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AT&T shares surge after Elliott Management takeover

September 10, 2019


SHYING AWAY FROM. CHARLES: MICHAEL, THE BIG NEWS TODAY, SPEAKING OF VALUE, ELLIOT MANAGEMENT SEES VALUE IN AT&T. THAT STOCK, THEY BOUGHT A BIG CHUNK OF IT, THEY DISCLOSED IT THIS MORNING $3.2 BILLION STAKE. IT IS UP 3.2%. THEY HAVE A LOT OF ARGUMENTS. I READ THEIR LETTER, IT’S A LONG LETTER WHY THIS COMPANY IS MISMANAGED. AS INDIVIDUAL INVESTORS ELLIOT MANAGEMENT, MANAGES BILLIONS OF DOLLARS THEY MUST KNOW WHAT THEY ARE DOING. IS THIS KIND OF INVESTMENT MAYBE FOR OUR AUDIENCE?>>LOOK, WE HAVE INSTITUTIONAL ANALYST WHO COVERS AT&T I BELIEVE HE HAS OUTPERFORM ON IT. SO WHAT I WANT TO TALK ABOUT MORE IMPORTANTLY THIS IS A GREAT AMERICAN BRAND. THIS IS ONE OF THE GREAT, GREAT AMERICAN BRANDS AND GREAT AMERICAN BRANDS EVERY NOW AND THEN CAN GO OFF THE RAILS AND COME BACK ON THE RAILS. AT&T IS A GREAT BRAND. ELLIOT HAS A GOOD TRACK RECORD. WHAT I WOULD LIKE TO FOCUS ON, WE TALK ABOUT PASSIVE INVESTING ALL THE TIME AS BEING THIS GIANT BUBBLE BUT ACTIVIST INVESTING IS STILL HAPPENING. ELLIOT IS TAKING AN ACTIVE INVESTMENT. THAT IS GOOD THING FOR THE MARKET. I THINK THAT IS A GOOD THING. CHARLES: I HAVE MIXED FEELINGS WITH SOME OF THESE LARGE ACTIVIST INVESTORS WHO THINK THEY CAN RUN BUSINESSES BETTER THAN THE BUSINESSES THEMSELVES CAN. NEVERTHELESS IT IS MOVING THE STOCK TODAY.>>YEAH, WELL THIS IS EXACTLY WHAT I’M TALKING ABOUT, A LOW VOLATILITY STOCK, SLOW AND STEADY. IF YOU LOOK AT THE CHART, IT IS PRETTY SMOOTH. IT DOESN’T HAVE HUGE UPS AND DOWNS. I ACTUALLY LIKE AT&T, A LOT OF STUFF ELLIOT MENTIONED, AT&T MANAGEMENT ALREADY TALKED ABOUT, YEAH, WE RECOGNIZE THIS WE MADE A FEW MISTAKES AND WE’RE TRYING TO CHANGE. IT DOESN’T SEEM LIKE THEY’RE TWO ADVERSARIAL ON THEIR POINTS, THAT THEY WILL WORK TOGETHER. I THINK THIS IS A POSITIVE. WITH A DIVIDEND YIELD OF 5% THAT WILL BE FAVORABLE FOR THE STOCK IN A ENVIRONMENT WHERE YOU ARE LOWERING INTEREST RATES. THAT IS ANOTHER TAILWIND BEHIND THE STOCK. CHARLES: YOU REALLY GET PAID TO HOLD THIS STOCK.

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6 Comments

  • Reply James Skaggs September 9, 2019 at 7:43 pm

    A T & T get rid of CNN or I am switching cell service to someone else.

  • Reply Kevin Burke September 9, 2019 at 7:52 pm

    Their shares will surge even more once they get rid of CNN

  • Reply Lion P September 9, 2019 at 7:57 pm

    A TRUE LEADER HAS THE CONFIDENCE TO STAND ALONE
    THE COURAGE TO MAKE TOUGH DECISIONS
    THE COMPASSION TO LISTEN TO THE NEEDS OF OTHERS
    HE DOES NOT SET OUT TO BE A LEADER
    BUT BECOMES ONE BY THE EQUALITY OF HIS ACTIONS
    AND THE INTEGRITY OF HIS INTENT.
    THIS IS AMERICA'S CHOSEN PRESIDED DONALD J. TRUMP !

  • Reply Villie Stephanov September 9, 2019 at 8:31 pm

    Fusion is not up for shares of the same.

  • Reply Levi Notrub September 9, 2019 at 9:37 pm

    β˜ΊπŸ‘

  • Reply Chatla Suresh September 10, 2019 at 10:06 am

    How AT & T ended into media mafia and celebrity prostitution trafficking.

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