Sprint REITERATED at Underperform and 4 Telecom Titans Attracting Interest
AT&T, Inc. (NYSE:T) is the most recent brand to move in at Chicago’s renowned Magnificent Mile, and it will open a 10,000 square-foot flagship store on Sept. 1. On top of products and services also found at AT&T’s more than 2,300 retail stores across the nation, the Michigan Avenue store will offer customers a glimpse of the future, which will include AT&T’s first retail demos of the new AT&T Digital Life home security as well as automation services and of a connected car showing how wireless technology can assist driving. The shares traded down $0.12 (0.33%) recently at $36.70.
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Sprint Nextel Corp. (NYSE:S) stock’s “underperform” rating was reiterated by investment analysts at Jefferies Group in a note that was issued to investors on Thursday, and Sprint Nextel opened at 4.86 on that day. Sprint Nextel currently has a 1-year low of $2.10 and a 1-year high of $5.49. The market cap of the company is $14.582 billion. The shares traded down $0.04 (0.82%) recently at $4.82.
Verizon Communications Inc. (NYSE:VZ): In an attempt to catch up with Verizon Wireless, AT&T (NYSE:T) has proposed nearly $2.6 billion in deals for the rights to spectrum, Bloomberg reports. AT&T proposed at least 24 deals in the past four months regarding airwaves. Stifel Nicolaus analyst Chris King states that AT&T’s buying spree is also an attempt to relieve pressure on its network since its wireless coverage is taxed by data traffic from smartphones and tablets. The shares traded down $0.24 (0.56%) recently at $42.85.
MetroPCS Communications, Inc. (NYSE:PCS) announced today that the first U.S. smartphone from new handset partner Coolpad Americas, the Coolpad Quattro™ 4G, is available. At $149 plus tax, the Quattro 4G offers a second option for MetroPCS customers who are searching for a feature-rich, affordable 4G LTE Android™ smartphone and can be used with MetroPCS’ 4G LTE service plans beginning as low as $40 per month, with all applicable taxes and regulatory fees included and no annual contract. The shares traded down $0.13 (1.33%) recently at $9.61.
JDS Uniphase Corporation (NASDAQ:JDSU): Several networking equipment makers are retreating following Ciena’s (NASDAQ:CIEN), which develops communications networking products, report of lower than expected Q3 earnings per share and provided Q4 revenue guidance coming far below analysts’ consensus estimate. Ciena stated that it has been hurt by the macroeconomic slowdown, along with slower than expected launches of new design wins. In late morning trading, Juniper (NYSE:JNPR) decreased 4.27 percent to $17.69, Finisar (NASDAQ:FNSR) dropped 5.58 percent to $14.55, JDS Uniphase (NASDAQ:JDSU) fell 4.44 percent to $11.23, Tellabs (NASDAQ:TLAB) dropped 2.90 percent to $3.52, Cisco (NASDAQ:CSCO) fell 1.43 percent to $18.92, and Oclaro (NASDAQ:OCLR) fell 3.85% to $2.62. The shares traded down $0.60 (5.11%) recently at $11.15.
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