Sprint ANTICIPATES Boost with iPhone 5 Release and 4 Telecom Titans Attracting Interest
AT&T, Inc. (NYSE:T) will buy NextWave Wireless Inc., a company that retains the right to employ sections of the wireless spectrum that could be used for broadband. AT&T reported today that it is paying up to $600 million in cash, most of which will be dedicated to paying off NextWave debt. This also covers $25 million for the shares, and an additional $25 million if some conditions are met. Shares of AT&T traded down $0.08 (0.21%) recently at $37.563.
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Sprint Nextel Corp. (NYSE:S) is up 84.62 percent year to date, and has risen 27.06 percent in the last month of trading. In the past market week, it has kept rising, gaining over 20 percent. In contrast AT&T is up 29.66 percent for the year, and Verizon Communications has risen 16.97 percent in 2012. Sprint is expected to gain more when the iPhone 5 becomes available (Sprint was downgraded three times in 24 hours due to investor disappointment over the iPhone 4S last year). Shares of Sprint traded down $0.1 (2.31%) recently at $4.22.
Verizon Communications Inc. (NYSE:VZ): For Verizon’s existing unlimited data customers, having to make available free tethering (allowing other devices to share a 3G or 4G connection with Wi-Fi, Bluetooth or USB) is turning out to be too good to be true. The company reports that these customers still have to fork over the $20 per month fee to start the connection sharing. Verizon shares traded down $0.86 (1.9%) recently at $44.35.
Vodafone Group plc (NASDAQ:VOD): Tigo and Vodafone Ghana are two of the five corporations in Ghana that have benefited from the $60 million that German investment company DEG has put into the country to date. Shares of Vodafone traded down $0.25 (0.85%) recently at $29.19.
Alcatel-Lucent, S.A. (NYSE:ALU) CEO Ben Verwaayen put blame for the infrastructure vendor’s financial woes of late on the company itself, and reported that Alcatel-Lucent will concentrate on cost cutting, research and development, and maybe monetising its patent portfolio in an effort to get itself out of a hole. Shares traded down $0.04 (3.45%) recently at $1.12.
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