Tech Winners & Losers: Research In Motion

Sprint posted a first-quarter loss of $505 million, or 18 cents a share, more than doubling the loss of $211 million, or 7 cents a share, from a year ago. Excluding charges, it earned 4 cents a share topping the consensus estimate of 2 cents. Net operating revenue declined 8% to $9.33 billion and was lower than Street expectations of $9.41 billion.

Shares of wireless broadband provider Clearwire(CLWR Quote - Cramer on CLWR - Stock Picks) fell $1.03, or 7.3%, to $13.07 after iPCS, the largest independent affiliate of Sprint Nextel, sued Clearwire to block it from forming a new venture in partnership with Sprint Nextel.