Sprint Nextel: S&P Intraday Laggard

NEW YORK ( TheStreet) -- Sprint Nextel ( S) was the worst-performing stock in the S&P 500 Monday morning.

The S&P 500 rose 2.1 points, or 0.15%, to 1,406.21.

Shares of Sprint fell 3.98% to $2.78. The telecommunications company is ending its partnership with LightSquared. Lightsquared was to have paid $9 billion and give an additional $4.5 billion in credits to Sprint to build out an LTE network.

In news Monday, Sprint was downgraded by Bernstein analysts on Monday to underperform from market perform, according to CNBC.

Twenty-three of the 34 analysts who cover Sprint rated it hold. Eight analysts gave the stock a buy rating and three rated it sell.

TheStreet Ratings gives Sprint a D grade and sell rating. The stock has risen 19.44% year to date.

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-- Written by Alexandra Zendrian

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