If you enjoy the content at iBankCoin, please follow us on Twitter(Reuters) – Sprint Nextel shares (NYSE:S – News) fell 8 percent on Monday as analysts slashed their forecasts for the No. 3 U.S. mobile operator, which said last week that would have to raise new capital.
Sprint shares fell 20 cents to $2.21 after analysts cut their price targets for the stock and forecast free cash flow losses. S&P gave Sprint debt a “watch negative” rating.
The company discussed a costly network upgrade plan at a conference on Friday, telling investors that it would need to tap capital markets, even before accounting for big additional costs it expects from subsidizing sales of the new Apple Inc (NasdaqGS:AAPL – News) iPhone. (ID:nN1E7960J0)
UBS analyst John Hodulik estimated that Sprint would incur a free cash flow loss of $2.5 billion over the next two years and worried how it would pay for upcoming debts.
Joined Nov 11, 2007
31,929 Blog Posts
ha ha .assholes,looks like karma came around real quick for them,indeud. and deservedly so right in the arse.all some good telecom with a brain amongst them has to do is scoop up clwr. then the real karma could go another circle…..