J.P. Morgan: Leap Wireless and MetroPCS Take Over Targets in 2012

J.P. Morgan views Leap Wireless (NASDAQ:LEAP) and MetroPCS (NYSE:PCS) as potential takeover targets for AT&T (NYSE:T) and T-Mobile following the collapse of their planned merger.

Speculation has centered on Dish Networks (NASDAQ:DISH) and Clearwire (NASDAQ:CLWR), but JPM believes a deal for LEAP or PCS should pass regulatory scrutiny.

Amidst the speculative news surfacing out of J.P. Morgan, here’s how these telecom companies are reacting to the news today:

United States Cellular Corp. (NYSE:USM): USM shares recently traded at $43.13, up $0.12, or 0.28%. They have traded in a 52-week range of $35.58 to $52.41. Volume today was 21,328 shares versus a 3-month average volume of 84,067 shares. The company’s trailing P/E is 20.90, while trailing earnings are $2.06 per share.

Verizon Communications Inc. (NYSE:VZ): VZ shares recently traded at $39.97, up $0.21, or 0.53%. They have traded in a 52-week range of $32.28 to $40.04. Volume today was 3,820,613 shares versus a 3-month average volume of 14,308,500 shares. The company’s trailing P/E is 16.07, while trailing earnings are $2.49 per share.

Sprint Nextel Corp. (NYSE:S): S shares recently traded at $2.28,. They have traded in a 52-week range of $2.10 to $6.45. Volume today was 8,107,476 shares versus a 3-month average volume of 56,975,400 shares. The company’s trailing earnings are $-0.84 per share.

To contact the reporter on this story: Jim Wilkerson at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com