T - AT&T Inc.
37.16 +0.01 (0.03%)
After hours: 7:07PM EDT
| Previous Close | 36.76 |
| Open | 37.03 |
| Bid | 37.11 x 3000 |
| Ask | 37.20 x 3200 |
| Day's Range | 36.80 - 37.22 |
| 52 Week Range | 26.80 - 38.75 |
| Volume | 25,950,647 |
| Avg. Volume | 31,886,300 |
| Market Cap | 271.455B |
| Beta (3Y Monthly) | 0.76 |
| PE Ratio (TTM) | 15.67 |
| EPS (TTM) | 2.37 |
| Earnings Date | Oct 23, 2019 |
| Forward Dividend & Yield | 2.04 (5.55%) |
| Ex-Dividend Date | 2019-07-09 |
| 1y Target Est | 36.12 |
- Yahoo Finance Video
AT&T explores parting ways with DirecTV: RPT
AT&T is reportedly looking to cut the cord on DirecTV according to the WSJ. Yahoo Finance’s Jen Rogers, Myles Udland, Brian Sozzi and Andy Serwer discuss.
- Yahoo Finance
Analyst on AT&T: Who is going to buy DirecTV?
AT&T (T) is reportedly weighing a sale or spinoff of DirecTV, the satellite TV provider it acquired only four years ago for $49 billion, but one analyst doesn’t see a wide landscape of buyers should AT&T pull the trigger.
- Yahoo Finance
Netflix co-founder Marc Randolph: 'Focus' will help it beat Apple, Disney
Netflix co-founder says competitive streaming pricing is a "great thing" as Apple TV+, Disney+ prep November launches
- Reuters
Trian and P&G highlight activist-corporate collaboration after 'fog of war'
Eighteen months after officially burying the hatchet in one of America's most bitter proxy contests, Procter & Gamble Co CEO David Taylor and billionaire investor Nelson Peltz proclaimed their mutual respect on Thursday, underscoring how activists and corporations can end up working collaboratively. Sitting next to each other on a hotel stage in New York at the CNBC Institutional Investor Delivering Alpha Conference, the men brushed away the acrimony of two years ago when Peltz' Trian Partners was battling P&G over its strategy and asking for a board seat. "That was the fog of war," Peltz said, dismissing the rough comments P&G had made about the veteran activist who works to present himself as a partner who can offer constructive advice rather than a corporate raider intent on breaking up companies.
- Zacks
Fed Rate Cuts, Microsoft Strength & Buy Skechers (SKX) Stock - Free Lunch
The Fed cuts interest rates again, but what's next? Why Microsoft (MSFT) stock surged. The latest from AT&T (T) and FedEx (FDX). And why Skechers (SKX) stock is a Zacks Rank 1 (Strong Buy) right now - Free Lunch
- Moody's
AT&T Inc. -- Moody's says that AT&T's consideration for potentially divesting DIRECTV could be credit positive if accompanied by material leverage reduction
Moody's Investors Service (Moody's) said that following activist investor Elliott Management Corporation's disclosure of its stake in AT&T Inc. (AT&T) and its criticism of AT&T's past M&A strategies, there are media reports stating that AT&T is exploring divesting its DIRECTV business, which would be credit positive if accompanied by material leverage reduction. Moody's believes that the secular pressure on DIRECTV's satellite pay TV business, which has resulted in subscriber erosion, is a headwind unlikely to abate and could be a distraction for management while it should be focused on pressing its 5G wireless agenda, turning around its stagnating consumer base and investing in the transition of WarnerMedia's media networks from bundled linear pay-TV to Direct-to-consumer on-demand platform(s).
- Barrons.com
Podcast: AT&T Has Transformed. Should It Dial Back Its Ambitions?
AT&T is being targeted by an activist investor unhappy with the strategy. Nicholas Jasinski joins host Alex Eule to discuss why AT&T is suddenly under a microscope.
- American City Business Journals
Report says AT&T is looking to offload DirecTV — but where would it go?
Options include spinning off DirecTV into a separately traded public company or merging it with its smaller rival Dish Network Corp., which has 12 million subscribers.
- Market Realist
How Will the T-Mobile-Sprint Merger Impact Consumers?
According to Makan Delrahim, the T-Mobile and Sprint merger would increase competition in the wireless market and benefit consumers.
- Bloomberg
Timing Is Everything for AT&T to Drop DirecTV
(Bloomberg Opinion) -- AT&T Inc. CEO Randall Stephenson seems to be coming around to the right idea that the wireless carrier would be better off without its shrinking DirecTV business. Oddly enough, his decision could hinge on a legal trial in December that has little to do with his company but everything to do with how far antitrust regulators can be pushed in the Trump administration.It was the $67 billion takeover of DirecTV four years ago that first turned AT&T into a diversified communications conglomerate. Stephenson overpaid and underestimated how quickly the satellite-TV service would lose subscribers to cheaper online alternatives. With AT&T now squarely focused on expanding its 5G wireless network and integrating HBO and the other WarnerMedia assets it acquired last year, the company is finally considering parting ways with DirecTV, the Wall Street Journal reported Wednesday, citing unidentified sources. The pivot comes as activist investor Elliott Management Corp. puts pressure on Stephenson and AT&T’s board to streamline its operations. I explained in January how a sale of DirecTV might help AT&T pay down its mountain of debt more quickly and remove a cloud over its stock price. AT&T also has far too many pay-TV products, and it’s already started to play down the DirecTV brand by changing the name of DirecTV Now, a skinny live-TV streaming platform, to AT&T TV Now:One option is spinning off the unit into a separate publicly traded entity, though it’s hard to see the appeal for investors of a stand-alone DirecTV. It wouldn’t have the same advantages AT&T gets through its scale and simultaneous control of popular programming. For example, HBO went dark on Dish Network Corp.’s satellite-TV services last year because of a carriage dispute between the companies, leaving many HBO fans the choice to either switch to DirecTV or subscribe to the HBO Now app for $15 a month — both properties of AT&T. DirecTV has also lost customers rapidly while turning to desperate price increases to shore up profit margins.AT&T’s other option for unloading DirecTV is to combine the business with Dish, which is beset by the same industry challenges. Charlie Ergen, the billionaire who controls Dish, said in an interview in July that he sees “industrial logic” for putting the two together. They could substantially cut costs, and the added cash flow would aid Ergen in his efforts to build a nationwide wireless network.Regulatory friction is seen as the biggest obstacle to a DirecTV-Dish merger, with Reuters reporting Wednesday that the companies aren’t discussing a deal for that reason. But the way I see it, Stephenson and Ergen may just be awaiting the outcome of T-Mobile US Inc.’s attempt to buy Sprint Corp., as I wrote in June. Should that deal proceed, it would set a precedent for allowing the merger of two direct competitors in a highly concentrated market. So far, T-Mobile and Sprint — the No. 3 and No. 4 U.S. wireless carriers, respectively, behind AT&T and Verizon Communications — have received clearance from both the U.S. Department of Justice’s antitrust division and the Federal Communications Commission. However, 18 state attorneys general — and counting — have joined a lawsuit to block the transaction on the grounds that it will lead to higher prices for consumers, discourage industry innovation and hurt workers. The trial is set to begin Dec. 9.(1) A triumph by the companies may embolden Stephenson and Ergen. They could even argue that the pay-TV market isn’t as concentrated, with numerous new streaming-TV apps posing competition to the traditional distributors. Walt Disney Co. has constructed a $13-a-month bundle for Disney+, Hulu and ESPN+ that almost rivals denser cable-TV packages in content, and certainly does in price. The wild card, of course, is President Donald Trump. It’s been reported that he tried meddling in AT&T’s takeover of Time Warner, a unit now called WarnerMedia, because of personal grievances with the news network CNN, one of the assets AT&T inherited in the deal. As for DirecTV and Dish, “the biggest ‘regulatory’ obstacle may be the president and his undying desire to punish CNN,” analysts for New Street Research wrote in a report Thursday. Stephenson said in December 2016, when AT&T was integrating the DirecTV purchase, “We did DirecTV not because we love satellite technology, but because it gave us access to some premium content.” It’s a refrain both he and his deputy and heir apparent, John Stankey, have repeatedly recited. But the subsequent $102 billion acquisition of WarnerMedia gave AT&T all the premium content it needs. DirecTV is just a distraction now. (1) Ergen also plays a key role in the T-Mobile-Sprint merger trial. The carriers were required by the Justice Department to divest certain assets to Dish so that it can enter the wireless market and foster competition.To contact the author of this story: Tara Lachapelle at tlachapelle@bloomberg.netTo contact the editor responsible for this story: Daniel Niemi at dniemi1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
- Barrons.com
Verizon CEO Hans Vestberg Explains Why 5G Will Change Everything
Verizon CEO Hans Vestberg spoke broadly about the impact of 5G, Verizon’s growing wireless competition, and the company’s approach to its media business at a media and telecom conference.
- Zacks
The Zacks Analyst Blog Highlights: AT&T, Apple, Disney, Netflix and Amazon
The Zacks Analyst Blog Highlights: AT&T, Apple, Disney, Netflix and Amazon
- InvestorPlace
AT&T Stock Is Doomed to Become the Next GE
For years, AT&T (NYSE:T) stock has been a "yield trap." This is a stock who's dividend is too good to be true. T stock's dividend yield of 51 cents per share, currently yielding 5.5%, has been thought unsustainable by many analysts. Since AT&T stock has 7.31 billion shares outstanding, the dividend costs almost $15 billion per year to maintain.Source: Roman Tiraspolsky / Shutterstock.com To that $15 billion, add interest on $159 billion of long-term debt as of June 30, plus a capital budget of $23 billion and something's got to give.That something, according to recent media reports, could be DirecTv, the satellite service. DirecTv cost AT&T $49 billion in 2015 but has lost 2.5 million subscribers in the last year. Trouble is, neither a spin-off nor a sale to DISH Network (NASDAQ:DISH) would bring in anywhere near $49 billion.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 CBD Stocks to Buy That Are Still Worth Your Investment Dollars AT&T CEO Randall Stephenson's planned glorious retirement next year is beginning to look more like former General Electric (NYSE:GE) CEO Jeff Immelt's more ignominious exit. The DebtAs I wrote back in July and repeated after Elliott Management proposed big changes this month, AT&T has an enormous technology debt, in addition to its financial debt.Take a walk outside and you'll likely see some of it. Those copper wires hanging on those old wooden poles are obsolete. Telephony is dying. International long distance calls are free with Skype, and even teleconferencing is free with Zoom (NASDAQ:ZM).Even when upgraded with fiber to deliver TV, the value of AT&T's physical network is deteriorating. That's in part thanks to AT&T itself, which is in the process of upgrading its mobile service to 5G. But the value of that is open to question, as Alphabet (NASDAQ:GOOGL) makes its Google Fi a better deal.Do I have to mention the plans of Amazon.Com (NASDAQ:AMZN) CEO Jeff Bezos to create global internet access with low-Earth orbit satellites? The Mistake of the CenturyIn a 2016 New York Times profile of Randall Stephenson, he ordered his brother, a career lineman, to learn about the cloud.But Stephenson didn't buy or build cloud. He sold the company's data centers in 2018 and is putting his operations on the IBM (NYSE:IBM) cloud.Stephenson decided cloud was too expensive and risky early in the decade while Facebook (NASDAQ:FB) was investing in cloud before it had the cash flow to justify it. Today Facebook is worth twice AT&T.The lack of cloud investment was as big a mistake as GE's decision to buy Alstom, a French turbine maker, in 2015. That was hailed as the "best deal in a century," but GE Power has since made GE a shadow of its former self.Stephenson's plan was to use the content agreements of DirecTv, later the content of Time Warner, to keep people on his services at high and rising prices. He assumed he could license that content to other providers, also for high and rising prices. Since the Time Warner purchase Stephenson has been pushing other players hard, dropping services like NFL Network and even threatening to shut off Disney's (NYSE:DIS) ESPN. The company is also being accused of setting up fake DirecTv accounts, a charge reminiscent of the Wells Fargo (NYSE:WFC) scandals. The Bottom LineElliott Management wants to rearrange deck chairs on the Titanic. The appearance of change, the sale of some assets, could boost AT&T's stock price and let Elliott exit its $3.2 billion investment with a profit.But the problems would remain. The technology debt would remain. Much of the financial debt would remain. * 8 Dividend Stocks to Buy for a Recession AT&T is doomed.Dana Blankenhorn is a financial and technology journalist. He is the author of the environmental story, Bridget O'Flynn and the Bear, available at the Amazon Kindle store. Write him at danablankenhorn@gmail.com or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in AMZN.The post AT&T Stock Is Doomed to Become the Next GE appeared first on InvestorPlace.
- Reuters
AT&T, Dish not in talks over DirecTV deal: source
AT&T has also considered a spinoff of DirecTV into a separate public company, the report said. Last week, at a conference AT&T Chief Financial Officer John Stephens cited regulatory hurdles for any deal.
- Reuters
UPDATE 1-AT&T explores parting ways with DirecTV unit- WSJ
(Adds background, share movement) Sept 18 (Reuters) - AT&T is exploring parting from its DirecTV unit, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The wireless carrier has considered various options, including a spinoff of satellite television provider DirecTV into a separate public company and a combination of DirecTV's assets with Dish Network Corp, sources told https://on.wsj.com/2kS2Hbs WSJ. AT&T shares rose 1.5% in after-market trading. The company declined to comment on the report.
- Benzinga
Report: AT&T Exploring Sale Of DirecTV Unit
AT&T Inc. (NYSE: T) is evaluating a sale of its satellite business DirecTV, which would mark a departure from a prior corporate strategy, The Wall Street Journal reported. AT&T acquired DirecTV in 2015 and now is considering multiple strategic alternatives, including a spinoff of the satellite TV business or selling assets to rival DISH Network Corp (NASDAQ: DISH), sources told WSJ.
- InvestorPlace
Thursday’s Vital Data: Roku, AT&T and Netflix
U.S. stock futures are circling unchanged this morning after a quiet reaction to yesterday's Federal Reserve announcement. The central bank cut its target rate by a quarter-point as expected, and the market is taking the news in stride. With the uncertainty of the meeting out of the way, it looks like the uptrend carrying stocks into this week is poised to continue.Source: Shutterstock Against this backdrop, futures on the Dow Jones Industrial Average are up 0.05%, and S&P 500 futures are higher by 0.05%. Nasdaq-100 futures have added 0.04%.In the options pits, put trading outpaced calls for the first time in weeks, even as overall volume climbed slightly above average levels. Specifically, about 18 million calls and 18.4 million puts changed hands on the session.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe return of put demand pushed the CBOE single-session equity put/call volume ratio up to 0.70 -- a three-week high. Meanwhile, the 10-day moving average held its ground at 0.60.Options traders zeroed in on three big names. Roku (NASDAQ:ROKU) was flooded with volume after two new players entered the streaming industry. AT&T (NYSE:T) continued to digest last week's huge gains after news of a $3.2 billion stake taken by Elliot Management Corp. Finally, Netflix (NASDAQ:NFLX) shares are attempting to bottom but were rejected once more by overhead resistance.Let's take a closer look: Roku (ROKU)Roku shares crashed 14% Wednesday and are down another 4% premarket after news hit that competition is heating up in the streaming space. Facebook (NASDAQ:FB) unveiled a new line of Portal TV devices that includes streaming and video calling. Adding insult to injury, Comcast (NASDAQ:CMCSA) announced they would provide a free Xfinity Flex streaming box to its internet-only subscribers. * 8 Dividend Stocks to Buy for a Recession The meteoric ascent for ROKU stock was bound to succumb to gravity, but this certainly isn't the type of mean reversion shareholders were hoping for. This month's descent has been vicious and will take time to heal. With today's down-gap, ROKU will open below its 50-day moving average and could soon test its earnings gap area at $117.Thursday's freefall lit a fire under options trading. Activity rocketed to 278% of the average daily volume, with 390,701 total contracts traded. Calls actually led the way, despite the drubbing, with 54% of the day's take.The increased demand drove implied volatility higher to 65%, placing it at the 29th percentile of its one-year range. If you're looking for a knife catch play, selling bull put spreads is attractive here. AT&T (T)AT&T has one of the prettiest charts on the planet heading into today's session. It's uptrend scored increasing momentum during last week's ascent, and the five-day pullback that has since formed is textbook. Volume has been light, and the size of the candles has been average, signaling garden-variety profit-taking instead of trend-ending distribution.Two narratives driving the stock this month were the recent disclosure of a $3.2 billion investment in AT&T by activist investor Elliot Management Corp., and yesterday's Wall Street Journal article revealing AT&T was "exploring parting with its DirecTV unit."As far as options trading goes, calls outpaced puts by a wide margin, accounting for 70% of Wednesday's tally. Total activity grew to 185% of the average daily volume, with 224,808 contracts traded.Implied volatility remains subdued at 21% or the 20th percentile of its one-year range. * The 7 Best S&P 500 Stocks of 2019 So Far Netflix (NFLX)July's disappointing earnings release sparked a downtrend in Netflix, and it has yet to reverse. Signs of slowing momentum are beckoning to bottom fishers, but patience may be needed. Yesterday's drop reaffirmed resistance at $300 and gave traders a clear level to trade around. Get bullish above, but stay bearish below.The news was light Wednesday, but that didn't prevent options traders from landing NFLX stock on the most-actives leaderboard. Calls proved more popular than puts by adding 57% to the session's sum. Activity climbed to 135% of the average daily volume, with 199,999 total contracts traded.Implied volatility has been steadily creeping higher and pushed to 48% yesterday. That lands it at the 37th percentile of its one-year range and means premiums are now pricing in daily moves of $8.80 or 3%.As of this writing, Tyler Craig held bullish options positions in ROKU. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 Dividend Stocks to Buy for a Recession * 10 Companies Making Their CEOs Rich * The 7 Best S&P 500 Stocks of 2019 So Far The post Thursday's Vital Data: Roku, AT&T and Netflix appeared first on InvestorPlace.
- Barrons.com
The Dow Is Looking for Direction, While AT&T Gains and U.S. Steel Sinks
Investors are still digesting Wednesday’s decision by the Federal Reserve to cut interest rates by 0.25 percentage point.
- Reuters
UPDATE 2-Brazil's Oi in talks to sell mobile unit to Telecom Italia, Telefonica -sources
Brazilian telecommunications firm Oi SA is in talks with Spain's Telefonica SA and Italy's Telecom Italia SpA to sell its mobile network to avoid insolvency, five people with knowledge of the matter said. Oi has been struggling to turn around its business since filing for bankruptcy protection in June 2016 to restructure approximately 65 billion reais of debt. Brazil's largest fixed-line carrier expects to raise more than 10 billion reais ($2.4 billion) by selling its mobile operations, according to two of the sources, who spoke on condition of anonymity because the talks are confidential.
- Yahoo Finance Video
AT&T considers sale of DirecTV
AT&T may be looking to cut the cord with DirecTV. According to reports, the company is exploring other options with Dish Network. Yahoo Finance’s Alexis Christoforous, Brian Sozzi, and Scott Gamm discuss what selling off DirecTV could mean for AT&T.
