Some trader just push the stock price down for no reason. The guy is just shorting the stock up top and doing quick turn around trades to bring down the price on unrelated market news. T does not have much risk exposure to the eurozone, Italy or the yen. A trader just created artificial weights on the company and he push down the stock to gain from his bets against other investors ( likely someone clients).
Also, this nonsense may be related to the Soft Bank move on S. Regulators should keep a close watch on this stock to insure that foreign companies are not trying bet against T while using S. They should be look at the total amount of spectrum a foreign company will control from the close of a S deal. That deal also should not go through without major restrictions for security reasons. Something does not seem right here. I smell a major short seller is involved in this nonsense. Right now he is trying to range bound this stock price with hopes of using a high risk S deal to push it down. S will still find it hard to compete in this market will only $20 billion in new investment and a high debt load. That money will likely be gone in 2 years, especially if it tries to expand or improve its network while paying off debt.
This stock should be well on its way to $38 a share.