Earnings Preview: AT&T's 2Q may be hurt by economy

NEW YORK (AP) - AT&T Inc. reports its second-quarter results on Wednesday. The following is a summary of key developments and analyst opinion related to the period. OVERVIEW: The round of second-quarter earnings reports from telecommunications companies kicks off with the biggest of the bunch. Investors will be looking closely for the effect of the economic slowdown on AT&T's earnings and likely applying their analysis to the stocks of other carriers. Historically, phone companies hold up well in economic downturns, much like utility stocks. That held true as recently as the first quarter, but analysts are starting to think that the second quarter will be different. Some believe that AT&T's landline losses have sped up due to competition from cable companies and cell phones. Of course, AT&T has probably continued to grow its... [read full story]