Leap Wireless Skyrockets on AT&T Buyout Offer and 2 Other Hot Stocks to Watch
Leap Wireless International Inc. (NASDAQ:LEAP): Current price $16.80
Leap Wireless shares are up more than 110 percent in late Monday morning trading after AT&T offered to acquire the carrier for $1.2 billion so as to increase its airwaves and gain a bigger portion of the pay-as-you-go market. Not only Leap shares surged: the company’s $1.6 billion of 7.75 percent notes due October 2020 jumped by 14 cents to 115.4 cents on the dollar to yield 5.18 percent at 9:11 a.m. in New York, says the bond-price reporting system of the Financial Industry Regulatory Authority Trace. The bonds have risen from a 2013 low of 94 cents on June 24.
Sprint Nextel Corp. (NYSE:S): Current price $6.63
Sprint has unveiled the Sprint Unlimited Guarantee, which assures customers unlimited talk (calls to any landline or mobile phone), text, and data while they are on the Sprint network. This guarantee applies to both new and existing customers who enroll for Sprint’s new Unlimited, My Way plan or My All-In plan. These plans, together with the Sprint Unlimited Guarantee, were available beginning Friday. The Unlimited, My Way and My All-In rate plans offer unlimited talk, text, and data starting at $80 per month.
BlackBerry (NASDAQ:BBRY): Current price $9.47
Only months after being put on sale, top wireless providers of BlackBerry’s new smartphone are selling the products at sharp discounts, says The Wall Street Journal, which reports that the BlackBerry Z10 is now going for $99 at Verizon and AT&T, with Amazon selling it at $49, marking a whopping markdown from the phone’s initial price of $199. The huge discounts say much regarding BlackBerry’s endeavors to retrieve lost market share from Samsung’s (SSNLF.PK) Galaxy phones, Apple’s (NASDAQ:AAPL) iPhone, and devices run on Google’s (NASDAQ:GOOG) Android operating system.