Morning Commentary: AT&T down, awaits anti-trust decision; Bank of America off

By James McCandless

San Antonio, May 7 – AT&T Inc.’s 5.35% global notes due 2066 slid in early morning trading as the company plays the waiting game in its attempted merger with Time Warner. Arguments concluded last Monday in its high-profile anti-trust case against the Department of Justice over whether such a merger would raise prices on consumers.

The company faces another anti-trust probe over whether or not it cooperated with Verizon to make it more difficult for customers to switch wireless carriers.

With about 154,000 notes trading Monday morning, the debt was down 27 cents to $24.78.

Bank of America Corp.’s 6.00% series EE non-cumulative preferred stock amid news that the company will be pricing a new series of preferred stock.

With about 152,000 shares exchanged, the preferreds were down 25 cents to $25.64.

The Wells Fargo Hybrid & Preferred Securities Financial index was up 0.08% in early trading, increasing Friday’s 0.10% gain at market close.

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