SoftBank to sell at least $7.9 billion worth of Alibaba stock Softbank’s sale comes on the heels of concerns about Alibaba’s future outlook. In May, Alibaba disclosed that the U.S. Securities and Exchange Commission is inquiring about the Chinese company’s accounting practices. Alibaba has said it is cooperating with the probe. SoftBank has been struggling to revive Sprint S, -0.04% which it acquired in 2013, and has been searching for ways to shore up its balance sheet. SoftBank is saddled with more than $80 billion in net interest-bearing debt—about one-third of which is tied to Sprint. Full article http://www.marketwatch.com/story/so...rth-of-alibaba-stock-2016-06-01?siteid=yhoof2
Going Broke Slowly: A Guide to Sprint’s $33 Billion Debt Dilemma Sprint Corp.’s top executives are confidently promising a revival that will lead to the “greatest turnaround in history.” Read full article here: http://www.msn.com/en-us/money/comp...nt’s-dollar33-billion-debt-dilemma/ar-BBtLwym
Five Cheap Public Utilities Stocks Hedge Funds Like The hedge fund sentiment towards Sprint Corp (NYSE:S) increased in the first three months of 2016, during which the number of funds from our system with stakes in Sprint jumped to 20 from 17 quarter-over-quarter. Nonetheless, the overall value of those stakes fell by 14% sequentially to $182.01 million, partially due to a 4% decline in the value of Sprint shares. The fourth-largest wireless communications services provider in the U.S. has seen its market value increase by nearly 4% since the start of 2016. In April, Sprint raised $2.2 billion by selling and leasing back $3 billion worth of network gear to specially created entities in an attempt to reduce its heavy debt load. As the mobile-phone carrier has roughly $10 billion in debt due over the next three years, the company engages in rather unusual financial arrangements to raise cash. Rob Citrone’s Discovery Capital Management upped its position in Sprint Corp (NYSE:S) by 20% during the first quarter to 37.79 million shares. http://www.insidermonkey.com/blog/five-cheap-public-utilities-stocks-hedge-funds-like-459822/
This is what S was up on yesterday. With a hour before open it appears S may gap up. Sprint stock surges on SoftBank recommitment, management upheaval Sprint stock hit levels not seen since last November following comments of continued support from SoftBank Chairman Masayoshi Son Sprint stock surged more than 10% Tuesday, on the heels of a pending management shakeup at parent company SoftBank. Investors traded more than three-times average daily volume in Sprint shares (S) Tuesday, with the carrier stock at one point touching $4.40 per share, before eventually adding nearly 8% in value by the end of the day, closing at $4.16 per share. The carrier’s stock at one point hit $4.40 per share, a close and peak it had not seen since last November. https://www.rcrwireless.com/2016062...oftbank-recommitment-management-upheaval-tag2
In a out of the norm move for me, I bought back the shares I sold yesterday as momentum still has strength.
As it turns out I made the right move. Off it's highs, S still had a decent gain on strong volume in a down market.
Good close for S in another extreme market melt down. It is moving back into the overbought level again but that has not stopped the buyers. I have my money down on the AUG 19th 4.50 calls and hold a fair amount of shares. It appears the shorts walked into some what of a bull trap today.
SPRINT (NYSE:S) ANALYST OPINION Sprint Corp (NYSE:S)stock is currently trading at about $4.19 and lots of rating firms seem to have a target price set on the stock. The median 12-month price target of 21 analysts covering the company is $7.00, which suggests the stock could still gain more than 40 percent. The highest analyst price target is $9.00, which implies a gain of -15 percent. And roundups of analyst notes show that 1 are rating the stock a buy while 2 rate S a strong buy. There are 18 equity research firms suggesting a Hold and 4 consider it Sell. Pacific Crest issued their verdict on Sprint Corp (NYSE:S) recently. The rating firm gave a Underweight rating to this stock in a research note on Apr 13, 2016.Macquarie analysts issued their verdict on Sprint Corp (NYSE:S) recently. The rating firm gave a Outperform rating to this stock in a research note on Apr 5, 2016. According to a research note published on Jan 27, 2016, analysts at Oppenheimer have upped their rating on the company stock from Underperform to Perform. http://www.zergwatch.com/2016/06/28/sprint-nyses-analyst-opinion/
