“Sprint Nextel” Begins Trading

4:14 pm on August 15, 2005 | Category: Business, Corporate, Wireless

The newly combined Sprint Nextel corporation (NYSE: S) suffered a slight loss today as it began trading on the New York Stock Exchange. The stock began the day at $26.50, but was unable to pick up much momentum for the day, and closed down $0.45 at $26.05.

What does this mean for the prospects of the company? Probably nothing; just that traders weren’t all that enthused about the stock today. The company’s executives are most likely relieved that the stock didn’t take any major losses in the first day. In fact, this relatively small first day movement suggests that business will continue as usual, and the company’s 80,000 employees and 44 million customers won’t be disrupted by the merger – a good sign by anyone’s standards.

Even though Sprint and Nextel are now officially one company, much work still remains to be done. Executives must now work on combining the CDMA and iDEN wireless products and services under one umbrella, while ironing out potential legal disputes with a number of disgruntled affiliates.

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    1. [...] America’s third largest cell phone carrier, Sprint Nextel Corp., posted a 55% decline in fourth quarter earnings yesterday, due to merger expenses and disappointing wireless growth. [...]

      Pingback by Sprint Nextel Earnings Decline 55% » Telecommunications Industry News — May 24, 2006 #

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