Corning And AT&T Sign $1 Billion+ Deal To Supercharge Fiber Network
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 28 2024
0mins
Source: Benzinga
Corning and AT&T Partnership: Corning Incorporated has signed a multi-year agreement valued over $1 billion with AT&T to supply advanced fiber and connectivity solutions, enhancing AT&T's fiber network expansion for high-speed internet access across the U.S.
Market Reaction: Following the announcement, Corning's shares (GLW) rose by 2.25% in premarket trading, reflecting positive investor sentiment regarding the partnership and Corning's strategic plans for growth.
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Analyst Views on T
Wall Street analysts forecast T stock price to rise
15 Analyst Rating
8 Buy
5 Hold
2 Sell
Moderate Buy
Current: 23.160
Low
20.00
Averages
28.27
High
33.00
Current: 23.160
Low
20.00
Averages
28.27
High
33.00
About T
AT&T Inc. is a holding company. The Company is a provider of telecommunications and technology services globally. The Company’s segments include Communications and Latin America. The Communications segment provides wireless and wireline telecom and broadband services to consumers located in the United States and businesses globally. The business units of the Communication segment include Mobility, Business Wireline, and Consumer Wireline. Mobility provides nationwide wireless service and equipment. Business Wireline provides advanced Ethernet-based fiber services, Internet Protocol (IP) Voice and managed professional services, as well as legacy voice and data services and related equipment, to business customers. Consumer Wireline provides broadband services, including fiber connections. Consumer Wireline provides legacy telephony voice communication services. The Latin America segment provides wireless services and equipment in Mexico.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Successor Named: Jennifer Biry has been appointed as Desroches' successor, and she is expected to take over this critical role in 2026, bringing a new leadership style and strategic direction to the company's financial management.
- Transition Period: During the transition period before Desroches' departure, Biry will have the opportunity to work closely with the current CFO to ensure a smooth handover of financial management, thereby minimizing potential disruptions to the company's operations.
- Market Reaction Anticipation: This personnel change may prompt market scrutiny regarding AT&T's financial health, especially given the competitive pressures and industry challenges the company faces, with investors likely to closely monitor the new CFO's strategic plans.
See More
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- Succession Plan: Former McAfee CFO Jennifer Biry will officially take over on January 1, 2027, and will serve as Deputy CFO starting July 6, ensuring continuity in financial management during the transition.
- Market Reaction: Following the announcement of Desroches' resignation, AT&T shares fell nearly 3% in after-hours trading, reflecting market unease regarding the executive change and its potential short-term impact on stock performance.
- Financial Stability: Having served as CFO since April 2021, Desroches' departure may prompt a reassessment of the company's financial strategy, while Biry's appointment is viewed as a crucial move to restore market confidence.
See More
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