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SBC Communications Reaffirms Fourth-Quarter Estimate

SBC Communications


said it still expects to report fourth-quarter earnings of 56 cents to 58 cents a share.

The San Antonio, Texas, telecommunications company said it was responding to news reports of rumors that it wouldn't achieve its fourth-quarter earnings view. Analysts expect the company to earn 58 cents a share for the quarter, according to

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First Call/Thomson Financial

. The company earned 54 cents in the year-ago period.

Shares of SBC closed down $2.75, or 5%, to $52.19 in

New York Stock Exchange

composite trading.