Sprint to Pay Clearwire Up to $1.6 Billion Over 4 Years

Tallahassee, FL 12/1/11 (StreetBeat) --Wireless service provider Sprint Nextel (NYSE:S) plans to pay up to $1.6 billion to Clearwire Corp (NasdaqGS:CLWR) over the next four years, potentially easing concerns about a liquidity crisis at Clearwire.

As a result, Clearwire said on Thursday it will pay $237 million in debt interest payment due on Dec 1.

Clearwire, which is majority owned by Sprint Nextel, said last month it may skip the payment to conserve cash as it needs almost $1 billion in new financing to keep operating and fund a network upgrade.

The payments from Sprint, which is also Clearwire's biggest customer, include the expansion of their current network agreement and the potential for an equity investment.

Sprint committed to providing more equity funding to Clearwire "in the event of an equity offering." If Clearwire raises new equity between $400 and $700 million, Sprint will participate in the offering on a pro rata basis up to $347 million, consistent with its current voting interest.

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Clearwire Corp. (NASDAQ: CLWR) Surges 20% After Sprint Agreement

Tallahassee, FL 10/26/11 (PennyPayDay) --Clearwire Corp (NASDAQ: CLWR), the money-losing wireless broadband provider, surges 20 percent after Sprint CEO Dan Hesse disclosed a tentative deal between the two companies that appears to show a strengthened relationship between them. In particular, Sprint said it has agreed to work closely with Clearwire on its planned LTE network roll out.

While Sprint owns a majority stake in Clearwire, there has been tension between the two companies in recent months, and it was not clear whether Clearwire was going to figure into Sprint’s long-term network strategy. Sprint may use Clearwire’s network to handle traffic from customers using Long-Term Evolution, or LTE, technology beginning in 2013, Hesse explained. The talks are continuing, though a deal isn’t completed.

“We’re pleased to announce that we have signed a nonbinding cooperation agreement with Clearwire, to work together on the technical specifications of the Clearwire LTE network and to ensure a superb customer experience for Sprint customers on the Clearwire LTE network,” Hesse said on a post-earnings report call with investors this morning. “The cooperation extends to the design and operations of the network, and ensure seamless hand-off and service layer control that needs Sprint customer experience requirements.”

He said the deal covers the selection and timing of site nodes and involves working with manufacturers to design devices and certain chip sets for devices.

Clearwire, based in Kirkland, Washington, rose as high as $2.11 after its news release today, and is currently trading +20% at $1.99. The stock had lost 68% this year before today.

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LargeCap Stocks to Keep an Eye on Today

Tomahawk, WI 8/19/2011 (PennyPayDay) – Sprint Nextel in discussions with cable companies about a possible investment that could result in the buyout of partner Clearwire, according to a Bloomberg report.

Clearwire shares were surging 25.5% to $2.90 in premarket trading Friday. Sprint shares were rising 0.3% to $3.50.

HP, desperate to boost its margins, unveiled a major corporate and strategic overhaul Thursday, which will involve ditching its WebOS devices and potentially spinning off its PC business.

The computer hardware company also gave weak guidance after reporting adjusted earnings per share of $1.10 on sales of $31.20 billion for its fiscal third quarter, compared to $1.08 a share on revenue of $30.70 billion reported in the year-ago period.

Analysts expected adjusted earnings per share of $1.09 on sales of $31.17 billion.

Shares were plunging 16.1% to $24.77.

Chipmaker Marvell Technology reported second-quarter earnings of 38 cents a share vs. the Wall Street consensus target of 37 cents a share.

Shares were advancing 9% to $13.05.

Shares of salesforce.com were spiking 5.2% to $120 after the cloud computing applications company increased its full-year revenue guidance to $2.22 billion to $2.23 billion, up from $2.15 billion to $2.17 billion.

The software company posted second-quarter adjusted earnings of 30 cents a share, in line with analysts' estimates. Revenue was $546 million, above analysts' projections of $528.8 million.

Software company Autodesk reported second-quarter profit of 44 cents a share vs. the average analyst estimate of 41 cents a share.

Shares were rising in premarket trading by 3.7% to $27.50.

Barnes & Noble said Liberty Media would invest $204 million in the bookseller, but discussions to buy it for $1 billion have ended.

Barnes & Noble shares were rising 2.6% to $12.40.

Bank of America plans to cut 3,500 jobs in the current quarter and thousands of additional cuts are expected as part of an aggressive overhaul, The Wall Street Journal reported, citing people familiar with the situation.

Shares were sliding 1.9% to $6.88.

Apparel company Gap has reaffirmed its full-year earnings guidance of $1.40 to $1.50 a share after reporting that its second-quarter profit fell to 35 cents a share from 36 cents a share a year ago. The Wall Street consensus estimate for the quarter was earnings of 33 cents a share.

Shares were up 0.2% to $15.55.

Intuit Inc., the financial management software provider, reported fourth-quarter loss of 19 cents a share vs. loss of 15 cents a share last year.

Revenue was $593 million, beating the average analyst estimate of $583 million.

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Clearwire (CLWR) Technical Stock Trading Video Chart

Today Penny Payday brings you a video chart for Clearwire (CLWR), a NASDAQ company and one of many you can find at Pennypayday.com.

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