In a filing with the Securities and Exchange Commission, Sprint said that it plans to acquire Sprint stock that it does not already own for $2.90 a share, a deal worth around $2.1 billion.
Clearwire shares climbed 10.55% to $3.04 before market open on share volume of 25,256,169.
Sprint shares dipped 0.71% to $5.62.Ciena (CIEN - Get Report) was another gainer, rising 3.4% to $16.10, while RF Micro Devices (RFMD - Get Report) gained 3.41% to reach $4.55. Research In Motion (RIMM), which has enjoyed strong momentum recently ahead of its BlackBerry 10 launch next year, was also a gainer. The Canadian handset maker's shares rose 0.98% to $13.44. Ericsson (ERIC - Get Report) rose 0.52% to $9.69. Apple (AAPL - Get Report) shares, however, dipped 1.6% to $530.36. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: email@example.com.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts