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AT&T turned in a decent fourth-quarter performance, despite being dogged by costs. Nonetheless, the weak economy will blunt the telecom firm's chances of any meaningful growth for the foreseeable future, and it still hasn't figured out how to counteract the loss in sales from those pesky landline defections.

All told, AT&T recorded a 22.6% earnings slide from the previous year's corresponding quarter, to $2.4 billion, or 41 cents per share, from $3.1 billion, or 51 cents per share. Excluding special items, earnings totaled 64 cents per share.

Between October and November 2008, AT&T (nyse: T - news - people ) beat expectations by adding 2.1 million wireless subscribers, largely because of its being the exclusive official carrier of the popular Apple (nasdaq: AAPL - news - people ) iPhone in the United States. So, yes, AT&T registered a strong quarter, but times are tough.

Though its wireless sales grew 13.2%, its landline sales 3.3%. Unlike Verizon (nyse: VZ - news - people ), AT&T still hasn't been able to quell sliding sales in the segment by selling broadband and TV services.

The San Antonio-based telecom operator expects sales to grow in the low single digit percentages. In a sign of the times, though, it also expects to cut capital spending by 10% to 15%, from the $19.7 billion it invested in 2008. That will hurt equipment vendors like Ciena (nasdaq: CIEN - news - people ) and Alcatel-Lucent (nyse: ALU - news - people ) since AT&T represents a third of spending on telecoms gear.

As in the case of Verizon, the upheaval in the financial markets is forcing AT&T to fill funding gaps. It announced Wednesday that its 2009 earnings will take a 19 cent per share hit owing to pension and retiree benefit costs. Excluding that cost, though, it expects margins to remain stable.

Everything you need to know to make sure you get a signal after Feb. 17.

In Pictures: 10 Tips For Switching To Digital TV

At the stroke of midnight on Feb. 17, 2009, the analog transmissions that have beamed free television over the air in the United States for over half a century will disappear for good. They will be replaced by digital signals, many of which are already broadcasting, in what will be the most significant change to television since the introduction of color.

The "digital switchover" brings with it higher image quality, better sound and a level of versatility and flexibility previously unattainable through free television. It also brings with it a number of significant headaches, as confusion over exactly who will be affected is inspiring panic in viewers fearful of being left behind in a haze of snow and static as the rest of the country moves into the future. Many of those who will be affected know that the deadline is fast approaching, but are unsure of how to prepare for it. Thankfully, a solution is simple, easily attainable and won't cost you a dime.

There are two major reasons for the switch from analog TV broadcasts to digital TV. First, digital signals offer superior image quality and allow for the transmission of high-definition signals over the air. This means that a properly equipped HDTV can receive local high-definition broadcasts that will look about as good as what you'd get from cable or satellite television.

In Pictures: 10 Tips For Switching To Digital TV

Second, switching from analog to digital frees up real estate on the broadcast spectrum for other uses, as digital signals are more efficient and take up less bandwidth. Telecommunications companies like Verizon (nyse: VZ - news - people ) and AT&T (nyse: T - news - people ) have spent nearly $20 billion to secure the rights to the frequencies that were previously occupied by channels 52 through 69, in the hopes of using that airspace to improve their wireless communication networks.

What the digital switchover is actually doing is changing the language that TV broadcasters use to communicate with your television. Since 1941, televisions in the U.S. have utilized a set of broadcast standards laid out by the National Television System Committee. Big broadcast towers sent out information over the air using these NTSC standards and were picked up by the television antenna in your living room. Inside your TV, an NTSC tuner interpreted the information and properly displayed it on screen.

The digital switchover is introducing a new language, a new set of broadcast standards, this one designed by the Advanced Television Systems Committee. On Feb. 17, those broadcast towers are going to stop speaking NTSC permanently and start speaking ATSC. But unfortunately, your old television set doesn't know how to translate ATSC into moving pictures and sound. Just about all televisions manufactured and sold after Mar. 1, 2007 feature ATSC tuners, but if you purchased a television any earlier than that, chances are your TV won't be able to pick up over-the-air broadcasts once the switchover occurs.

The solution: A digital converter box, essentially an external ATSC tuner that sits on top of your existing television and is linked between your antenna and your TV. The ATSC signals are grabbed by the same antenna you've always used, then passed to the digital converter box that translates the ATSC signals into something your NTSC television can understand. They are easy to hook up and available at a wide variety of stores, including big box stores like Best Buy (nyse: BBY - news - people ), Wal-Mart (nyse: WMT - news - people ) and Target (nyse: TGT - news - people ), as well as online retailers.

As U.S. stocks hit new 11-year lows on Nov. 20, many investors say they just don't know what's ahead.

There's a general lack of clarity on a wide range of issues—the state of the U.S. and global economies, problems in the credit markets, the plans of the federal government, and the fate of hedge funds that are being forced to sell off assets. Unfortunately, much of the fog of the financial crisis will not be cleared up anytime soon.

However, there are several key signals that traders, strategists, and fund managers typically watch closely in times of uncertainty. Given the unprecedented environment, it's not clear if any will be a reliable guide this time, but these signals do give investors something to monitor for clues to the road ahead.

Here's a review of five of those signals and what they're saying now:

1. Technical Signals

Technical strategists analyze and predict market activity based on previous market moves. This week, the stock market failed a key test: The broad Standard & Poor's 500-stock index not only fell below its October 2008 lows, but the big-cap benchmark also blasted below its lows during the nasty bear market of 2002.

On the morning of Nov. 20, the S&P 500 briefly tested these 2002 lows in the morning but then rebounded. But late in the day, stocks sank and the S&P 500 closed at 752.44. That's below the index's October 2002 low of 768.63 and the lowest level for the index since April 1997.

The 2002 lows are "a major support level," says Dave Rovelli, equity trader at Canaccord Adams.

Richard Sparks of Schaeffer's Investment Research says "you could see a cascade of selling" if stocks stay way below those prior lows. Before stocks fell to this level, people could "feel comfortable that that is a basement that the market might not go below."

2. Reports from Washington

Michael Yoshikami of YCMNET Advisors criticizes "a general lack of clarity from the Administration [and] federal agencies on what's happening and what the path out is."

On Nov. 20, Democratic congressional leaders said they would delay a vote on a bill to help the U.S. auto industry—efforts some Republicans have opposed—until December. U.S. Treasury Secretary Henry Paulson has raised eyebrows by changing the focus of the financial package a few times. Bush Administration officials are on their way out of office, but President-elect Barack Obama hasn't yet chosen his economic team, whose members would have no real power until Jan. 20 even if they were in place.

This flow of news from Washington is rattling investors, many market watchers say. "No one really has a good idea what the plan really is," says Bruce Bittles, chief investment strategist at R.W. Baird.

Chad Deakins, portfolio manager at RidgeWorth International Equity Fund (SCIIX), says he doesn't expect any clear signals from Washington until Obama takes office. "Until the new Administration comes to the White House and sets a tone and direction, it's hard to see strong upside in the equity markets," Deakins says.