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Macquarie's Kevin Smithen downgrades Sprint (S -3.5%) to Neutral after Dish decides to pass on...

Jun. 19, 2013 9:56 AM ETSprint Corporation (S) StockSBy: Eric Jhonsa, SA News Editor1 Comment
Macquarie's Kevin Smithen downgrades Sprint (S -3.5%) to Neutral after Dish decides to pass on making a new bid for the #3 U.S. mobile carrier before a Tuesday deadline. In addition to the lack of a counterbid, Smithen is worried about the unresolved battle over Clearwire, and the fact Sprint is about to enter a period of heavy spending and negative free cash flow.

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