Verizon stock is set for its worst week since 2008. Is it time to buy?

Yesterday it was AT&T (T) – Get an AT&T Inc. report.; Today is Verizon (VZ) – Get a Verizon Communications Inc. report..

Shares of the country’s two largest telecom companies are uncharacteristically volatile as they report second-quarter earnings.

On Thursday, Verizon shares fell 2.9% in sympathy with AT&T’s earnings sell-off. While AT&T beat earnings expectations, full-year free cash flow guidance disappointed investors after cutting it to $14 billion from $16 billion.

This morning, Verizon expressed its disappointment, too. Shares fell more than 7% in the report, as earnings missed expectations and the company lowered its earnings forecast.

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