Frontier Communications (FTR) announced third quarter results with adjusted (excluding acquisition and integration costs) earnings per share of 18 cents, exceeding the Zacks Consensus Estimate of 16 cents. Net income increased 11% year over year to $52.2 million, primarily due to gain on debt repurchases and higher operating income that increased 5% year over year to $172.5 million.   Revenues Remains under Pressure    The company reported revenues of $526.8 million, reflecting a 6% decrease over the year-ago quarter. The year-over-year decline is attributable to lower local, long-distance and switched access revenues coupled with decline in basic access lines. However, this was partially offset by increases in data and Internet service revenues.   Revenues for local services declined 8% year over year to $193.6 million while data and Internet services revenue increased 4% to $160 million. Switched access service revenues declined 8% year over year to $91.2 million

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For Immediate Release

Chicago, IL – November 3, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: CIT Group Inc. (CIT), Dean Foods (DF), Frontier Communications (FTR), Verizon Communications (VZ) and Time Warner Cable (TWC).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Monday’s AnalystBlog:

CIT Group Files Chapter 11

CIT Group Inc. (CIT) has filed for Chapter 11 protection on Sunday. The company struggled for months to avoid collapse since the recession elicited billions of dollars in loan losses, and the financial crisis made it incapable of funding itself from

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Frontier Communications (FTR), a leading telecom operator in rural and suburban areas in the US, has reportedly received approvals from the Public Utilities Commissions of the states of California and Neveda and Public Service Commission of South Carolina for its impending acquisition of the rural fixed-line business of Verizon Communications (VZ). Moreover, the acquisition was recently approved by the shareholders of Frontier. The transaction is now subject to approval by the Federal Communications Commission (FCC) and other closing conditions and is expected to close during the second quarter of 2010. Verizon is divesting its rural fixed-line business (involving approximately 4.8 million access lines) in 14 states to Frontier under an agreement valued at approximately $8.6 billion. Under the deal terms, Verizon’s shareholders will receive approximately $5.25 billion in common stock of Frontier, equating to around 68% stake in the company. Moreover, Verizon will also ...

CVS Caremark Corporation (NYSE: CVS), today announced revenues, operating profit, and earnings for the second quarter ended June 30, 2009.Revenues: Net revenues for the second quarter of 2009, increased $3.7 billion to $24.9 billion, up from $21.1 billion during the second quarter of 2008.

Frontier Communications (NYSE:FTR) today reported second-quarter 2009 revenue of $532.1 million, operating income of $136.6 million and net income attributable to common shareholders of Frontier of $27.9 million.

Church & Dwight Co., Inc. (NYSE:CHD) today reported net income for the quarter ended June 26, 2009 of $58.2 million or $0.81 per share, compared to last year’s reported net income of $45.8 million or $0.66 per share. Excluding the previously announced plant restructuring charge of $0.05 per share, this year’s second quarter earnings were $0.86 per share.

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Nissan Motor Company (NSANY) manufactures and sells about 3.5 million cars and commercial vehicles annually in more than 190 countries. The company's major production sites are located in Japan, with additional facilities located in the U.S. and elsewhere. Some of its key brands include Altima, Sentra, Maxima, Quest, Pathfinder, Xterra, Frontier, Titan, and its luxury brand, Infiniti.

Increasing prices of energy and raw material including steel, aluminum and precious metal are eroding profits of Nissan. Moreover, the company is offering higher incentives to entice buyers. This is making it difficult for Nissan to pass on rising raw material and energy prices to the ultimate consumers.

In addition, there are concerns about the new product launch costs that the company is planning. Also, the overall automotive industry environment is a challenging one, with volumes going down.

The company anticipates a 29.5% drop in earnings for fiscal 2008. Thus, we rate the

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