Telecom giant AT&T (T) will take a $10 billion fourth-quarter charge related to its pension and benefit plans, the company warned late on Thursday. AT&T also warned that high smartphone subsidies will put pressure on the firm's profit and estimated that the impact of storms, including Superstorm Sandy, will reduce its fourth-quarter operating income by around $175 million.
AT&T shares closed the week down 2.4% at $33.44.
In addition to Apple, a host of other tech companies report quarterly results next week, including IBM (IBM), Symantec (SYMC), Google (GOOG), AMD (AMD), Texas Instruments (TXN), F5 Networks (FFIV) and Juniper Networks (JNPR).-- Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org.
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