T-Mobile Gains on Cheap iPhone Plans, Synchronoss Plunges on Verizon Fears: Telecom Winners & Losers

NEW YORK (TheStreet) -- T-Mobile (TMUS) rose 1.6% to $43.03 as the company said it was celebrating "record-shattering demand" for pre-orders of Apple's (AAPL) new iPhone 6s, which it's offering for as little as $5 a month.

The new phones will be available at T-Mobile stores starting Friday, the company said.

The new pricing option comes as T-Mobile has been gaining market share by slashing prices, and as the four main carriers in the U.S. are competing for subscribers in a mature market with little growth, the Wall Street Journal reported.

The T-Mobile offer compares with Sprint's (S) leasing plan, which runs for as low as $15 a month over a 22-month lease; Verizon's (VZ) , which costs $27.08 a month for 24 months, and AT&T's (T) , which calls for payments of $21.67 for 30 months, according to the newspaper.

Sprint fell 1.4% to $4.34, Verizon declined 1% to $43.99 and AT&T decreased 0.2% to close at $32.20.


Synchronoss (SNCR) plunged 11% to $33.37 on concerns over its cloud-storage relationship with Verizon.

An analyst note suggested that Verizon was changing the pricing for its cloud offering, according to StreetInsider.com.

Other analysts urged investors to buy the stock on Wednesday, saying the market was overreacting, the Web site reported. JPMorgan's Sterling Auty told StreetInsider that Verizon recently renewed its contract with Synchronoss for multiple years, meaning there's "no chance of losing them in the near term."

If you liked this article you might like

Amazon Roadkill; Northrop Deal Synergies -- Jim Cramer's Top Thoughts

Irma and Harvey Busted Algos; Probably Done Deals Under Trump: Best of Cramer

North Korea Threats and Fed Actions: Here's How Markets Ended the Week.

S&P 500, Nasdaq Shake Off North Korea Threat to Bounce Higher at Week's End

Sprint T-Mobile Merger Will Have to Contend With This Wonky Number the DOJ Uses