T-Mobile US Inc

NASDAQ:TMUSUnited States

Jul 12, 2024

Show headlines and story abstract

• DJ Correction to AT&T Hack Made a Bad Year Worse. Why It Hasn't Mattered for the Stock. -- Barrons.com, from 5:27PM ET on Friday Jul 12, 2024 by Dow Jones

  5:27PM ET on Friday Jul 12, 2024 by Dow Jones
  Companies Mentioned: T, UNH, AAP, TMUS
  By Brian Swint AT&T stock was dropping Friday after it reported that customer data had been breached, adding to concerns about data security at the mobile phone carrier. The good news for AT&T was that it hasn't found evidence that the information on call and text history was shared publicly. Nevertheless, customers may still feel that their privacy has been violated yet again by companies that they had trusted to keep their data safe. In a filing, AT&T said that its investigation suggests that in April, someone was able to unlawfully access, via a third-party cloud service, records of customer call and texts from between May 1 and Oct. 31, 2022, as well as for Jan. 2, 2023. The information pertains to "nearly all of AT&T's wireless customers" and includes telephone numbers, counts of interactions, and the durations of calls. It doesn't include the content of those calls or texts. AT&T said that it was cooperating with law enforcement, and one person has been apprehended. A spokesperson for AT&T confirmed reports that the cloud service provider involved was Snowflake. In an email, Snowflake information security officer Brad Jones said, "We have not identified evidence suggesting this activity was caused by a vulnerability, misconfiguration, or breach of Snowflake's platform." Snowflake shares were down 2.2%. AT& stock isn't suffering too much. Shareholders still appear to be content with AT&T's ability to get new subscribers. The shares dropped 0.3% to $18.81. Coming into the session, the stock had gained 12% this year and was up 30% over the past 12 months, while the S&P 500 had gained 17% this year and 24% over the past 12 months. By comparison, Verizon was up 0.4% at the open and has gained 9% this year. T-Mobile was up 0.9%, and has added 11% this year. Other companies that have reported hacks recently include UnitedHealth Group and Advance Auto Parts. Earlier this year, AT&T reported another hack that included customers' pass codes, names, and Social Security numbers. In February, it suffered a network failure that left people across the country without cellphone service for hours. In 2022, T-Mobile, a rival mobile carrier to AT&T, paid $350 million to victims of its own hack that affected more than 50 million people. Write to Brian Swint at brian.swint@barrons.com This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. Corrections & Amplifications: AT&T's stock dropped Friday after the company reported a breach of customer data. An earlier version of this article incorrectly said the stock fell after the news on Thursday. (END) Dow Jones Newswires July 12, 2024 17:27 ET (21:27 GMT)

• DJ AT&T Customers Get Hacked. The Stock Is Dropping. -- Barrons.com, from 9:23AM ET on Friday Jul 12, 2024 by Dow Jones

  9:23AM ET on Friday Jul 12, 2024 by Dow Jones
  Companies Mentioned: T, UNH, AAP, TMUS
  
  By Brian Swint
  
  AT&T stock was dropping Thursday after it reported that customer data had been breached, adding to concerns about data security at the mobile phone carrier.
  

• DJ Canadian Telecom Bad News Already Priced In, Seen as Oversold -- Market Talk, from 7:52AM ET on Friday Jul 12, 2024 by Dow Jones

  7:52AM ET on Friday Jul 12, 2024 by Dow Jones
  Companies Mentioned: QBR.A, QBR.B, RCI.A, RCI.B, RCI, T, TU, BCE, BCE, TMUS
  
  0752 ET - A lot of bad news has already been priced into Canadian telecom stocks, says Vince Valentini of TD Cowen, and maybe too much. Shares of the main four telecoms in Canada are down between 9.3% and nearly 19% so far in 2024, "and if we include T-Mobile in the averages, then Canadian cable/telco names are now down to U.S. levels." He says that a lot of negative sentiment is priced into valuations, such as prepandemic performance, current price competition, "and we believe the sector is oversold. Is all the news bad, so that this weakness is justified? We say no." (adriano.marchese@wsj.com)