Update (4:30 p.m. EST): Updated with closing price, day high and low prices, price change and volume information.
NEW YORK (TheStreet) -- AT&T Inc. (T) rose 0.93% to $33.79, up 31 cents from its previous close of $33.48, at the close of the trading day on Wednesday after a federal appeals court ruled against the Federal Communications Commission's (FCC) net neutrality rule.
The stock had a volume of 25,732,529, above its average of 22,458,400. It hit a high of $34 and a low of $33.55 for the day.
The court ruled the FCC had no right to tell Verizon (VZ) that it could not charge different prices to different content providers based on their number of users and bandwidth. This reversed the FCC's rule of net neutrality, which would have Internet service providers and the government treat all data on the Internet equally regardless of user, platform, etc.
Verizon's stock rose on Wednesday, gaining 2.2% to $48.10, with AT&T piggybacked off the ruling.
TheStreet Ratings team rates AT&T INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate AT&T INC (T) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow."