New Proof That Sprint Is Doomed

Investing

Published: October 26, 2011 10:00 am

The shares of Sprint-Nextel (NYSE: S) have been reeling all morning and have fallen by more than 7% to $2.50, not far above a 52-week low of $2.10. Wall St. has become more convinced by the day that the company is doomed. Sprint management said that Apple (NASDAQ: AAPL) iPhone sales were ahead of expectations, but did not say how much, which is likely to annoy already rebellious shareholders.

Revenue of the No.3 wireless carrier rose only 2% to $8.3 billion. Sprint had a net loss of $301 million. Beyond that, the company posts a large number of nearly useless financial tables in its earnings release which makes it difficult for investors to decode Sprint’s situation.

Sprint added nearly 1.3 million total net wireless subscribers, primarily driven by 304,000 net postpaid additions for the Sprint brand, net prepaid additions of 485,000 and net wholesale and affiliate additions of 835,000. That is not much compared to advances by AT&T (NYSE: T) Wireless and Verizon Wireless. The AT&T buyout of T-Mobile is in trouble, but not dead, Sprint is, if the merge goes through.

Douglas A. McIntyre

Travel Cards Are Getting Too Good To Ignore (sponsored)

Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.

We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.

It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.

We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.