3 Telecom Stocks Seeing Action: Sprint Trades Post-Merger, AT&T Readies for New Lumia, and T-Mobile’s Evolving Network
Sprint (NYSE:S): Sprint has opened its trading for the first time post-merger, with shares higher on an adjusted basis. Janco has upgraded shares to Strong Buy on Friday morning, while JPMorgan has resumed coverage at Neutral. SoftBank CEO Masayoshi Son says Sprint will spend a hefty $16 billion in capital expenditures over the next two years, with much of it going toward expanding LTE coverage.
AT&T (NYSE:T): The positive reviews of Nokia’s (NYSE:NOK) new Lumia 1020 are not just helpful for the struggling Finnish company but also for AT&T, which has exclusive rights for the phone here in the U.S. Pre-orders for the phone — which boasts a huge 41 megapixel sensor camera — begin Tuesday on AT&T’s website. Nokia’s latest flagship smartphone will also be front and center as AT&T’s “hero” device for the crucial back-to-school season, AT&T’s senior vice president of devices, Jeff Bradley, told CNET on Thursday.
T-Mobile US (NYSE:TMUS): T-Mobile’s LTE market reach has seen incredible growth in the past few months. In March, the company had just seven markets covered under LTE; now, that number is 116. But the networks are in “a constant state of flux,” Gigaom reports. “[The company] isn’t just tossing up LTE sites in one city and the moving on to the next one. Once the initial coverage footprint is complete in a market, T-Mobile is starting to reuse spectrum from MetroPCS’s old networks to boost its cell sites’ capacity,” the publication says.