Telecommunications giant AT&T will cut 12,000 jobs to reduce expenses amid slowing business conditions, due to the U.S. recession, the company announced Thursday.
The cuts amount to a 4% workforce reduction, and the company also said it will take a company-record $600 million charge in Q4 for severance expenses.
Shares of AT&T (NYSE: T) Wednesday closed up $1.04 to $29.08.
AT&T added that it also plans to cut spending in 2009, and will announce details of those cuts in January 2009, when it releases Q4 earnings results.
The telecom business is definitely not recession-proof, as those that have followed the industry have recently realized, but it is not a field that is going to fade into the horizon any time soon either. Simply put, people need to communicate and the telecom business is poised to continue rolling with the new technology and bringing people what they need. If you see the value of telecom companies and agree that their future is, perhaps not golden, but definitely strong, then an investment in an Exchange Traded Fund (ETF) is an excellent way to invest in t...
As investors search for defensive stock investments and high dividend yields during the current bear market turmoil, they need look no further than telecom services companies. In contrast to many of the existing telecom ETFs (the four listed below are all down by about 40% on average in the last year) which have large positions in Verizon (VZ) and AT&T (T), the ETF Innovators [ETFI] Global Telco Dividend Income Index is structured as an equally-weighted, all-world index among the top 35 rated compani
Although not completely immune from the current global economic slowdown, many telecom services companies are currently yielding higher amounts than tobacco companies and the Utilities Select Sector SPDR (XLU). Although many of the foreign telecom companies included in the ETFI Global Telco Services Dividend Income Index issued special one-time dividends over the past year which inflates their trailing 12-month yield; both Verizon (VZ) and AT&T (T) are currently yielding over 6% each while trading at multi-year lows.
The accompanying table presents a 20-stock defensive growth portfolio which I believe will outperform the overall market as measured by the S&P 500 Index as the current panic trade comes to an end and investors stop selling stocks regardless of their fundamentals. The average PEG ratio for this group of stocks is below one and the average dividend yield of 4.4% is nearly two times the S&P 500 ETF (SPY) yield of 2.4%. All of the stocks have a market cap over $1B with an average of just under $75B and the indust
Some of the most dominant women I have known were slow starters. While most have bounce back none are like ma bell.
Keeping with a game plan, today I'm going with a company that has withstood the test of time, even if it is a little beaten down at the moment. Now it's time to grab some more shares.Don't underestimate this girl she will show you a good time. If you want to pile it on, grab some more shares and you will be glad you did. The dividend sho
In an exciting bit of news for early adopters north of the border, the new BlackBerry Bold smartphone from Research In Motion Limited (NASDAQ: RIMM) is slated to hit Canadian shelves this Thursday, August 21. Because RIMM has signed service pacts with various wireless carriers in different regions, the Bold is being rolled out gradually around the globe. The snappy new device has already launched in Germany, but U.S. carrier AT&T (NYSE: T) is so far keeping mum abo
In this Part 2, George Putnam continues his look at stocks with single letter symbols, noting, "Odd as this idea may at first seem, it actually makes some sense for a deep value investor."
In The Turnaround Letter he explains, "These are often old-line companies with well-known brand names. In some cases the single letter symbols were awarded many decades ago." Here's 4 more "singular" ideas.
"NetSuite (NYSE: N) is the youngest of the single letter stocks. The provider of on-demand business management software went public in late 2007. (The N symbol formerly belonged to Inco, a nickel produc
What the hey. Fresh off a 52 week low. Profits up. The partnership with iphones does seem to be creating too much static with subscribers...With a healthy dividend, why not?
The U.S. stock market's choppy, volatile pattern continues. Technically, the Dow's rally from the February 2008 and March 2008 market lows around 11,800 to the 13,100-range is displaying signs that it may have been a false rally: the rally failed at the 200-day moving average and closed Thursday, for the second straight day, below the 50-day moving average.
Further, the fundamental story does not look good, either: $130 per barrel oil, a housing market showing no signs of recovery and the specter of scant job c...
Syniverse Holdings (NYSE: SVR) provides a variety of technology services to wireless telecommunications companies. Those services enable phone number portability; fraud management; the invoicing and settlement of wireless roaming calls; and the routing and translation of services between carriers. The company also offers data clearing and financial clearing services. Customers include AT&T (NYSE: T), Sprint Nextel (NYSE: S) and V
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Telecommunications giant AT&T will cut 12,000 jobs to reduce expenses amid slowing business conditions, due to the U.S. recession, 
In an exciting bit of news for early adopters north of the border, the new BlackBerry Bold smartphone from 
In this Part 2, 
