AT&T Inc
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Communication Services : Diversified Telecommunication Services | Large Cap Value
Company profile

AT&T Inc. is a holding company. The Company is a provider of telecommunications, media and technology services globally. The Company operates through four segments: Communication segment, WarnerMedia segment, Latin America segment and Xandr segment. The Communications segment provides wireless and wireline telecom, video and broadband services to consumers.The business units of the Communication segment includes Mobility, Entertainment Group and Business Wireline. The WarnerMedia segment develops, produces and distributes feature films, television, gaming and other content over various physical and digital formats. The business units of the WarnerMedia segment includes Turner, Home Box Office and Warner Bros. Latin America segment provides entertainment services in Latin America and wireless services in Mexico. Viro and Mexico are the business units of the Latin America segment. The Xandr segment provides advertising services.

Price
Delayed
$27.90
Day's Change
0.025 (0.09%)
Bid
--
Ask
--
B/A Size
--
Day's High
28.03
Day's Low
27.75
Volume
(Average)

Today's volume of 12,013,684 shares is on pace to be in-line with T's 10-day average volume of 35,752,087 shares.

12,013,684

UPDATE: Chase Sapphire reward points can now be redeemed for groceries and takeout. 'These are strange, strange times'

9:48 am ET May 29, 2020 (MarketWatch)
Print

By Jacob Passy

'No one signs up for a high-end travel credit card wanting to use those points for groceries'

Chase Sapphire cardholders (JPM) will be able to use their rewards points to cover purchases like groceries and takeout food thanks to a temporary new feature.

Called "Pay Yourself Back" the new system will allow cardholders to use their rewards points to cover a portion or all of existing purchases at grocery stores, home improvement stores and dining, including restaurants, takeout and eligible delivery services.

The new points program will go into effect May 31 for the Chase Sapphire Preferred and Reserve cards, and the bank plans to extend the feature to other cards in the future. The new system is currently set be available through September 30. "We will be looking to evolve to keep the categories fresh and over time introduce other eligible Chase cards to the feature," a spokeswoman for Chase told MarketWatch.

Also see:Walt Disney World proposes July 11 for phased reopening, later than other Florida theme parks (http://www.marketwatch.com/story/walt-disney-world-targets-july-11-for-phased-reopening-of-theme-parks-later-than-other-theme-parks-2020-05-27)

To redeem points through this service, Chase cardholders will log into their rewards account and select from eligible transactions within the last 90 days.

Cardholders will get more value when they redeem points this way versus getting cash back. When converting points to cash back, one point is worth 1 cent. Through Pay Yourself Back, points will be worth 25% more for Sapphire Preferred card holders and 50% more for Sapphire Reserve card holders, Chase said.

Historically, Chase has focused its Sapphire rewards on travel purchases, but like other card issuers, the company has had to shift gears because of the coronavirus pandemic.

"No one signs up for a high-end travel credit card wanting to use those points for groceries, but these are strange, strange times, so a lot of the old conventional wisdom doesn't apply right now," said Matt Schulz, chief credit analyst at LendingTree (TREE).

But consumers who hold multiple rewards-earning credit cards might see the value of those cards decrease, because many other companies have shifted toward purchases at grocery and home improvement stores.

"There's a lot of overlap," said Ted Rossman, industry analyst at CreditCards.com. "If you used to have three different travel cards -- maybe a transferable points card like the Sapphire Reserve or Sapphire Preferred, plus an airline card and a hotel card -- now you essentially have three grocery cards."

Don't miss: Half of all Americans are canceling their summer vacations -- what to expect in refunds from cruise lines, hotels and airlines (http://www.marketwatch.com/story/half-of-all-americans-are-canceling-their-summer-vacations-what-to-expect-in-refunds-from-cruise-lines-hotels-and-airlines-2020-04-30)

Many credit card companies have extended the time to earn sign-up bonuses. Other credit cards have also adjusted their perks to better suit what consumers are spending money on during the coronavirus outbreak.

Citi Prestige card holders , for instance, can use the card's annual $250 travel credit on purchases at supermarkets and restaurants. Capital One (COF) is now allowing card holders to redeem airline miles for food delivery, takeout, streaming and other services. American Express (AXP), meanwhile, has begun offering credits for streaming and wireless services.

"All of these changes indicate that card issuers don't expect things to get better very soon," Schulz said. "Most of these changes probably aren't permanent, especially the ones made to high-end travel cards, but they're significant enough that they're not going to be gone in a month either."

Consumers in this position may want to re-evaulate which cards they have in their wallets, especially if they have multiple cards that charge annual fees.

-Jacob Passy; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

May 29, 2020 09:48 ET (13:48 GMT)

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