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A&T To Cut 2015 Cap Ex 14%; Shares Of Suppliers Sink

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Key telecommunications suppliers fell Monday after AT&T Inc. (NYSE: T) said its spending on infrastructure would fall 14 percent next year.

In a filing on Friday, AT&T forecast 2015 capital spending on existing businesses in 2015 would be about $18 billion vs. $21 billion in 2014.

ADTRAN, Inc. (NASDAQ: ADTN) fell 6 percent, while Ciena Corporation (NYSE: CIEN) lost 6.5 percent.

Alcatel Lucent SA (NYSE: ALU) dropped 3.7 percent, Juniper Networks, Inc. (NYSE: JNPR) declined 1.4 percent and Cisco Systems, Inc. (NASDAQ: CSCO) was off 1.3 percent.

AT&T said it expects 2014 to be its peak investment year for "Project VIP," an effort to expand its broadband services, while its Wireless and Wireline segments' spending for the current year will be flat compared with 2013.

Posted-In: News Guidance Intraday Update

 

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