All Northlake positions in AT&T have been sold in the last couple of trading days. The stock has been a disappointment. It did not participate in the big market rally in 2009, providing only a minimal return through its dividend yield. Among the many issues that have been troubling the stock are (1) weak enterprise […]
Ahead of AT&T’s third quarter earnings report I decided that I would either sell or hold Northlake’s shares based on what was reported and what I heard on the conference call. Northlake clients have owned AT&T for almost a year and the stock prices is actually down a bit offset by the hefty quarterly dividend. […]
In response to solid 2Q09 earnings, AT&T shares are breaking out of a multi-month funk where they sharply lagged the market and peer Verizon. The results were at the high end of expectations and contained no major negative surprises. The stage is set for a better second half and 2010 as the economy stabilizes and […]
AT&T reported better than expected 1Q09 results. The upside was driven by margins in both the wireline and wireless business segments. Cost control and better than forecast benefits from the iPhone were the drivers as revenues fell a bit shy of estimates. Overall, EPS of 53 cents beat the 48 estimate handily. It was a […]
AT&T reports 1Q09 results before the open on Wednesday. Current consensus calls for EPS of 48 cents on revenues of $31.1 billion. EBITDA is expected to be about $10.1 billion. Estimates have been pretty stable over the past 90 days after taking a big hit due to the economy and pension accounting. The stock has […]
SNL Kagan has an article out today discussing the potential upgrade to 4G wireless networks. The article quotes a recent forecast from Cisco Systems (CSCO) with some astonishing statistics: • Global mobile traffic will exceed two exabytes/month by 2013 (An exabyte is equal to: 1 billion gigabytes; 1,000 petabytes; 250 million DVDs); • Global mobile […]
AT&T has been lagging a bit the last few days, especially today. Telecom in general has had a tough time. I think worries over wireless competition amid slowing subscriber growth and tight consumer budgets is probably an issue. For AT&T in particular, there is also the threat of a strike. A contract with over 100,000 […]
Immediately below are two comments on AT&T’s 4Q08 earnings report. The first one is my immediate reaction writtne prior to the conference call. The second one is my summary of the call. Overall, I would have liked better 2009 guidance but I think the stock offers upside while providing downside protection given the large dividend, […]
AT&T is projected to report EPS of 65 cents on revenues of $31.35 billion. A negative reaction to Verizon’s report and some negatives that cropped up took T shares down hard ahead of the report. This may take out risk as the bar is lowered but it also raises the stakes for the “resilience” theme […]
In big news for media and telecom, major media outlets are reporting that President-elect Obama will nominate Julius Genachowski to head the Federal Communications Commission (FCC). Genachowski was technology adviser to Obama during the campaign. According to the Wall Street Journal, he put together detailed plans for Obama “that expressed support for open Internet or […]
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