AT&T Reports Slowdown in Consumer Business
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AT&Tâs shares tumbled after its chairman and chief executive, Randall Stephenson, said the telecom carrier is experiencing some slowdown in its consumer business segments.
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The semiconductor industry is showing  the first signs of slowing growth, trimming purchases of raw  materials and production equipment as demand slows, industry  executives and analysts said on Tuesday.
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The pace of growth in U.S. service industries slowed in September and pricing power ebbed, according to a report on Wednesday that showed a key service sector index falling to its lowest since April 2003.
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US telephone and cable companies saw the growth of high-speed Internet services slow in the second quarter to the lowest rate in a year, an industry research firm said on Tuesday.
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Consumers shelled out for electronics, especially TVs, but growth over the previous year slowed.
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AT&T CEO Randall Stephenson told investors Tuesday that the company saw some weakness in the consumer market in December, sending the company's stock down 4.5 percent.
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AT&T  posted stronger-than-expected mobile growth on Thursday and affirmed its 2008 outlook, but its shares fell as much as 3.4 percent amid persistent worries about the U.S. economy.
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U.S. telephone and cable companies saw the growth of high-speed Internet services slow in the second quarter to the lowest rate in a year, an industry research firm said on Tuesday.
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Revenue from its basic phone service is slipping as consumers make more cellular calls and experiment with upstart Internet-based phone providers.
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Motorola executives said demand for the companyâs cellphones had slowed and the company was losing market share.
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Operating profits slipped 5.5 percent at Cingular Wireless LLC despite gains in both subscribers and revenue in what was likely the last full quarter before the company's completes its &#36;41 billion purchase of AT&amp;T Wireless Services Inc.
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AT&T Inc  said on Tuesday it saw softness in its consumer business, spooking investors who thought telecoms would be sheltered from the U.S. economic slowdown and helping drive the Standard & Poor's 500 stocks index to its worst five-day start to a year ever.
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AT&T Corp. said it would restructure its business, cutting 20 percent of its jobs and writing down the value of its network by $11.4 billion, as it winds down its residential telephone business.
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A slowing  economy may be a drag on corporate profits, some analysts say.
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More than half of U.S. consumers are  less than satisfied with their mobile telephone service and  give the lowest ratings to providers involved in large mergers,  according to a Consumer Reports survey.
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AT&T Corp. on Thursday reported a  $7.1 billion third-quarter loss due to an $11.4 billion  writedown of its assets after its retreat from consumer  services and other restructuring charges.
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U.S. consumer confidence sank in  August while Chicago-area business activity slowed, according  to reports on Tuesday that added to worries the economy's patch  of sluggish growth may last beyond the summer.