NEW YORK ( TheStreet) - Clearwire ( CLWR) was the biggest gainer in premarket trading on Thursday, after Sprint ( S) revealed its intention to buy out the wireless specialist. 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) was another gainer, rising 3.4% to $16.10, while RF Micro Devices ( RFMD) 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) rose 0.52% to $9.69. Apple ( AAPL) 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.
During a conference call with analysts, satellite TV tycoon expounds upon possibility of a merger with T-Mobile or DirectTV, his pursuit of Sprint and Clearwire, and allegations of fraud in LightSquared bankruptcy.