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Sprint Corporation (S)

- NYSE
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  • Nov. 4, 2011, 11:48 AM
    Clearwire (CLWR +12.1%) shares rocket higher after Sprint (S +2.5%) says it may use proceeds from an offering of seven- and 10-year notes to help finance its unprofitable partner. Sprint also says it could use proceeds to pay back existing debt or fund its network upgrade, but the company has previously refused even to discuss whether it would help Clearwire.
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  • Nov. 3, 2011, 2:31 PM
    Clearwire (CLWR -13.5%) is now off sharply following its Q3 report (I, II), as a subscriber guidance hike is offset by the retracting of a prior forecast to deliver positive EBITDA in Q1. Management's failure to provide assurances during its CC about receiving the funding needed to build a 4G LTE network for Sprint (S +4.4%) could also be an issue.
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  • Nov. 3, 2011, 11:23 AM
    Sierra Wireless (SWIR -11.8%) dips after its Q3 revenue misses  estimates. Profits dropped 15% Y/Y, driven by the loss of revenue from Barnes & Noble (BKS -4%) and Clearwire (CLWR -10%). Not surprisingly, the company also lowers guidance for FY11, now expecting revenue of between $145M - $150M, below Street estimates for $166M. Separately, Morgan Keegan, Raymond James and RBC all downgrade the shares on the results.
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  • Nov. 3, 2011, 9:00 AM
    Premarket gainers: MDVN +124%. FIO +16%. NBG +15%. ARO +13%. ING +13%. ANR +12%. PSTI +12%. QCOM +10%. QGEN +8%. ALU +7%. TS +7%. BCS +7%. YRCW +7%. AEO +7%. DB +5%. STX +5%. PCX +5%. LYG +5%. SWKS +5%. GPS +4%. E +4%. MS +4%. LNG +4%. PHG +3%. NOK +3%. TRH +3%. FTE +3%. RTK +3%. ONNN +3%. AU +3%. BAC +3%. MPEL +3%. HL +3%. C +3%. FCX +3%. TOT +3%. SNY +3%. AKS +3%.
    Losers: DNDN -27%. ANF -19%. GMXR -13%. WFR -10%. RIG -8%. WTSLA -7%. K -7%. NTRI -5%. CLWR -5%. TGP -5%. LTD -4%. M -3%.
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  • Nov. 3, 2011, 3:36 AM
    A judge yesterday allowed Sprint (S) to go ahead with a part of its lawsuit to block AT&T's (T) $39B purchase of T-Mobile USA (DTEGY.PK), including the claim that the deal would make it harder for the smaller carriers to obtain in-demand devices such as smartphones. However, she dismissed most other elements of the suits.
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  • Nov. 2, 2011, 4:42 PM
    More on Clearwire's Q3: 1.9M net wholesale subscribers added, in line with prennouncement and above Q2's 1.5M net adds. Wholesale churn was 1.5%, up from Q2's 1.3%. Free cash flow was -$105M. Company now expects 2011 capex to be $100M lower than prior guidance. Clearwire ended Q3 with $711M in cash and investments, and $4.02B in long-term debt. CLWR +3.9% AH. (PR)
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  • Nov. 2, 2011, 4:12 PM
    Clearwire (CLWR): Q3 EPS of -$0.54 misses by $0.14. Revenue of $332.2M (+134% Y/Y) beats by $5.2M. Company expects to exceed prior guidance for 10M subscribers by year's end. Shares -0.5% AH. (PR)
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  • Nov. 2, 2011, 9:00 AM
    Premarket gainers: HGG +15%. MELA +11%. GRMN +10%. MGIC +9%. MA +7%. JDSU +6%. AUO +5%. CHU +5%. EXEL +5%. RENN +5%. RDN +5%. NBG +4%. HAL +4%. AKS +4%. BAC +4%. LNG +4%. PCS +3%. MS +3%. FCX +3%. SIRI +3%. S +3%. C +3%. AA +3%.
    Losers: DMND -16%. OPEN -13%. VG -12%. HGSI -7%. BDX -6%. LYG -5%. CTSH -4%.
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  • Nov. 2, 2011, 12:10 AM
    Notable earnings after Wednesday's close: AUY, AWK, CAR, CLGX, CLR, CLWR, CTL, CVI, CXO, DRC, EQY, ESV, HBI, HIG, IO, KFT, KGC, KIM, LBTYA, LNC, MUR, NWSA, ONNN, ONXX, PRU, QCOM, QGEN, RIG, TSLA, TSO, VMC, WFM, WFR, WLL, WLT
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  • Nov. 1, 2011, 12:48 PM
    Sprint (S -2.9%) lands a deal to become the official wireless provider to the city of San Diego for its 3K mobile devices used by staffers. Though the deal will add $2.6M to Sprint's coffers, it may be of more value as a symbolic nod to the carrier's competitiveness given the 9-month comprehensive bidding between rival carriers for the contract.
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  • Oct. 28, 2011, 9:05 AM
    Premarket gainers: CLWR +10%. AMD +10%. GT +10%. CX +8%. BIDU +7%. BRCD +5%. CLF +4%. TEX +4%. LVS +4%. TTM +3%. NMR +3%. AEZS +3%. JASO +3%. MRK +3%.
    Losers: MF -27%. WHR -11%. CSTR -8%. ING -7%. RBS -7%. MT -5%. OAS -4%. FRO -4%. ERTS -4%. BCS -4%.
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  • Oct. 28, 2011, 7:53 AM
    Clearwire (CLWR), which had 53.6% of its float shorted as of Oct. 14, gains 16.8% after Bloomberg reports the carrier is close to signing a 3-5 year extension of its current 4G network-sharing agreement with Sprint (S). Sprint, which is up 1.3%, reportedly won't provide any financing for Clearwire's LTE buildout in tandem with the deal. (previously)
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  • Oct. 27, 2011, 11:30 AM
    Sprint's (S) Dan Hesse says iPhones tend to generate less data traffic than Android (GOOG) devices - likely due to Apple's (AAPL) multitasking controls, which limit the data usage of background apps. Sprint says this difference will help it maintain unlimited data plans, while BTIG thinks it helps justify the iPhone's higher subsidies.
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  • Oct. 27, 2011, 9:36 AM
    Gabelli is downgrading Sprint (S) to Hold following yesterday's Q3 report, voicing concerns about cash burn, 4G buildout costs, and future spectrum needs, and arguing iPhone sales won't positively impact its EBITDA until 2015. Nonetheless, Sprint is up 5.6% in early trading, surging along with other high-beta names.
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  • Oct. 26, 2011, 3:13 PM
    Sprint (S -3.3%) says it will subsidize iPhone prices by $200 more per device than other smartphones. The comment helps explain why Apple (AAPL) commands an outsized share of smartphone profits: Android (GOOG) buyers choose between multiple vendors, which gives carriers some pricing leverage over each one. But there's only one iPhone maker. (earlier)
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  • Oct. 26, 2011, 1:35 PM
    After rising premarket on its Q3 report (I, II), Sprint (S -4.8%) is now selling off, as weak cash flow guidance and concerns about iPhone (AAPL) purchase commitments ding shares. Morgan Keegan's Tavis McCourt estimates Sprint, which currently sells ~15M smartphones/year, is on the hook to buy 25M-30M iPhones over the next 4 years. (transcript)
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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.