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Sprint Corporation (S)

  • Feb. 27, 2012, 10:10 AM
    Sprint's (S -2.4%) 11th-hour decision to walk away from an $8B deal for MetroPCS (PCS -0.4%) prompts questions about its leadership and who's calling the shots. A deal "which may have cut equity holders’ stakes in half to get larger in the prepaid business seems a bit incongruent with the strategic direction,” Nomura says. As for PCS, other suitors could present themselves in the near future.
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  • Feb. 27, 2012, 9:19 AM
    Sprint (S) will raise $2B through a private placement of debt which it says will help it fund newly-acquired Clearwire. Shares are down 1.6% premarket, still influenced in part by the blowup of the MetroPCS deal.
  • Feb. 24, 2012, 6:35 PM
    More on the vetoed Sprint/MetroPCS deal: Sprint was reportedly offering a premium of 30% to MetroPCS' Wednesday close of $10.28; shares jumped on Thursday following MetroPCS' Q4 report, and closed today at $12.01. Execs at both companies expected a deal to be announced by week's end, but Sprint's board shot down the proposal on Wednesday. PCS +7.9% AH. LEAP +5%. S +0.4%.
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  • Feb. 24, 2012, 5:23 PM
    Sprint's (S) was just "hours away" from agreeing to an $8B acquisition of discount carrier MetroPCS (PCS - current market cap of $4.35B) before its board vetoed the deal, claims CNBC's David Faber. No details are given, though it's quite conceivable that MetroPCS' spectrum and 4G LTE network could interest Sprint. PCS +5.3% AH. LEAP +5%. S -0.4%.
  • Feb. 24, 2012, 10:22 AM
    Given its plans to sell its stake in Clearwire (CLWR -6.2%) for a mere $1.60/share, Google (GOOG) stands to lose $453M on its original $500M investment. Continuing to hold stakes are Intel (INTC), Comcast (CMCSA), and Time Warner Cable (TWC); the latter two could be motivated to sell on account of their recent deals with Verizon; each said in December it would stop selling Clearwire's 4G broadband service.
  • Feb. 24, 2012, 8:41 AM
    Clearwire (CLWR) -6.4% premarket after Google (GOOG) discloses its intent to sell its 6.5% stake, or ~29.4M shares, in the company to Sprint (S). (SEC filing)
  • Feb. 22, 2012, 7:01 PM
    Comcast (CMCSA) is suing Sprint (S) over the alleged infringement of patents covering wireless networking technologies. The suit comes comes 2 months after Sprint sued Comcast and other cable providers for allegedly infringing on its voice-over-IP patents. Meanwhile, Sprint, T-Mobile, and MetroPCS (PCS) are continuing their efforts to halt Verizon's (VZ) spectrum/reseller deals with cable providers.
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  • Feb. 22, 2012, 10:20 AM
    Text messaging revenues, long a cash cow for carriers, are coming under fire from the growing mobile use of Facebook (FB), Twitter, and other social networking platforms. Ovum estimates "social messaging" cost carriers $13.9B in messaging revenue in 2011, up from $8.7B in 2010. Though as Olga Kharif notes, social networking activity is driving the sale of pricey smartphone data plans.
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  • Feb. 21, 2012, 11:19 AM
    RadioShack's (RSH -7.3%) Q4 results were in line with expectations, but shares plummet after the company provides downbeat guidance on its Q1 and 2012. CEO Jim Gooch warns net income will decline this year as RSH grapples with the continued negative impact of Sprint (S) sales and a shift to sales of lower margin smartphones, such as iPhones.
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  • Feb. 17, 2012, 9:18 AM
    Clearwire (CLWR) -4% following the release of its 10-K, in which the company discloses it may eventually need to raise more capital in order to build out its 4G LTE network, though it has enough to last through the end of 2012. Though Sprint (S) appears committed to keeping Clearwire afloat, the capital might not come cheap - the company just paid a 14.75% coupon on a $300M bond offering. (Q4 results)
  • Feb. 16, 2012, 12:12 PM
    Clearwire (CLWR -6.8%), which had rallied strongly in February, is selling off after posting Q4 results, thanks to guidance for 2012 revenue of $1.15B-$1.25B (below a $1.37B consensus). Sprint's (S) strong iPhone sales (the 4S doesn't use Clearwire's network) and pending LTE rollout likely affected Clearwire's guidance - Clearwire mentioned during its earnings call that it's own LTE network won't go live until June 2013.
  • Feb. 15, 2012, 4:32 PM
    Clearwire (CLWR): Q4 EPS of -$0.81 misses by $0.46. Revenue of $361.9M (+106.6% Y/Y) beats by $6M. Shares -0.4% AH. (PR)
  • Feb. 15, 2012, 10:32 AM
    The FCC's kiss of death to LightSquared is providing a lift to Clearwire (CLWR +4.8%), whose network and spectrum are now officially indispensable to Sprint's 4G LTE rollout. In addition, Clearwire is announcing FreedomPop, an upstart carrier that plans to offer free 4G services, will be using its network in the wake of LightSquared's regulatory demise.
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  • Feb. 15, 2012, 9:05 AM
    Premarket gainers: BPAX +51%. IPAS +21%. BCRX +14%. WCG +11%. TSEM +9%. CMCSK +8%. EGLE +7%. CLWR +7%. CMCSA +6%. ANF +6%. HIG +6%. VTG +5%. TTM +4%. K +3%. BCS +3%. DANG +3%. YGE +3%. DMND +3%. MET +3%. ACAS +3%. GNOM +3%. BZH +3%. COF +3%. TEVA +3%. MLU +3%.
    Losers: VG -12%. NBG -9%. RENN -8%. NZGA -6%. OC -5%. FXCM -3%. ALU -3%.
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  • Feb. 15, 2012, 8:43 AM
    U.S. regulators pull the plug on wireless start-up LightSquared's proposal to build a new national wireless network on concerns the network would interfere with GPS devices. Sprint (S) planned to build and operate LightSquared’s network, but anticipating a rejection, has been distancing itself from the project. S +0.4% premarket.
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  • Feb. 15, 2012, 12:10 AM
    Notable earnings after Wednesday's close: A, AEM, CAR, CBS, CF, CLF, CLWR, CTL, EQIX, ETE, ETP, FRT, GG, GGC, HBI, KGC, MAR, NTAP, NTES, NVDA, OI, TEX, TRN, VMC, WFR
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Company Description
Sprint Corp is a communications company offering wireless and wireline communications products and services to individual consumers, businesses, government subscribers and resellers.