Why AT&T Topped the Market Today
AT&T (NYSE: T) stock was hardly a success story on Tuesday, but the monster telecom did better than many publicly traded businesses on that dark day. The company's shares fell a comparatively modest 3%, against the more than 4% slide of the S&P 500 index. Investors, it seemed, found some comfort in the latest official update from the company's leader.
In an address at the Goldman Sachs (NYSE: GS) Communicopia + Technology Conference, AT&T CEO John Stankey supplied an update for the company's investors.
While these facts were certain to have been carefully massaged to keep shareholders happy, they nevertheless provided fuel for optimism. Regarding one item of concern, costs, Stankey said that the telecom remains committed to saving more than $4 billion by the end of this year. This will be helped by the continued exit from parts of its legacy business, such as the move from a copper-wire network to fiber technology.
Source Fool.com
