Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

AT&T Gives Bonus To Employees Amid Coronavirus Pandemic

By Zacks Investment ResearchStock MarketsMar 25, 2020 09:49PM ET
www.investing.com/analysis/att-gives-bonus-to-employees-amid-coronavirus-pandemic-200519275
AT&T Gives Bonus To Employees Amid Coronavirus Pandemic
By Zacks Investment Research   |  Mar 25, 2020 09:49PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Per media reports, AT&T Inc. (NYSE:T) has decided to pay a 20% bonus above the regular hourly base rate to all of its union employees, as its networks are seeing increased demand amid the ongoing coronavirus (COVID-19) pandemic. The company’s share price rose 1.1% in yesterday’s trading session to close at $28.40.

The Dallas, TX-based wireless carrier said that the bonus will be included in employee regular rate-of-pay for calculating overtime rates. This includes both homebound workers and those still in offices or the field. AT&T is part of a growing list of large U.S. employers that are boosting pay in response to increased demand for certain kinds of workers even as many industries shut down.

AT&T pointed to the doctors, healthcare providers and FirstNet first responders all depending on its employees to stay connected. It appreciates all the employees’ efforts, particularly front-line employees who are working hard serving customers during this challenging time. The company was granted authority for 60 days to operate in Advanced Wireless Services (AWS)-4 Band spectrum licensed to DISH.

The company is offering free data plans for certain school-issued tablets for 60 days. It has waived wireless voice and data overage fees for all customers and expanded eligibility for its low-income Internet program while offering new program participants free service for two months. It has also created a $10 million fund to support distance learning.

In the meantime, AT&T withdrew its plans to purchase $4 billion in stock buybacks to remain flexible during the coronavirus outbreak. The company previously announced that it had entered into an accelerated share repurchase agreement with Morgan Stanley (NYSE:MS) to repurchase $4 billion of stock during the second quarter. However, the contagious disease and its grave impact on the economy have forced the company to reconsider the buyback plan.

AT&T added that it is unable to estimate the impact on its financial or operational results. Among the factors that could impact its results are the effectiveness of COVID-19 mitigation measures, global economic conditions, consumer spending, work from home trends and supply chain sustainability. These factors could result in increased or decreased demand for the company’s products and services and impact its ability to serve customers. That said, it continues to care for employees and enhance network, including nationwide 5G. The investments will help ensure that the company is well positioned when the pandemic passes and economies begin to recover.

On Mar 16, AT&T announced that it has introduced a 5G network to 20 more markets. With this, the company is now offering access to 5G on its unlimited wireless plans for consumers and businesses in a total of 100 markets across the United States. 5G+ is currently available in parts of 35 cities for customers with compatible plans and devices. The company is scheduled to report first-quarter 2020 results on Apr 22, before the opening bell.

AT&T’s shares have lost 24.1% compared with 16.6% decline recorded by the industry in the past six months.



AT&T currently has a Zacks Rank #3 (Hold).

A few better-ranked stocks in the broader industry are Motorola Solutions, Inc. (NYSE:MSI) , Qualcomm Incorporated (NASDAQ:QCOM) and Ubiquiti Inc. (NASDAQ:UI) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Motorola topped earnings estimates in the trailing four quarters, the surprise being 6.6%, on average.

Qualcomm surpassed earnings estimates in the trailing four quarters, the beat being 10%, on average.

Ubiquiti topped earnings estimates twice in the trailing four quarters, the positive surprise being 5.7%, on average.

Just Released: Zacks’ 7 Best Stocks for Today

Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.5% per year.

These 7 were selected because of their superior potential for immediate breakout.

See these time-sensitive tickers now >>



AT&T Inc. (T): Free Stock Analysis Report

QUALCOMM Incorporated (QCOM): Free Stock Analysis Report

Motorola Solutions, Inc. (MSI): Free Stock Analysis Report

Ubiquiti Inc. (UI): Free Stock Analysis Report

Original post
AT&T Gives Bonus To Employees Amid Coronavirus Pandemic
 

Related Articles

AT&T Gives Bonus To Employees Amid Coronavirus Pandemic

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email