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Stock Market & Financial Investment News

News Breaks
April 8, 2013
18:26 EDTCLWR, SFCC commissioner's report refutes Sprint study on value of Clearwire
A new study by Harold Furchtgott-Roth, a former commissioner of the FCC, disputes the conclusions of a study commissioned by Sprint Nextel (S) and a separate institutional equity research report published by DA Davidson about the value of Clearwire (CLWR). Furchtgott-Roth said that the Sprint study authored by Dr. Kostas Liopiros -- "Value and Utility of the U.S. 2.5 Ghz Spectrum Band" -- is "unreliable." He said it misstates the value of Sprint's offer for Clearwire and is inconsistent with the public representations of Clearwire officers and the publicly reported financial statements of Clearwire. The Furchtgott-Roth report was funded by Crest Financial Limited, the largest minority shareholder of Clearwire, and was filed by Crest with the FCC and the SEC. According to Furchtgott-Roth: "Throughout the Liopiros Report are statements that implicitly call into question the integrity and reliability of the financial statements of Clearwire. The Liopiros Report states that the value of higher frequency spectrum is less than lower frequency spectrum; the Clearwire financial statements make no such adjustments. The Liopiros Report states that EBS spectrum is worth substantially less than BRS spectrum; the Clearwire financial statements do not treat its EBS and BRS spectrum differently. The Liopiros Report states that unpaired spectrum is worth substantially less than paired spectrum; the Clearwire financial reports make no such distinction or adjustment in value. An analysis of the Clearwire financial statements reveals a value of the Sprint offer of $2.97 per share corresponds to a value of 11c per Mhz pop. The Liopiros Report states the value is 21c per Mhz pop." Furchtgott-Roth further said that the DA Davidson report -- Institutional Equity Research, "Clearwire Corp.," dated April 1, 2013 - repeats the mistaken valuation of the Sprint offer and makes the error of valuing the Sprint offer at 21c or even 22c per Mhz pop, primarily by not excluding the value of other assets. Furchtgott-Roth said that the DA Davidson report "seems to take a rather unsubstantiated and dim view of the accuracy of Clearwire's financial records and any report based upon them."
News For S;CLWR From The Last 14 Days
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January 26, 2015
06:44 EDTSSoftbank awaiting Yahoo announcement on Alibaba, WSJ says
Yahoo's (YHOO) upcoming announcement regarding its 15% Alibaba (BABA) stake and 35.5% Yahoo Japan stake may affect Softbank's (SFTBF) plans for Alibaba, reports the Wall Street Journal's Digits blog, citing an SMBC Nikko analyst. Sprint (S)-owner Softbank has a 32% stake in Alibaba and a 43% stake in Yahoo Japan. Analysts say Softbank is unlikely to purchase Yahoo's shares in either company, though a Yahoo Japan buyback is "more plausible." Reference Link
06:31 EDTSCablevision to launch cheap mobile phone service, NY Times says
Cablevision (CVC) intends to unveil later today a cheap, Wi-Fi based mobile phone service, according to The New York Times. The first service of its kind to be introduced by a cable company, the offering will include unlimited data, talking and texting worldwide for $29.95 a month, or $9.95 a month for Cablevisionís Optimum Online customers, the newspaper stated. Incumbent wireless carriers include Verizon (VZ), AT&T (T), T-Mobile (TMUS), and Sprint ()S). Reference Link
January 23, 2015
09:04 EDTSSprint guarantees T-Mobile customers $200 minimum trade in value for smartphones
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January 22, 2015
19:40 EDTSGoogle's entrance into telecommunications may not be beneficial, Re/code says
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January 21, 2015
16:28 EDTSGoogle to launch phone service with Sprint, T-Mobile, The Information says
Google (GOOG, GOOGL) is expected to reach deals to buy wholesale access to Sprint (S) and T-Mobileís (TMUS) voice and data networks in order to sell mobile phone plans directly to customers, according to The Information, citing three people with knowledge of the plans. Google, which may put itself into competition with carrier leaders Verizon (VZ) and AT&T (T) with the new service, "seems likely" to launch the offering this year, according to the report. Reference Link
January 20, 2015
06:24 EDTST-Mobile warns of unsustainable costs against cellphone giants, Re/code says
T-Mobile (TMUS) owner Deutsche Telekom (DTEGY) claims Verizon (VZ) and AT&T's (T) wealth makes true competition difficult, reports Re/code, citing statements made at Germany's DLD conference. Deutsche Telekom CEO Tim Hoettges stated the dominance of AT&T and Verizon allowed them to make huge bids at the latest midband spectrum auction to further their market lead. Hoettges also stated he was "intrigued" by last year's unsuccessful merger talks with Sprint (S), and warned that T-Mobile's $4B-$5B investment requirements per year are unsustainable. Reference Link
January 16, 2015
11:42 EDTSSprint announces expansion of Sprint Lease program
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10:12 EDTSSprint unit Virgin Mobile to offer no contract data sharing plans
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January 15, 2015
15:33 EDTSRadioShack in talks for bankruptcy loan with lenders, Bloomberg says
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