U.S. wireless carrier Verizon raised the lower end of its annual profit forecast, riding on strong demand for its premium plans and benefits from the Trump administration's new tax law. Shares of the company rose 3.

STORY: Shares of Verizon jumped more than four and a half percent Monday morning, after the wireless carrier raised the lower end of its annual profit forecast.That was thanks to strong demand for its premium plans and the Trump administration’s new tax law.

Verizon Communications (NYSE: VZ) stock gained on Monday after the company reported better-than-expected second-quarter financial results and raised guidance. The company reported quarterly revenue growth was 5.