I parted company with Qwest yesterday. The telecommunciations sector has had a good run in the past year, and Q has participated fully, rallying more than 300% from the 2005 low. But I think the party may be over for now, at least for Qwest. The company announced a large share buyback plan last week, but the market was disappointed that they did not initiate payment of a cash dividend, and so was I. It shows that Qwest lacks confidence that their earnings will remain strong in the future.
Qwest Communications (Q)