AT&T’s stock ended its steady march higher Tuesday, dropping nearly 3% after a respected Wall Street analyst downgraded the telecom and media giant’s shares and called its pay-TV un…
’s stock ended its steady march higher Tuesday, dropping nearly 3% after a respected Wall Street analyst downgraded the telecom and media giant’s shares and called its pay-TV unit a “cancer.”
Shares were on pace for one of their biggest single-day declines in 2019, falling $1.19 to $38.44. They had been gaining significant ground over the past couple of months, reaching a nearly two-year high of $39.61 as of Monday’s close of trading.deteriorated,” MoffettNathanson analyst wrote in his note to clients. In downgrading the company’s shares to “sell,” Moffett reaffirmed his 12-month price target of $30 a share.AT&T's John Stankey On Disney+ "Good Start," No Brain Drain At HBO & HBO Max "IQ Test" For Subscribers
Moffett, who has tracked the company and the pay-TV sector for decades, focused most of his criticism on the Entertainment Group, which includes DirecTV, U-verse and AT&T Now. “A year ago, AT&T promised to deliver ‘EBITDA stability’ for the Entertainment Group in 2019,” Moffett wrote. “They have delivered on that promise… but at a horrific cost.” In order to reverse EBITDA declines, the analyst continued, AT&T raised prices and curtailed promotional discounts on video service. The company also took a hard line in several carriage negotiations with CBS, Nexstar and others, resulting in blackouts.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
For Wall Street, Russia Has Become ‘Bulletproof’Sorry, haters, Putin’s stock market is better than yours.
Lire la suite »
Wall Street Journal: Sondland kept Trump administration officials briefed on Ukraine dealingsThe US Ambassador to the EU kept several Trump administration officials briefed on his attempts to get Ukraine to launch investigations later discussed in President Trump's July call with the Ukrainian President, according to the Wall Street Journal
Lire la suite »
Wall Street nudge up as investors await U.S.-China trade clarityWall Street's main indexes were very slightly higher on Monday after closin...
Lire la suite »
Stocks grab another round of records as Wall Street parses trade newsStocks finished slightly higher on Monday, carving out record closes for all three major equity benchmarks, as investors tried to gauge the progress on a...
Lire la suite »
For Wall Street, Russia Has Become ‘Bulletproof’Sorry, haters, Putin’s stock market is better than yours.
Lire la suite »
These former hedge-fund managers quit Wall Street to live on the open seas — at $1,500 per monthBill and Grace Heaton, both in their 30s, say they’re living the dream: ‘Don’t go chasing things that you think will buy happiness.’
Lire la suite »