The company formerly known as Time Warner Telecom is not having a good day on Wall Street.
Last night, tw telecom's latest SEC filing said it was going to warn of slower revenue trends at an investor's conference. The company also said it has "revenue pressure" from an exodus of very small and mortgage customers, weakness in the Midwest that could extend to the Southeast and markets in other regions AND potential small business customer churn as it disconnects non-paying customers.
A couple of Wall Street firms downgraded the stock from "buy" to lower ratings, and the stock price opened at a new 52-week low, $11.57 a share; yesterday, the stock closed at $14.87 and the previous low was $13.61.
- 24/7 Wall Street reports on TW Telecom taking a hit. Article
tw telecom sees 1st quarterly profit since 2001
Time Warner Telecom was one of our Top 10 Service Providers on the Cutting Edge last year