Sprint (NYSE:S): The stock is tanking in premarket trades, having lost more than -11.4% of its value on news that the company has entered a fifteen year agreement with LightSquared over “spectrum hosting and network services.” Lightsq. will pay Sprint $9 billion in cash over an 11 year period in addition to other means of compensation valued at $4.5 billion. Keep an eye on the active telecom sector today: AT&T Inc. (NYSE:T), Verizon Communications Inc. (NYSE:VZ), Clearwire Corporation (NASDAQ:CLWR), MetroPCS Communications, Inc. (NYSE:PCS), and Leap Wireless Intl., Inc. (NASDAQ:LEAP).
Goldcorp (NYSE:GG): The company’s stock is down -1.75% premarket as its revised its 2011 forecast for gold production to a range of 2.5 million to 2.55 million ounces, down from prior target of 2.65 million to 2.75 million ounces. As a counterweight though, the company said it also sees cash costs for 2011 at between $180 and $220 per ounce of gold, upwards from the prior estimated range of $280 to $320 per ounce. Don’t Miss: Investing in Precious Metals: This Metal Miner Doubled Profits!
Royal Caribbean Cruises Ltd. (NYSE:RCL): The stock is swooning this morning, down -6.63% courtesy of news that the company has lowered its 2011 profit forecast due to an error in “accounting treatment of interest expense relating to amortization of certain financing fees.” RCL also reaffirmed its current divided of $.10 per share, saying it will be recorded at market close on Aug. 12th and payable on Aug. 30th.