Northern, WI 06/18/2013 (usastockreport) – Shares of Sprint Nextel Corporation (NYSE:S) closed at $7.22.The shares fell by -1.37% from its previous close. The 52-week range for the stock is at $3.01 to $7.50. The company total market capitalization stands at 21.79 billion and beta value of 0.96 times.
Sprint announced the availability of 4G LTE network in 22 new cities through which customers would be able to download videos, access to the internet facility, send photos and play games with greater speed and reliability. Also there is a great news for old customers switching to sprint as they can save up to $100 on any smart phone with a two year service agreement and activation plan.
The company also said that it is going to offer 4G LTE service across 110 markets nationwide and subsequently expects to provide 200 million people with LTE by the end of 2013.
Bob Azzi, senior vice president has conferred that Sprint is going to deliver the latest technology through a nationwide LTE build out by providing a more compact and energy efficient new cell sites.
Sprint has also taken its merger plans from its board room to the courtroom, suing its partner Clearwire Corp and competitor Dish network corp. The lawsuit said that Clearwire’s board panicked by putting down a planned merger with Overland park. It also targeted Dish TV stating that the television company has worked towards ending the merger and drive Clearwire into financial mess for its own benefit.
Dish spokesman said that the company was measuring and reviewing the filing. In its lawsuit, Sprint has asked to stop the efforts of Dish to buy Clearwire shares and award Sprint an undisclosed amount as claim from Dish.