New York, June 18, 2026, 09:08 (EDT)
- AT&T changed hands at $22.37 ahead of the New York open, down from its $22.44 finish Wednesday.
- Pascal Desroches plans to step down as CFO at the end of the year. Jennifer Biry will take the job starting Jan. 1, 2027.
- The stock is trading in a short week as NYSE markets are closed Friday for Juneteenth.
AT&T Inc. fell again in premarket trading Thursday, after shares slid on Wednesday. Investors looked at a coming CFO transition and the company’s ongoing costs for fiber and 5G. The stock finished Wednesday at $22.44 and traded at $22.37 before the bell. NYSE trading begins at 9:30 a.m. ET.
AT&T’s pitch to investors has tightened up, with the focus now on steady wireless growth, a big fiber push, and enough free cash flow for dividends, buybacks and cutting debt. In April, the company posted first-quarter revenue of $31.5 billion, free cash flow at $2.5 billion, and capital spending at $5.1 billion. AT&T has kept its 2026 free-cash-flow target above $18 billion.
The stock is trading lower in a weak market. U.S. indexes fell Wednesday after the Fed’s rate outlook led traders to raise odds for a rate hike this year. The S&P 500 fell 1.2% to 7,420.10. The Dow dropped 1%. The Nasdaq lost 1.3%.
AT&T plans to name Jennifer Biry as its next CFO, succeeding Pascal Desroches, who retires at the end of this year. Biry, who previously served as CFO at McAfee and has spent years at AT&T, will step in as deputy CFO on July 6, the company said in a filing cited by Reuters. She is set to take on the CFO role at the start of 2027.
AT&T CEO John Stankey called Desroches “an exceptional partner and a principled leader” in a LinkedIn post, adding he was “delighted to welcome Jennifer back.” In her own LinkedIn note, Biry described her return to AT&T as “a full-circle moment.” LinkedIn
AT&T’s transition looks smooth in the press release. But investors will focus on results. The first big update is July 22, when AT&T posts Q2 earnings before the NYSE opens and hosts its 8:30 a.m. ET call.
Verizon is moving to cut fees and make its wireless plans easier. The company said Tuesday it will drop activation and upgrade fees, roll out simpler wireless plans, and start a loyalty program. Verizon is taking these steps as it goes up against AT&T and T-Mobile in a crowded U.S. market. Alfonso Villanueva, interim CEO of Verizon Consumer Group, told Reuters the changes are meant to build “a value proposition that makes sense for every cohort.” He said Verizon thinks retention will improve. Reuters
AT&T’s bundled offer is drawing attention again. The company is banking on selling fiber broadband and wireless lines as a package to lower churn and boost the value of each household account. But if competitors match AT&T’s prices and perks, there could be questions about whether AT&T will need to raise spending just to hold onto customers.
Starlink’s threat isn’t limited to Verizon. Oppenheimer warned the $1.6 trillion U.S. communications market could see disruption from SpaceX’s unit and said older names like AT&T face risk. Low Earth orbit satellites, which operate closer to the planet and cut internet lag, could put pressure on broadband subscriber growth if capacity goes up and prices drop quicker than forecast.
AT&T shares wrap up their regular week of trading on Thursday. The NYSE will be closed Friday, June 19 for Juneteenth National Independence Day, so investors are making their moves ahead of the three-day market closure.
