News / Business
Stock Update on AT&T Inc (NYSE: T) planning huge capital expenditures
Stock Update
AT&T Inc. (NYSE: T) shares are
currently trading at $26.59 a weekly gain of $1.05 gain which is 4.11% up
from last Monday’s closing price of
$25.54. The company’s shares have 52-week trading range of $23.78 - $28.73. The
daily average volume of the stock is 31.29 million shares. The company has 50
day moving average of $24.74 and 200 day moving average of $25.13. The RSI of
the stock is 72.99, indicating an overbought position. The sustenance and
resistance levels of AT&T Inc. are $26.04 and $27.04. The Market
Capitalization of the company is $157.12 billion.
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AT&T in its second quarter results reported a sharp increase in its
capital expenditure on wireless network. Its wireless expenditure grew by 50%
in second quarter against previous year same quarter. This spending will affect
the cash flows of the company; however it will also increase the customer
satisfaction levels as the company has been able to provide benefits like
faster downloads, less blocked calls and reduced call rates. The average
monthly revenue per user and data revenue per user both have increased in this
quarter.
Most of the Capital expenditure has been applied for improving its 3G
network. The company has also bought additional spectrum. AT&T’s capital
expenditure is expected to be nearly $7.5 billion toward wireless business and
$10.9 billion towards its wireline business. Going forward AT&T would shift
its capital expenditure from wireline to wireless business.
AT&T Inc. on Tuesday reported the purchase of wireless assets from
Verizon Wireless, a joint venture of Verizon Communication Inc. and Vodafone
plc. The acquisition was made a price of $2.35 billion, will increase its
wireless coverage in rural areas across 18 states. Now AT&T’s wireless
network coverage will extend to rural areas of
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AT&T inc. and Verizon Communications, Inc. are in talks with major
network carriers to provide contactless mobile payments system to its customers
as a substitute to debit and credit cards, Bloomberg reported. This move can
post good competition for payment transaction companies like Mastercard, Inc
and Visa, Inc.
AT&T Inc. is a
communications holding company. The company is into wireline and wireless
business segment. The Company, provides local and long-distance phone service,
wireless and data communications, Internet access and messaging, IP-based and
satellite television, security services, telecommunications equipment, and
directory advertising and publishing.
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