Douglas Shapiro Quotations

We regard the shares as inexpensive and believe that just placing a market multiple on its free-cash-flow a few years out yields substantial upside in the stock.

We continue to believe that DirecTV's potential purchase of the G.M. stake would be a big catalyst.

We think they have already lit a fire under management to a degree, persuading it to take several positive actions. We expect it to continue on this course. So the Icahn group may lose the battle but, if the stock goes up, it will have won the war.

We think the jury is out whether there will be any practical impact on video markets and, in any case, we don?t see any major impact anytime soon.

Besides the earnings release, we think it is possible that it will announce at that time whether or not the board has approved its $3 billion special dividend.

It's quite possible they'll do a counter-bid, but the bottom line is that AT&T may be willing to pay more. It looks like AT&T is digging in its heels.