Sprint Nextel which is the third largest U.S wireless operator dropped two trading days in a row, after the investor meeting on October 7th. They slid down 26% to the lowest level since 2009 February.
According to an Analyst working with BTIG LLC Walter Piecyk, the situation for Ugly as print said it needs to raise capital and refused to give detailed forecasts in response to repeated questions.
The iPhone, which Sprint began, selling this month for the first time, has upfront cost because the company supports financially the cost to customers in exchange for service revenue.
Chairman Nextel Corp James Hance said “Friday was tough on the stock, tough on everybody in terms of the way it came across, it was a mistake not to disclose the impact of the iPhone — a mistake we will fix. We will talk about the impact when we talk about the third-quarter earnings.”
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