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AT&T Inc. (T)

  • Jun. 13, 2013, 6:00 AM
    Time Warner Cable (TWC) is reportedly one of the most aggressive of the incumbent TV broadcasters that are trying to strangle the emergence of Internet competitors at birth. The broadcasters are trying to prevent media companies from selling their content to the likes of Intel (INTC) and others, including through the use of financial incentives and penalties, and contract clauses that forbid the sale of channels to Internet distributors.
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  • Jun. 10, 2013, 9:39 AM
    Argus upgrades AT&T (T +1%) to Buy, leading shares to open slightly higher. The upgrade comes as AT&T decides to follow Verizon's lead once again, this time by requiring postpaid phone subs whose contracts end in March 2014 or later to wait a full 24 months (rather than the current 20 months) before being eligible for a subsidy. On Friday, Jefferies reported AT&T and Verizon were looking to lower phone subsidies by selling carrier-branded phones (likely Android devices) from Chinese white-box OEMs.
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  • Jun. 7, 2013, 2:01 PM
    Calendar Q2 iPhone (AAPL +0.6%) sales are trending towards ~30M (above a ~27M consensus), says Jefferies' Peter Misek in an info-packed note. Misek also: 1) Believes Apple has set aggressive Q3 and Q4 iPhone build plans, with nearly half the Q4 builds involving a cheaper iPhone. 2) States the iPad Mini is "cannibalizing more than expected," and expects the current model to be kept and discounted after a retina model launches. 3) Expects the 5th-gen iPad to be ~50% lighter and 30%-40% thinner. 4) Thinks AT&T (T) and Verizon (VZ) are talking with Chinese white-box OEMs about selling carrier-branded phones, in an effort to cut subsidy costs. 5) Believes consumer BlackBerry Z10 (BBRY +0.5%) sales have slowed, but that Q10 sales are better than expected.
  • Jun. 7, 2013, 3:48 AM
    More on NSA tracking: the agency reportedly monitors call data from AT&T (T) and Sprint (S), as well as from Verizon (VZ) (as reported yesterday). Together, the service providers have 314.6M wirelesss and landline accounts. The NSA's operations also encompass purchase information from unnamed credit-card providers.
  • Jun. 6, 2013, 5:52 PM
    AT&T (T) -0.9% AH after stating in a Q2 business update it expects wireless postpaid net adds of 500K for the quarter. Wireless EBITDA margin is expected to be flat Q/Q, and (thanks to investments and phone subsidies) consolidated margins are expecte to be down Y/Y. AT&T reported 296K postpaid net adds for Q1 (-69K if not for 365K tablet net adds), a number that didn't go over well with investors. No details about Q2 prepaid net adds; they were -184K in Q1.
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  • Jun. 6, 2013, 11:13 AM
    AT&T (T) has reportedly joined the ranks of companies weighing bids for Hulu (DIS, CMCSA, NWS): sources tell Kara Swisher Ma Bell is in talks with a company run by former News Corp. COO Peter Chermin to make a joint offer for the online video site. But before investors start mulling the potential U-verse and mobile implications, it should be noted Yahoo, DirecTV, Time Warner Cable, and Guggenheim Partners have also been named as interested parties in recent weeks. (previous)
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  • Jun. 6, 2013, 10:20 AM
    Pictures of Nokia's (NOK +1.4%) rumored EOS phone - a Lumia device said to feature a 41MP image sensor similar to that of the Symbian-based 808 PureView - have leaked. Like the 808, the EOS has a giant, protruding, camera module on its back, replete with a large flash. In-line with a May report, it also appears to have a polycarbonate body and a ~4.5" display. Sources tell The Verge the pictures are of "genuine engineering samples," that Nokia is expected to launch the device in July, and that AT&T (T) will exclusively sell it in the U.S.
  • Jun. 6, 2013, 7:18 AM
    AT&T (T) sells $564M worth of its stake in America Movil to reduce its position in the Carlos Slim entity  to close to 9%. A round of buybacks by America Movil had the effect of increasing AT&T's percentage of shares to well-above the historic norm.
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  • May 30, 2013, 9:26 AM
    BMO launches coverage on U.S. carriers with a bullish slant: Verizon (VZ), Sprint (S), CenturyLink (CTL), and Frontier (FTR) have all been started at Outperform. AT&T (T) has been started at Market Perform, and Leap Wireless (LEAP), which has quite a few critics on both the sell-side and (judging by its huge short interest) the buy-side, has been started at Underperform. (yesterday's drop)
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  • May 30, 2013, 3:26 AM
    While service providers have been worrying about households ending their cable TV subscriptions, a bigger trend has been customers dropping wire-line Internet. With consumers being able to take advantage of faster cellular networks and the proliferation of WiFi, 1% of households ended their Internet subscription last year vs 0.4% for pay-TV.
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  • May 21, 2013, 5:40 AM
    Goldman Sachs lifts its forecasts for the S&P 500 (SPY), as David Kostin and company now say they expect the index to gain 5% by year-end to 1,750, 9% to 1,900 in 2014, and 10% to 2,100 in 2015. The rationale: expectations of above-trend real GDP growth beginning next year (Mr. Evans' "escape velocity" ?) coupled with P/E multiple expansion to 16x. Furthermore, dividends should rise ~30% over the next two years, bolstering the firm's claim that dividend-paying equities (DVY) are one of the only places U.S. investors can look to for income-generation. Some of GS's dividend picks, as listed on MarketWatch: Mattel (MAT), Ford (F), Philip Morris (PM), Walgreen (WAG), Chevron (CVX), U.S. Bancorp (USB), GE, Western Union (WU), Dow Chemical (DOW), and AT&T (T).
  • May 20, 2013, 11:54 AM
    Leap Wireless (LEAP -2%) slumps after Deutsche cuts shares to Sell while reiterating its $4 PT. The firm is worried about tougher prepaid competition from T-Mobile (via MetroPCS) and AT&T (via its new Aio prepaid brand), and a relatively high valuation (7.4x 2014E EV/EBITDA vs. 4.7x-7x for peers) in spite of "inferior growth prospects." Barclays launched coverage with an Underweight last Friday.
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  • May 18, 2013, 6:23 PM
    32% of Q1 U.S. smartphone sales involved prepaid phones, up from 21% a year ago, says NPD. That trend could spell trouble for AT&T (T) and Verizon Wireless (VZ, VOD), whose recent growth has been heavily tied to selling costly postpaid data plans. With 72% and 61% of the carriers' postpaid bases now respectively on smartphones, they face pressure to gain prepaid buyers without cannibalizing postpaid subs. Cannibalization fears have led AT&T and Verizon to make their prepaid plans 3G-only; Sprint (S) and T-Mobile (TMUS) offer 4G. A mix shift towards unsubsidized prepaid phones could also be a challenge for Apple (AAPL), estimated to have just 8% of the Q1 U.S. prepaid smartphone market (though that's up 4x Y/Y).
  • May 17, 2013, 9:10 AM
    Leap Wireless (LEAP) -2.5% after Barclays starts coverage with an Underweight and $4 PT as part of a broader coverage launch of U.S. telecom service providers. Tower owners SBA (SBAC) and American Tower (AMT) have been started at Overweight, and so has Verizon (VZ). AT&T (T) and T-Mobile USA (TMUS) have been started at Equal Weight.
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  • May 16, 2013, 11:07 AM
    Deutsche Telekom (DTEGY.PK) can sell its 74% stake in T-Mobile USA (TMUS +2.5%) prior to the end of an 18-month lockup period if it receives a buyout offer for the entire stake, says CFO Timotheus Hoettges. The comments seem to be giving a lift to the #4 U.S. carrier. T-Mobile CFO Braxton Carter recently stated his company wanted to extend the footprint of the MetroPCS brand by ~100M POPs over the next 6 quarters. T-Mobile is counting on 4G support to give MetroPCS an edge over prepaid rivals such as Leap (LEAP) and AT&T's 3G-only Aio prepaid service.
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  • May 15, 2013, 10:49 AM
    AT&T's (T +0.5%) mobile ops will rebound in 2H, CEO Randall Stephenson promises at a JPMorgan conference. The remarks follow a Q1 in which AT&T only added 296K postpaid subs (it lost 69K if one excludes tablet adds), and shed 184K prepaid subs - the carrier is counting on its new Aio prepaid plans to improve the latter. Stephenson adds AT&T is looking to expand in Europe (previous), but when asked whether he sees European M&A opportunities, he replied, "I don't know. It's a difficult place for that sort of thing."
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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.