Qwest (Q) CEO Ed Mueller says the company’s migration of its wireless service offering to Verizon (VZ) is going smoothly. Qwest is switching from selling a Qwest-branded wireless service in which it resold service from Sprint (S) to a co-branded offering from Verizon; the company started rolling out its new Verizon by Qwest wireless service two weeks ago.
On July 3, Chief Judge Vaughn Walker of the U.S. District Court in California made a ruling particularly worthy of the nation’s attention. In Al-Haramain Islamic Foundation Inc. v. Bush, a key case in the epic battle over warrantless spying inside the United States, Judge Walker ruled, effectively, … that the president lacks the authority to disregard the Foreign Intelligence Surveillance Act, or FISA.
The telecom company’s shares are up today for the fourth session in a row; in that period the stock has gained $1.21, or 15.8%, to $8.92. (That includes a gain of 8 cents today.) The move has pushed up Sprint’s market cap by $3.5 billion. Just why the stock is rallying is not entirely clear.
New York Attorney General Andrew Cuomo announced on Tuesday that Verizon Communications, Time Warner Cable and Sprint would “shut down major sources of online child pornography.” What Cuomo didn’t say is that his agreement with broadband providers means that they will broadly curb customers’ access to Usenet–the venerable pre-Web home of some 100,000 discussion groups, only a handful of which contain illegal material.
Novatel Wireless shares are up sharply today after Morgan Joseph analyst Keven Dede upped his rating on the company to buy from hold, setting a price target of $13.
Dede notes that investment presentations by both Novatel and rival wireless broadband card maker Sierra Wireless “included the point that June quarter product sales have remained at solid levels.”
Last week, three of the nation’s largest cable companies quietly pulled the plug on a joint cellphone venture with Sprint Nextel Corp. called Pivot. The goal of this service offering was to help the cablers compete with the Telco Triple Play (video, voice and data). In theory, a Quadruple Play (video, voice, data plus a mobile phone) would seal the deal and make the cable offer irresistible to consumers. In practice, it just didn’t work.
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