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Stock Market & Financial Investment News

News Breaks
March 31, 2014
09:28 EDTTAT&T approves new 300M share repurchase authorization
The board of directors of AT&T authorized the repurchase of up to 300 million shares, representing approximately 6% of AT&T common shares outstanding, with no expiration date. This authorization is in addition to three other 300 million share repurchase authorizations approved by the board of directors in December 2010, July 2012 and March 2013. The company completed repurchases under the 2012 share authorization last year. “The board’s authorization reaffirms our confidence in the strength of the business and our commitment to returning value to our shareholders while investing in our networks and operations,” said Randall Stephenson, AT&T chairman and CEO. Under the March 2013 300 million share authorization, AT&T repurchased about 175 million of its shares through March 28, 2014. Since the company began buying back shares in 2012, AT&T has repurchased 775 million of its shares, or approximately 13% of shares outstanding. The company expects to maintain a net-debt-to-adjusted-EBITDA ratio in the 1.8 range or lower. Future repurchase decisions will be made opportunistically.
News For T From The Last 14 Days
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October 21, 2014
13:09 EDTTEarnings Preview: AT&T to benefit from strong iPhone 6 demand, Wells Fargo says
AT&T (T) is expected to report third quarter earnings after the market close on Wednesday, October 22, with a conference call scheduled for 4:30 pm ET. AT&T is a global telecommunications company offering wireless and long distance services. EXPECTATIONS: Analysts are looking for earnings per share of 64c on revenue of $33.24B, according to First Call. The consensus range for EPS is 59c-66c on revenue of $31.77B-$34.34B. LAST QUARTER: AT&T reported second quarter EPS of 62c against estimates for 63c on revenue of $32.6B against estimates for $33.22B. On its Q2 earnings report, the company forecast FY14 EPS growth at the low end of a mid-single digit range, compared to consensus of $2.62. It sees: FY14 consolidated revenue growth in the 5% range, versus consensus $133.93B; FY14 free cash flow in the $11B range; FY14 capital expenditures remaining in the $21B range. In Q2, AT&T reported the following: total branded smartphone net adds, both postpaid and prepaid, of 576,000; total branded tablet net adds of 250,000; 366,000 postpaid tablet net adds; postpaid churn of 0.86%. On September 25, DirecTV (DTV) stockholders voted overwhelmingly to approve DIRECTV’s proposed merger with AT&T. STREET RESEARCH: Street research has been light in the weeks leading up to AT&T's Q3 earnings report. On September 15, Wells Fargo said AT&T should particularly benefit from strong Apple (AAPL) iPhone 6 demand. After Apple reported that over 4M iPhone 6 units were pre-ordered in the first 24 hours of eligibility, Wells Fargo said that it believed strong demand for the phones will be positive for all of the wireless carriers, but particularly for AT&T because of its strategic decision to focus on its early upgrade "Next!" program. The firm maintained its Outperform rating on AT&T. PRICE ACTION: AT&T’s shares have fallen approximately 4% since the company's Q2 report, but they did manage to make a 52-week high of $37.48 in late July. In afternoon trading ahead of tomorrow’s Q3 report, AT&T’s shares are up 0.5%.
October 20, 2014
07:15 EDTTAT&T weekly volatility elevated into Q3 and outlook
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October 16, 2014
08:29 EDTTAT&T sees 359K customers seek refunds for 'cramming' charges, Time reports
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October 15, 2014
10:11 EDTTFrontier granted PURA approval for AT&T wireless ops. in Connecticut
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October 9, 2014
12:01 EDTTAT&T announces agreement with Accuris, BSG
AT&T, Accuris Networks and BSG Wireless announced an agreement to bring to market the new AT&T Wi-Fi Hub. This hub will make it possible for wireless operators to deliver turnkey Wi-Fi roaming services to their customers.
October 8, 2014
12:03 EDTTAT&T Mobility pays $80M to FTC over mobile cramming charges
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