3 Telecom Stocks Seeing Action: Canadian Businesses Protest Verizon Terms, Sprint’s Pre-Game Card, and AT&T’s Music Moves
Verizon Wireless (NYSE:VZ): A consortium of 150 CEOs from Canada have written Prime Minister Stephen Harper a letter, asking him to reconsider a set of rules that they believe would offer Verizon an unfair competitive advantage upon its entry to the Canadian market. The rules would supposedly give the American telecom giant preferential treatment when buying spectrum assets. The letter also signals that Harper’s plan to shake up the Canadian wireless market via increased competition may not be favored by domestic businesses.
Sprint Corp. (NYSE:S): With its earnings report around the corner, analysts are expecting the company to pull a loss of 33 cents for the quarter and a loss of 89 cents per share for the fiscal year, Forbes reports. Projections for revenue are looking at a 2 percent decline year-over-year to $8.69 billion for the quarter, down from $8.84 billion a year ago. Annual revenue is expected to weigh in at $35.03 billion.
AT&T (NYSE:T): With the popular Muve music program coming wrapped up with AT&T’s purchase of Leap Wireless (NASDAQ:LEAP), it would seem odd for the second-largest carrier in the U.S. to keep pursuing its talks with Beats Music. But AT&T has larger plans for its music assets: Cricket’s Muve Music would be marketed to less affluent, prepaid subscribers, while Beats Music would be targeted for customers willing to pay a premium for their phone package.