Tuesday, January 11, 2011

Verizon stock dips ahead of expected iPhone news

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Verizon shares slipped Tuesday as investors awaited the wireless carrier's expected announcement that it would begin selling the Apple iPhone, ending AT&T's monopoly on the coveted device.For more than three months rumors have swirled that a deal between Verizon Wireless, the largest US mobile-phone carrier, and Apple was in the pipeline.
Verizon Wireless, a joint venture between Verizon Communications and Britain's Vodafone, scheduled a news conference at 11:00 am (1600 GMT) in New York.Industry sources said Verizon would announce a deal that shakes up the lucrative US mobile market.
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