Frontier fell 13%
Frontier Communications (FTR) stock fell 13.0% in September 2017, closing the month at $11.79. It’s now trading 1.2% above its 52-week low of $11.65 and 82.0% below its 52-week high of $65.40. Last year, FTR bought Verizon’s (VZ) wireline Fios and its broadband businesses in California, Florida, and Texas for $10.5 billion. That gave it an additional 2.1 million broadband subscribers, 3.3 million voice connections, and 1.2 million Fios video subscribers.
However, as FTR almost doubled its customer base, the industry-wide cord-cutting trend brought with it a significant reduction in subscribers over the last few months. Cord-cutting is when customers cancel a pay-TV or landline phone subscription and replace it with an Internet-based service.
Century Link (CTL) stock fell 8.4% in September 2017 and closed the month at $18.90. CTL is now trading 4.0% above its 52-week low of $18.17 and 43.0% below its 52-week high of $33.45.