NEW YORK (TheStreet) -- Clearwire (CLWR) was the big gainer in premarket trading on Wednesday, lifted by Dish Network's (DISH) offer to acquire the wireless service provider for $3.30 a share, or $5.15 billion.
Late on Tuesday, Clearwire confirmed that it received the unsolicited offer from Dish Network. The latest bid tops an earlier offer from Sprint Nextel (S).
The news pushed Clearwire's shares up 7.88% to $3.15 before market open. Sprint shares, however, tumbled 2.51% to $5.82.
Clearwire was also the most active premarket Nasdaq stock on share volume of 17,577,665.Last month, Clearwire and Sprint entered into an agreement for Sprint to acquire the roughly 50% stake in Clearwire it does not already own for $2.97 a share. In its statement released on Tuesday, Clearwire said that that a special committee of its board will engage with Dish Network to discuss its proposal. "The Special Committee has not made any determination to change its recommendation of the current Sprint transaction," it added. Seagate (STX) was another big gainer in premarket trading after the hard drive maker reported better-than-expected preliminary second-quarter revenue. The Cupertino, Calif.-based firm expects to report revenue of at least $3.6 billion in the three months through December, up from a previous forecast of about $3.5 billion. It will release its full results later this month. Seagate shares climbed 3.01% to $32.34 on share volume of 51,401. Facebook (FB) was another gainer, rising 1.79% to $29.58 on share volume of 415,035, while Apple (AAPL) dipped 0.57% to $522.31 on share volume of 51,114 as the iPhone rumor mill continues to churn. Graphics chip maker Nvidia (NVDA), which has been busy at the Consumer Electronics Show in Las Vegas this week, rose 1.51% to $12.68. Get the latest news coming out of CES with TheStreet's live blog: --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
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
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV