Chief Executive Officer of Sprint Nextel Corporation (NYSE:S) Dan Hesse talks to line up with Softbank Corp, Japan’s third- biggest wireless carrier, have the potential to redesign the United States wireless landscape, forming a more viable rival to Verizon Communications Inc (NYSE:VZ) and AT&T Inc (NYSE:T) and sparking a latest round of consolidation.
Two persons with knowledge about the issue reported that Sprint’s talks involve Softbank taking a stake of around 75% and offering capital for investments. The Nikkei newspaper reported that Softbank may pay 1.5 trillion yen or $19 billion but the newspaper did not mention the source.
An accord between Softbank and Sprint would upset a wireless industry that has been more and more dominated by Verizon and AT&T.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Clearwire Corporation (NASDAQ:CLWR) rose +70.77% to settle at $2.22, USA Mobility Inc (NASDAQ:USMO) moved up +2.31% to end at $11.51 while Verizon Communications Inc. (NYSE:VZ) plunged -1.27% to finish at $45.20 on Thursday.
Sprint Nextel Corporation (NYSE:S) on Oct 11, 2012 increased +14.29% to the closing price of $5.76. The overall volume in the last trading session was 516.98 million shares. Its fifty two weeks range was $2.10 – $6.04. The total market capitalization remained at $17.28 billion.
SPRINT NEXTEL CORPORATION is ahead of its 52-week low with 174.29%. SPRINT NEXTEL CORPORATION’s last month’s stock price volatility remained 4.98%. In its share capital SPRINT NEXTEL CORPORATION has 3.00 billion outstanding shares, among them 3.00 billion shares have been floated in market exchange. SPRINT NEXTEL CORPORATION’s stock’s institutional ownership remained 89.32% while insider ownership included 0.24%.
The stock price of SPRINT NEXTEL CORPORATION is moving forward from its 20 days moving average with 8.65% and remote positively from 50 days moving average with 14.47%. SPRINT NEXTEL CORPORATION’s current year’s earnings per share experienced an addition with 16.79% while its current quarter performance remained at 72.97%. Company’s beta coefficient included 1.13. Beta factors measure the amount of market risk associated with market trade.
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