oser’ in AT&T promo melee [telecom]

By Monica Alleven

Verizon shares were down about 2% this morning after the Wall Street investment firm MoffettNathanson downgraded the stock, saying Verizon has been the “biggest loser” in AT&T’s steady series of wireless promotions.

AT&T has been on an aggressive path of promotions for the past two years now, and over that time, AT&T has reaped the advantages of subscriber growth, but at the cost of cutting its free cash flow and dividend coverage forecasts, wrote analyst Craig Moffett in a report for investors Thursday.

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