AT&T (T) Company Brief
Shares of AT&T (NYSE: T) are down in today’s trading. The stock touched a low of $24.50 today. At last check, it was down 1.33% to $24.55, with volume at 9.28 million.
The AT&T stock has a 52-week range of $23.78-$28.73. It is currently trading below its 50-day and 200-day moving averages of $24.60 and $25.09, respectively. The stock has seen support at $24.56 and has met with resistance at $24.98.
The consensus recommendation on AT&T is Outperform. Currently, the stock has 8 Buy, 8 Outperform, 14 Hold and 1 Sell rating.
AT&T today announced that it has entered a new agreement with Petra Solar. As per the agreement, AT&T will offer Petro Solar’s innovative technology that enables utility companies to address Renewable Portfolio Standard requirements and invest in a smart grid technology.
Commenting on the agreement, Michael Antieri, president of Advanced Enterprise Mobility Solutions at AT&T Business Solutions said that by harnessing the scale of the AT&T network to deliver more sustainable solutions, the company allows wireless connections across people and businesses. This helps in increasing efficiency. Antieri said that the company’s new agreement with Petra Solar is yet another step in integrating its wireless network capabilities with the advantages offered by smart grid technology and the leading-edge renewable energy solutions available today.
AT&T also announced today that it has been rated as the leading provider of enterprise mobility services in the U.S. by Current Analysis. The company has also launched three advanced mobility services that will assist government organizations and companies of all sizes.
On Monday, AT&T announced that it has increased its capacity on its 3G mobile broadband network in Key West and the Florida Keys.
AT&T reported its first-quarter financial results on April 21, 2010. The company had reported consolidated revenue of $30.6 billion, up $78 million, or 0.3% from the first quarter of 2009. The company had reported an operating income margin of 19.6% for the first quarter of 2010. For the same period last year, the company’s operating income margin stood at 18.8%. The company’s net income stood at $2.5 billion, or $0.42 per share. The company’s first-quarter net income included a non-cash charge of $995 million, or $0.17 per share. Excluding this charge, the company’s net income for the first quarter of 2010 stood at $3.5 billion, or $0.59 per share. For the same period last year, the company had reported net income of $3.1 billion, or $0.53 per share.
AT&T will report its second-quarter financial results on July 22, 2010.
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