Sprint Nextel Corp (S): Today's Featured Telecommunications Laggard
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. Sprint Nextel (S) pushed the Telecommunications industry lower today making it today's featured Telecommunications laggard. The industry as a whole closed the day up 0.7%. By the end of trading, Sprint Nextel fell 11 cents (-2.1%) to $5.09 on heavy volume. Throughout the day, 115.9 million shares of Sprint Nextel exchanged hands as compared to its average daily volume of 67.6 million shares. The stock ranged in price between $4.92-$5.21 after having opened the day at $5.02 as compared to the previous trading day's close of $5.20. Other companies within the Telecommunications industry that declined today were: Leap Wireless International (LEAP), down 6.1%, Linktone (LTON), down 5.2%, RIT Technologies (RITT), down 4.2%, and WPCS International (WPCS), down 3.6%.
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