Sprint Wins 5-Year Wireless Contract with Himex and 2 Other Hot Stocks to Watch
Sprint Nextel Corp. (NYSE:S): Current price $6.38
On Thursday, HIMEX said that it has reached a five-year accord with Sprint as its preferred CDMA carrier, to wirelessly enable and support HIMEX Usage-Based Insurance and telematics solutions. HIMEX Senior Vice President for Business Development, Neil Fishenden, commented, “As a company founded on innovation and excellence, HIMEX is excited to work with Sprint to deliver an unbeatable collaborative offering to the insurance industry. We chose Sprint as our CDMA carrier partner providing us with a common infrastructure across personal and commercial lines. Sprint’s investment in its all-new 3G and 4G LTE network, along with their commitment to maintaining 2G service, has led us to jointly deliver insurers with flexible and scalable solutions to meet the demands of an increasingly data-reliant industry today and in the future.”
Chesapeake Energy Corp. (NYSE:CHK): Current price $24.95
In its first quarterly results under new Chief Executive Doug Lawler, Chesapeake reported a better-than-anticipated profit on Thursday, as it produced more crude oil than Wall Street had expected. Chesapeake, as the number-two domestic producer of natural gas, said that oil output in the second quarter rose by 44 percent to 116,000 barrels per day, and also raised its crude output forecast for the full year. Bernstein Research analysts had estimated the company’s oil production at 105,000 bpd in the quarter. Second quarter profit at Chesapeake fell to $457 million, or 66 cents per share, from $929 million, or $1.29 per share, year-over-year. However, adjusting for one-time items, the firm showed a profit of 51 cents per share. Consensus was for 41 cents per share, according to Thomson Reuters I/B/E/S.
Ford Motor Co. (NYSE:F): Current price $17.19
Ford will shell out $17.35 million to the federal government to resolve whether it took too much time to recall vehicles that might have a defect causing unintended acceleration. Back in July 2012, the National Highway Traffic Safety Agency asked Ford to recall 423,000 Ford Escape sport-utility vehicles, as they could have a flaw causing the accelerator pedal to stay down after drivers took their foot off of them. During the inquiry, the agency also uncovered evidence that Ford may have known about the safety problem, but failed to advise customers or the government, which is a violation of federal law, according to a regulator settlement document dated June 28. Ford will pay NHTSA, but denies that it broke any statutes.
Don’t Miss: 7 Cars Coming with Exciting New Tech.