Qwest Communications is due to report second quarter earnings one week from today. A couple of other big telcos have shown some pop in this quarter's reports, but will the story be the same with Qwest? The Denver-based telco last month lowered its outlook for the rest of 2008, citing multiple market and economic factor. The company also saw sharp landline losses and a decline in its net income during the first quarter of this year. More recently, Qwest's bid for access charge forbearance in four markets was turned away by the Federal Communications Commission. Other news in recent months had Qwest switching wireless network partners from Sprint Nextel to Verizon Wireless, and Qwest CFO John Richardson announcing his resignation.
Now, BloggingStocks is calling Qwest's stock one of the worst performers of the last 10 years. We all know how the decline started, but Qwest has yet to return to the form of the aggressive, promising company it once seemed to be.
- see this post at BloggingStocks