AT&T (T) - Get AT&T Inc. Report was up 1.9% in preopen Instinet trading after posting a first-quarter loss of 10 cents per share after items. Excluding items, the company posted earnings of 6 cents per share, ahead of the Street's 5-cent consensus. Ma Bell earned 34 cents per share a year ago.

AT&T also warned that second-quarter EPS would fall below current estimates.

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