AT&T Down Nearly 7%, on Pace for Lowest Close Since August 2010 -- Data Talk

AT&T Inc. (T) is currently at $26.48, down $1.97 or 6.92%

-- Would be lowest close since Aug. 20, 2010, when it closed at $26.45

-- Earlier Monday, Cowen downgraded AT&T to market perform and warned the company might not meet its 3-year earnings plan. The investment bank warns AT&T's complexity and many risks make it "unlikely to beat the market either on a continued selloff or eventual recovery" amid the coronavirus outbreak, partly because its film and TV assets make it more vulnerable than purer telecom peers like Verizon

-- Baird also downgraded AT&T, lowering its rating to neutral from outperform, and cutting its price target to $33.00/share from $41.00/share, Benzinga reported.

-- Currently down five of the past six days

-- Currently down four consecutive days; down 21.52% over this period

-- Longest losing streak since Feb. 28, 2020, when it fell for six straight trading days

-- Worst four day stretch on record (Based on available data back to Nov. 21, 1983)

-- Down 24.82% month-to-date; on pace for worst month on record (Based on available data back to Nov. 21, 1983)

-- Down 32.24% year-to-date

-- Down 55.26% from its all-time closing high of $59.19 on July 16, 1999

-- Would be a new 52-week closing low

-- Traded as low as $26.08; lowest intraday level since July 30, 2010, when it hit $25.79

-- Down 8.33% at today's intraday low

-- Fourth most active stock in the S&P 500 today

All data as of 12:19:11 PM

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

March 23, 2020 12:46 ET (16:46 GMT)

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