The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.Carrier--Barclays Capital lowered its price target on Sprint Nextel to $5 from $10 an lowered its 2009 EPS estimate to a loss of 13 cents...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.Carrier--RBC Capital Markets downgraded Clearwire to sector perform from outperform and lowered its price target to $9 from $15 on more conservative valuation.--RBC Capital Markets...
NORTEL NETWORKS CORP. FACES AN UPHILL CLIMB following a third quarter where the company reported losses of $3.4 billion and said it would cut thousands of jobs and say goodbye to a number of high-ranking executives.Analysts said tough times are ahead and one even...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.Carrier--Credit Suisse First Boston lowered its price target on Leap Wireless to $55 from $70 despite solid third-quarter results and positive fourth-quarter trends. CSFB said...
The mobile virtual network operator market continues to proffer a mixed bag for those that continue to dabble in its murky waters. One of the segments stalwarts, Virgin Mobile USA Inc., posted third-quarter results last week highlighting struggles, but industry analyst expect the current...
Amid an economic downturn, Nortel Networks Corp. is cutting jobs and restructuring after posting $3.4 billion in losses for the third quarter.During a conference call, CEO Mike Zafirovski said the Canadian networking equipment company would eliminate 1,300 jobs and a total of 2,500 jobs...
With the wireless industry's nationwide players having posted third-quarter results, it appears that the market is quickly changing from a battle of the big 4 to a war between the big 2. Last week, the industry's No. 3 and No. 4 operators, Sprint Nextel...
Once again, Sprint Nextel Corp. has sent over a million of its customers running for the hills.The carrier reported that it lost 1.3 million customers during the third quarter. Of the customers who left, 1.1 million were postpaid subscribers and 329,000 were prepaid. Those...
Financial news in just the past few weeks has led Qualcomm Inc. to forecast "meaningfully less" growth in CDMA-based handset markets for calendar year 2009. The chip and IP-licensing firm cited slower consumer purchasing than previously anticipated and a purposeful contraction in channel inventory...
The third quarter was a rough one for T-Mobile USA Inc. The carrier posted the lowest number postpaid net additions - 293,000 - since its inception in 2001, according to Kate Price of Technology Business Research Inc."Some high-value, postpaid subscribers were likely drawn to...
U.S. Cellular Corp. reported losing a total of 18,000 customers during the third quarter, a significant turn-around from the gains it has enjoyed over the past several quarters.John E. Rooney, U.S. Cellular president and CEO, expressed dissatisfaction."We added 12,000 retail postpay customers in the...
Shares of Glu Mobile Inc. continued to slide after the mobile game maker posted a $56.9 million quarterly loss.The San Mateo, Calif.-based publisher reported third quarter revenue of $23.9 million, up 44% from the same period last year, thanks largely to increased sales in...
MetroPCS Communications Inc. posted its full, third-quarter earnings report, along with news that it is now up and running in new Michigan markets. The carrier, which previously announced that it added 249,000 customers during the third quarter, launched service in Flint, Lansing, Saginaw and...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.Carrier--Standard & Poor's revised its outlook on BT Group PLC, a subsidiary of British Telecommunications, to negative from stable following the company's report of...
Despite some financial hiccups, Alltel Communications L.L.C. managed to acquire more than 1 million gross customer additions during the third quarter, a 28% increase from a year ago. The carrier recorded 335,152 net customer adds, with 255,299 of those signing up for postpaid plans.Alltel's...
Gameloft offered a surprisingly upbeat outlook for mobile gaming as it posted $34.1 million in third-quarter revenues.The Paris-based game maker reported an 8% increase from last year's revenues during the same period, and generated $99.6 million during the first nine months of 2008 -...
Alcatel-Lucent posted another loss in the third quarter as new leadership vowed to return the world's largest telecommunications equipment maker to profitability.The French-U.S. company reported a net loss of $51 million, a 43% decrease from the $445 million the company reported for the third...
Motorola Inc. lost $397 million on $7.5 billion in revenue across all its businesses in the third quarter and said today it would delay its plan to spinoff its handset division until sometime after 2009.And in a move to cut costs, the company said...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.Carrier--RBC Capital Markets lowered its price target on Verizon to $30 from $31 on in-line third-quarter financial results. R.W. Baird lowered its 2009 EPS estimate...
Verizon Wireless added 2.1 million customers during the third quarter, just slightly behind numbers posted by rival AT&T Mobility last week.In organic growth, Verizon added 1.5 million retail net customer additions, essentially all postpaid, the carrier said in a press release. AT&T Mobility, however,...
Samsung Electronics Co. Ltd. beat expectations on handset shipments in the third quarter, and gained market share partly through aggressive pricing. Handsets drove the Korean conglomerate's revenue in the quarter as the company's semiconductor business lagged. The results appeared to reflect Samsung's push into...
AT&T MOBILITY POSTED A COMPANY RECORD 2 million net customer additions during the third quarter, fueled by strong sales of Apple Inc.'s 3G iPhone, but that growth also took a bite out of the carrier's bottom line.The industry's No. 1 carrier reported that its...
CEO Steve Jobs joined Tuesday's conference call to assure investors that Apple Inc. will maintain its gross profit margins despite the economic downturn. If Apple's customer base is under financial strain, consumers are likely to postpone an Apple purchase, rather than seek a cheaper...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.Handset and infrastructure vendors--Barclays Capital adjusted its estimates on Ericsson after the company reported strong third-quarter results but flat guidance for 2009. New estimates are...
