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Sprint Corporation (S)

  • Oct. 11, 2012, 2:52 PM
    The Sprint/SoftBank rumors just won't stop. MetroPCS (PCS -0.8%) has spiked higher (mostly erasing its early losses) on a report from the Nikkei that SoftBank (SFTBF.PK) will buy the discount carrier via Sprint (S +13.1%). But David Faber's sources claim SoftBank isn't talking with MetroPCS. (more)
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  • Oct. 11, 2012, 1:45 PM
    Clearwire (CLWR +41.5%) has tripped up circuit breakers as the 4G network owner cancels a Deutsche conference appearance and takes a prominent role in Sprint/SoftBank rumors. David Faber now says Sprint (S +11.1%), rather than SoftBank, would acquire Clearwire in any deal, while SoftBank would take a 70%+ stake in Sprint. Faber's sources claim the odds of a deal are still above 50/50, but have been diminished by today's leaks.
  • Oct. 11, 2012, 1:15 PM
    Sprint (S +12.7%confirms it's in talks with SoftBank (SFTBF.PK) about a "potential substantial investment" that could lead to a change of control. In an e-mail to employees, CEO Dan Hesse cautions the deal "may or may not occur." (more)
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  • Oct. 11, 2012, 12:45 PM
    Midday top 10 gainers: CLWR +37%. USAT +27%. PURE +22%. ANR +15%. ACI +14%. S +13%. DRWI +13%. PATK +12%. OSK +12%. JKS +12%.
    Top 10 Losers: PRSS -16%. KITD -12%. CMN -11%. OTT -10%. WSO -10%. DLTR -9%. CLNT -8%. SWC -8%. BSDM -8%. ONE -8%.
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  • Oct. 11, 2012, 11:07 AM
    More on Sprint/SoftBank: David Faber claims SoftBank's talks with Sprint (S +19%) also cover the acquisition of Clearwire (CLWR +38.8%). He adds a 3-way deal featuring T-Mobile was considered, but talks fell apart due to antitrust concerns, leading T-Mobile to go after MetroPCS (PCS -6.1%). Sources tell Faber a SoftBank/Sprint deal, though not yet finalized, could happen in a week or two. SoftBank reportedly thinks Sprint and Clearwire's spectrum will allow it to challenge the AT&T/Verizon "duopoly." (more)
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  • Oct. 11, 2012, 10:12 AM
    Sprint (S +12.6%) has given back a chunk of the early gains it saw on a report SoftBank is in talks to buy a majority stake in the #3 U.S. carrier. SoftBank's cool response to the report - the Japanese carrier calls it "based on speculation" - might have something to do with the pullback. Analyst Kevin Roe thinks the report could indicate a ~$6.40/share offer price - Sprint is currently moving at $5.68. Verizon (VZ -1.2%) and AT&T (T -0.9%) are off moderately. (also)
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  • Oct. 11, 2012, 9:14 AM
    Clearwire (CLWR) +29.2% following a report SoftBank (SFTBF.PK) is thinking of buying a majority stake in Sprint (S) - investors are clearly betting Sprint's 4G network partner will also turn into a takeover candidate. However, MetroPCS (PCS) is down 7.8%, as the Street assumes a Softbank deal will lower the odds of a Sprint counter-offer to the T-Mobile deal, and perhaps put the carrier in a worse competitive position. Leap Wireless (LEAP) +3.4%.
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  • Oct. 11, 2012, 9:10 AM
    Premarket gainers: CLWR +28%. S +19%. CTB +16%. DRWI +16%. FOLD +7%.
    Losers: PCS -8%. SWC -5%.
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  • Oct. 11, 2012, 7:12 AM
    Sprint (S) soars 23% premarket on a report Japan's Softbank is mulling taking more than a two-thirds stake in the company for about $13B. Softbank says it is "checking the facts of the Nikkei report."
  • Oct. 10, 2012, 1:14 PM
    MetroPCS (PCS -5.8%) dives after Bloomberg reports Sprint (S +0.8%) is "holding off on an immediate counterbid," and wants to look at Deutsche Telekom's regulatory filing for the MetroPCS/T-Mobile deal (expected in a month or two) before making a move. Sprint reportedly offered $8B (including debt) for MetroPCS, which currently has a market cap of $4.3B and $2.4B in net debt, earlier this year. Since then, Sprint's shares have surged, possibly enabling an offer with less equity dilution.
  • Oct. 4, 2012, 12:55 PM
    MetroPCS (PCS -1.9%) briefly turned positive following a Bloomberg report claiming Sprint (S -3.6%) is "in the early stages of evaluating a counter offer" for MetroPCS, and could decide on whether to one-up T-Mobile's bid as early as next week. Leap Wireless (LEAP -5.5%), already pummeled yesterday, is near the day's lows following a brief spike. Sprint, which (unlike T-Mobile) uses the same 3G tech as MetroPCS, reportedly had a deal to buy the carrier in February, but its board got in the way.
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  • Oct. 4, 2012, 10:02 AM
    Sprint (S -2.5%) opens lower thanks to a downgrade to Underperform from Baird, which is worried about competition. Meanwhile, MetroPCS (PCS -6.5%) which tumbled yesterday after the terms of the T-Mobile merger failed to go over well, is falling more following a downgrade to Reduce from Nomura, which doesn't see T-Mobile fixing the carrier's problems. Mobile analyst Henry Wang agrees. "Being No. 4 in this very competitive market is no fun ... AT&T and Verizon can better procure the handsets that people want, and keep costs down as well."
  • Oct. 3, 2012, 2:47 PM
    The Street's newfound skepticism about the likelihood of an expensive Sprint/Leap Wireless deal may not be good news for Leap's shares, but it clearly is for Sprint's (S +6.9%): the #3 U.S. carrier has erased the losses it saw yesterday after reports of a pending MetroPCS/T-Mobile deal (confirmed today) raised fears debt-laden Sprint would pay through the nose to buy Leap. 4G partner Clearwire (CLWR -0.4%) has largely tread water over the last 2 days, in spite of yesterday's volatility.
  • Oct. 3, 2012, 11:13 AM
    After soaring yesterday on MetroPCS/T-Mobile reports, and rising more in premarket trading after the deal was announced, Leap Wireless (LEAP -15.4%) is more than giving back its gains, as investors conclude the deal's terms might not bode well for Leap. A downgrade to Neutral from JPMorgan also isn't helping: the firm doubts a suitor will arrive in the near-term, and calls Leap an "unattractive" target for Sprint (S +0.2%). MetroPCS (PCS -8.5%), meanwhile, has seen its losses steepen.
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  • Oct. 3, 2012, 9:10 AM
    More on the MetroPCS/T-Mobile USA merger: MetroPCS shareholders will get $1.5B in cash and a 26% stake in the combined company (MetroPCS closed with a $4.9B market cap yesterday), and Deutsche Telekom (DTEGY.PK) the remaining 74% stake. The deal is expected to close in 1H13. The WSJ notes the deal's reverse-merger structure could allow DT to gradually sell its stake and exit the U.S. market. PCS -2.1% after yesterday's big gains. LEAP +3.4%. S -1.2%.
  • Oct. 2, 2012, 10:04 AM
    MetroPCS (PCS +15.3%) and Leap Wireless (LEAP +15.1%) shoot higher after Bloomberg reports Deutsche Telekom (DTEGY.PK), parent of T-Mobile USA, is close to a deal for MetroPCS, long the subject of M&A speculation. Sprint (S -6.9%) and Clearwire (CLWR -4.1%) are selling off.
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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.