Top U.S. telecommunications executives Thursday gave a mixed outlook on the economy, saying business conditions have stabilized but they don’t see signs of a quick recovery.
The telecom industry has been relatively shielded from the worst effects of the downturn thanks to the growing need for wireless and Internet services. But it isn’t completely immune, as carriers face continued landline losses, weak demand from businesses and pricing pressure in wireless.
Dell CEO Michael Dell has done little to dispel rumors that his company is working on a mobile computing device. In fact, he all but confirmed them while traveling in Japan on March 24 when he said: “It is true that we are exploring smaller-screen devices.” What form those devices will take remains a matter of heated debate.
by Eric Savitz, Blogger and Columnist, Barron's, Tech Trader Daily
Sprint? More like “Splint.” The company’s revenue, posted this morning, fell 12 percent from last year–wireless revenue was down 13 percent. Sprint did not give a specific financial forecast.
by Tiernan Ray, Blogger, Barron's, Tech Trader Daily
In wireless, it appears, the old adage applies: The rich get richer. The poor? Not so much. AT&T and Verizon Wireless are reporting impressive numbers while everyone else (Sprint Nextel, T-Mobile, Metro PCS and Leap Wireless) is not. The gap between the tiers in the market are “stark,” according to Sanford Bernstein analyst Craig Moffett.
by Tiernan Ray, Blogger and Columnist, Barron's, Tech Trader Daily
Hard to know what to get excited about regarding David Faber’s report on CNBC this morning, alleging that Sprint Nextel (S) is in talks with various parties that are “not informal”–in Faber’s words–to sell its struggling Nextel unit.
by Tiernan Ray, Blogger and Columnist, Barron's, Tech Trader Daily
Shares of Sprint-Nextel (S) are soaring this morning after the company confirmed rumors last night that it canceled the sale of $3 billion of convertible bonds that threatened common stock holders with substantial dilution. According to the press release, Sprint nixed the deal because “the terms being offered were not economically attractive due to unfavorable market conditions.”
by Eric Savitz, Blogger and Columnist, Barron's, Tech Trader Daily
Not a very encouraging quarter for Sprint-Nextel (S).
The telecom giant posted Q3 revenue of $9.1 billion, with a loss of 12 cents a share; the Street had expected $9.2 million and a profit of 3 cents.
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