Frontier Communications Stock Jumps 38% After Report of Possible Verizon Deal

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David Marino-Nachison
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Before joining Investopedia, David Marino-Nachison was an editor at The Wall Street Journal focused mainly on daily markets and investing news. He also worked on The Journal’s publishing desk; as a writer and editor covering stocks at Barron’s; as an editor of features at MarketWatch; and on product development efforts at The Journal. 
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Published September 04, 2024
06:37 PM EDT
A Verizon store in New York City

Jeenah Moon / Bloomberg / Getty Images

Shares of Frontier Communications (FYBR) jumped nearly 40% on Wednesday after The Wall Street Journal said the fiber network company was in talks about a possible sale to Verizon Communications (VZ).

The Journal, which cited people familiar with the matter, said the deal could be announced by the end of the week.

The report didn't mention a possible price; Frontier's market capitalization surged to around $9.6 billion after the stock jumped in response to the news of the possible deal.

Frontier's shares gained 38% to close Wednesday at $38.68, leaving them up roughly 52% for the year. Verizon's stock fell 3.4% today.

Frontier Communications stock price chart YTD

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  1. The Wall Street Journal. "Verizon Nearing Deal for Frontier Communications."

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