GNG News Guy
01-08-2008, 06:50 PM
http://i.dslr.net/urls/29/4729.gif (http://www.dslreports.com/shownews/Ma-Bell-Pinched-By-Souring-Economy-90804)
AT&T CEO Randall Stephenson today stated the company is seeing a slowdown in the consumer landline and broadband business. To blame? Service disconnections from customers not paying their landline and broadband bills. Stephenson's comment not only sent AT&T stock sliding 10% at one point today, it led a larger market drop (http://www.bloomberg.com/apps/news?pid=20601103&sid=anta9pmuuPs8&refer=us).
Sanford C. Bernstein analyst Craig Moffett, who can usually be found pushing cable stocks (http://news.google.com/news?hl=en&client=firefox-a&rls=org.mozilla:en-US:official&hs=r11&q=Craig+Moffett&um=1&ie=UTF-8&sa=N&tab=wn) on any given afternoon, tells Reuters (http://www.reuters.com/article/pressReleasesMolt/idUSN0851835920080108) it's the first time the baby bells have admitted that an economic slowdown is impacting their bottom lines. Cable & satellite providers have been stating that credit troubles and a housing slowdown have resulted in fewer customers for a few months (http://thegng.org/shownews/88790).
Merril Lynch today stated (http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/01/07/bcnuseco107.xml) that the U.S. has officially entered its first full blown recession in sixteen years, something that should be reflected in fourth quarter earnings reports for most of this industry's major players over the next few weeks.
read comment(s) (http://www.dslreports.com/shownews/Ma-Bell-Pinched-By-Souring-Economy-90804)
AT&T CEO Randall Stephenson today stated the company is seeing a slowdown in the consumer landline and broadband business. To blame? Service disconnections from customers not paying their landline and broadband bills. Stephenson's comment not only sent AT&T stock sliding 10% at one point today, it led a larger market drop (http://www.bloomberg.com/apps/news?pid=20601103&sid=anta9pmuuPs8&refer=us).
Sanford C. Bernstein analyst Craig Moffett, who can usually be found pushing cable stocks (http://news.google.com/news?hl=en&client=firefox-a&rls=org.mozilla:en-US:official&hs=r11&q=Craig+Moffett&um=1&ie=UTF-8&sa=N&tab=wn) on any given afternoon, tells Reuters (http://www.reuters.com/article/pressReleasesMolt/idUSN0851835920080108) it's the first time the baby bells have admitted that an economic slowdown is impacting their bottom lines. Cable & satellite providers have been stating that credit troubles and a housing slowdown have resulted in fewer customers for a few months (http://thegng.org/shownews/88790).
Merril Lynch today stated (http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/01/07/bcnuseco107.xml) that the U.S. has officially entered its first full blown recession in sixteen years, something that should be reflected in fourth quarter earnings reports for most of this industry's major players over the next few weeks.
read comment(s) (http://www.dslreports.com/shownews/Ma-Bell-Pinched-By-Souring-Economy-90804)