Shares of AT&T (NYSE:T) have dropped today, down by 6% as of 11:30 a.m. EDT, after the company said it would cancel a previously announced stock buyback plan due to uncertainties around the COVID-19 pandemic. The telecommunications and media giant also said it wasn't sure just how bad the outbreak's financial impacts would be, funny that just 2 weeks ago superstar
John Stankey says AT&T is prepared for market swings, coronavirus and HBO Max launch
PUBLISHED TUE, MAR 3 2020 7:19 PM EST
UPDATED TUE, MAR 3 2020 7:26 PM EST
7 replies (most recent on top)
Looks like the virus unfortunately was someone's good fortune and deflection
A smart CEO adjusting to changing business environment. Stop hating for a moment and see what is really happening.
Randy did not want to be in Trump’s crosshairs again. Trump stated yesterday he did not like companies doing stock buy backs.
Probably cancelling stock buybacks to try and get some tax relief again. Folks are vocal about not helping any corporation who used tax break $ for this the last go round.
T' insolvency? AT&T did not mention any changes to its dividend payout???The company may also be seeking $3 billion in loans to help weather the CASH crisis
Randall Stephenson blaming the virus, But Why? why is he blaming the virus? We all know that the downturn was coming, so why is he saying this?
" Due to the evolving nature of this situation, we are not able at this time to estimate the impact on our financial or operational results",
Randy and stank will weather through it like they did Tmo and dtv sadly