Leap Wireless International Inc.'s stock took a major hit this morning. The flat-rate wireless carrier, which until recently had been courted by MetroPCS Communications Inc. with an unsolicited $5.1 billion merger bid, released preliminary financial results for the third quarter and announced it will...
Wireless broadband service provider Clearwire Corp.'s losses widened substantially during the third quarter, with higher revenues more than offset by a $159 million charge related to the refinancing of some of Clearwire's debt.The company reported a net loss of nearly $185 million for the...
Shares of InPhonic Inc. continued their free-fall as the online wireless retailer filed for Chapter 11 protection and said it will sell "substantially all" of its assets to Versa Capital Management, a Philadelphia-based private-equity firm.InPhonic operates white-label customer service sites as well as the...
Qualcomm Inc.'s earnings in the fiscal fourth quarter and full year showed year-on-year improvements, but a modest outlook for the fiscal first quarter sent its shares down around 6% in after-hours trading. The stock was down around 3% this morning.The San Diego-based chip vendor...
With the launch of WiMAX trial markets just weeks away, Sprint Nextel Corp. says it is re-examining its WiMAX business plans and has abandoned a partnership with Clearwire Corp. intended to promote a faster, cheaper deployment of the technology by splitting the costs between...
T-Mobile USA Inc. added 857,000 net subscribers to its network during the third quarter, numbers primarily driven by the carrier's prepaid offering. The carrier had added 802,000 net subscribers during the third quarter of last year, but a higher percentage of them were signed...
Sprint Nextel Corp. announced it will pro-rate its early termination fees for customers, the last of the four national wireless carriers to do so.Sprint Nextel's move comes on the heels of T-Mobile USA Inc.'s announcement yesterday that it will begin pro-rating ETFs in...
Tellabs Inc. announced that Krish Prabhu plans to resign as president and CEO by March 1, 2008. Prabhu, 53, has served in the positions at Tellabs since 2004. Tellabs' stock fell more than 4% to $7.69 following the news."The Tellabs team has successfully broadened...
Towerstream Corp.'s stock slipped a little more than 4% to $2.50 per share after the company reported a net loss of $1.75 million for the third quarter. Revenues for the quarter just barely surpassed the overall loss the company suffered. The fixed WiMAX service...
Hello! And welcome to our Thursday column, Worst of the Week. There's a lot of nutty stuff that goes on in this industry, so this column is a chance for us at RCRNews.com to rant and rave about whatever rubs us the wrong way....
Samsung Electronics Co. Ltd. awarded its $600 million media-buying account to Publicis Groupe's Starcom, according to executives familiar with the situation.Starcom prevailed in a review that also included WPP Group's MindShare, which handled media duties in about 60 markets, including the United States, where...
Nortel Networks Corp. stock jumped 18% to $19.40 yesterday when the infrastructure vendor reported earnings of $27 million during the third quarter, up from the $63 million it lost in the year-ago period. The stock leveled off this morning at around $18.82 per share.Nortel...
As the pace of convergence quickens, Nokia Corp. cut a deal with wireless telecom giant Vodafone Group plc to integrate mutual service offerings designed to grab eyes, ears and wallets-as competitors from within and without the wireless industry rapidly move in with similar treats.Vodafone-one...
Like rival Nokia Corp., Sony Ericsson is stepping up its direct-to-consumer content business.The London-based handset manufacturer said it will expand its PlayNow business, adding a song-identification application and "millions of music tracks and thousands of mastertones from both major and independent labels." Sony Ericsson...
T-Mobile USA Inc. jumped on the bandwagon for a more consumer-friendly wireless service contract, announcing plans to begin pro-rating early termination fees in the first half of 2008. The changes will affect new customers and current customers who renew their service contracts with T-Mobile...
American Tower Corp. brought in $59.6 million in profits during the third quarter thanks to a 10% increase in total revenue from the year-ago period, the company announced.The company also raised its guidance for 2007 based on increased revenues. American Tower now expects to...
TomTom NV fired the latest salvo in the bidding war for Tele Atlas, offering to acquire the Dutch digital mapping company for $4.25 billion.The Amsterdam, Netherlands-based maker of car navigation equipment outbid rival Garmin Ltd., which last week offered $3.3 billion for Tele Atlas....
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 Embarq to $60 from $67 after the company reported in-line third-quarter results.--R.W. Baird lowered its estimates on...
The following list includes venture capital and other investments into wireless companies announced during the past week. The value of the investment is included when available.--4INFO: Peacock Equity, a joint venture of GE Commercial Finance's Media, Communications & Entertainment business and NBC Universal, invested...
Andrew Corp. agreed to sell its satellite communications business to Resilience Capital Partners in a deal that will allow Andrew to maintain an ownership stake in a new company that Resilience Capital Partners plans to establish.Andrew will receive up to $39 million in cash...
CBS Mobile has tapped Danny Bonaduce for a new mobile video series that will air on major wireless carriers beginning next week.The first original animated program developed under the CBS Mobile brand will air new three-to-five minute episodes every two weeks. "Danny Bonaduce: Life...
Research In Motion Ltd. is targeting small and medium-sized businesses with a new BlackBerry software offering for up to 30 users.The Waterloo, Ontario-based developer released BlackBerry Professional Software, a "streamlined" offering that allows users to access e-mail, Internet and intranet applications on the go....
U.S. Cellular Corp. reported a strong third quarter, with average revenue per user up 10% and postpaid customer gains of about 73,000 subscribers. However, the company missed Wall Street estimates on its earnings per share, sending its stock down sharply before rebounding. U.S. Cellular's...
Editor's Note: Welcome to Reality Check, a feature for RCR Wireless News' new weekly e-mail service, Mobile Content and Culture. We've gathered a group of visionaries and veterans in the mobile content industry to give their insights into the marketplace. In the coming weeks...
