Ethernet services firm Neutral Tandem (IQNT -14.1%) plunges to new 52-week lows after disclosing...

|By:, SA News Editor

Ethernet services firm Neutral Tandem (IQNT -14.1%) plunges to new 52-week lows after disclosing it's "engaged in ongoing negotiations" with a major customer that could lead to a "significant reduction" in the rates the customer pays, and also require IQNT to pay termination fees for access to the customer's network. The news is easily overshadowing the approval of a $3/share special dividend. Baird has downgraded IQNT to Neutral in response. (new CFO)