Telecom shares up: Sprint leads with reports of restarted talks with Clearwire for WiMax networks
Sprint, the third largest US operator, and Clearwire are reported to be discussing a joint venture that would attract funding from Intel, the US chipmaker and a leading proponent of WiMax technology. According to a Wall Street Journal report that cited unidentified sources, the two companies have also approached Google and Best Buy about possible financing.
It seem some other telecoms are fairing well, possibly due to the hope of another rate cut by the Fed, according to the Boston Globe:
Shares of AT&T Inc. and Verizon Communications Inc. also advanced. Goldman Sachs analyst Jason Armstrong said the two garnered 85 percent and 98 percent of total and postpaid net subscriber additions during the fourth quarter, respectively.