Telecom Argentina (TEO) Jumps: Stock Rises 16.3%

Telecom Argentina S.A. (NYSE:TEO) was a big mover last session, as the company saw its shares rise over 16% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $24.12 to $25.87 in the past one-month time frame.

The move came after the company announced a merger with Cablevisión S.A., with the aim of creating a leading provider of convergent telecommunications services.

The company has not seen any estimate revisions over the past few weeks, and its Zacks Consensus Estimate for the current quarter hasn’t been in a trend either. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Telecom Argentina currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Telecom Argentina Stet - France Telecom S.A. Price and Consensus

A better-ranked stock in the Wireline Non-US industry is Spark New Zealand Ltd. (OTC:SPKKY) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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