Edward Mueller

Among the stock activity stories for Tuesday, Dec. 15, from AP Financial News: NEW YORK (AP) — Shares of consumer products packaging maker Graphic Packaging International Inc. jumped 11 percent Tuesday as an analyst said the company is aggressively reducing debt and overshadowing others in the industry. NEW YORK (AP) — Shares of Qwest Communications International Inc. got a boost Tuesday after the phone company was upgraded by UBS analyst John C. Hodulik, who cited the stock's attractive value and expectations for improving revenue. NEW YORK (AP) — Shares of MetroPCS Communications Inc. and Leap Wireless International Inc. — wireless carriers that offer low-cost, ... Read Full Story

New Mexico Attorney General Gary King has asked state regulators to hold the line on rate increases sought by Qwest Communications International Inc. King claims Qwest's proposed rate increases hit those least able to afford them. He also says if the Public Regulation Commission does not order additional investment in high-speed Internet, rural New Mexicans will be faced with decreasing possibilities of getting access to this technology. The attorney general's request was made to the PRC on Tuesday. The PRC is considering competing proposals for how best to regulate the utility. King's office says Qwest is seeking a 22 percent rate increase and to ... Read Full Story

Fiber-optic network provider Qwest Communications International Inc. said Monday it will save about $100 million by stopping contributions to the pension plans of active managers and freezing their pay. The move to stop adding to pension benefits on Jan. 1 will save $60 million in 2010, while declining merit pay increases will save $35 million next year, it said. Combined with changes to benefits of employee health plans and life insurance, total savings will amount to about $100 million in 2010, the company said. The moves impact active management employees, and not retirees, former employees or employees covered by contracts negotiated by the Communications ... Read Full Story

Qwest Communications International Inc. reported a 6 percent drop in third-quarter profit Wednesday as customers continue to give up traditional landline telephones. Qwest has been struggling to find ways to grow sales as its industry shrinks. It offers local phone service in 14 Western states and customers have been siphoned off by competition from cable and cell phone providers. This summer it fell behind CenturyLink into fourth place among U.S. phone companies by number of lines in service. AT&T Inc. and Verizon Communications Inc. are the two largest. Qwest ended the third quarter with roughly 7 million lines, down 12 percent from a year ... Read Full Story

NEW YORK (Reuters) - Qwest Communications International Inc <Q.N> posted quarterly revenue that was slightly below Wall Street expectations but its shares rose almost 4 percent as it increased its profit outlook for the year. While Qwest's revenue has been falling as consumers disconnect their home phones it has been cutting costs to help improve its profit outlook. The telephone operator reported a third-quarter net profit of $136 million, or 8 cents per share, compared with $145 million, or 8 cents per share, a year earlier. Revenue fell nearly 10 percent to $3.05 billion, missing the analysts' average estimate of $3.067 billion, according to ... Read Full Story