3 Telecom Stocks Seeing Action: AT&T Loses Wi-Fi Contract, Sprint Sees Return to Sub Growth Next Year, and T-Mobile’s Cheapest LTE Phone
AT&T (NYSE:T): Starbucks (NASDAQ:SBUX) has opted to go with Google (NASDAQ:GOOG) over AT&T to meet its Wi-Fi needs, potentially dealing a blow to the telecom company. The coffee giant intends to upgrade 7,000 locations in favor of Google’s service, which is reportedly 10 times faster than the existing AT&T option. The coffeehouse chain did not reveal its reason for the change, nor were financial terms disclosed.
Sprint (NYSE:S): After his company lost about 2 million subscribers — as revealed by the latest quarterly report — Sprint CEO Dan Hesse says the carrier should be returning to subscriber growth next year. The company will continue to shed subscribers in the coming months because of the Nextel closing before rebounding next year, Hesse said to Bloomberg.
T-Mobile US (NYSE:TMUS): T-Mobile said August 7 will be the release date of the LG Optimus F3, which is set to become the carrier’s cheapest LTE-capable handset. The LG phone will be offered in a limited-time promotion of $0 down with 24 device payments of $10 per month for a total payment of $240. The phone runs 4.1.2 Jelly Bean and features a 4-inch 480×800 IPS display, a 1.2 GHz dual-core processor, and 1 GB of RAM.