Sprint been on the decline the last few days. Started making a crawl back north, but down about 1% today. If it can keep going down, I'll look for an entry around $8.
As I said earlier in the day in my picks thread, S may be making a move. Not huge yet but it could be due to AAPL investing a billion dollars in Softbank with Qualcom possibly to follow. For those that don't know, Softbank owns S.
The markets turned on S yesterday and I never made the sell. If fact it hit my exit price of $9 early in the morning but never filled. I have been in this since $3 and patiently waiting for a bigger payday than my previous sells.
Sprint Corp (NYSE:S) carries the most downside risk of any mega cap in 2017. At almost a $35 billion market cap, this cell carrier is overvalued on almost any metric. Look at the price action in 2016. At the start of the year it traded as low as $2.20 but in December 2016 it hit $9.00. This is a whopping 310% gain in one year. A coming correction will see the stock plummet to $6.50-$7.00. Even there, Sprint will remain overvalued but investors will likely buy it up. I am a seller, looking to profit on Sprint for this collapse. There is also a classic institutional sell program being initiated, seen by the bearish inside bar pattern. It is days away from starting its large decline.
Moody's upgrades Sprint to B2; new credit facility rated Ba2 Global Credit Research - 12 Jan 2017 New York, January 12, 2017 -- Moody's Investors Service, ("Moody's") has upgraded Sprint Corporation's ("Sprint") corporate family rating ("CFR") to B2 from B3 and probability of default rating ("PDR") to B2-PD from B3-PD based on Sprint's sustained operational performance and improved liquidity. Moody's has also assigned Ba2 ratings to Sprint Communications, Inc.'s proposed $2 billion senior secured revolving credit facility due 2021 and $1.5 billion senior secured term loan B due 2024. The proceeds of the term loan will be used for general corporate purposes. Moody's has also upgraded the ratings of existing unsecured notes at Sprint, Sprint Communications, Inc. (SCI) and Sprint Capital Corporation (SCC) to B3 from Caa1 and upgraded Clearwire Communications LLC's unsecured exchangeable notes to Ba3 from B1. Moody's has affirmed the B1 rating for SCI's junior guaranteed unsecured notes. These notes are not being upgraded in conjunction with the CFR upgrade due to the increase in Sprint's senior liabilities, including the guarantee liability from Sprint's recent spectrum ABS notes issuance, which reduces the potential recovery on this debt class. Upon closing of the secured credit facility, SCI's $200 million 9.25% Debentures due 2022 will become secured, which is likely to result in an upgrade to Ba2, in line with the senior secured debt. Moody's has also affirmed Sprint's speculative grade liquidity rating of SGL-3. The CFR and PDR upgrades reflect Sprint's continued improvement in operations and improved liquidity position from its recent financing transactions. The outlook remains stable. https://www.moodys.com/research/Moo...9SYXRpbmcgTmV3c19BbGxfRW5n~20170112_PR_360590
Cash Key In SoftBank-Sprint 'Knockout' Offer For T-Mobile? http://www.investors.com/news/technology/cash-key-in-softbank-sprint-knock-out-offer-for-t-mobile/
Nice consolation just down from the new 52 week high of 9.10. The market meltdown has not had much drag on the price. I am now down to 1/2 my position and setting my next sell higher.
Sprint Agrees to Buy 33% of Jay Z’s Tidal Music Venture Sprint Corp. said it will buy 33 percent of music-streaming service Tidal and offer exclusive content and access to subscribers as the fourth-largest U.S. wireless carrier turns to media streaming to attract more customers. Marcelo Claure, Sprint’s chief executive officer, will join the Tidal board and musician Jay Z will continue to run the business, according to a statement Monday. Financial terms of the deal weren’t disclosed. Sprint paid $200 million for the stake, according to a report in MusicBusinessWorldwide. Sprint’s pact with Tidal comes after larger wireless rivals have added streaming services to the list of features offered to subscribers. AT&T Inc. waives data charges to customers that subscribe to its online TV service -- DirecTV Now. Verizon Communications Inc. provides customers free streaming of NFL games and its go90 video service. T-Mobile US Inc. lets users stream music and video from more than 100 partners without racking up big bills. More: https://www.bloomberg.com/news/arti...33-of-tidal-music-service?cmpid=yhoo.headline
Missed earnings, down nearly 2% pre-market so far Sprint reports 3Q loss Source: http://www.therepublic.com/2017/01/31/us-earns-sprint/
Sprint $S moving slightly higher on earnings. Watch to see how it closes today for a tell on top or not.
Sprint Beats Sales Estimates as Subscriber Surge Continues https://www.bloomberg.com/news/arti...cted-sales-beat-estimates?cmpid=yhoo.headline
