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Why AT&T (T) and Verizon (VZ) Are Down Today

Tickers in this article: S T TMUS VZ
NEW YORK (TheStreet) -- T-Mobile US Inc. made a presentation at the 2014 Consumer Electronics Show on Wednesday night and the stocks of both Verizon Communications Inc. and AT&T Inc.  were dropping nearly 2% in afternoon trading on Thursday.

T-Mobile CEO John Lagere took the stage at CES and revealed that the company added 1.6 million subscribers in the fourth quarter of fiscal 2013 vs. a loss of 32,000 subscribers in the same quarter last year. Furthermore, Lagere addressed T-Mobile's "Uncarrier" strategy, which has no contract lock-ups, free but small data plans for tablets and more frequent mobile phone upgrades.

T-Mobile shares then spiked 1.9% on Thursday morning, but the stock was declining 0.81% to $33 in afternoon trading.

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