Sprint Opposed By Mount Kellett Alliance and 2 Other Hot Stocks To Watch

Sprint Nextel Corporation (NYSE:S): Current price $7.12

Mount Kellett Capital Management has formed an alliance with certain other Clearwire Corporation (NASDAQ:CLWR) investors in order to induce Sprint into extending an improved takeover offer for the wireless Internet firm. The group, which also includes Highside Capital Management, Glenview Capital Management, Chesapeake Partners Management Co. and others, indicated Friday in a filing that it holds 18.2 percent of Clearwire’s publicly traded shares; the group wants to persuade Sprint to hike its $2.97-a-share bid.

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S

Arena Pharmaceuticals (NASDAQ:ARNA): Current price $7.57

Shares were moving down Friday morning with an open price 10.1 percent lower than Thursday’s close, according to TheStreet. The stock closed at $8.40 on Thursday and opened Friday’s trading at $7.55. The average volume for Arena has been 4.7 million shares per day during the past 30 days the firm has a market cap of $1.79 billion and forms part of the health care sector and drugs industry. Shares are down by 8.8 percent year-to-date as of the close of trading on Thursday.

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ARNA

Central European Media Enterprises (NASDAQ:CETV): Current price $2.65

CETV reported Friday the pricing of an underwritten public offering of 54,436,582 shares of its Class A common stock, with par value $0.08 per share at a public offering price of $2.75 per share, prior to before underwriting discounts and commissions. JPMorgan Securities is acting as the sole book-running manager for the offering. CME has given the underwriters an option to buy from CME up to an additional 5,443,658 shares of Class A common stock.

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CETV

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