On July 30, Charter fell 5.04% in regular trading, trading at $137.97/share, with turnover of $166 million. The decline was triggered by a wave of analyst downgrades following the company's Q2 earnings report.

On the news front, multiple investment banks aggressively cut their price targets on Charter after Q2 results. JPMorgan lowered its target to $150 from $200 while maintaining a Neutral rating. Wells Fargo slashed its target far more dramatically to $101 from $160, maintaining an Underweight rating. RBC Capital also warned that Charter will face continued broadband subscriber losses, weak pricing, lower earnings, and pressure to cut costs after completing the Cox transaction.

While Charter's Q2 EPS of $10.66 beat the consensus estimate of $10.14 by approximately 5%, the company lost 172,000 broadband subscribers during the quarter, exceeding market expectations. Management guided for standalone EBITDA excluding transition costs to decline approximately 1% year-over-year in the full year, reinforcing concerns about fundamental headwinds from intensifying broadband competition.

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