Judicial Branch to Sprint: This Lawsuit is Mostly Dismissed

Sprint Nextel Corp. (NYSE:S) had challenged AT &T’s (NYSE:T) proposed $39 billion acquisition of T-Mobile USA in court.

Most parts of Sprint’s (NYSE:S) lawsuit were dismissed by Federal judge Ellen Huvelle except one part – a claim that the merger would make it difficult for the smaller carriers to obtain supplies of hot-selling devices such as smartphones.

AT&T’s (NYSE:T) defense of the merger could be complicated by this decision, as it still faces legal blocks put up by the government anti-trust authorities.

Here’s how these telecom stocks are trading:

  • AT&T, Inc. (NYSE:T): The shares recently traded at $29.44, up $0.36, or 1.24%. Its market capitalization is $174.46 billion. They have traded in a 52-week range of $27.20 to $31.94. Volume today was 19,994,788 shares versus a 3-month average volume of 35,108,400 shares. The company’s trailing P/E is 14.89, while trailing earnings are $1.98 per share. The company pays a dividend of $1.72 per share for a dividend yield of 6.00%. About the company: AT&T Inc. is a communications holding company. The Company, through its subsidiaries and affiliates, provides local and long-distance phone service, wireless and data communications, Internet access and messaging, IP-based and satellite television, security services, telecommunications equipment, and directory advertising and publishing. Get the most recent company news and stock data here >>
  • Sprint Nextel Corp. (NYSE:S): The shares recently traded at $2.81, up $0.09, or 3.31%. Its market capitalization is $8.42 billion. They have traded in a 52-week range of $2.10 to $6.45. Volume today was 67,640,719 shares versus a 3-month average volume of 77,766,600 shares. The company’s trailing earnings are $-0.84 per share. About the company: Sprint Nextel Corporation offers a range of wireless and wireline communications services to consumer, business, and government customers. The Company develops, engineers, and deploys various technologies, including two wireless networks offering mobile data services, instant national and international push-to-talk capabilities, and a global Tier 1 Internet backbone. Get the most recent company news and stock data here >>

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