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Wire

LiveOne Expands Car Entertainment Platform Collaboration With AT&T

LiveOne (LVO) said Wednesday it is launching an expanded collaboration with AT&T (T) and Cisco (CSCO) to provide in-vehicle entertainment services in AT&T's Connected Car platform.The project will allow automotive original equipment manufacturers to install entertainment services using AT&T's Connected Car platform and Cisco's billing technology, and LiveOne will provide music and live audio content, the company said.LiveOne said its services will be available as a bundled entertainment option in some vehicles equipped with AT&T Connected Car services.Financial details were not provided.Price: $6.58, Change: $-0.13, Percent Change: -1.87%

$CSCO$LVO$T
Wire

AT&T Faces Risks to Broadband, Mobile Subscriber Growth From Satellite Constellations, Oppenheimer Says

AT&T (T) faces risks to longer-term broadband and mobile subscriber growth from satellite low-earth orbit constellations, Oppenheimer analysts said in a Wednesday note.The analysts said that relative to its telecommunications peers, AT&T has the most broadband exposure, but note it is less exposed than cable service providers.Oppenheimer said that while AT&T is planning new fiber passings in over 60 million homes by 2030, penetration will likely disappoint, and the company may stop at 50 million.The analysts said they expect the company to face pressure on subscriber and average revenue per user growth over the next several years.Oppenheimer downgraded the stock's rating to perform from outperform.Price: $23.79, Change: $-0.85, Percent Change: -3.43%

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Research

Oppenheimer Downgrades AT&T to Perform From Outperform

AT&T (T) has an average rating of overweight and mean price target of $30.30, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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Wire

AT&T, Wiliot Expand Supply Chain Data Technology Partnership

AT&T (T) expanded its partnership with Wiliot to scale deployment and management of a sensor-based supply chain data platform across enterprise operations, Wiliot said Thursday.The updated agreement moves toward a systems integration and device certification structure to handle massive network installations, the company said.AT&T will supply the network infrastructure, cellular connectivity, and field execution while Wiliot provides the core sensing technology, Wiliot said.Both entities plan to eventually integrate the generated supply chain information directly into AT&T's commercial service offerings, it added.Price: $25.10, Change: $+0.20, Percent Change: +0.82%

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Wire

Street Color: AT&T Receives US Federal Communications Commission Approval to Acquire EchoStar's 50 Megahertz of Spectrum

Street Color: AT&T Receives US Federal Communications Commission Approval to Acquire EchoStar's 50 Megahertz of Spectrum

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Wire

Nice Remains Leading Cloud Contact Center Player With Limited Competition, Morgan Stanley Says

Nice (NICE) remains a leading player in the cloud contact center market, with limited competitors able to offer similar functionality at scale and strong conversational artificial intelligence capabilities, Morgan Stanley said in a Monday note.The company's large base of legacy on-premise workforce engagement management customers provides a durable source of growth as those customers transition to cloud offerings at higher average selling prices, the investment firm said. Morgan Stanley lowered its price target on Nice to $130 from $148 while maintaining its overweight rating.Morgan Stanley highlighted RingCentral's (RNG) leadership position in the unified communications market and cited the company's relationships with providers including Avaya, AT&T (T) and BT. Those partnerships give RingCentral access to about half of unified communications-as-a-service deals, the brokerage added.While uncertainty around RingCentral's longer-term growth profile remains, the company continues to execute on profitability expansion and improving capital returns, Morgan Stanley said. The firm raised its price target on RingCentral to $40 from $33 while maintaining its equal-weight rating.Price: $90.56, Change: $-2.17, Percent Change: -2.34%

$NICE$RNG$T
Research

Research Alert: Telus Results Impacted By Strong Competition Within Wireless Industry

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:TELUS reported challenging Q1 2026 results with revenue declining 0.6% to $4,989M and EPS falling to $0.09 from $0.21, missing consensus estimates of $0.22. Net income plunged 52.2% due to elevated restructuring costs of $315M. TELUS Health emerged as a standout with 11.2% revenue growth to $526M, serving as a critical diversification engine amid competitive pressures in core telecommunications. Management characterized the wireless environment as "highly promotional and irrational" with aggressive pricing tactics threatening premium brand value. The company delivered $431M in LifeWorks synergies, surpassing targets, while pursuing a $7B asset monetization program expected to fund half the fiber build costs. Net debt to EBITDA improved to 3.5x from 3.9x, progressing toward the 2027 target of 3.0x. We expect continued margin pressure from the promotional environment, though TELUS Health's growth and operational efficiency initiatives provide some offset to telecom headwinds.

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US Markets

Charter Communications Misses Quarterly Earnings Estimates as Residential Weakness Weighs

Charter Communications (CHTR) reported first-quarter earnings below Wall Street's estimates as revenue declined annually, driven by weakness in the residential video and Internet segments.Earnings for the quarter rose to $9.17 per share from $8.42 a year earlier. Analysts polled by FactSet expected $9.96. Revenue declined 1% to $13.6 billion, compared with the Street's $13.55 billion view.Charter's shares plunged 20% in Friday trading. The stock is down 7.7% so far this year. Charter operates the Spectrum brand, which offers Internet, mobile, TV and voice products.Residential revenue decreased 2.7% to $10.49 billion as video sales fell 9.2%. Internet revenue slipped 1.3% to $5.85 billion.In the March quarter, total internet customers fell by 120,000, driven by a 117,000 decline in residential subscribers. Last year, the company reported a 59,000 drop in total customers.Mobile line net additions eased to 368,000 from 507,000.Media and connectivity giant Comcast's (CMCSA) first-quarter results topped the Street's estimates Thursday as it benefited from the Milan Cortina Winter Olympics and Super Bowl LX. AT&T (T) reported better-than-expected first-quarter results on Wednesday, while the telecommunications giant reiterated its full-year earnings outlook.Price: $203.20, Change: $-38.59, Percent Change: -15.96%

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Wire

Deutsche Bank Trims Price Target on AT&T to $32 From $33, Keeps Buy Rating

AT&T (T) has an average rating of overweight and mean price target of $30.30, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $26.39, Change: $+0.40, Percent Change: +1.54%

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Sectors

Sector Update: Consumer Stocks Mixed Wednesday Afternoon

Consumer stocks were mixed Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.1% lower.In corporate news, Philip Morris International (PM) shares jumped past 6% after it reported Q1 results above market estimates.AT&T (T) reported better-than-expected Q1 results on Wednesday, while the telecommunications giant reiterated its full-year earnings outlook. AT&T shares were 0.3% lower.Best Buy (BBY) shares fell 4.8% after the firm said Corie Barry will step down as chief executive at the end of Q3, with Jason Bonfig, chief customer, product and fulfillment officer, set to succeed her.

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Wire

Top Midday Stories: GE Vernova Shares Gain on Strong Q1 Earnings, Guidance; Vertiv Lifts Guidance After Q1 EPS, Revenue Beats, Shares Fall

All three major US stock indexes were up in late-morning trading Wednesday following reports of Iranian attacks on vessels in the Strait of Hormuz and President Donald Trump's extension of the ceasefire between the warring nations.In company news, GE Vernova (GEV) reported Q1 earnings Wednesday of $17.44 per share, up from $0.91 a year earlier. Total Q1 revenue was $9.34 billion, up from $8.03 billion a year ago and above the FactSet consensus analyst estimate of $9.25 billion. For 2026, the company said it expects revenue of about $44.5 billion to $45.5 billion, up from its previous outlook of $44 billion to $45 billion and compared to the FactSet consensus of $44.66 billion. GE Vernova shares were up 12.4% around midday.Vertiv (VRT) reported Q1 adjusted earnings Wednesday of $1.17 per diluted share, up from $0.64 a year earlier and above the FactSet consensus of $1.00. First-quarter revenue was $2.65 billion, up from $2.04 billion a year ago and above the FactSet consensus of $2.64 billion. For Q2, the company said it expects adjusted EPS of $1.37 to $1.43 on revenue of $3.25 billion to $3.45 billion. Analysts polled by FactSet expect $1.43 and $3.40 billion, respectively. For full-year 2026, Vertiv said it expects adjusted EPS of $6.30 to $6.40, up from its previous outlook of $5.97 to $6.07 and above the FactSet consensus of $6.12. Vertiv expects full-year revenue to be $13.50 billion to $14.00 billion, up from its previous guidance of $13.25 billion to $13.75 billion and compared to the FactSet consensus of $13.63 billion. Vertiv shares were down 2.6%.Merck (MRK), Germany's Merck KGaA and Japan's Ono Pharmaceutical have expressed interest in Inhibrx Biosciences' (INBX) experimental cancer medicine that could be valued at over $8 billion, Reuters reported Wednesday, citing people familiar with the matter. Merck shares were down 0.2%, while Inhibrx shares were up 31.9%.Boeing (BA) reported a Q1 core loss Wednesday of $0.20 per share, narrowing from a loss of $0.49 a year earlier and compared to the FactSet consensus estimate of a loss of $0.68. First-quarter revenue was $22.22 billion, up from $19.50 billion a year ago and above the FactSet consensus of $21.85 billion. Cash outflow for the quarter was $1.45 billion, narrowing from $2.29 billion a year ago, and the company said Q1 deliveries increased 10% to 143 planes. Boeing shares were up 5.4%.Alphabet's (GOOG, GOOGL) Google Cloud is launching a $750 million fund to help consulting firms like Accenture (ACN), McKinsey and Deloitte get their clients to use agentic AI software, Bloomberg reported Wednesday, citing an emailed statement and an interview with a company official. Alphabet's Class C and Class A shares were up 1.5% and 1.6%, respectively. Accenture shares were down 1.9%.Philip Morris International (PM) reported Q1 adjusted earnings Wednesday of $1.96 per diluted share, up from $1.69 a year earlier and above the FactSet consensus of $1.83. Net Q1 revenue was $10.15 billion, up from $9.30 billion ay ear ago and above the FactSet consensus of $9.91 billion. For Q2, Philip Morris said it expects adjusted EPS of $2.02 to $2.07, below the FactSet consensus of $2.12. For full-year 2026, the company said it expects adjusted EPS of $8.36 to $8.51, compared to the FactSet consensus of $8.38. Philip Morris shares were up 7%.Boston Scientific (BSX) reported Q1 adjusted earnings Wednesday of $0.80 per share, up from $0.75 a year earlier and above the FactSet consensus of $0.79. First-quarter net sales were $5.20 billion, up from $4.66 billion a year ago and above the FactSet consensus of $5.17 billion. For Q2, Boston Scientific said it expects adjusted EPS of $0.82 to $0.84 and net sales growth of 5.5% to 7.5%. Analysts polled by FactSet expect adjusted EPS of $0.86. For full-year 2026, the company said it expects adjusted EPS of $3.34 to $3.41, down from its prior outlook of $3.43 to $3.49 and below the FactSet consensus of $3.45. Full-year net sales are now expected to grow about 7.0% to 8.5%, down from the company's previous guidance of 10.5% to 11.5% growth. Shares of the company were up 8.4%.AT&T (T) reported Q1 earnings Wednesday of $0.54 per diluted share, down from $0.61 a year earlier and below the FactSet consensus of $0.55. First-quarter operating revenue was $31.51 billion, up from $30.63 billion a year ago and above the FactSet consensus of $31.25 billion. AT&T shares were down 1.8%.Price: $1119.35, Change: $+128.05, Percent Change: +12.92%

$ACN$BSX$GEV$INBX$MRK$PM$T$VRT
Research

Research Alert: At&t Reports Stronger-than-expected Earnings, Adds 294k Postpaid Subscribers

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:AT&T delivered strong Q1 2026 results with revenues of $31.5B (+2.9% Y/Y) and adjusted EPS of $0.57 vs $0.51 prior year, beating Wall Street estimates. Advanced Connectivity underpinned growth, with service revenues of $22.9B (+3.6%) and operating income surging 14.8% to $6.9B, while home internet revenue jumped 27.3% to $2.8B. The Lumen acquisition, which closed in February and added 4M+ fiber locations, is accelerating convergence strategy with nearly 45% of fiber subscribers choosing wireless services. Management reaffirmed 2026 guidance, including free cash flow of $18B+ and EBITDA growth of 3%-4%. We believe the convergence strategy represents a key competitive differentiator, with organic convergence rates improving over 3 percentage points Y/Y, supporting higher customer lifetime values through reduced churn. The company remains on track to reach 40M fiber locations by end-2026 and 60M by 2030, positioning AT&T to capitalize on growing demand for bundled connectivity services.

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Asia Markets

US Equity Futures Rise Pre-Bell After Trump Extends US-Iran Ceasefire

US equity futures were rising pre-bell Wednesday after President Donald Trump extended the ceasefire with Iran while maintaining the US blockade of Iranian ports.Dow Jones Industrial Average futures were 0.7% higher, S&P 500 futures were up 0.6%, and Nasdaq futures were 0.9% higher.Trump said that Iran's government is "seriously fractured" and that he is extending the ceasefire "until such time as their leaders and representatives can come up with a unified proposal," according to his post on Truth Social.Amir-Saeid Iravani, Iran's permanent representative to the UN, said that Iran is ready to restart peace talks once the US lifts its naval blockade, Iranian state news outlet Tasnim reported early Wednesday, citing media outlet Rudaw.Traders digested the latest round of earnings, with Philip Morris International (PM) and Vertiv (VRT) reporting higher Q1 adjusted earnings and revenue. GE Vernova (GEV) posted higher Q1 earnings and revenue, while AT&T (T) reported lower Q1 earnings amid higher operating revenue. Tesla (TSLA) and IBM (IBM) are set to report their results after-market.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.5% at $99.93 per barrel and US West Texas Intermediate crude 1.5% higher at $91.01 per barrel.The Atlanta Fed Business Inflation Expectations survey for April is scheduled for release at 10 am ET.In other world markets, Japan's Nikkei closed 0.4% higher, Hong Kong's Hang Seng ended 1.2% lower, and China's Shanghai Composite finished 0.5% higher. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 0.1% lower in Europe's early afternoon session.In equities, shares of Philip Morris and GE Vernova were up 3.3% and 7.%, respectively, after the companies posted their Q1 financial results. Adobe (ADBE) stock was 3% higher after the company said its board approved a new share buyback authorization, allowing the company to repurchase up to $25 billion in shares through April 30, 2030. The digital media software firm also expanded its partnership with Omnicom Group (OMC) to co-develop an enterprise-grade, industry-specialized AI agentic operating model solution, according to Omnicom.On the losing side, Vertiv shares were down 1.1% despite its Q1 adjusted earnings and revenue surpassing analyst expectations. AT&T stock was down 2% after its Q1 earnings release.

Dow JonesNasdaq CompositeS&P 500$ADBE$GEV$IBM$OMC$PM$T$TSLA$VRT
US Markets

AT&T First-Quarter Results Top Street Views; Maintains Full-Year Earnings Outlook

AT&T (T) reported better-than-expected first-quarter results on Wednesday, while the telecommunications giant reiterated its full-year earnings outlook.The company reported adjusted earnings of $0.57 a share for the March quarter, up from $0.51 the year before, topping the FactSet-polled consensus of $0.55. Operating revenue improved 2.9% to $31.51 billion, ahead of the Street's view for $31.25 billion."We saw our best first quarter ever for advanced connectivity internet customer net additions, demonstrating the solid foundation of assets we have built," Chief Executive John Stankey said in a statement. "The actions we've taken this quarter are evidence of how we are improving the customer value proposition, scaling faster, and accelerating growth."AT&T continues to anticipate adjusted EPS to be in a range of $2.25 to $2.35 in 2026. The Street is looking for non-GAAP EPS of $2.30. Service revenue is still pegged to grow in the low-single-digit range for the ongoing year.The stock was down 1.8% in the most recent premarket activity.Revenue in the advanced connectivity segment rose 4.7% to $28.47 billion in the first quarter, driven by gains of 3.6% in services and 9.3% in equipment from higher wireless device sales volumes, according to the company. Wireless service revenue was up 1.7%, buoyed by growth in retail wireless subscribers in underpenetrated categories and converged accounts, the firm said.The legacy business saw a 25% drop in revenue to $1.77 billion, mainly due to lower demand for services. Latin America recorded revenue of $1.17 billion, up from $971 million in the prior-year period.AT&T added 294,000 net postpaid phone subscribers in the quarter, down from 324,000 a year earlier, but above the consensus on FactSet for 267,000. In the previous quarter, the company logged additions of 421,000 subscribers.

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Japan

US Equity Futures Rise Pre-Bell After Trump Extends US-Iran Ceasefire

US equity futures were higher pre-bell Wednesday after President Donald Trump extended the ceasefire with Iran while maintaining the US blockade of Iranian ports.Dow Jones Industrial Average futures were 0.6% higher, S&P 500 futures were up 0.5%, and Nasdaq futures were 0.7% higher.Trump said that Iran's government is "seriously fractured" and that he is extending the ceasefire "until such time as their leaders and representatives can come up with a unified proposal," according to his post on Truth Social.Amir-Saeid Iravani, Iran's permanent representative to the UN, said that Iran is ready to restart peace talks once the US lifts its naval blockade, Iranian state news outlet Tasnim reported early Wednesday, citing media outlet Rudaw.Traders digested the latest round of earnings, with Philip Morris International (PM) and Vertiv (VRT) reporting higher Q1 adjusted earnings and revenue. Meanwhile, AT&T (T) posted lower Q1 earnings amid higher operating revenue. Tesla (TSLA) and IBM (IBM) are set to report their results after-market.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1% at $99.46 per barrel and US West Texas Intermediate crude 0.9% higher at $90.47 per barrel.The Atlanta Fed Business Inflation Expectations survey for April is scheduled for release at 10 am ET.

Dow JonesNasdaq CompositeS&P 500$IBM$PM$T$TSLA$VRT
US Markets

Stocks Rise Pre-Bell as Trump Extends Iran Ceasefire; Tesla Earnings On Deck

The main US stock measures were trending higher in Wednesday's premarket activity after President Donald Trump extended the two-week US ceasefire with Iran, while traders await the latest round of corporate earnings, including results from Tesla (TSLA).The S&P 500 rose 0.6%, the Dow Jones Industrial Average increased 0.5% and the Nasdaq added 0.7% before the opening bell. The indexes finished Tuesday trading lower for the second consecutive session.In a social media post on Tuesday, Trump announced the extension of the two-week US ceasefire deal with Iran, citing a request by Pakistan's Prime Minister Shehbaz Sharif and Field Marshal Asim Munir. The truce was announced on April 7. The naval blockade of Iranian ports will continue, according to Trump."We have been asked to hold our attack on the country of Iran until such time as their leaders and representatives can come up with a unified proposal," Trump said in the post. "I have therefore directed our military to continue the blockade and, in all other respects, remain ready and able, and will therefore extend the ceasefire until such time as their proposal is submitted, and discussions are concluded, one way or the other."Iranian state news outlet Tasnim reported that negotiators from Tehran won't participate in further peace talks with their US counterparts, according to CNBC. US Vice President JD Vance's expected trip to Islamabad for peace talks with Iran has been called off, CNN reported, citing a White House official.West Texas Intermediate crude oil inclined 1.3% to $90.83 a barrel in premarket action, while Brent rose 1.1% to $99.56.The Trump administration is evaluating a potential extension of a maritime shipping waiver to make it easier to move oil and gasoline between US ports, Bloomberg News reported Wednesday, citing people familiar with the matter.Electric vehicle giant Tesla is scheduled to release its latest quarterly results after the markets close, along with International Business Machines (IBM) and Texas Instruments (TXN). GE Vernova (GEV), Philip Morris International (PM), AT&T (T), Boeing (BA), Boston Scientific (BSX) and Elevance Health (ELV) post earnings before the bell, among others.Intuitive Surgical (ISRG) shares advanced 2% pre-bell as the company lifted the full-year procedure growth outlook of its da Vinci robotic surgery system and reported better-than-expected first-quarter results. Advanced Micro Devices (AMD) gained 2%.Kevin Warsh said Tuesday that the Federal Reserve, under his leadership, would be independent from the White House, CNBC reported. Warsh, who is Trump's Fed chair nominee, made the remarks at his Senate Banking Committee confirmation hearing.Treasury yields were moving down before the open, with the two-year rate retreating 0.8 basis points to 3.77% and the 10-year rate off 1 basis point to 4.28%.Official data on Tuesday showed that retail sales last month logged the largest rise since March 2025 amid a surge in spending at gasoline stations as the Middle East conflict boosted energy prices.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the weekly EIA domestic petroleum inventories report at 10:30 am.Gold rose 1.1% to $4,769 per troy ounce, while bitcoin climbed 3.9% to $78,172.

Dow JonesNasdaq CompositeS&P 500$AMD$BA$BSX$ELV$GEV$IBM$ISRG$PM$T$TSLA$TXN
Wire

Twilio Likely to Beat Q1 Estimates on 'Steady' Sales Execution, AI Demand, Oppenheimer Says

Twilio (TWLO) is expected to report "solid" Q1 results, with revenue and earnings likely exceeding consensus estimates by 3% to 4% driven by "steady" sales execution and strong demand for artificial intelligence-powered products, Oppenheimer said in a note Monday.Checks indicate stable or improving net expansion rate of about 109%, strong engagement with independent software vendors, and continued momentum in voice AI, which grew more than 60% year over year in Q4, the brokerage said.Rising application-to-person messaging fees from carriers, including T-Mobile US (TMUS) and AT&T (T), are expected to have "no material disruption," with the company managing its gross profit dollars while potentially offsetting margin pressure, according to the note.Twilio's full-year 2026 revenue growth guidance of 11.5% to 12.5% is "conservative," with opportunities from cross-selling, multi-product adoption and expanding AI offerings, the brokerage said.Oppenheimer maintained an outperform rating on Twilio with a price target of $170.Price: $142.24, Change: $+2.13, Percent Change: +1.52%

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