Sprint Nextel Stock Falls On Unusually High Volume (S)

NEW YORK ( TheStreet) -- Sprint Nextel (NYSE: S) is trading at unusually high volume Friday with 164.8 million shares changing hands. It is currently at two times its average daily volume and trading down 24 cents (-3.3%) at $6.94 as of 1:10 p.m. ET.

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Sprint Nextel has a market cap of $21.67 billion and is part of the technology sector and telecommunications industry. Shares are up 26.6% year to date as of the close of trading on Thursday.

Sprint Nextel Corporation, through its subsidiaries, offers a range of wireless and wireline communications products and services to individual consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the U.S. Virgin Islands.

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 increase in net income. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, weak operating cash flow and generally higher debt management risk. You can view the full Sprint Nextel Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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