Dycom Industries slips after Spruce Point says short on co

Dycom Industries

19/02/2025 14:43

** Shares of telecommunications contractor Dycom Industries
 DY.N  fall 2.7% to $170.02 in early trade 
    ** Spruce Point Capital Management issues "strong sell" on
DY and says it has short position
    ** Adds stock faces up to 35%-55% potential downside risk 
    ** Flags concerns on cost saving among Dycom's telecom
clients; says co may be embellishing margins
    ** Says DY delayed disclosures of credit exposure to
Frontier Communications  FYBR.O  
    ** Dycom Industries did not immediately respond to a request
for comment
    ** DY shares down 2.1% year to date

 (Reporting by Lisa Mattackal)
 ((LisaPauline.Mattackal@thomsonreuters.com;))