SCOTUS Upholds FCC's Power to Fine AT&T $57M; Oppenheimer Cuts Rating on Starlink Competition
T is trading near its 52-week low of $22.33 (2.1% above the low).
Summary
The Supreme Court has allowed the FCC to proceed with a proposed $57 million fine against AT&T for alleged location data sales, overturning AT&T's previous Fifth Circuit defense. This ruling is a legal setback for the company, removing a key defense against the fine. Separately, Oppenheimer downgraded AT&T to Perform, citing increased competition from satellite providers like Starlink impacting its broadband subscriber base. While the fine amount is modest for a company of AT&T's size, the Supreme Court's decision is a notable legal development.
At the time of this announcement, T was trading at $22.79 on NYSE in the Technology sector, with a market capitalization of approximately $158.1B. The 52-week trading range was $22.33 to $29.79. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Wiseek News.