NEW YORK (TheStreet) -- Shares of AT&T Inc. (T) are higher by 1.85% to $34.97 on heavy volume in late afternoon trading on Monday, following a Reuters report stating the telecommunications and wireless communications services provider is preparing to bring connected car users exclusive content, including videos and games, that can be streamed onto personal mobile devices later this year.
"It's no different than being able to hook onto a Wi-Fi hotspot anywhere and get access to content you already subscribe to and get unique content that you could only get in the back of the vehicle," Chris Penrose, the company's VP of emerging devices told Reuters.
So far today, 39.40 million shares of AT&T have exchanged hands as compared to its average daily volume of 26.69 million shares.
The company's goal is to offer free or paid content exclusively for connected car users and sell more data, Penrose said.
Separately, 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 a number of strengths, 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 and expanding profit margins. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself."