Telstra Ltd (ASX:TLS) is by far the most active stock on the market today, trading 74 million shares by noon, with the valuation wiped down by 5.5% to $2.75.
Driving the negative sentiment is the company's new strategy to improve customer experience, simplify structure and cut costs.
What this means is that many staff will be on the chopping block, with up to 8,000 employees to go.
Restructuring costs have been put in the $600 million bracket.
Importantly for retail investors is the dividend, and while the telco doesn't provide forward guidance, it has confirmed FY18 will be 22 cents per share.
This remains a premium to Hancock's off-market takeover bid for 100% of the shares at 4.2 cents.
Perhaps traders are anticipating a bidding war for Atlas' assets and additional higher offers.
|Telstra Corporation Ltd||TLS||2.750||-$5.50||73,986,498|
|Atlas Iron Ltd||AGO||0.044||$0.00||32,259,674|
|Lakes Oil NL||LKO||0.002||$0.00||30,100,000|
|Caeneus Minerals Ltd||CAD||0.001||$0.00||27,466,600|
|Manas Resources Ltd||MSR||0.005||$0.00||16,829,938|
|Esports Mogul Asia Pacific Ltd||ESH||0.026||$8.33||15,936,160|
|Gladiator Resources Ltd||GLA||0.006||-$14.29||12,519,978|
|Emeco Holdings Ltd||EHL||0.365||$1.39||12,390,512|
|Metals Australia Ltd||MLS||0.005||$0.00||12,104,492|
|White Cliff Minerals Ltd||WCN||0.002||$0.00||11,075,037|