Verizon Soars on Dow’s Sharp Rise and 4 Telecom Titans Attracting Interest
AT&T, Inc. (NYSE:T): Current price $35.49
In trading on Friday, shares of AT&T Inc. went above their 200 day moving average of $35.00, changing hands for as high as $35.63 per share.
Sprint Nextel Corp. (NYSE:S): Current price $5.70
According to the Wall Street Journal, the Japanese mobile carrier Softbank Corp. (SFTBF) said that their planned $20.1 billion deal for 70% of Sprint Nextel Corp., expected to close by mid-year, will be a drag on earnings in the coming fiscal year before contributing to profits two years later. Softbank’s Chief Eecutive Officer, Masayoshi Son, said that is because of depreciation costs tied to the closing of Nextel’s old 2G network and Sprint’s plans to accelerate capital spending to build out their infrastructure.
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Verizon Communications Inc. (NYSE:VZ): Current price $44.53
Stocks rose sharply Friday morning in New York with the Dow briefly crossing 14,000 for the first time since Oct. 2007. Among gainers, Verizon Communications Inc. rose 2.3% to $44.63.
Vodafone Group PLC. (NASDAQ:VOD): Current price $27.34
Vodafone Group PLC., O2 and Three may soon be able to use their existing mobile networks to provide 4G coverage, as the regulator Ofcom proposes changes to the way spectrum licenses are used.
Clearwire Corporation (NASDAQ:CLWR): current price $3.19
Clearwire Corporation has filed a preliminary proxy statement in connection with their definitive agreement with Sprint Nextel Corporation (NYSE:S) for Sprint to acquire the approximately 50% stake in Clearwire that they do not already own for $2.97 per share.
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