Juniper DROPS 3% with Telecom Titans Attracting Interest Now
Sprint Nextel Corp. (NYSE:S): Virgin Mobile USA, a prepaid brand of Sprint, will make Apple’s (NASDAQ:AAPL) iPhone available without a contract starting Friday, June 29. The iPhone 4 8GB model through Virgin Mobile will cost $549.99, and the iPhone 4S 16GB model will cost $649.99. iPhone devices sold via Virgin Mobile will be put toward Sprint’s preexisting unit commitment with Apple. Sprint predicts bringing the iPhone to Virgin Mobile ought not have a material impact to Adjusted OIBDA this year. Shares of Sprint traded up $0.02 (0.74%) recently at $2.74.
Vodafone Group plc (NASDAQ:VOD) and Telefonica (NYSE:TEF) U.K. reported plans to fortify their current partnership by combining their network infrastructure at the same time as running independent spectrum and competing services. Both business vow to close the digital divide between rural and urban areas, aiming for 98% indoor population coverage across 2G and 3G by 2015. Shares of Vodafone traded up $0.14 (0.53%) recently at $26.40.
Juniper Networks, Inc. (NYSE:JNPR): Needham downgraded Juniper to Hold from Buy. Shares recently traded down $0.58 (3.32%) at $16.905.
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