NEW YORK ( TheStreet) -- AT&T T slipped on Thursday, following its analyst day event. U.S. regulators reportedly called on their European counterparts to seize over $1 billion in assets of three telecom companies and middlemen tied to the daughter of the Uzbekistan president, in a long-running criminal investigation allegedly involving corruption.
AT&T fell 0.62% to close at $33.81.
AT&T, which held its analyst day on Wednesday and issued a raised revenue forecast, continued to lose ground, even though several analysts made favorable remarks in their reports.
Wells Fargo analysts, for example, revised their 2015 revenue estimates to $152 billion from $132.9 billion and upped earnings estimates to $2.65 a share from $2.58 per share, according to a 24/7 Wall St. report. Wells also increased its 2016 estimates, revising revenue to $171.2 billion from $133 billion and pushing earnings estimates up to $2.78 per share from $2.58 a share.
Merrill Lynch analysts, according to 24/7 Wall St., noted in their report: "Big picture, the '15 initial post-deal guide is $0.09 below our pro forma estimate which we attribute to a range of conservative out of the gate assumptions while the 3 year forward picture is better than we forecast."
U.S. regulators are seeking the assistance of their European counterparts to seize over $1 billion in assets of three global telecom companies and middlemen affiliated with the daughter of the Uzbekistan president, according to a report in The Wall Street Journal.
Regulators in the U.S. reportedly believe that Vimpelcom of Amsterdam, Mobile TeleSystems PJSC of Russia and TeliaSonera AB of Sweden arranged to have hundreds of millions of dollars go to companies that were controlled by the eldest daughter of the Uzbekistan's president, according to the Journal. In return, these companies allegedly received coveted wireless frequencies and other favors in that country, the Journal reported.
In the U.S., the Justice Department and Securities and Exchange Commission have been conducting a probe for at least a year and European regulators have been undertaking related investigations for several years, according to the Journal.
This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.