3 Telecom Stocks Seeing Action: AT&T’s Possible Alliance, Nexus 7 Vexes Verizon, Sprint’s Costco Deal
AT&T (NYSE:T): AT&T is expected to announce an alliance with America Movil (NYSE:AMX) that would see an expansion of AT&T’s service into 15 countries in Latin America including Argentina, Chile, and Colombia; until this development, AT&T had remained primarily focused on Mexico and Brazil. AT&T holds a 9 percent stake in America Movil, and chatter has suggested that the two telcos could pair up to tackle Europe, Seeking Alpha says.
Verizon (NYSE:VZ): Verizon declared that the Nexus 7 tablet is not compatible with its network. Though it must provide access to devices via the terms of the block of the wireless spectrum the company purchased from the Federal Communications Commission, Verizon claimed that the Nexus 7 needs an ESN number to connect, which is not something that can be accomplished. Customers could theoretically insert another sim card into the Nexus 7, but Verizon will not be officially supporting the device at this time.
Sprint (NYSE:S): Sprint announced that it would expand its partnership with Costco (NASDAQ:COST), nearly doubling the number of stores in which the wireless carrier will sell its products. The deal appears to be profitable for both companies, with Sprint being able to access larger numbers of potential customers and Costco benefiting from the retail markup.
Don’t Miss: Sprint Jumps on Upgrade Plan Bandwagon.