AT&T (T) commented today that its consumer business was being hurt by a slow economy. Shares of AT&T and Verizon (VZ) have both done well this year due to strong cellular business and the perception that their new broadband efforts were taking business from cable companies.
With Ma Bell down over 7% to under $38, Wall St. does not seem to feel so upbeat any more.
Douglas A. McIntyre
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