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AT&amp;T is the top gainer among S&amp;P 500 stocks in a premarket painted red Wednesday, with the telecom giant’s shares surging over 3% to $18.78. But the retail trading segment isn’t quite vibing with the overall market.The company’s Q2 earnings report, which revealed a better-than-expected addition of 419,000 monthly bill-paying wireless phone subscribers, is driving much of the optimism. This marks a significant turnaround for AT&amp;T, as it's the first year-over-year increase in subscribers in eight quarters, as per <a href="https://www.bloomberg.com/news/articles/2024-07-24/at-t-mobile-phone-subscribers-surge-in-response-to-promotions">Bloomberg</a>.The company’s churn rate, a measure of customer cancellations, also declined to 0.70%, indicating improved customer retention. A marketing strategy offering identical promotions to both new and existing customers appears to be paying off, with nearly 40% of high-speed fiber customers opting for wireless phone services.AT&amp;T’s free cash flow increased by over 9% to $4.60 billion, a positive sign for dividend-seeking investors.<figure class="image"><img style="aspect-ratio:1324/310;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/AT_and_T_Retail_Sentiment_Score_Premarket_Jul_24_3340403233.png" alt="AT&amp;T Retail Sentiment Score Premarket Jul 24.png" width="1324" height="310"><figcaption>AT&amp;T Retail Sentiment Score Premarket Jul 24</figcaption></figure>While these figures are undoubtedly positive, they haven't entirely convinced retail investors. Sentiment on Stocktwits is neutral (53/100) as concerns over other metrics have tempered enthusiasm.<figure class="image"><img style="aspect-ratio:1320/442;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Bullish_posts_on_AT_and_T_Stocktwits_stream_Jul_24_3608301d2b.png" alt="Bullish posts on AT&amp;T Stocktwits stream Jul 24.png" width="1320" height="442"><figcaption>Bullish posts on AT&amp;T Stocktwits stream Jul 24</figcaption></figure>For instance, both AT&amp;T and its larger rival, <a href="https://stocktwits.com/news/markets/equity/why-retail-loves-verizon-despite-q2-revenue-miss/c7rTlTJRM">Verizon</a>, missed revenue estimates due to slower smartphone upgrade cycles, according to Reuters. This trend has been a persistent headwind for the industry.However, the company's operational track record marred by significant data breaches and a nationwide outage in February that impacted millions of voice calls and thousands of attempts to reach 911, raises concerns. The FCC is currently investigating the outage and could impose a hefty fine.AT&amp;T's subscriber growth is a commendable achievement, but retail investors feel it’s not yet enough to completely offset the challenges the company faces. The road ahead is likely to be bumpy as the company navigates a competitive market, operational hurdles, and regulatory scrutiny.<a href="https://commons.wikimedia.org/wiki/File:New_AT%26T_Logo_in_Dallas,_TX.jpeg">Photo</a> via Wikimedia Commons

What's Retail Feeling About The Top S&P 500 Gainer Premarket Today?

While the broader market is cheering AT&T’s better-than-expected wireless subscriber additions, retail remains concerned about the revenue miss and other potential headwinds.

Equity

GM’s second quarter earnings saw two things happen simultaneously that drew retail interest toward the stock and pushed Stocktwits sentiment toward an extreme. The firm topped Wall Street expectations on multiple metrics and also raised its forecast for the year.The automaker reported a revenue of $47.97 billion during the quarter, higher than a Street estimate of $45.46 billion. Adjusted earnings per share (EPS) came in at $3.06, beating an estimate of $2.75. GM’s revenue was 7.20% higher on a year-over-year (YoY) basis while its EPS was up over 60%.Following the announcement, shares of the company were trading over 4% higher on Tuesday morning in the pre-market session. Retail sentiment entered extremely bullish territory (79/100) from a previously neutral zone, supported by high message volume.<figure class="image"><img style="aspect-ratio:790/231;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_23_at_9_21_48_AM_26e9fe7e16.png" alt="Retail sentiment trends in extremely bullish territory for GM" width="790" height="231"><figcaption>Retail sentiment trends in extremely bullish territory for GM</figcaption></figure>As far its 2024 guidance is concerned, the firm now expects to post an adjusted diluted EPS of $9.50-$10.50 as compared to an earlier guidance of $9-$10. GM said it expects adjusted earnings before interest and tax to come in at $13 billion-$15 billion compared to an earlier guidance of $12.50 billion-$14.50 billion. Adjusted automotive free cash flow is expected at $9.5 billion-$11.50 billion as compared to previous guidance of $8.50 billion-$10.50 billion.Only the net income guidance figure saw a minor downward correction with the firm estimating the metric between $10 billion-$11.40 billion as compared to an earlier guidance of $10.10 billion-$11.50 billion. Notably, the firm’s China operations recorded an equity loss of $104 million.Meanwhile, the automaker has decided to indefinitely delay the production of its Cruise Origin autonomous vehicle. GM CEO Mary Barra said in a letter to shareholders that the Cruise team will simplify their path to scale by focusing their next autonomous vehicle on the next-generation Chevrolet Bolt, instead of the Origin. “This addresses the regulatory uncertainty we faced with the Origin because of its unique design. In addition, per-unit costs will be much lower, which will help Cruise optimize its resources,” she said.Bank of America analyst John Murphy has raised the price target on the stock to $85 from $75 while maintaining a ‘Buy’ rating. Given that the stock is currently trading below the $50 mark, the price target leaves an upside potential of over 71% for the stock.

Retail Investors Go Crazy Over GM Stock After Solid Q2 Earnings, Guidance: But That’s Not All

Automaker GM reported a revenue of $47.97 billion during the quarter, higher than a Street estimate of $45.46 billion.

GM Stock Drew Retail Interest after Q2 earnings

The automaker has decided to indefinitely delay the production of its Cruise Origin autonomous vehicle. The Cruise team will simplify their path to scale by focusing their next autonomous vehicle on the next-generation Chevrolet Bolt, instead of the Origin.

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