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AT&T shares remain unchanged on Monday, executives to head company’s media and wireless businesses following Time Warner deal

According to a July 28th statement by AT&T Inc (T), its media and wireless businesses are to be headed by three executives, after the $85.4-billion acquisition of Time Warner Inc is finalized. Expected to be closed by the end of 2017, the deal would grant AT&T Inc control of HBO and CNN cable TV channels, Warner Bros film studio as well as other key media assets.

AT&T shares closed flat during Mondays trading session. The stock closed at $39.00, with the intraday high and the intraday low being at $39.13 and $38.72 respectively. In the week ended on July 30th the shares of the communication service provider added 6.82% to their market value compared to a week ago, which marked a second consecutive period of gains and also the best performance in at least two years. The stock has risen 3.37% in July, which marked the first gain in the past seven months, but yet, the smallest one since July 2016. For the entire past year, the shares of the NYSE-listed company gained 23.60%.

Effective August 1st, John Stankey, the current head of AT&Ts DirecTV and other entertainment businesses, will be appointed to lead the team responsible for the integration of Time Warner Inc. After the merger is finalized, Stankey is to assume the post of Chief Executive Officer of AT&Ts media business.

At the same time, John Donovan, the companys current Chief Strategy Officer, will be appointed as CEO of AT&T Communications. The latter is to encompass AT&Ts DirecTV and wireless businesses.

Meanwhile, in addition to her duties as global marketing officer, Lori Lee is to head AT&Ts international business.

The three executives are expected to report to AT&T Incs Chief Executive Officer Randall Stephenson.

According to CNN Money, the 21 analysts, offering 12-month forecasts regarding AT&T Inc’s stock price, have a median target of $42.00, with a high estimate of $48.00 and a low estimate of $23.00. The median estimate is a 7.69% surge compared to the closing price of $39.00 on July 31st.

The same media also reported that 18 out of 28 surveyed investment analysts had rated AT&T Inc’s stock as “Hold”, while 6 – as “Buy”. On the other hand, 1 analyst had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the AT&T stock are presented as follows:

R1 – $39.04
R2 – $39.08
R3 (Range Resistance – Sell) – $39.11
R4 (Long Breakout) – $39.23
R5 (Breakout Target 1) – $39.36
R6 (Breakout Target 2) – $39.41

S1 – $38.96
S2 – $38.92
S3 (Range Support – Buy) – $38.89
S4 (Short Breakout) – $38.77
S5 (Breakout Target 1) – $38.64
S6 (Breakout Target 2) – $38.59

By using the traditional method of calculation, the weekly levels of importance for AT&T Inc (T) are presented as follows:

Central Pivot Point – $38.27
R1 – $40.40
R2 – $41.81
R3 – $43.94
R4 – $46.08

S1 – $36.86
S2 – $34.73
S3 – $33.32
S4 – $31.92 is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

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