Sprint Nextel’s Q2 financial report drew praise from analysts, who...
Sprint Nextel’s Q2 financial report drew praise from analysts, who looked past the carrier’s $1.37 billion quarterly net loss (CD July 27 p19) to praise indicators they said show its turnaround strategy is working. “Give credit where credit is due,”…
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Wells Fargo’s Jennifer Fritzsche wrote. “Sprint held its own and clearly gained share in subs during the quarter.” Credit Suisse Equity Research’s Jonathan Chaplin wrote “we got everything we were looking for and then some” out of the report. UBS Investment Research upgraded its rating on Sprint’s stock Friday from “Neutral” to “Buy.” The stock rose 20 percent Thursday, and closed up another 6.4 percent to $4.31 Friday.