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Weakness Seen in VimpelCom (VIP): Stock Tumbles 12.8%
January 29, 2014

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VimpelCom saw a big move last session, as the company’s shares fell by nearly 13%on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for VIP, as the stock is now down roughly 21% in the past one-month time frame.

This slump shouldn’t be too much of a surprise to investors, as the company has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.

VIP currently has a Zacks Rank #4 (Sell).

Some better-ranked stocks in the telecommunications services sector include BT Group plc (BT - Free Report) , Level 3 Communications, Inc. and Telecom Corporation of New Zealand Limited . All these stocks hold a Zacks Rank #1 (Strong Buy).

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