AT&T Shares Are On The Rise: What's Going On

Shares of AT&T Inc. T are trading higher today. Here’s what you need to know.

What To Know: The company announced a webcast featuring CEO John Stankey at the Goldman Sachs Communacopia + Technology Conference scheduled for September 10. This event is expected to provide insights into AT&T's strategic direction and operational updates. Additionally, AT&T’s recent multi-year partnership with Nokia Oyj Inc. NOK to enhance its fiber network infrastructure is drawing attention from investors and analysts.

What Else:

• Fiber Network Upgrade Partnership: AT&T has signed a five-year deal with Nokia to upgrade its current fiber infrastructure and deploy next-generation fiber access technology. This partnership will utilize Nokia's Lightspan MF and Altiplano platforms to enhance AT&T's extensive fiber network, which already reaches 27.8 million locations as of the second quarter of 2024. The collaboration aims to support next-gen PON (Passive Optical Network) technologies, allowing for faster and more efficient data transmission, as well as improved network automation capabilities through the Altiplano Access Controller. This move aligns with AT&T's strategy to strengthen its fiber offerings and expand its broadband reach, ensuring it remains competitive in the high-speed internet market.
• Additional Developments: Beyond the Nokia partnership, the announcement follows news of Nokia losing a significant contract with AT&T to Ericsson Inc. ERIC, which was chosen to build a telecom network covering 70% of AT&T's U.S. wireless traffic by 2026. Despite this setback, Nokia’s new deal with AT&T reflects its ongoing efforts to remain a key player in the telecom infrastructure space.

Price Action: As of the latest trading session, AT&T shares have risen by 2.44% to $20.39, according to Benzinga Pro.

See Also:

• US Manufacturing Activity Extends Contraction For Fifth Month: ‘Demand Continues To Be Weak’

Image Via Shutterstock.