Sprint Retreats From MetroPCS Deal and 4 Heavily Traded Shares Moving the Market
Sprint Nextel Corporation (NYSE:S): After Bloomberg reported that Deutsche Telekom (DTEGY) is close to a deal with MetroPCS Communications (NYSE:PCS) that would bolster the German company’s T-Mobile USA division, Sprint Nextel Corporation is retreating. Speculation has surfaced recently regarding a potential deal between Sprint and T-Mobile. In mid-morning trading, Sprint dropped 23c, or 4.54%, to $4.95.
Bank of America Corp (NYSE:BAC): As regulators seek to curb deceptive marketing of products that include debt cancellation, JPMorgan Chase & Co. (NYSE:JPM), Bank of America Corp. (NYSE:BAC) and American Express Co. (NYSE:AXP) are among credit-card lenders retreating from the $2.4 billion market.
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Sirius XM Radio Inc (NASDAQ:SIRI): After the satellite radio company received an endorsement from analysts at both Citigroup and Bank of America/Merrill Lynch, their shares are trading higher.
Ford Motor Company (NYSE:F): Ford Motor Company reported that September’s total utilities are up by 8.7% while Ford brand sales are flat and Lincoln brand sales are down by 3.1%.
Research In Motion Limited (NASDAQ:RIMM): According to Interbrand, an international consultancy firm, the BlackBerry, which once dominated the smartphone landscape, has plummeted almost to the bottom in the most recent ranking of top mobile devices. The firm stated that Research In Motion Limited’s BlackBerry is now 93rd on their list of one hundred most valuable global brands, they are down from 56th place in 2011. This puts the Blackberry’s value at $3.9 billion, down 39% from a year ago.
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