John Stankey can now set his own agenda without interference. Terrible news that Elliot sold their position. The Board of Directors will appoint some lackey as Exec Chairman and both that person and JS will be in power forever!!!
There is no hope of any lasting change.
Bill Morrow is still there last time I looked as a direct report to Stankey. He was appointed by elliiot management.
Please for the love of God, stop calling Elliott "he". It makes you appear so glaringly dimwitted.
The company name is based off of Paul Singer's middle name.
Paul Elliott Singer (born August 22, 1944) is an American billionaire hedge fund manager, activist, investor, vulture capitalist, and philanthropist. His hedge fund, Elliott Management Corporation (EMC)—specializes in distressed debt acquisitions.
https://whalewisdom.com/stock/t
the analysis, represent a loss of 23% aggregate when AT&T rallies after Paul Singer’s Elliott Management $3.2 billion of AT&T stock and says the company could be worth at least $60 per share...... that's right SIXTY. LOL
On Sep 9, 2019 he purchase $3.2 billion of T stock @ $34.59 = 92,512,287 Stock
On Jun 30 2020 sold his entire position @ $29.57 =2,735,588,320.3
=$-464,411,679.6 loss
3,200,000. The construction also works with 9.23 (9,230,000) and 9.234 (9, 234,000) If the answer was 3.2 billion, it would be written as 3,200,000,000
ELLINGTON MANAGEMENT GROUP LLC(PUT)
ELLIOTT INVESTMENT MANAGEMENT L.P.(CALL)
ELLIOTT INVESTMENT MANAGEMENT L.P.
5,000,000 $151,150,000 1.64 2.70 14 0.0702% 13F 2020-06-30 2020-08-14 Q3 2019
as of 6/30 here are his Top Buys
Name% Change
QQQ (PUT) Invesco QQQ Trust S... 24.281%
VNQ (CALL) Vanguard Real Estat... 2.99%
FB (PUT) Facebook Inc 2.47%
WELL Welltower Inc 2.003%
IBB (PUT) iShares Nasdaq Biot... 1.673%
Here are his top sales:
LQD iShares iBoxx Inves... 7.891%
HYG (CALL) iShares iBoxx $ Hig... 5.714%
T (CALL) AT&T Inc. (Southwes... 5.673%
DELL (CALL) Dell Technologies Inc 2.81%
XLE (CALL) SPDR Energy Select ... 2.744%
Please for the love of God, stop calling Elliott "he". It makes you appear so glaringly dimwitted.
5 into 195 is roughly 39 dollars a share buy price and today the price is 29 dollars a share.
wow - they must of just gotten sick of their money rotting away and doing better things with it now lol.
can't blame them att is a nothing burger and the fat cats will just continue feeding off the dividend till the company is dead. just like a kid at the end of a chocolate conveyor belt with his mouth open the fat cats are just shoving the dividend any place they can.
"didn't elliot buy his shares at a higher price? why would he sell so low. weird"
It's called cutting your losses. T is dead in the water.
Things are going to get worse before they get better. The more Elliot learned about the company, the clearer that was. They've fallen to third in the one sector that was making them money and have shown they don't know what to do with the media division, not to mention the walking corpse of DirecTV.
Elliott staying would never be a win for employees. Anyone that thinks so is off their rocker. Elliott was and is about making quick money, not saving companies.
@1gpt Elliot go away!
You guys really are stupid.
didn't elliot buy his shares at a higher price? why would he sell so low. weird
Classic pump and dump, and the result is 3 year plan to cut more cost. No company ever got successful by cutting cost. This is where the awesome leadership is leading us, despite all the big talk about 5G, Fiber, industry leading this and that, anemic topline growth and more job losses.
Ummm.I think the whole thing was arranged, Randall paid Elliot to do his thing, in order to keep his lover boy Stankey head,
Randall retired, and elliot gets paid. the perfect xxxcam