Sprint Nextel Corporation (NYSE:S) shares gained
13.69% to $5.72 in the morning hour and made a new high of $5.98. As per
reports from Reuters, Softbank Corp is in talks
to buy a majority stake in Sprint Nextel for more than 1 trillion yen
($12.8 billion). Softbank said reports about the talks were based on
speculation and it had no comment. Sprint declined to comment.
Additionally, the company is holding off on an
immediate counterbid for MetroPCS Communications Inc(NYSE:PCS) to gain time to
scrutinize the carrier’s planned combination with T-Mobile USA Inc.
The news is severely impacting two other stocks- MetroPCS
Communications Inc(NYSE:PCS) slumped 6.50%, while Clearwire
Corporation(NASDAQ:CLWR) soared 30% as Sprint holds 49% of struggling the company.
Tesla Motors Inc(NASDAQ:TSLA) stock increased 0.53%
to $28.55. Tesla Motors‘stock had its “buy” rating reconfirmed by research
analysts at Jefferies Group in a report released this week.
Additionally, the company received a $10 million
grant from California to buy assembly equipment and add 500 workers to build a
rechargeable sport-utility vehicle in the state.
Leap Wireless International, Inc.(NASDAQ:LEAP)
shares climbed 0.71% to $5.96 in the early hour after the company announced the
syndication and closing of the previously announced $400 million senior secured
term loan facility for its wholly-owned subsidiary, Cricket Communications. Net
proceeds from the term loan facility will be used to redeem all of Cricket's
$300 million in aggregate principal amount of outstanding 10% Senior Notes due
2015 and for general corporate purposes. Leap also announced that Cricket today
issued a notice of redemption to redeem all of its 2015 Notes in accordance
with the indenture governing the 2015 Notes.
Additionally, Leap Wireless stock was upgraded by
investment analysts at Oppenheimer from a “market perform” rating to an
“outperform” rating in a note issued to investors today.
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