Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, September 13, 2019

Article Excerpt

AT&T INC., $37.91, New York symbol T, is the largest wireless carrier in the U.S. It also offers traditional phone and satellite TV services. In June 2018, the company purchased media giant Time Warner (now called WarnerMedia) for $103 billion in cash and stock. AT&T plans to use WarnerMedia’s content to attract more users to its wireless and TV services. The stock moved up this week after activist investment firm Elliott Management sent a letter to AT&T’s board of directors outlining ways to improve shareholder value. Elliott currently owns $3.2 billion worth of the company’s shares, which is equal to roughly 1% of AT&T’s $277.0 billion market cap (the total value of all outstanding shares). Specifically, Elliott wants the company to conduct a strategic review of its operations with the possible goal of selling or spinning off its less-important operations. Those include its DirecTV satellite TV operations, the Mexican wireless business and several regional sports networks. With sales of those assets, the company could…

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