Market Currents

• Tuesday, December 1, 2009

• 11:13 AM UBS lifts Clearwire (CLWR) to Neutral from Sell and doubles its price target to $6, largely due to its successful capital raise which "eliminates the funding risk while likely getting Clearwire running in additional markets sooner than expected." CLWR +6.8% to $6.05. Comment!

• Wednesday, November 25, 2009

• 14:33 PM Clearwire (CLWR +5%) gathers another $920M in financing for a recent total of $2.8B, more than enough to reach its goal of providing 120M people with wireless 4G Internet by the end of next year. The funding adds fuel to an ambitious bet on WiMAX by Clearwire backers Sprint Nextel (S), Google (GOOG), Intel (INTC), Comcast (CMCSA), Time Warner (TWX) and others. Comment!

• Friday, November 20, 2009

• 08:20 AM Deutsche Telekom (DT) is reportedly seeking a partner for T-Mobile, one that could help it finance investments in networks with fast data transfers. MetroPCS (PCS), Clearwire (CLWR) and AT&T (T) are all potential candidates, but the company might also look for a purely financial investor from outside the sector. 1 Comment

• Tuesday, November 10, 2009

• 16:13 PM Clearwire (CLWR): Q3 EPS of -$0.43. OIBDA of -$198.8M. Revenue of $69M (+13%) vs. $67M. Revenue comparison to Sprint's WiMAX business in prior year. Shares -1.5% AH. (PR) 1 Comment
• 09:58 AM Clearwire (CLWR +1.4%) confirms it's raising another $1.5B. Sprint Nextel (S) will put up $1.18B; Comcast (CMCSA) $196M. Time Warner Cable (TWC) $103M. Intel (INTC) $50M. Eagle River $20M. And Bright House Networks $19M. Google (GOOG), also a key JV partner, took a pass. Clearwire will also sell $1.45B in senior secured notes to pay off an existing facility. Comment!
• 00:10 AM Notable postmarket earnings: AONE, ATO, CLWR, PAAS Comment!

• Monday, November 9, 2009

• 15:46 PM Sprint Nextel (S) - up 17.5% after earlier news of its additional investment into Clearwire (CLWR) - announces fourth-quarter cuts of 2,000-2,500 jobs, to save an annualized $350M in labor. 1 Comment
• 08:54 AM Sources say Sprint Nextel (S) and a number of its Clearwire JV (CLWR +6.9%) partners are preparing to pump another $1.5B or more into the wireless broadband provider. $1B of a new infusion would come from Sprint, with Comcast (CMCSA), Intel (INTC), Time Warner Cable (TWC) and Bright House Networks kicking in another $500M. Google (GOOG), a key JV partner, isn't thought to be involved in this round. Comment!

• Tuesday, August 11, 2009

• 16:12 PM Clearwire (CLWR): Q2 EPS of -$0.38 beats by $0.01. Revenue of $64M (+9%) vs. $65M. Total subscribers up to 511,000 from year-ago 461,000. Shares +0.6% AH. (PR) 1 Comment
• 00:05 AM Notable earnings after Tuesday's close: AMAT, CLWR, CREE, PAAS Comment!

• Tuesday, June 16, 2009

• 12:58 PM Alvarion (ALVR) +10.8% after Hebrew-language reports the company won a $90-100M WiMAX contract with Clearwire (CLWR). Alvarion had no comment on the reports, but an analyst who spoke to the company says he was told "it would have issued a press release if it had signed a major contract." Comment!

• Wednesday, May 13, 2009

• 16:26 PM Clearwire (CLWR): Q1 EPS of $0.38 misses by $0.07. Revenue of $62.1M (+20.6%) vs. $62.6M. Maintains business outlook for 2009-10. Shares +2.2% AH. (PR) Comment!

• Thursday, March 5, 2009

• 16:10 PM Clearwire (CLWR): Q4 EPS of -$0.28 vs. consensus of -$0.71. Revenue of $59.7M (+31.6%) vs. $60M. Shares -2.3% AH. (PR) Comment!

• Monday, November 10, 2008

• 11:04 AM Clearwire (CLWR): Q3 EPS of -$1.01 misses by $0.01. Revenue of $60.8M (+473.%) vs. $55.5M. Shares -3%. (PR) Comment!

• Tuesday, November 4, 2008

• 16:47 PM The FCC approves Sprint's (S) acquisition of Clearwire (CLWR), a merger considered critical to Sprint's survival in the wireless market. The Justice Department must still sign off on the deal. Afterhours S +5.8%, CLWR +6.1%. Comment!

• Thursday, August 7, 2008

• 16:09 PM Clearwire (CLWR): Q2 EPS of -$1.21 misses by $0.20. Revenue of $58.6M (+65.1%) vs. $54.2M. [PR] Comment!