Sprint DROPS 2% and 2 Telecom Titans Attracting Interest Now
AT&T, Inc. (NYSE:T): The Los Angeles Times reports that as part of a one-day action, land-line workers from hundreds of locations around California and Nevada walked off their jobs in order to protest AT&T’s contract demands. The shares traded up $0.39 (1.13%) recently at $34.94.
Sprint Nextel Corp. (NYSE:S): Reuters cites a Sprint spokeswoman in reporting that the company intends to line up its voting interest with its economic interest in Clearwire (NASDAQ:CLWR). The company can now do this without risking a default on its own debt because it is no longer majority shareholder in the wholesale broadband provider. The shares traded down $0.06 (2.01%) recently at $2.925.
Verizon Communications Inc. (NYSE:VZ): William Blair’s Anil Doradio claims that as a result of Verizon Wireless’ efforts to promote 4G devices, Motorola’s (NASDAQ:GOOG) Droid RAZR MAXX has outsold the current top-selling model, the iPhone (NASDAQ:AAPL). Doradio does, however, believe that the iPhone is still AT&T and Sprint’s best-selling phone, and he believes that a 4G model will act as “an important catalyst” for Apple.
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