The

Dow Jones Industrial Average

(

^DJI

) is trading down 48.0 points (-0.4%) at 13,025 as of Tuesday, Jul 31, 2012, 12:35 p.m. ET. During this time, 235 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 685.1 million. The NYSE advances/declines ratio sits at 1,199 issues advancing vs. 1,673 declining with 150 unchanged.

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The Dow component leading the way higher looks to be

AT&T

(NYSE:

T

), which is sporting a 47-cent gain (+1.3%) bringing the stock to $37.90. Volume for AT&T currently sits at 17.6 million shares traded vs. an average daily trading volume of 28.5 million shares.

AT&T has a market cap of $217.75 billion and is part of the

technology

sector and

telecommunications

industry. Shares are up 23.8% year to date as of Monday's close. The stock's dividend yield sits at 4.7%.

AT&T Inc., together with its subsidiaries, provides telecommunications services to consumers, businesses, and other providers worldwide. The company has a P/E ratio of 49.5, below the average telecommunications industry P/E ratio of 50.2 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates AT&T as a

buy

. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

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