AT&T, Inc. (NYSE:T) reports that its quarterly profit surpassed Wall Street estimates due to a strong performance from its wireless arm. Net income was $3.9 billion, 66 cents per share, up from $3.6 billion and 60 cents per share one year ago. Analysts had planned on earnings of 63 cents per shares. AT&T shares traded down $0.99 (2.80%) recently at $34.39.
Sprint Nextel Corp. (NYSE:S), the third-largest wireless carrier in the U.S., will announce its Q2 results prior to the stock market opening on Thursday. Sprint shares traded down $0.14 (4.06%) recently at $3.42.
Verizon Communications Inc. (NYSE:VZ): Coinstar’s (NASDAQ:CSTR) Redbox anticipates starting alpha testing for its instant streaming, according to FastCompany.com. A beta program is planning in coming months and will have former Verizon FiOS executive Shawn Strickland as CEO. Shares of Verizon traded down $0.73 (1.66%) recently at $43.62.
Frontier Communications Corporation (NYSE:FTR) is in a wholesale agreement with Hughes Network Systems. Frontier will distribute satellite-based broadband services, labeled Frontier Broadband, that will dispatch notably increased speed and capacity to several hundred thousand households and small businesses within markets unserved or underserved before by all broadband suppliers, including cable. Frontier shares traded down $0.06 (1.63%) recently at $3.61.
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