Clearwire ( CLWR) pushed the Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day down 1.4%. By the end of trading, Clearwire rose 2 cents (1.7%) to $1.20 on light volume. Throughout the day, 8.4 million shares of Clearwire exchanged hands as compared to its average daily volume of 16 million shares. The stock ranged in a price between $1.15-$1.22 after having opened the day at $1.16 as compared to the previous trading day's close of $1.18. Other companies within the Technology sector that increased today were: Hoku ( HOKU), up 59.2%, Nortech Systems Incorporated ( NSYS), up 29.1%, NCI ( NCIT), up 28.2%, and Neonode ( NEON), up 28%. Clearwire Corporation, through its subsidiaries, provides fourth generation wireless broadband services in the United States. The company builds and operates mobile broadband networks that offer high-speed mobile Internet and residential Internet access services. Clearwire has a market cap of $596 million and is part of the telecommunications industry. Shares are down 39.2% year to date as of the close of trading on Tuesday. Currently there are two analysts that rate Clearwire a buy, one analyst rates it a sell, and 10 rate it a hold. TheStreet Ratings rates Clearwire as a sell. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, generally disappointing historical performance in the stock itself and generally weak debt management.
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.