AT&T drops as Starlink and cable stocks split comms index
AT&T Inc. lagged the rest of the communications sector as the market climbed. The stock dropped 5.2% to $21.55 just before noon in New York, trailing the XLC by nearly 7 points. Shares touched a session low of $21.28, trading just 1.2% above that by late morning. The spread is key since this wasn’t just a sector drop. Cash flowed to cable and space plays as legacy wireless carriers fell.