NEW YORK (TheStreet) -- AT&T(T) - Get Report shares rose by 1.5% Wednesday, closing at $32.56, after the Dallas-based telecommunications company said on Tuesday it expects to add more than two million wireless customers in the just-concluded third quarter.
The company, led by CEO Randall Stephenson, also "reiterated its full-year financial guidance, including plans for double-digit revenue growth and profit margin expansion, even amid some foreign currency pressure," Re/codereported.
The company also said it may take a $1.1 billion charge in connection with DirecTV's Venezuelan properties due to currency problems there, according to Dallas Business Journal.
AT&T reports third-quarter earnings on Oct. 22.
Majority shareholder SoftBank Group (SFTBY) invested another $204 million in Sprint in September, Bloombergreported Wednesday, bringing its total stake in the Overland Park, Kans., company to about 83%. SoftBank made two other investments in Sprint in August.
Separately, Sprint said that, effective October 16, the price of its unlimited data plan will increase by $10, from $60 to $70.
Vodafone(VOD) - Get Report shares also increased by 2.7% Wednesday, closing at $31.74. The company said its Australian division signed two commercial agreements worth more than 1 billion Australian dollars with TPG Telecom. Read TheStreet's full report.
The companies had denied rumors that they were contemplating an outright merger to enable them to better compete, Reuters reported.
This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.