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Frontier Communications Corp (NASDAQ:FTR) shares are trading lower by $2.91, or 24 percent, at $9.20 in Wednesday's session.
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The Street is punishing the stock after it reported a Q3 EPS miss of 4 cents on in-line sales.
After a flat open, Frontier could not retake Tuesday's close ($12.11), only reaching $12.06 before sellers engulfed the stock. In a straight-down fashion, it declined to $9.12 and is not far off that level. That far exceeds its former all-time low that was made in October at $11.16.