AT&T (T) Stock Up, Reportedly Interested in Yahoo’s Internet Business
TheStreet's Anchor Rhonda Schaffler discusses AT&T's reported bid for Yahoo.
Updated from 11:24 AM EDT.
NEW YORK (TheStreet) -- AT&T (T) - Get Report made a bid for Yahoo! (YHOO) and continues to be a contender to acquire the Sunnyvale, CA-based company's core internet business, according to sources cited by Bloomberg.
Shares of AT&T are slightly higher by 0.31% to $38.62 in mid-afternoon trading on Wednesday.
Previously, the Dallas-based telecommunications giant had decided not to make an offer, sources said in April.
AT&T remained in the process via its stake in digital advertising company YP Holdings, which had proposed a merger with a subsidiary spun out of Yahoo's core business, Bloomberg noted.
But YP is no longer pursuing such a deal, one of the sources said.
Verizon Communications (VZ) has long been the frontrunner to buy the Internet giant.
Shares of Yahoo! are slumping 3.01% to $36.40 this afternoon.
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Separately, TheStreet Ratings Team has a "Buy" rating with a score of A on AT&T stock.
The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income, good cash flow from operations, expanding profit margins and solid stock price performance.
The team believes its strengths outweigh the fact that the company has had generally high debt management risk by most measures that were evaluated.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: T
