Sprint Corporation (S) - NYSE
  • Sep. 11, 2014, 11:44 AM
    • "We're implementing a culture of must-have and nice-to-have," new Sprint (S +5%) CEO Marcello Claure tells the audience (webcast) at the Goldman Communacopia Conference. "We have to focus on must-have and nice-to-have will have to go."
    • Everything is on the table, he says, and "some [managers] will make it and some won't."
    • The advice he got upon becoming CEO of a public company for the first time was not to change anything for the first 100 days, "but I just couldn't help myself," and Sprint overhauled its offerings on day 4.
    • Previously: Claure: Sprint to slash prices, cut more jobs
    | Sep. 11, 2014, 11:44 AM | 5 Comments
  • Sep. 2, 2014, 6:40 AM
    • SoftBank (OTCPK:SFTBY) says it will begin selling a humanoid robot named "Pepper", which is equipped with a laser sensor and 12 hours of battery life, at Sprint (NYSE:S) stores in the U.S. by next summer.
    • The robot was originally targeted at families and the elderly before getting attention for business use since being unveiled in June.
    • SoftBank has developed Pepper with an open platform operating system, allowing customization for use in construction, health care and entertainment industries.
    | Sep. 2, 2014, 6:40 AM | 3 Comments
  • Aug. 21, 2014, 1:31 PM
    • Three days after launching new shared data plans (along with big short-term promotions), Sprint (S +1%) has rolled out a $60/month individual plan that provides unlimited data to go with unlimited voice/text. Like the shared data plans, Sprint's offering requires users to forgo smartphone subsidies.
    • Sprint notes the individual plan is $20/month cheaper than a comparable T-Mobile (TMUS -1.1%) unlimited plan. For $60/month, T-Mobile offers individuals 3GB of data to go with unlimited voice/text. AT&T and Verizon don't offer unlimited data.
    • Meanwhile, in a PR titled "T-Mobile Urges Its Customers to Rescue Sprint Customers," T-Mobile states it will give both a new customer and an existing customer unlimited data for a year, when the latter gets the former to sign up. Those already on unlimited plans will get $10/month in credit for 12 months.
    • Sprint lost 181K core platform postpaid subs in Q2, while T-Mobile (aided by aggressive pricing and promotions) posted 908K branded postpaid net adds. Sprint shares are down 23% since reports emerged on Aug. 5 the carrier is abandoning its efforts to acquire T-Mobile.
    | Aug. 21, 2014, 1:31 PM | 5 Comments
  • Aug. 18, 2014, 7:19 PM
    • After recently promising big price cuts, Sprint (NYSE:S) has launched Family Share Packs, a pricing scheme that bears a strong resemblance to AT&T and Verizon's subsidy-free shared data plans. Unlike regular Framily plans, there's no drop in per-line charges upon adding new members.
    • Sprint argues its pricing sharply undercuts rivals. For example, a family sharing 20GB between four lines would pay $160/month, less than the $210/month charged by AT&T and Verizon for similar plans, and the $180/month charged by T-Mobile (NYSE:TMUS) for a plan featuring 5GB/line for four lines.
    • However, Sprint fails to undercut T-Mobile among families requiring less data. With Sprint charging an extra $10/month per line to those buying a bucket smaller than 20GB, an 8GB bucket costs $170/month to a family of four, and a 4GB bucket $140/month. By contrast, a $140/month T-Mobile plan provides 12GB (3GB/line) to a family of four.
    • At the same time, Sprint is following T-Mobile's lead in offering aggressive short-term promotions: Until the end of September, the carrier is waiving $15/month access line charges through 2015 for families buying plans with 20GB or larger buckets, and is also throwing in an extra 2GB/line.
    | Aug. 18, 2014, 7:19 PM | 9 Comments
  • Aug. 14, 2014, 6:45 PM
    • With a T-Mobile deal off the table, new Sprint (S -1.9%) CEO Marcelo Claure has told employees the carrier will introduce "very disruptive" prices next week. SoftBank's Masayoshi Son suggested last week price cuts were on tap.
    • Claure: "We're going to change our plans to make sure they are simple and attractive and make sure every customer in America thinks twice about signing up to a competitor ... When your network is behind, unfortunately you have to compete on value and price."
    • The ex-Brightstar CEO admitted (among other things) Sprint's 4G buildout took too long, that social media chatter about the company is mostly negative, and that Sprint didn't react quickly enough to moves from rivals (read: T-Mobile).
    • He promises to use Sprint's huge spectrum assets (skewed towards higher frequency bands) to improve network quality, and to have the industry's lowest cost structure. Claure admits the latter will result in new job cuts, but says he isn't sure of their scope.
    | Aug. 14, 2014, 6:45 PM | 8 Comments
  • Aug. 8, 2014, 11:10 AM
    • "Price competition will intensify ... Sprint (S -4.4%) will soon be ready to join the fray," says SoftBank's (OTCPK:SFTBF) Masayoshi Son following the end of Sprint's bid to acquire T-Mobile.
    • Son notes SoftBank used aggressive pricing and marketing to gain Japanese mobile share following the acquisition of Vodafone's struggling Japanese unit - "We had nothing we could be proud of ... But we were still able to win more net users than anyone else." - and mentions Sprint is testing new service plans (previous).
    • T-Mobile, of course, is already quite aggressive with its pricing, and AT&T had made sizable price cuts of its own in response. Verizon is refusing to return fire for now.
    • Sprint is now down 23% since reports emerged it's giving up on trying to buy T-Mobile for the time being.
    | Aug. 8, 2014, 11:10 AM | 3 Comments
  • Aug. 6, 2014, 12:45 PM
    | Aug. 6, 2014, 12:45 PM
  • Aug. 6, 2014, 9:22 AM
    • Sprint (NYSE:S) has confirmed reports CEO Dan Hesse is leaving, and will be replaced by Marcelo Claure, founder/CEO of of mobile hardware distributor Brighstar.
    • Claure, 43, is already a member of Sprint's board. He'll be resigning from Brighstar, and SoftBank (OTCPK:SFTBF) will acquire his remaining interest in the company. Bloomberg states Hesse may receive a $40M+ severance package.
    • Shares are off sharply premarket due to widespread reports Sprint is ending its bid (for now) to acquire T-Mobile on account of regulatory opposition, as investors fear the carrier will continue bleeding share to T-Mobile, Verizon, and AT&T as an independent entity.
    • More on Sprint/T-Mobile
    | Aug. 6, 2014, 9:22 AM | 10 Comments
  • Aug. 6, 2014, 9:14 AM
    | Aug. 6, 2014, 9:14 AM | 2 Comments
  • Aug. 5, 2014, 7:14 PM
    • Bloomberg joins the WSJ in reporting Sprint (NYSE:S) is abandoning its T-Mobile USA bid. The news service adds Sprint plans to name a new CEO as soon as tomorrow.
    • Dan Hesse has been Sprint's CEO since 2007. But with a T-Mobile deal apparently off the table and Sprint continuing to lose share to rivals, SoftBank's (OTCPK:SFTBF) Masayoshi Son may feel new leadership is needed.
    • S -4.5% AH
    • Update: Re/code reports Marcelo Claure, founder of mobile hardware distributor Brightstar, will be named Sprint's CEO. Shares finished AH trading down 15.1% on the T-Mobile news.
    | Aug. 5, 2014, 7:14 PM | 16 Comments
  • Aug. 5, 2014, 6:58 PM
    • The WSJ reports Sprint (NYSE:S) is abandoning its bid to acquire T-Mobile USA (NYSE:TMUS) due to excessive regulatory hurdles.
    • There were already many doubts about the ability of a Sprint/T-Mobile deal to pass muster with regulators.
    • If Sprint is out of the picture, the coast is clear for Iliad (OTC:ILIAF) to pursue T-Mobile, provided financing isn't an issue. There were multiple reports earlier today indicating T-Mobile is rejecting Iliad's initial $33/share offer for a 56.6% stake.
    • TMUS -5.6% AH
    • Related tickers: OTCQX:DTEGY, OTCPK:SFTBF
    | Aug. 5, 2014, 6:58 PM | 14 Comments
  • Aug. 5, 2014, 3:59 PM
    • The WSJ reports T-Mobile USA (TMUS +0.8%) has rejected Iliad's (OTC:ILIAF) request for access to its books, and won't change its mind in the absence of a better bid. The FT reports a formal rejection of Iliad's $33/share offer for a 56.6% stake in T-Mobile could arrive tomorrow.
    • As it is, Deutsche Telekom (OTCQX:DTEGY) was reported to have liked Sprint's (S -1.4%) offer better. Sprint and parent SoftBank (OTCPK:SFTBF) are rumored to be offering ~$40/share, but their bid also carries much more regulatory risk.
    • Reuters reports Iliad is talking with investors for help in sweetening its offer. Sources state the carrier has engaged pay-TV providers Dish , Cox, and Charter, as well as infrastructure, pension, and sovereign wealth funds.
    • The news service adds DT is (not surprisingly) skeptical about Iliad's claim a merger between a French carrier and a U.S. carrier will yield $10B in synergies.
    | Aug. 5, 2014, 3:59 PM | 4 Comments
  • Aug. 1, 2014, 4:20 PM
    • "If two of the largest companies are able to bid as one combined entity in the auction, their combined resources may have the effect of suppressing meaningful competition," says the FCC in a blog post. The post outlines a proposal by chairman Tom Wheeler that bars carriers from jointly bidding in next year's huge low-frequency spectrum auctions.
    • The WSJ reported two weeks ago Sprint (S +1.4%) and T-Mobile (TMUS +1.4%), each of whom have a dearth of low-frequency spectrum relative to AT&T and Verizon, plan to form a JV that would raise $10B to jointly bid in the auction. The funds would be obtained through a $45B financing package SoftBank is lining up for a Sprint/T-Mobile merger.
    • "It’s certainly a hint that they are predisposed against a merger," says analyst Craig Moffett about the FCC's stance. Prospective T-Mobile acquirer Iliad (OTC:ILIAF) must be pleased.
    | Aug. 1, 2014, 4:20 PM | 13 Comments
  • Aug. 1, 2014, 4:08 AM
    • France's Iliad (OTC:ILIAF) says it has obtained financing for its $15B bid for 56.6% of T-Mobile USA (NYSE:TMUS) from BNP Paribas and HSBC, Reuters reports.
    • Lazard is advising Iliad on the potential transaction.
    • TMUS +1.6% AH
    | Aug. 1, 2014, 4:08 AM | 5 Comments
  • Jul. 31, 2014, 3:58 PM
    • Sources tell Bloomberg T-Mobile USA (TMUS +6.7%) parent Deutsche Telekom (OTCQX:DTEGY) views Iliad's (OTC:ILIAF) $33/share offer for a 56.6% stake in T-Mobile as less competitive than Sprint's (S -5.9%) bid, previously reported to be around $40/share.
    • Though Iliad declares its bid values the T-Mobile shares it won't own at $40.50, that figure includes $10B worth of synergies the French carrier predicts a merger will yield. Sprint and SoftBank (OTCPK:SFTBF), of course, predict their offer would also yield major synergies.
    • "Iliad is about a third of the size of T-Mobile US, and we don't think there would be synergies from the deal," says analyst Jonathan Chaplin. He adds a deal will be tough to finance without Iliad founder/majority shareholder Xavier Neil surrendering control.
    • Nonetheless, T-Mobile has rallied to $33 on news of Iliad's bid, which is bound to face less FCC/DOJ scrutiny if accepted and successfully financed.
    • The offer is overshadowing a solid Q2 report from T-Mobile. The carrier saw 1.5M net customer adds in Q2 (up from 1.3M in Q1), slightly more than Verizon's Q2 adds and well above AT&T and Sprint's. Branded postpaid net adds totaled 908K (579K phone adds), and branded prepaid net adds 102K. Service revenue rose 7.1% Y/Y.
    | Jul. 31, 2014, 3:58 PM | 3 Comments
  • Jul. 31, 2014, 1:02 PM
    • France's Iliad (OTC:ILIAF) is offering $15B in cash for a 56.6% stake in T-Mobile USA (TMUS +7.3%) at a price of $33/share. Iliad values the remaining 43.4% at $40.50/share. Sprint (S -5.3%) has been reported to be planning a ~$40/share deal.
    • Iliad says it has obtained financing from unnamed banks, and would also do a capital raise to help pay for the deal. One issue: Iliad has a current market cap of just $16B, less than T-Mobile's $24.8B and Sprint's $30.6B. Sprint has reportedly lined up a $40B+ debt package to finance a T-Mobile deal.
    • A source tells the WSJ Iliad, which has upended the French mobile market with its aggressive pricing, views a T-Mobile merger as a "one-time opportunity to enter the world's-largest telecoms market."
    • Iliad also thinks (perhaps with good reason, given FCC/DOJ remarks) regulators will be more comfortable with its bid than Sprint's, since Iliad has no U.S. presence.
    • AT&T (T -2%) and Verizon (VZ -2.3%) have joined Sprint in selling off, as investors mull the possibility of a deal that would leave the number of nationwide U.S. carriers at 4. Concerns about Iliad's pricing history might also be weighing on shares.
    • Related tickers: OTCPK:SFTBF, OTCQX:DTEGY
    • Earlier: Iliad reportedly bids for T-Mobile USA
    | Jul. 31, 2014, 1:02 PM | 13 Comments
Company Description
Sprint Corp. operates as a communication company, which offers a comprehensive range of wireless and wire line communications products and services to consumers, businesses and government users. The company operates through two segments: Wireless and Wireline. The Wireless segment offers... More
Sector: Technology
Industry: Wireless Communications
Country: United States