Why did AT&T move?
Written after the close on
AT&T roughly flat as satellite venture news offset target cut. AT&T fell sharply over the last five trading days, a drop steeper than the Communication Services sector's clear decline while the S&P 500 was roughly unchanged, so the weakness was concentrated in telecom. In the last session the stock was roughly unchanged even as the market rose clearly and its sector edged up, with the satellite venture and the fiber deal balancing the target cut. Watch the late-October earnings report for how management frames fiber and satellite spending against the dividend.
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