Clearwire (CLWR +12.1%) shares rocket higher after Sprint (S +2.5%) says it may use proceeds...

|About: Sprint Corporation (S)|By:, SA News Editor

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.