New York, May 16, 2026, 12:03 EDT
AT&T Inc. closed down 2.52% at $24.03 on Friday, stretching a three-day loss. With the New York Stock Exchange closed Saturday—normal hours are weekdays, 9:30 a.m. to 4 p.m. ET—the next round of trading for AT&T is set for Monday.
Investors saw shares slide this week, even as AT&T came out with new strategic news instead of lowering its outlook. Now the focus is whether things like satellite coverage, spectrum, and ongoing fiber spending can keep backing the stock despite the move.
AT&T ended the Friday-to-Friday stretch down roughly 4.5%, dropping from $25.16 on May 8 to $24.03 on May 15. Volume spiked on Friday, with 44.24 million shares changing hands—higher than the rest of the week’s sessions. The heavier trading made the week’s slide feel sharper.
AT&T was weaker than its main wireless rivals Friday. Verizon slipped 1.47%, T-Mobile gave up 1.58%. The S&P 500 shed 1.24%. Dow Jones Industrial Average dropped 1.07% on a day when risk was out of favor.
AT&T, Verizon and T-Mobile plan to set up a joint venture targeting rural wireless “dead zones,” the biggest industry move of the week. The venture would bring direct-to-device, or D2D, satellite tech to fill gaps where cell towers don’t reach or fail, giving U.S. wireless carriers more coverage and backup in a disaster. Reuters said Thursday the companies agreed in principle. Reuters
AT&T Chairman and CEO John Stankey said the plan aims to “make staying connected simple,” whether it’s on rural highways, in parks, out on the water or during emergencies. T-Mobile CEO Srini Gopalan said customers should see “fewer dead zones.” Verizon CEO Dan Schulman said it was a move toward “resilient digital infrastructure.” AT&T Newsroom
The regulatory angle matters, too. The Federal Communications Commission signed off Tuesday on EchoStar’s $40 billion wireless spectrum sale. That includes a $23 billion chunk—about 50 megahertz—going to AT&T. Spectrum refers to licensed airwaves used for wireless service, with more spectrum boosting 5G reach and network strength.
FCC Chairman Brendan Carr called the approval “fundamentally reshaping the wireless industry,” in comments to Reuters. The FCC said AT&T’s low-band spectrum will boost coverage, with a focus on rural and underserved spots. AT&T will also have to build its network on a faster timeline than it wanted. Reuters
AT&T said Stankey is set to appear at the J.P. Morgan Global Technology, Media and Communications Conference on May 19. The company said it will keep its 2026 and multi-year guidance. That includes a target to return more than $45 billion to shareholders from 2026 to 2028 and to bring net debt down to about 2.5 times adjusted EBITDA, which is based on earnings before interest, tax, depreciation and amortization.
No clear surprises came out of the annual meeting. AT&T reported all 10 board nominees were re-elected. Shareholders backed the executive pay package in the advisory vote and voted down two shareholder proposals.
The near-term setup is about buyers holding the $24 level on Monday and whether the bigger U.S. indexes can recover after Friday’s drop. Investors are also looking for more clarity from Stankey on cash flow, debt, and spending. Analyst views still lean bullish for the next year, with StockAnalysis counting 16 “Buy” calls and an average price target of $30.53, ranging from $26 to $36. StockAnalysis
The risk is the market may keep seeing the satellite and spectrum deal as costly work ahead instead of value soon. The joint venture has pending final agreements and closing steps. AT&T faces quicker build requirements with new spectrum. If the stock drops under Friday’s close, traders may start watching the downside range, not analyst targets for the long term.
