Sprint's Instinct Looking Good

Sprint Nextel (S Quote) may be seeing customer attrition bottom out, according to rumors that rivals AT&T (T Quote) and Verizon (VZ Quote) 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." ...