Sprint Nextel Corp (S): Today's Featured Technology Winner - TheStreet

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

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Sprint Nextel

(

S

) pushed the Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day up 1.4%. By the end of trading, Sprint Nextel rose 14 cents (2.6%) to $5.60 on light volume. Throughout the day, 41.4 million shares of Sprint Nextel exchanged hands as compared to its average daily volume of 65.1 million shares. The stock ranged in a price between $5.49-$5.63 after having opened the day at $5.55 as compared to the previous trading day's close of $5.46. Other companies within the Technology sector that increased today were:

Alvarion

(

ALVR

), up 21.7%,

XRS

(

XRSC

), up 20%,

Globalstar Incorporated

(

GSAT

), up 15%, and

Helios & Matheson Information Technology In

(

HMNY

), up 15%.

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Sprint Nextel Corporation, together with its subsidiaries, offers wireless and wireline communications products and services to individual consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the United States Virgin Islands. Sprint Nextel has a market cap of $16.59 billion and is part of the

telecommunications

industry. Shares are up 133.3% year to date as of the close of trading on Wednesday. Currently there are 10 analysts that rate Sprint Nextel a buy, four analysts rate it a sell, and 12 rate it a hold.

TheStreet Ratings rates Sprint Nextel as a

hold

. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and generally higher debt management risk.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider

Technology Select Sector SPDR

(

XLK

) while those bearish on the technology sector could consider

ProShares Ultra Short Technology

(

REW

).

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