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AT&T Shares Slip After DirectTV Now Changes, CFO Comments on Earnings

Martin Baccardax

shares traded near the bottom of the S&P 500 Wednesday after the group unveiled a major revamp of its DirecTV Now streaming service and its CFO made some cautious comments on near-term earnings at an investor conference in Florida. The Verge reported that AT&T will both dump previously offered channel bundles on DirectTV Now, while raising package prices to around $50 a month, as it looks to add HBO to its base plan. The reports followed comments from AT&T CFO John Stephens, who reaffirmed the group's earnings guidance in a presentation at Deutsche Bank's Media, Internet and Telecom Conference in Palm Beach, Florida Tuesday, but noted that near-term numbers will fluctuate given the inclusion of WarnerMedia, following last year's $85.4 billion merger with Time Warner, and the changing nature of its mobility business.