Shares of Altice USA Inc. were off more than 6% in premarket trading Thursday after the telecommunications company provided an update upon the conclusion of its strategic review into the Suddenlink cable business. “Over the course of the past several months, the company has been considering options for, including the potential sale of, its Suddenlink business,” Altice said in a short press release. “Following this evaluation, the Board of Directors has unanimously determined that continuing to operate Suddenlink and pursuing the Company’s long-term business plan represents the best path forward for Altice USA and its stockholders.” Analysts already had a sense in recent weeks that a deal for Suddenlink seemed less likely given the state of capital markets. Shares of Altice have declined 72% so far this year as the S&P 500 [S: spx] has fallen 14%.
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