Frontier Communications surged 9.1% to finish the day at $5.15. The telecom carrier for small-, medium-sized and rural communities posted second-quarter earnings of 3 cents a share on revenue of $1.37 billion, beating Wall Street's estimates of earnings of 2 cents a share on revenue of $1.37 billion. "On the operational front, we achieved a sequential increase in customer revenue, reflecting improved trends in the legacy Frontier business, and a stable performance in Connecticut," CEO Dan McCarthy said in a statement. Additionally, Frontier Communications gained 29,200 Internet customers during the second quarter, bringing its total to 2.4 million, while its TV subscribers dropped by 5,000 customers lowering its total to 569,500 viewers, according to an Associated Press report. The carrier's shares, which posted their largest increase since July 2014, also were aided by Frontier increasing its estimates for free cash flow and capital spending, according to a Bloomberg report.