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AT&T Boosts FirstNet Platform to Combat Coronavirus Fears
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With the coronavirus pandemic showing no signs of letting up, wireless service provider giant — AT&T Inc. (T - Free Report) — has leveraged its much-acclaimed FirstNet platform to come up with a dedicated library of mobile tools for FirstNet subscribers and first responders. The company’s initiative is aimed at catering to mission-critical technology requirements of various government agencies, reinforcing its commitment to deploy reliable, secure and interoperable public safety communications platform during this troubled period. Notably, the world’s economic and health infrastructure is under significant duress owing to the outbreak. Despite its positive endeavors, the company’s shares witnessed a meager rise of 1.3% in yesterday’s trading session to close at $30.23.
Dubbed FirstNet App Catalog, this trailblazing initiative by AT&T’s FirstNet helps the first responders, government agencies and public safety communities to gain reliable access to data, voice and text services with seamless broadband connectivity. Impressively, the dedicated teams of first responders leverage these services with the help of a well-organized catalog, which comprises a wide array of public safety applications. Some of these applications are GD e-Bridge, 10-21 Police Phone by Callyo and Response for FirstNet by Intrepid. Markedly, these applications have been specifically designed to enhance operational capacity and mission execution, and grow situational awareness about the ongoing coronavirus pandemic with effective responder communications system.
AT&T has been aggressively building FirstNet for first responders and creating next-generation mobile 5G. Over the years, the company has invested more than $145 billion in wireless and wireline networks, including capital investments, and acquisitions of wireless spectrum and operations. Its fiber network is one of the nation’s largest and connects more IoT devices compared with any other provider in North America.
The Dallas, TX-based wireless carrier has also secured the Federal Communications Commission’s (“FCC”) Special Temporary Authority to use additional spectrum to help meet Americans’ wireless broadband needs during the coronavirus pandemic. Joining a growing list of large U.S. employers that are boosting pay of the American workforce, AT&T has decided to pay a 20% bonus above the regular hourly base rate to all of its union employees. Moreover, it is also giving the first responders and federal agencies a priority access to their streamlined networking facilities so that they can communicate effectively not only within their departments but also with other hospitals, health care and public sector agencies, who are battling this crisis on the front line.
Reportedly, the regulatory body has been encouraging Americans to work from home and connect remotely to health care professionals during this hour of crisis. So far, more than 550 companies and associations, including Verizon Communications Inc. (VZ - Free Report) , T-Mobile US, Inc. (TMUS - Free Report) and Sprint Corporation (S - Free Report) along with AT&T, have signed FCC’s pledge to “Keep Americans Connected”. Impressively, it has also established six new “command centers” to cater to higher broadband demand for homes, new circuits, and unified communication services.
Despite such pro-active measures, AT&T remains uncertain about the possible impact of the virus outbreak on its financial or operational results. Among the factors that could impact its results are the effectiveness of COVID-19 mitigation measures, global economic conditions, consumer spending, work from home trends and supply chain sustainability. These factors could result in increased or decreased demand for the company’s products and services and impact its ability to serve customers. That said, it continues to care for employees and enhance network, including nationwide 5G. The investments will help ensure that the company is well positioned when the pandemic eases and economies begin to recover.
The shares of the Zacks Rank #3 (Hold) have lost 5.4% compared with the industry’s decline of 5% in the past year. With a forward P/E ratio of 8.3, the company topped earnings estimates thrice in the trailing four quarters and matched the same in the remaining quarter. It has a trailing four-quarter positive earnings surprise of 0.9%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
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AT&T Boosts FirstNet Platform to Combat Coronavirus Fears
With the coronavirus pandemic showing no signs of letting up, wireless service provider giant — AT&T Inc. (T - Free Report) — has leveraged its much-acclaimed FirstNet platform to come up with a dedicated library of mobile tools for FirstNet subscribers and first responders. The company’s initiative is aimed at catering to mission-critical technology requirements of various government agencies, reinforcing its commitment to deploy reliable, secure and interoperable public safety communications platform during this troubled period. Notably, the world’s economic and health infrastructure is under significant duress owing to the outbreak. Despite its positive endeavors, the company’s shares witnessed a meager rise of 1.3% in yesterday’s trading session to close at $30.23.
Dubbed FirstNet App Catalog, this trailblazing initiative by AT&T’s FirstNet helps the first responders, government agencies and public safety communities to gain reliable access to data, voice and text services with seamless broadband connectivity. Impressively, the dedicated teams of first responders leverage these services with the help of a well-organized catalog, which comprises a wide array of public safety applications. Some of these applications are GD e-Bridge, 10-21 Police Phone by Callyo and Response for FirstNet by Intrepid. Markedly, these applications have been specifically designed to enhance operational capacity and mission execution, and grow situational awareness about the ongoing coronavirus pandemic with effective responder communications system.
AT&T has been aggressively building FirstNet for first responders and creating next-generation mobile 5G. Over the years, the company has invested more than $145 billion in wireless and wireline networks, including capital investments, and acquisitions of wireless spectrum and operations. Its fiber network is one of the nation’s largest and connects more IoT devices compared with any other provider in North America.
The Dallas, TX-based wireless carrier has also secured the Federal Communications Commission’s (“FCC”) Special Temporary Authority to use additional spectrum to help meet Americans’ wireless broadband needs during the coronavirus pandemic. Joining a growing list of large U.S. employers that are boosting pay of the American workforce, AT&T has decided to pay a 20% bonus above the regular hourly base rate to all of its union employees. Moreover, it is also giving the first responders and federal agencies a priority access to their streamlined networking facilities so that they can communicate effectively not only within their departments but also with other hospitals, health care and public sector agencies, who are battling this crisis on the front line.
Reportedly, the regulatory body has been encouraging Americans to work from home and connect remotely to health care professionals during this hour of crisis. So far, more than 550 companies and associations, including Verizon Communications Inc. (VZ - Free Report) , T-Mobile US, Inc. (TMUS - Free Report) and Sprint Corporation (S - Free Report) along with AT&T, have signed FCC’s pledge to “Keep Americans Connected”. Impressively, it has also established six new “command centers” to cater to higher broadband demand for homes, new circuits, and unified communication services.
Despite such pro-active measures, AT&T remains uncertain about the possible impact of the virus outbreak on its financial or operational results. Among the factors that could impact its results are the effectiveness of COVID-19 mitigation measures, global economic conditions, consumer spending, work from home trends and supply chain sustainability. These factors could result in increased or decreased demand for the company’s products and services and impact its ability to serve customers. That said, it continues to care for employees and enhance network, including nationwide 5G. The investments will help ensure that the company is well positioned when the pandemic eases and economies begin to recover.
The shares of the Zacks Rank #3 (Hold) have lost 5.4% compared with the industry’s decline of 5% in the past year. With a forward P/E ratio of 8.3, the company topped earnings estimates thrice in the trailing four quarters and matched the same in the remaining quarter. It has a trailing four-quarter positive earnings surprise of 0.9%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2020 today >>