At&T Stock Price, News & Analysis

AT&T Inc. (NYSE: T) has announced its tender offers to purchase up to $5 billion in higher coupon notes and $3 billion in discount notes. This includes 54 series of higher coupon notes and 9 series of discount notes. The offers are subject to terms outlined in the Offers to Purchase dated May 16, 2022. Interested holders must tender their notes by 5:00 p.m. NYC time on May 20, 2022, to receive cash payment on the expected settlement date of May 26, 2022. The offers aim to optimize AT&T's capital structure.

AT&T Inc. (NYSE:T) conducted its annual stockholders' meeting, where all 10 board nominees were reelected with over 90.5% approval. Stockholders approved Ernst & Young LLP as independent auditor with 95.1% votes. Additionally, executive compensation was endorsed by 90.4% of votes. However, four shareholder proposals, including changes to the executive compensation program and an independent board chair, were rejected, with opposition ranging from 55.9% to 96.0%. Final voting results will be filed with the SEC and available on AT&T's Investor Relations website.

AT&T, Microsoft, and Welbilt are collaborating to transform restaurant operations by digitizing kitchen management. Their joint effort focuses on leveraging AT&T's IoT networks and Microsoft's Azure Sphere technology to improve efficiency, reduce costs, and enhance food quality in commercial kitchens. The KitchenConnect platform allows restaurant owners to monitor equipment, ensure food safety, and save significantly on maintenance and operational costs. This initiative is aimed at driving digital transformation within the foodservice industry, particularly amidst ongoing labor challenges and rising costs.

AT&T will host a webcast of a keynote address by CEO John Stankey at the J.P. Morgan Global Technology, Media & Communications Conference on May 23, 2022. The event begins at 8:00 a.m. ET in Boston. Interested viewers can access the live stream and replay through AT&T Investor Relations. This conference aims to showcase AT&T's ongoing innovations in communications and technology. The company connects over 100 million people in the U.S., enhancing lives through advanced 5G wireless and internet services.

AT&T announced cash tender offers for up to $5 billion of its outstanding notes under the "Higher Coupon Offers" and $3 billion under the "Discount Offers." The offers aim to purchase various series of notes, with specific conditions and dates outlined in the Offers to Purchase. The acceptance priority levels for the notes are detailed, and the offers will expire on May 20, 2022. Holders may withdraw their tendered notes until this date. Settlement for accepted notes is expected by May 26, 2022. The total consideration will include accrued coupon payments.

Boonville, Indiana has announced a $4.4 million project with AT&T to deploy a fiber network servicing over 4,000 locations. This initiative aims to enhance connectivity, providing speeds of up to 5 Gbps. The project, which is expected to be completed in 18 months, is contingent on funding approval from the city and a final contract with AT&T. Mayor Charlie Wyatt emphasized the importance of reliable internet access for residents. AT&T's extensive experience in Indiana positions it well to improve digital accessibility.

AT&T has launched the first nationwide location-based routing for 9-1-1 calls, enhancing emergency response efficiency. This system accurately determines a caller's location using GPS, reducing error margins to 50 meters, a significant improvement over the previous 10-mile radius method. The rollout is active in multiple states, with full implementation expected by June. Approximately 80% of 9-1-1 calls are now made from mobile devices. This initiative aims to provide faster, more reliable emergency services, showcasing AT&T's commitment to public safety and innovative communication solutions.

AT&T is supporting small businesses during National Small Business Week (May 1-7, 2022) with new offers including free credit card processing on up to $10K in sales from Square for customers of AT&T Business Fiber or Wireless Broadband. The initiative includes a sweepstakes with a grand prize of $10,000. Additionally, AT&T continues its Smart Advice for Small Business webinar series, featuring entrepreneur Barbara Corcoran. This effort aims to enhance the success of over 2 million small business customers.

Los Angeles Unified School District and AT&T are providing free high-speed broadband to students' homes through the FCC's Emergency Connectivity Fund until June 2023. This initiative, part of Superintendent Alberto M. Carvalho's 100-Day Plan, addresses the Homework Gap faced by 19% of households in Los Angeles County lacking reliable internet. Families with enrolled students can sign up for AT&T FIBER services with speeds up to 1 GIG. The program aims to enhance educational access and digital literacy, ensuring students have essential tools for academic success.