NEW YORK (TheStreet) -- Sprint  (S - Get Report) 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.

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

S Chart S data by YCharts

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