New York, Feb 3, 2026, 19:55 EST — After-hours
- Verizon shares climbed roughly 3.7%, continuing a streak of gains over several days
- New AI-related concerns sent the broader market lower, hitting tech and software stocks especially hard
- Senator Maria Cantwell has called for a CEO hearing focused on the security assessments of “Salt Typhoon”
Shares of Verizon Communications Inc rose 3.7% on Tuesday, closing at $46.25, and held steady in after-hours trading.
The gain stood out as the S&P 500 fell 0.84% and the Nasdaq dropped 1.43%, reflecting investor jitters over AI tools pressuring software firms and their margins. “We’re seeing a lot of software companies across the spectrum get hit,” said Art Hogan, chief market strategist at B. Riley Wealth. Reuters
Verizon has seen an uncommon streak for a telecom stock: five days in a row of gains, with notably high trading volume. The shares closed roughly 2% shy of their 52-week high, MarketWatch data shows.
The stock move follows rising tensions in Washington over network security. Senator Maria Cantwell accused Verizon and AT&T Inc. of blocking the release of security assessments linked to “Salt Typhoon,” a supposed Chinese cyber-espionage operation that breached U.S. telecom networks. Reuters reported Cantwell is pushing for a hearing with the CEOs; Mandiant and Verizon declined to comment, and AT&T did not respond immediately. FBI officials say the hackers targeted over 200 U.S. organizations and operations across 80 countries, though China denies any involvement. Reuters
The U.S. Senate Committee on Commerce, Science, and Transportation reported that Cantwell urged chairman Ted Cruz to summon AT&T’s John Stankey and Verizon CEO Dan Schulman. “Must promptly convene a hearing with their CEOs,” she insisted, citing the companies’ failure to comply with requests for documentation. Senate Committee on Commerce
Verizon outpaced both as AT&T rose 2.0% and T-Mobile US Inc. gained 1.4% on the day.
Broker notes added some momentum to the tape. JPMorgan Chase & Co. kept a neutral rating on Verizon but raised its price target to $49 from $47, per Yahoo Finance data.
The recent rally builds on gains sparked by Verizon’s Jan. 30 quarterly report, which included a boosted profit and free cash flow forecast for 2026 — free cash flow being the money left after expenses and capital investments. The company also announced a hefty $25 billion share buyback plan to repurchase its stock.
Yet the rally isn’t without risk. Should lawmakers push for disclosures, or if new proof emerges that the breach wasn’t contained, telecom firms might incur extra compliance expenses and suffer reputational hits just when they can least afford it.
In the next session, traders will keep an eye on Verizon as it tries to break past its 52-week high around $47.36, while also monitoring if Cantwell’s call leads to a scheduled hearing in Washington. Alphabet Inc.’s earnings on Wednesday and Amazon.com Inc.’s on Thursday may also shift risk appetite across the broader market.
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