highlighted a 13% increase in “average revenue per account” since 2020. Not everyone was convinced. Craig Moffett of MoffettNathanson criticized T-Mobile’s decision to stop reporting postpaid phone subscriber additions, arguing for more disclosure: “more is more.” 2
Verizon surged 3.33% to close at $48.97 on Wednesday. AT&T advanced 3.87%, while T-Mobile outpaced both, adding 5.07%, according to MarketWatch data. 3
Verizon stock has jumped since its Jan. 30 earnings report, after the company called for 2026 adjusted earnings between $4.90 and $4.95 per share and put a floor on annual free cash flow at $21.5 billion. The carrier picked up 616,000 new monthly wireless phone subscribers in the fourth quarter. Verizon is aiming for 750,000 to 1 million net retail postpaid phone additions for the year—a sharp increase from last year’s 362,000, Reuters reported. The board signed off on a three-year share repurchase program of as much as $25 billion. CEO Dan Schulman told investors Verizon “will no longer be a hunting ground” for competitors. 4
In wireless, “postpaid” customers are those who pay after they’ve used the service. Net additions—just the tally of new accounts—show whether a carrier such as Verizon is gaining or ceding ground. Traders zero in on one thing: Is Verizon able to expand its postpaid base without resorting to more aggressive phone discounts?
T-Mobile’s shift to emphasizing accounts and revenue per account puts Verizon’s figures under the microscope as the sector’s standard for now. Churn—the number of customers leaving—takes center stage, along with any evidence that bundled broadband is pulling its weight.
But the rally isn’t without hazards. If competitors push harder on promotions to chase growth, margins could shrink, and that would squeeze the dividend play.
Should bond yields rebound, the trade could face some strain. Telecom stocks, carrying significant debt, often see their valuations swing hard with shifts in rate outlooks.
Verizon CFO Tony Skiadas is on deck for the Barclays Communications and Content Symposium, slotted for Feb. 24, according to the company’s investor calendar. That marks the next planned update for investors. 5
