Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, May 21, 2021

Article Excerpt

AT&T INC., $30.01, New York symbol T, is still a buy for long-term gains. The company is the largest wireless carrier in the U.S. It also offers traditional phone and satellite TV services. In June 2018, AT&T completed its $103 billion cash-and-stock purchase of media giant Time Warner (now called WarnerMedia). WarnerMedia owns several popular cable TV channels, as well as the Warner Bros. studio, which produces movies and TV shows. The company is now merging the WarnerMedia division with Discovery Inc. (Nasdaq symbol DISCA). It will be one of the world’s largest media firms with over 100 cable TV channels including HBO, CNN, TLC, TNT, TBS, Cartoon Network, Discovery, HGTV, Food Network and Animal Planet. That larger size will also help it compete with Netflix, Disney+ and other streaming services. Under the terms of the deal, AT&T will hand out shares in this new, publicly traded media firm to its own investors as a tax-free distribution. As a group, they will own 71%…