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Why AT&T Stock Was Moving Higher Today

TheMotleyFool

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Why AT&T Stock Was Moving Higher TodayPhoto, wide shot, wide-angle lens, soft focus, Pharmaceutical company, sunset photo at golden hour, photo by Peter Lik: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-TIgKJfhK8q44RPNTTsL9npu7.png?st=2023-05-08T05%3A58%3A04Z&se=2023-05-08T07%3A58%3A04Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-08T02%3A36%3A56Z&ske=2023-05-09T02%3A36%3A56Z&sks=b&skv=2021-08-06&sig=BDDjRcmCPf%2BH//HSxRGZYByMqOKev8lx0/Dhvka/lXk%3D

Shares of AT (NYSE: T) were gaining today, even though there was no major news out on the stock. Instead, shares were rising along with rival Verizon (NYSE: VZ), which delivered strong earnings results this morning. AT is due to report its fourth-quarter earnings report tomorrow.

While the two companies are close competitors, they're also subject to the same industry and consumer trends, so the stocks tend to move together. As of 12:26 p.m. ET, Verizon stock was up 5.5%, while AT gained 2.3%.

Image source: Getty Images.

Source Fool.com