Tech: Sprint Nextel Soars On Buyout Reports (S, CLWR, RVBD, NOK, SIRI)
Sprint Nextel Corporation(NYSE:S) soared 13.10% to $5.70 on a traded volume of 110.53 million shares.Softbank Corp is in advanced talks to acquireSprint Nextel Corporation. The deal is expected to exceed $12.81 billion in total value. The value of the deal would presumably be for a majority stake, but not the entirety of the company, as Sprint currently has an Enterprise Value of over $30 billion.
Clearwire Corporation(NASDAQ:CLWR) augmented 29.99% to $1.69 on a traded volume of 15.35 million shares.The Company announced that Hope Cochran will speak at the Deutsche Bank 20th Annual Leveraged Finance Conference on October 11, 2012.The Company is a leading provider of 4G wireless broadband services offering services in areas of the U.S. where more than 130 million people live.
Riverbed Technology Inc (NASDAQ:RVBD) surged up 2.63% to $22.24.The Company is introducing hardware appliance models and software enhancements to its Riverbed Steelhead product family. Riverbed said the performance delivered by the new releases better enables global enterprises to consolidate and scale their IT from the data center and the branch to mobile workers, and to realize the benefits of modern data center transformation.
Nokia Corporation (ADR)(NYSE:NOK) went up 2.69% to $2.53 on a traded volume of 2.48 million shares.The Company has tied up with AT&T Incto offer its latest range of smartphones, which runs on Windows phone 8 operating system. AT&T will become the first carrier in the U.S. to offer Lumia 920 and 820 when it will start selling the smartphone range from the next month.
Sirius XM Radio Inc(NASDAQ:SIRI) went up 0.55% to $2.77 on a traded volume of 8.79 million shares.The Company will have to install over 600 new ground terminals across North America as the company is planning to shut down the three satellites in elliptical orbit and will replace them with two satellites in conventional geostationary orbit.
The Company intends to release third quarter 2012 financial and operating results on October 30, 2012.