5 Biggest Losers This Week

4. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 58

Shares of Verizon Communications Inc. (NYSE:VZ) fell nearly six percent this week, primarily after the telecommunications giant reported a drop in its third-quarter profit.

Verizon Communications Inc. (NYSE:VZ) reported adjusted earnings of $1.32 per share, down from $1.42 per share in the year-ago period. Revenue for the quarter increased 4 percent versus last year to $34.2 billion. Nevertheless, the results were better than the consensus of $1.29 per share for earnings and $33.78 billion for revenue.

On the downside, Verizon Communications Inc. (NYSE:VZ) added 8,000 new wireless phone subscribers during Q3, significantly lower than the 35,400 additions projected by analysts.