Morning Commentary: AT&T down amid cloud of second antitrust inquiry; QTS preferreds lower

By James McCandless

San Antonio, April 23 – AT&T Inc.’s preferreds were off at the beginning of the week as reports surfaced at the end of trading on Friday that the Department of Justice, amid its antitrust trial over the attempted merger with Time Warner, has opened a second probe alleging cooperation by AT&T with Verizon.

The government accused the companies of cooperating to hinder consumers from easily switching wireless carriers.

With about 108,000 shares trading already this morning, the preferreds were down 9 cents to $24.81.

QTS Realty Trust, Inc. was another volume favorite to begin the week in trading with about 192,000 shares exchanged so far.

The company is expected to release first-quarter earnings next Monday.

The 7.125% series A cumulative redeemable perpetual preferreds were down 10 cents to $25.04.

The Wells Fargo Hybrid & Preferred Securities Financial index was down 0.31% in early trading on Monday, reversing much of the 0.34% gain from market close on Friday.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.