AT&T Cutting Shared Data Plan by 23% in Pre-Holiday Promotion

AT&T announced a major holiday promotion, cutting its shared 15-gigabyte data plan to $100 per month, down from $130, for a limited time. While Verizon offers the same deal as AT&T, Sprint users get even more data: 20-gigabytes for $100. This comes as mobile carriers compete to win more business, even if it means taking a profits hit. Third-quarter earnings for Verizon, T-Mobile and AT&T fell short of analyst estimates. Shares of AT&T are trading down slightly by 0.4% percent at about $35.71 per share. The stock is up 1.5% since the start of the year. TheStreet's Scott Gamm has details from New York.