AT&T Inc., the largest U.S. phone company, had its biggest one-day drop in four years as first- quarter revenue missed analysts’ estimates, dragged down by sluggish landline sales and competition with Verizon Wireless.
CenturyLink Inc. tumbled the most in more than three decades, wiping out about $6 billion in market value, after the phone and Internet carrier slashed its dividend by 26 percent and analysts downgraded the stock.
AT&T Inc. may activate 4.5 million Apple Inc. iPhones this quarter, 41 percent more than last quarter, helping increase customer additions at the largest U.S. phone company, a Hudson Square Research analyst said.
DirecTV, the largest U.S. satellite-television provider, reached an intraday record in New York trading after Hudson Square Research advised buying the shares to take advantage of growth in Latin America.
CenturyTel Inc., the Louisiana phone company that’s expanding across the U.S., plans to buy Qwest Communications International Inc. for about $10 billion, more than doubling its customers in its largest purchase yet.