AT&T, Inc. (T) is a major competitor in the telecommunications sector or telecom services industry. As of December 2009, the company had over 267,700 employees and $124.1 Billion in sales. Stock prices have generally been positively impacted by its reputation for low risk governance. AT&T operates in four segments: Wireless, Wireline, Advertising Solutions and Other.
In January of 2010, AT&T announced that due to changes in accounting methods for its pension costs it would take a $2.7 billion noncash charge in the fourth quarter. It also lowered retained earnings for 2008 and 2009 as a result of cutting the expected return on pension plan assets by a total of $17 billion. The company was previously known as SBC Communications Inc. and changed its name in November 2005 when merging with AT&T Corp. The company was established in 1983 and is based in Dallas, Texas.
AT&T stock price is today one of the most widely held stocks in America and also historically, symbolized by the single letter “T” ticker symbol. The company was originally listed on the Boston Stock Exchange as American Bell in 1888. Two years later, it was listed as American Telephone & Telegraph. In 1930 the ticker symbol was changed from ATT to T. In 1984 Southwestern Bell Corporation began trading as SBC and in 2002, the newly merged companies were listed as AT&T Corp. In 2005 the name was changed to AT&T, Inc.
AT&T, Inc. provides local telephone services in 22 states, providing service to approximately 48 million local phone lines and 16 million high-speed Internet customers. AT&T, Inc. is the current 100% owner of AT&T Mobility, which is the second-largest U.S. wireless carrier with 90 million subscribers. The wireless segment offers mobile wireless voice communications services, long distance and roaming services through postpaid and prepaid plans. The company also provides data services, such as Web hosting businesses and large corporations and owns a directory publishing business.
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