This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sprint's Instinct Looking Good

Sprint Nextel (S) may be seeing customer attrition bottom out, according to rumors that rivals AT&T (T - Get Report) and Verizon (VZ - Get Report) are seeing fewer subscribers swap over from the struggling wireless provider.

Rumors have surfaced that the investor relations departments for both Verizon and AT&T were telling individual shareholders that fewer telephone numbers were being ported over from Sprint's wireless network. That speculation offers an explanation as to why Sprint shares have jumped 15% during the same week that the Dow Jones Industrial Average dropped 4% to its lowest level in 2008.

AT&T spokesman Michael Coe said the company was offering no comment on the speculation. Verizon spokesman Jim Gerace took a harder stance, saying that "Sprint continues to be our largest source of port-ins."

Gerace did acknowledge that Verizon's investor relations department has received several questions on the subject of ported numbers from Sprint, but he added that the company does not provide raw porting figures.

Sprint spokesperson James Fisher said the company would not comment on the rumor, adding that the second quarter is ending next week and that the company would not have any wireless churn data until its next earnings release in August.

"The fact that AT&T and Verizon are seeing fewer ports should not be too surprising," says Steve Clement, analyst with Pacific Crest Securities. "We're expecting churn to improve quarter-over-quarter for Sprint. However, there's no way of knowing how significant that is yet, and whether or not it justifies the price move in the stock."
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.24 -0.41%
S $3.44 -0.86%
T $38.74 -0.36%
VZ $50.84 0.00%
FB $117.81 -0.21%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs