Rosenblatt analyst Marshall Senk noted that Synacor's (SYNC) Q4 results met guidance despite the slower than expected pace of monetization from AT&T (T). Outside of AT&T, the company's other business areas continued to show signs of improvement, said Senk, who lowered his price target on Synacor to $4.75 from $5.50 but keeps Buy rating on the stock.

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The Federal Communications Commission, or FCC, has fined AT&T (T), Sprint, T-Mobile (TMUS), and Verizon (VZ) nearly $200M for illegally sharing access to customers' location data. Regarding AT&T, the FCC says, "We decline to withdraw the Admonishment or to cancel or reduce the $57,265,625 forfeiture proposed in the NAL." Similarly, for Sprint the entity says it declines "to withdraw the Admonishment or to cancel or reduce the $12,240,000." Regarding T-Mobile, FCC declines "to withdraw the Admonishment and, having already reduced the forfeiture by $11,550,000 to account for eight entities that were each counted twice in the original forfeiture calculation, decline to further reduce or to cancel the forfeiture amount of $80,080,000." Lastly, discussing Verizon, it said it also declines "to withdraw the Admonishment and, having already reduced the forfeiture by $1,417,500 to account for two entities that did not participate in Verizon's LBS program, decline to further reduce or to cancel the forfeiture amount of $46,901,250." Reference Link

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Barclays analyst Kannan Venkateshwar upgraded AT&T to Overweight from Equal Weight with an unchanged price target of $20. The analyst says the Q1 results reinforced the structural push towards cable and telecom convergence, which may benefit telecom near term "but may not end well for either industry in the long run." The firm upgraded AT&T citing the "mismatch between valuation and improvements in growth quality and execution." Over the last couple of years, AT&T has been gradually transforming into a steadier execution story with improved visibility around strategy and cash flow, but its valuation continues to be weighed down by legacy investor perceptions, the analyst tells investors in a research note. Barclays believes this "provides a unique window of opportunity with real catalysts."