Sprint (S) Stock Recovers After Dropped T-Mobile (TMUS) Deal

NEW YORK (TheStreet) -- Sprint  (S) recovered Thursday after the third-largest U.S. wireless carrier dropped its bid to merge with fellow carrier T-Mobile  (TMUS).

Sprint plunged Wednesday after news broke that the company had ended merger talks with the fourth-largest U.S. wireless carrier, and French wireless company Iliad reportedly resumed its talks to acquire 56.6% of T-Mobile for approximately $15 billion.

Sprint also named Marcelo Claure as its new CEO to replace Dan Hesse. The 43-year-old Claure founded mobile-phone distributor Brightstar.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Sprint was up 1.52% to $5.99 at 10:18 a.m.

S Chart S data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

More from Markets

Dow and S&P 500 Finish Higher Amid Strong Corporate Earnings

Dow and S&P 500 Finish Higher Amid Strong Corporate Earnings

Veteran Foreign Affairs Expert Ian Bremmer Reveals How to Price Political Risk

Veteran Foreign Affairs Expert Ian Bremmer Reveals How to Price Political Risk

Investors Shouldn't Be Worried About Trump's Trade Tariffs: Ian Bremmer

Investors Shouldn't Be Worried About Trump's Trade Tariffs: Ian Bremmer

3 Hot Reads From TheStreet's Top Premium Columnists

3 Hot Reads From TheStreet's Top Premium Columnists

NYSE Suspends Trading for Some Shares of Nasdaq-Listed Amazon, Alphabet

NYSE Suspends Trading for Some Shares of Nasdaq-Listed Amazon, Alphabet