Sprint’s Pending Buyout and 4 Telecom Titans Attract Interest
Sprint Nextel Corp. (NYSE:S) has been riding high on its pending buyout by a Japanese company, but its most recent customer count and financial results are expected to give a reality check. They will show how much lies ahead for Sprint and its expected new owner, SoftBank Corp. Both hope to turn Sprint into stronger competition for Verizon Wireless and AT&T Inc. A key number in Sprint’s Q3 earnings report on Thursday is expected to indicate if the company is doing a better job adding customers. However, analysts, predict that Sprint will post little growth from the 56.4 million subscribers the Overland Park-based wireless phone company had at the end of June.
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Leap Wireless International Inc. (NASDAQ:LEAP): Credit Suisse has begun to cover Leap Wireless shares. The firm gave the shares a Neutral rating and a $5.50 price target.
MetroPCS Communications, Inc. (NYSE:PCS): Google (NASDAQ:GOOG) will expand the Wallet contactless payment service to regional operator MetroPCS, suggesting a future revamp of the solution and possibly introducing support for Apple’s (NASDAQ:AAPL) rival iPhone. Google announced on Twitter that MetroPCS customers owning a Samsung Galaxy S III smartphone are now able to download the Wallet application from its Google Play digital storefront. The app allows consumers to make purchases by tapping their device at over 200,000 MasterCard PayPass-enabled merchant terminals spanning the U.S. Google Wallet also includes SingleTap support, allowing users to redeem coupons and/or earn rewards points, as well as providing Featured Offers, which spotlights exclusive discounts from select retailers.
Level 3 Communications Inc. (NASDAQ:LVLT) expanded its Vyvx Solutions suite of video broadcast services in Latin America. The service is intended to leverage Level 3’s HD-quality IP fiber network. To date, Level 3 signed agreements to transmit over 35,000 hours of video throught its network for regional companies. Several broadcast companies located in the region recently starting to use Vyvx Solutions for the expansion of their presence in Latin America and beyond, which includes sports broadcaster ESPN Brazil, Terra, and TV Azteca.