Seeking Alpha

Seeking Alpha Portfolio App for iPad

13,713 people get S articles and Market Currents by email alert.

Get email alerts on S »

S

Sprint Nextel Corporation

6/19/2013, 9:07 PM ET

Quote & Headlines Market Currents StockTalk

All
| Earnings
| Dividends
| M&A
| On the move

Wednesday, June 19, 2:42 PM Aside from Linn Energy (LINE +6%) (earlier), SandRidge Energy (SD +3.2%) also enjoys a sustained rise from Lee Cooperman's CNBC comments. He thinks SD's assets are worth close to $10/share and expects management changes in the coming weeks. The full list of stocks Cooperman likes (video): TCRD, ESRX, HAL, RIG, QCOM, MSI, CIM, S, DISH, ARP. 1 Comment [Quick Ideas, On the Move]
Wednesday, June 19, 9:56 AM 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. 1 Comment [Tech, On the Move]
Tuesday, June 18, 7:31 PM Dish (DISH) is all but officially abandoning its bid for Sprint (S). In a fresh update, the satellite TV provider says the revised SoftBank (SFTBF.PK) deal makes it "impracticable" for it to submit a new offer by Sprint's June 18 deadline, and that it will now focus its "efforts and resources" on the Clearwire (CLWR) tender offer. It increasingly looks as if SoftBank will end up with Sprint (vote on June 25), and Dish with a big minority stake in Clearwire that it could use to obtain a 4G network/spectrum deal with the 3 other parties in this saga. S -1.8% AH. CLWR +1.8%. (previous) 16 Comments [Tech, M&A]
Monday, June 17, 8:28 PM Sprint (S) files suit to end Dish's (DISH) $4.40/share tender offer for Clearwire (CLWR), alleging the deal (endorsed by Clearwire last week) violates Delaware law and the rights of Sprint and other "strategic" Clearwire investors. Among other things, Sprint claims the Dish offer can't be concluded without the approval of both Comcast and Clearwire shareholders owning at least 75% of shares (Sprint has a majority stake). Clearwire investors aren't bothered, shares +0.4% AH to $4.65. (previous: I, II) 3 Comments [Tech, M&A]
Monday, June 17, 4:03 PM Sprint (S -1.6%) adds 22 markets to its 4G LTE network, including Miami, New Orleans, and Tampa, increasing the network's total reach to 110 markets. The carrier expects the network to cover 200M people; AT&T (T) is looking to cover 250M by year's end, and Verizon (VZ), which already covers 90% of the U.S. population (~280M people), has said it will finish its LTE buildout by mid-2013, after which it will turn its attention to improving capacity. Comment! [Tech]
Friday, June 14, 1:49 PM Pres. Obama gives his support to a plan to allow large chunks of government-owned spectrum good for mobile (1700 and 1800 MHz. bands) and Wi-Fi (5 GHz. bands) use to be shared by federal agencies and U.S. carriers. The feds would get priority, but carriers could use the spectrum at other times. The NTIA has been given 6 months to come up with tests to guarantee feasibility. Comcast (CMCSA), which is hungry for more Wi-Fi spectrum, is applauding the move, but mobile carriers (VZ, T, S) haven't been crazy about the idea, arguing the logistics will be tough. Could they also be worried about the spectrum enabling competition? (fact sheet - .pdf) 2 Comments [Tech]
Friday, June 14, 11:21 AM T-Mobile USA (TMUS +3.3%) is "Plan B" for SoftBank (SFTBF.PK) if its merger with Sprint (S +0.3%) doesn't go through, says CEO Masayoshi Son. But Son adds he "[plans] to go with Plan A if possible." Reuters reported last week SoftBank is talking with Deutsche Telekom (DTEGY.PK) about buying its 74% stake in T-Mobile USA if the Sprint merger fails thanks to a rival bid from Dish (DISH). For now, Sprint's board (unlike Clearwire's) is spurning Dish. As always, Son isn't lacking for confidence. "I am determined to be No. 1 in the world very soon in my industry ... You are lucky not to be my competitor." 3 Comments [Tech, M&A, On the Move]
Wednesday, June 12, 5:54 PM Clearwire (CLWR) officially endorses Dish's (DISH) $4.40/share tender offer, calling it in the "best interest of Class A stockholders." Clearwire's special committee now unanimously opposes Sprint's (S) $3.40/share buyout offer, and the company has rescheduled a shareholder vote on the Sprint deal set for Thursday to June 24. Dish's offer, which is subject to 25% of Clearwire shares being tendered, is now good until July 2. Even if Sprint's merger with SoftBank (SFTBF.PK) goes through, Dish's possession of a large minority stake in Clearwire gives it leverage to strike a favorable 4G network deal. (WSJ report) 9 Comments [Tech, M&A]
Wednesday, June 12, 3:50 PM Clearwire's (CLWR +0.5%) board plans to endorse Dish's (DISH -3.9%) $4.40/share tender offer and postpone a Thursday shareholder vote on majority owner Sprint's (S -0.1%) $3.40/share buyout offer, the WSJ reports. The reports comes two days after Sprint gave its support to SoftBank's (SFTBF.PK) revised offer for the company, and set a June 18 deadline for Dish to make its final offer. Sprint and Dish have been arguing over the legality (I, II) of Dish's bid for Clearwire. (previous) 1 Comment [Tech, M&A, On the Move]
Wednesday, June 12, 2:40 AM Institutional Shareholder Services has recommended that Sprint's (S) shareholders back SoftBank's (SFTBF.PK) latest $21.6B offer for 78% of the U.S. carrier. The proxy advisory firm also supported the Japanese company's $20.1B offer for 70% of Sprint. ISS ascribed its latest recommendation to the lack of other "firm competing bids" and improved terms. Dish (DISH) might have something to say about the first point, while Janco's Gerard Hallaren would disagree with the latter. Comment! [Tech, Consumer]
Tuesday, June 11, 1:59 PM More on Sprint: Bloomberg reports talks between Sprint (S +2.2%) and Dish (DISH +0.7%) stalled over Sprint's insistence on a $3B termination fee should regulators block a merger. Dish reportedly was only willing to pay a $1B fee. Sprint then presumably turned to SoftBank (SFTBF.PK). Comment! [Tech, M&A]
Tuesday, June 11, 1:16 PM Though it gives shareholders more cash, SoftBank's (SFTBF.PK) offer (I, II) for a 78% stake in Sprint (S +2.2%) values the company at $1.1B less ($27.8B vs. $28.9B) than its old offer for a 70% stake, says Janco's Gerard Hallaren. "We have little faith this proposal will succeed," he adds. However, the WSJ observes the offer "contains poison-pill provisions that make it considerably harder" for Dish (DISH +0.6%) to thwart SoftBank, and increases Sprint's termination fee to $800M from $600M. Dish, which has reportedly lined up $9B in financing commitments, has until June 18 to make its final offer. Sprint and Clearwire (CLWR +2.2%) are both up moderately. 2 Comments [Tech, M&A]
Tuesday, June 11, 1:18 AM Dish (DISH) responds to SoftBank's (SFTBF.PK) higher offer for Sprint (S) simply by stating it will review its options. Paulson & Co. (7%+ stake in Sprint) backs SoftBank's revised bid, which goes to a vote on June 25. The new offer increases the cash given to Sprint investors to $5.50/share from $4.02/share, raises SoftBank's offer price for investor shares to $7.65 from $7.30, and raises the price of SoftBank's $1.9B investment in Sprint to $6.25/share from $5.25/share. But it also gives SoftBank a 78% stake (up from 70%), and $3B of the extra $4.5B in investor cash is being diverted from Sprint. Clearwire (CLWR) remains a wild card for both sides. 2 Comments [Tech, M&A]
Monday, June 10, 10:19 PM The new day in Japan has brought a new offer from SoftBank for Sprint (S), with the Japanese carrier increasing its bid to $21.6B from $20.1B. SoftBank's latest offer would also mean $4.5B more cash for shareholders and would give the Japanese carrier 78% of Sprint. The proposal compares with Dish's (DISH) bid of $25.5B. Shareholders were due to vote Wednesday but because of today's gamesmanship the vote has reportedly been postponed. 10 Comments [M&A, Breaking News, Tech, Consumer]
Monday, June 10, 1:35 PM Dish's (DISH -1.1%) offer for Sprint (S -0.3%) amounts to a "formal proposal," and the companies "continue to meet regularly and conduct the due diligence process that began in late May." Thus speaks Charlie Ergen's company in a terse PR meant to assure Sprint investors it's still working on a deal ahead of a June 12 shareholder vote on the SoftBank (SFTBF.PK) merger. Expectations are growing the vote will be postponed, as the various parties in this corporate soap opera continue to maneuver. (previous) Comment! [Tech, M&A]
Friday, June 7, 3:54 PM While Sprint (S -1.3%) slumps on a report SoftBank (SFTBF.PK) is talking with Deutsche Telekom (DTEGY.PK) about buying its 74% stake in T-Mobile USA (TMUS +4.1%) should the Sprint deal falter, Dish (DISH +1.5%) has spiked higher, as investors take the report as a sign SoftBank would rather abandon its Sprint efforts than significantly raise its bid. Sources tell Reuters SoftBank and DT have been talking since last year, but that talks "intensified" following Dish's $25.5B offer for Sprint. Clearwire (CLWR +3.3%) has also moved higher, and is now $0.02 above Dish's $4.40/share offer price. (previous) 9 Comments [Tech, On the Move, M&A]

1
2
3
4
5
6
...
53
Next Page