AT&T Sinks 5% Despite Q3 Beat and Raised Outlook; Verizon and T-Mobile Drop 3%

AT&T just posted a quarter that beat forecasts and lifted its profit outlook, yet its stock is getting punished harder than those of its two biggest rivals. A non-cash write-down, a satellite company circling the wireless market, and a fiber bet that may or may not hold explain why investors are not impressed.