| reply to fAcEtIOUs
Despite great results Vz stock drops on 2009 fears & pension hit »finance.yahoo.com/news/Verizon-w···246.html
Verizon Communications Inc reported fewer-than-expected wireless subscribers for the fourth quarter and warned that pension and other post-retirement expenses would hurt earnings in 2009, dragging its shares down more than 5 percent.
Verizon said pension and other post-retirement expenses would hurt 2009 earnings by 9 cents to 11 cents per share, joining a growing number of companies being forced to fill funding gaps due to turmoil in financial markets.
Verizon shares were down 5.4 percent at $29.32 in morning New York Stock Exchange trading. Even good news doesn't result in higher stock prices in this economy.
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 MattAll noise, no signal.Premium
join:2003-07-20
Jamestown, NC
kudos:12 | Re: Despite great results Vz stock drops on 2009 fears & pension said by fAcEtIOUs:Even good news doesn't result in higher stock prices in this economy. I think everyone is trying to release their bad news in the wake of yesterday's. It's a smart move that will lessen the blow. After all, at least they didn't announce that 20,000 positions would be eliminated! |
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