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AT&T Inc. (T)

  • Feb. 7, 2013, 11:30 AM
    AT&T (T) may be looking to take advantage of low corporate debt rates yet again: Bloomberg reports Ma Bell is thinking of issuing 3-year notes with a floating rate linked to LIBOR. Considering the company has May 2016 notes yielding just 1.08%, don't expect the premium to amount to much. AT&T had $70B in debt on its balance sheet at the end of Q4.
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  • Feb. 6, 2013, 12:51 PM
    The average mobile user gobbled up 201MB of data/month in 2012, more than twice the 92MB/month consumed in 2011, according to this year's update to Cisco's (CSCO) Visual Networking Index. Cisco predicts mobile data traffic will post a 66% CAGR from 2012-2017, with 47% of 2017 traffic coming from Asia-Pac, 46% being offloaded onto Wi-Fi gear and femtocells, and 66% stemming from mobile video (YouTube dominates). Key mobile infrastructure players: ERIC, ALU, FFIV, ALLT, PKT, RKUS, DRWI, CRNT  (last year: I, II)
  • Feb. 4, 2013, 5:19 PM
    AT&T (T) has appointed Mike McCallister, CEO of health insurance giant Humana from 2000-2012, to its board and audit committee. McCallister's nomination comes as AT&T tries to grow its machine-to-machine (M2M) subscriptions, in the healthcare market and elsewhere.
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  • Feb. 4, 2013, 5:17 PM
    TD Ameritrade's Investor Movement Index declined to 4.71 in January, but continues to reflect bullish positioning, say the report authors. Among the stocks seeing net buying activity on dips were AAPL, T, INTC, MSFT, and BAC. Sold on the rips were DELL, C, JPM, ORCL, and LVS. Momentum stocks continuing to be bought were FB and DDD.
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  • Feb. 4, 2013, 12:54 PM
    AT&T (T), Verizon (VZ), and other U.S. telcos are on edge over an FCC proposal to free up spectrum for public Wi-Fi networks that could significantly lower mobile data usage. Intel and Qualcomm want the spectrum to be licensed, and Cisco is raising interference concerns - all 3 have an interest in keeping carriers happy. However, Google and Microsoft support the proposal. With carrier data ARPUs surging and voice ARPUs declining, the stakes are high. If the project goes ahead, it could benefit telecom Wi-Fi hardware providers RKUS, ERIC, and ARUN.
  • Feb. 1, 2013, 11:39 AM
    Leap Wireless (LEAP +4.3%) spikes to $6.01 on an upgrade to Strong Buy from JANCO Partners, which argues shares have declined even as nothing has happened to make the firm change its $7.50 PT. Like others, JANCO sees the struggling prepaid carrier as an attractive M&A target thanks to its spectrum, and believes recent spectrum deals (I, II) bode well for Leap's buyout price. Q4 results are due on Feb. 20. (Jefferies downgrade)
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  • Feb. 1, 2013, 10:17 AM
    Verizon (VZ +2.5%) outperforms following an upgrade to Overweight from Piper: the firm likes Big Red's unmatched wireless network and thinks 2013 expectations have been reset. AT&T (T +2.2%) is up almost as much.
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  • Jan. 27, 2013, 3:03 AM
    Consumers who buy phones from cellular carriers no longer have legal protection to unlock the devices so they can work on another operator's network. Under a change in regulation from the Library of Congress's Copyright Office that came into force yesterday, unlocking phones is not expressly permitted under law. "It may go to court some time, and then it will be up to a judge," says lawyer Mitch Stoltz.
  • Jan. 25, 2013, 6:57 PM
    AT&T (T +0.8%) closed slightly higher after posting mixed Q4 results (thanks largely to subsidized iPhone sales), providing roughly in-line 2013 guidance, and announcing a $1.9B spectrum purchase. During the Q4 call, Ma Bell suggested its international efforts (previous) could include carrier partnerships in addition to M&A. The company also mentioned it has thought about offering smartphone financing plans (in lieu of subsidies) a la T-Mobile. Dish Network (DISH +3%) rallied on news of AT&T's spectrum buy.
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  • Jan. 25, 2013, 10:56 AM
    AT&T (T) continues its spectrum-buying binge by acquiring 700 MHz.-band spectrum from Verizon Wireless (VZ, VOD) in exchange for $1.9B and higher-frequency spectrum. The licenses AT&T is buying cover 42M people in 18 states, and will be used to deploy 4G services. The deal comes shortly after AT&T agreed to buy ATN's wireless ops and spectrum, and received an FCC green light to buy 2.3 GHz. spectrum from NextWave and others. Verizon agreed to sell a large chunk of 700 MHz. licenses in exchange for receiving FCC approval for its cable spectrum purchases.
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  • Jan. 24, 2013, 4:45 PM
    A little more on AT&T: Wireless op. margin fell 100 bps Y/Y to 14.5% thanks to iPhone sales. Wireline revenue -0.5%, op. margin up 30 bps to 12%. Consumer wireline +3%, business -2.1%. Wireline data +6.9%, voice -8.8%, other -5.2%. Total broadband subs flat, but ARPU up 10%. 192K U-Verse TV subs added vs. 198K in Q3. 2013 capex budget of $21B, up from 2012's $19.5B. More buybacks expected.
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  • Jan. 24, 2013, 4:44 PM
    More on AT&T: 2013 free cash flow to fall from 2012's $19.4B. 1.1M Q4 wireless net adds, 780K postpaid. Verizon had 2.1M postpaid net adds. 10.2M smartphones sold, 8.6M were iPhones (AAPL). Wireless service revenue +4.2% Y/Y (was +4.5% in Q3). Postpaid ARPU was $64.98, up 1.9% Y/Y but down 0.3% Q/Q. Postpaid churn was 1.19% vs. 1.21% a year ago, total churn 1.42% vs. 1.39% prior. T -0.2% AH. CC underway (webcast). (PR) (slides)
  • Jan. 24, 2013, 4:05 PM
    AT&T (T): Q4 EPS of $0.44 misses by $0.02. Revenue of $32.58B (+0.2% Y/Y) beats by $360M. $4.4B in stock buybacks. Expects 2%+ consolidated revenue growth, EPS growth in the "upper-single digits or higher," and free cash flow of $14B+ in 2013. Shares -0.5% AH. (PR)
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  • Jan. 24, 2013, 12:10 AM
    Notable earnings after Thursday’s close: CPHD, CRUS, ED, EGHT, ETFC, FLEX, INFA, JBHT, JNPR, KLAC, MSFT, MXIM, QLGC, RMBS, RMD, SBUX, SCSS, SXL, SYNA, T, TKR, TPX, VRSN
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  • Jan. 23, 2013, 5:35 PM
    Notable earnings after Thursday’s close: CPHD, CRUS, ED, EGHT, ETFC, FLEX, INFA, JBHT, JNPR, KLAC, MSFT, MXIM, QLGC, RMBS, RMD, SBUX, SCSS, SXL, SYNA, T, TKR, TPX, VRSN
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  • Jan. 22, 2013, 8:44 AM
    AT&T (T) buys the wireless business of Atlantic Tele-Network (ATNI) for $780M in an all-cash transaction slated to close in the second half of the year. The deal will give AT&T the Alltel spectrum business which is focused in rural areas of Georgia, North Carolina, South Carolina, Illinois, Ohio, and Idaho.
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Company Description
AT&T Inc, through its subsidiaries and affiliates, provides wireless and wireline telecommunications services in the United States and internationally. The Company has three reportable segments: Wireless, Wireline, and Other.