Why AT&T Stock Was Moving Higher Today

Shares of AT (NYSE: T) were gaining today, even though there was no major news out on the stock. Instead, shares were rising along with rival Verizon (NYSE: VZ), which delivered strong earnings results this morning. AT is due to report its fourth-quarter earnings report tomorrow.

While the two companies are close competitors, they're also subject to the same industry and consumer trends, so the stocks tend to move together. As of 12:26 p.m. ET, Verizon stock was up 5.5%, while AT gained 2.3%.

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Source Fool.com