fell 4% to a new low of $27.13 by midmorning after saying it expects third-quarter earnings of 45 to 47 cents a share for its FON group, which includes its local and long-distance telephone operations and its data business. The
First Call/Thomson Financial
estimate is 49 cents. Other telephone stocks slumped as well.
fell to $27.44, the latest in a series of new lows.
was down 2.8%.