New AT&T To Begin Trading under ``T'' Ticker Symbol; ``T'' Will Return to Dow 30 After 20-Month Absence.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- One of the most-recognized ticker symbols in the global investment community will return to the Dow 30 tomorrow as the new AT&T begins trading under the legendary "T" symbol on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . The decision to adopt the "T" ticker symbol reflects both the rich heritage of the combined enterprise as well as its commitment to lead the next major shift in communications technology -- the transformation to integrated solutions based on Internet Protocol. "Our stockholders can be confident that we will maximize the unique opportunities we have as a combined enterprise to deliver great value and lead the industry forward," said Edward E. Whitacre Jr., chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AT&T Inc. "Our commitment to innovation, combined with an outstanding record of execution and excellent financial strength, strongly position the new AT&T to lead our industry in the years ahead," said Whitacre. The "T" symbol is widely recognized by investors. It also is closely associated with the AT&T brand, which is far and away the most-recognized communications brand in the U.S. and around the globe, according to research. The "T" symbol was used by AT&T Corp. before its acquisition by SBC (1) (SBC Communications Inc., San Antonio, TX, www.sbc.com) A large, national telecommunications company that grew from a multitude of local and regional companies, including Southwestern Bell, Pacific Bell and Nevada Bell, into a single, unified brand by 2002. Communications Inc. AT&T Corp. was a member of the Dow 30 until April 2004. SBC, which changed its name to AT&T Inc. after the transaction closed Nov. 18, had traded under the "SBC" ticker symbol. SBC had been included in the Dow 30 listing, long considered an important barometer of the stock market, since November 1999. At the time of their creation, single-letter ticker symbols, such as the "T," were assigned to the stocks that were most widely traded. These single-letter symbols reduced the number of characters that had to be printed by the stock ticker Stock ticker A letter designation assigned to securities and mutual funds that trade on US financial exchanges. and thereby avoided tape delays. AT&T Corp. was historically among the most widely held stocks in America. The new AT&T has approximately 3.9 billion shares outstanding and a market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of approximately $98 billion. The "T" ticker symbol was first used by American Bell, the predecessor of American Telephone and Telegraph Company, in 1888 on the Boston Stock Exchange The Boston Stock Exchange (BSE) is a regional stock exchange located in Boston, Massachusetts. The third-oldest stock exchange in the United States, it was founded in 1834. On October 2nd, 2007 Nasdaq agreed to acquire BSE for $61 million. . In 1901, American Telephone and Telegraph, which later became AT&T, started trading under the symbol "ATT ATT ammonia tolerance test. " on the New York Stock Exchange, and it adopted the "T" symbol in 1930. The "SBC" stock ticker symbol dates back to 1984, following the creation of Southwestern Bell Corporation after divestiture by the original AT&T. The new AT&T will provide details on its operational plans along with an updated financial outlook for the company, including expected synergies, at an investor conference in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. on Jan. 31, 2006. About the New AT&T AT&T, Inc. is one of the world's largest telecommunications holding companies and is the largest in the United States. Operating globally under the AT&T brand, AT&T companies are recognized as the leading worldwide providers of IP-based communications services to business and as leading providers in the United States of high-speed DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary Internet, local and long-distance voice, and directory publishing and advertising services. AT&T, Inc. holds a 60 percent ownership interest in Cingular Wireless, the No. 1 wireless services provider with more than 52 million wireless customers. Additional information about AT&T, Inc. and AT&T products and services is available at www.TheNewATT.com. (C) 2005 SBC Knowledge Ventures, L.P. All rights reserved. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion