What's Going On With AT&T Shares

AT&T Inc. T shares are trading higher by 1.15% to $15.38 Monday morning. AT&T shares have seen volatility in recent sessions following reports and rumors suggesting DISH Network Corp DISH could be selling wireless plans through Amazon.com, Inc. AMZN.

However, per Reuters, leading U.S. wireless carriers announced on Friday that they are not engaged in discussions with Amazon regarding the provision of budget-friendly wireless services to its Prime members.

"We are always exploring adding even more benefits for Prime members, but don't have plans to add wireless at this time," an Amazon spokesperson said in response to a Reuters query.

Also, HSBC analyst Adam Fox-Rumley on Monday maintained AT&T with a Buy and lowers the price target from $21 to $19.

Furthermore, AT&T shares have experienced a decline of around 10.62% over the last month, indicating ongoing weakness following the release of the company's first-quarter earnings report in April. The report revealed lower-than-expected cash flow, contributing to the downward trend in share performance.

What's Going On With DISH Network?

The potential deal allows Dish to market its service to millions of prospective customers and help Amazon expand its relatively small footprint in the consumer smartphone market.

See Also: Palo Alto Networks Shares Surge As It Joins S&P 500

Amazon has previously discussed potential wireless business deals with Dish.

Wireless plans sold through Amazon's e-commerce portal could eventually challenge rival cellphone carriers...Read More

According to data from Benzinga Pro, T has a 52-week high of $21.53 and a 52-week low of $14.46.