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 three segments: Communication segment, WarnerMedia segment, and Latin America 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. WarnerMedia segment also includes Xandr, which provides advertising services. Latin America segment provides wireless services in Mexico. Mexico is the business unit of the Latin America segment. Its Xandr segment provides advertising services.

Postmarket

Last Trade
Delayed
$27.05
0.04 (0.15%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$27.01
Day's Change
0.05 (0.19%)
Bid
--
Ask
--
B/A Size
--
Day's High
27.21
Day's Low
26.99
Volume
(Below Average)
Volume:
31,683,117

10-day average volume:
36,474,299
31,683,117

SmileDirectClub downgraded by JP Morgan after disappointing Q2 earnings; shares heading toward 16-month low

8:01 am ET August 10, 2021 (MarketWatch)
Print

JP Morgan downgraded teledentistry company SmileDirectClub Inc. (SDC) to underweight from neutral on Tuesday, after the company posted a wider-than-expected second-quarter loss and sales that fell short of estimates, (http://www.marketwatch.com/story/smiledirectclub-stock-drops-after-cyberattack-pandemic-ding-results-11628540744)weighed down by an April cyberattack and the impact of the pandemic. The stock was down 15% premarket and was headed toward a 16-month low. "The quarter was obviously disappointing, especially given that management guided for 2Q almost halfway through," analysts led by Robbie Marcus wrote in a note to clients. "While we can debate extensively how impactful the macroeconomics were to SDC specifically, they are seeing significant headwinds to the business as well as higher customer acquisition costs." Given how much has to go right for the company to reach the middle to upper end of its guidance range for 2021 revenue of $750 million to $800 million -- or a 14% to 22% increase -- JP Morgan expects a number closer to the bottom end should be the midpoint of that range. Analysts are expecting growth to come in closer to 5% in the third quarter ad 12% in the fourth quarter, a growth rate only seen in the third quarte of last year off of depressed pandemic lows. "Given the impaired near-term revenue trajectory, and what could be structurally higher costs, we see better opportunities in our coverage universe and are downgrading to Underweight," said the note. The analysts lowered their stock price target to $5 from $10. Shares have fallen 44% in the year to date, while the S&P 500 has gained 18%.

-Ciara Linnane

	

(END) Dow Jones Newswires

August 10, 2021 08:01 ET (12:01 GMT)

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