AT&T added 419,000 wireless phone subscribers
Shares of AT&T Inc (NYSE:T) are up 3.9% at $18.93 at last glance, earlier as high as $19.08, after the telecommunication name’s second-quarter earnings report. The company reiterated its full-year forecast and posted mixed results, with earnings beating estimates while revenue came in below expectations. Giving the stock a boost, however, is a reported additional 419,000 wireless phone subscribers with monthly bills, as its higher-priced plan attracted customers.
Today’s pop is bringing AT&T stock closer to its July 18, 52-week high of $19.33. The equity is also popping back above the 20-day moving average, which helped guide it to that peak. T is sporting a 12.2% lead for 2024.
The lack of options volume following the earnings event is unusual, though it’s still worth noting that the weekly 7/26 19-strike call is seeing the most activity today. Analysts have yet to chime in with any adjustments, either. Currently, 16 of the 30 brokerages in coverage carry a “buy” or better rating on T.