Afternoon Buzzers: Sprint Surges on Buyout Talks, HP Loses Top Spot to Lenovo
Shares of Sprint Nextel (NYSE:S) surged more than 13 percent today. Softbank, Japan’s third-largest mobile carrier, is reportedly in talks to buy 75 percent of Sprint for more than $12.8 billion. Softbank claims the reports are “based on speculation.” The company added, “We have not announced anything. We do not comment on speculation.”
Apple (NASDAQ:AAPL) has stemmed its recent pullback and asked Foxconn to tighten quality control measures while manufacturing the iPhone 5 after complaints of scratches on the device’s body.
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Despite a negative report on PC global shipments, Hewlett-Packard (NYSE:HPQ) shares are edging slightly higher. For the first time since the third quarter of 2006, HP slipped to the number two spot, shipping an estimated 13.55 million units, a 16.4 percent decline from a year earlier, according to Gartner. China’s Lenovo took the number one position in global PC shipments for the first time in the company’s history.
Shares of Facebook (NASDAQ:FB) recovered almost 1 percent on Thursday after a report from Piper Jaffray showed social gaming is losing interest among teens. Analyst Michael Olson writes, “Social gaming has been adversely impacted by weakening fundamentals, including declining daily active users, low engagement and deteriorating monetization trends.” The survey found that 83 percent of students do not play social games on sites like Facebook. Shares of Zynga (NASDAQ:ZNGA) also recovered slightly.
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