Sprint Nextel, Citigroup, JP Morgan, Halliburton Attract High Demand Trading Feb. 27th
Sprint Nextel Corporation (NYSE:S): Sprint said in a regulatory filing that it expects wireless segment earnings will decline in 2012 as compared to 2011 until it benefits from Network Vision, through reduced network and operating costs, and begin to see further increases in retail service revenue through improved total retail postpaid net additions sufficient to recover these increased equipment net subsidy and acquisition costs. Wireless segment earnings are also impacted by a commitment with Apple (NASDAQ:AAPL) to purchase a minimum number of smartphones, which on average, are expected to carry a higher subsidy per unit than other smartphones Sprint sells.
Citigroup Inc. (NYSE:C): Citigroup wants foreign sovereign debt to be exempt from the Volcker rule reach on proprietary trading, the Wall Street Journal says.
JP Morgan (NYSE:JPM): A CLSA analyst said JPMorgan would be worth more if it broke up and sell its businesses, reports Bloomberg. Mike Mayo said the sum of its parts would be worth one-third more than its current market value.
Halliburton (NYSE:HAL): Halliburton downgraded to Outperform from Strong Buy at Raymond James. Raymond James downgraded shares due to a faster than expected deterioration in pressure pumping.
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