The cyberattack on Frontier Communications led to operational disruptions and a notable after-hours stock price decline. While the company has contained the incident and does not foresee a material impact on its financial results, the immediate negative reaction in stock price reflects investor concerns over potential vulnerabilities and the effectiveness of the company's cyber defenses. The short-term impact is negative due to the operational disruptions and the adverse investor sentiment, despite the company's efforts to mitigate the situation.