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A little help for Sprint

According to Engadget, the companies that will help Sprint Nextel Corp. (NYSE:S) launch its WiMax network for cell phones are banding together to show support for the troubled phone company.

Samsung, Motorola Inc. (NYSE:MOT), Intel Corp. (NASDAQ:INTC), and Nokia Corp. (NYSE:NOK) are all sharing a booth at this week's 3GSM conference and Samsung is showing off its new mobile WiMax phones.

Actually, all of the companies have skin in the game and it is to their advantage to band together in public support of WiMax. The Sprint network could cover an area in the U.S. that would serve 100 million potential customers. That is a lot of business for Sprint's partners.

Sprint has been plagued by operational difficulties, so the WiMax deployment may be its last, best hope for raising its stock price and staying independent. Its shares traded near $27 last April but are down to under $18 now.

A friend in need is a friend indeed.

Douglas A. McIntyre is a partner at 24/7 Wall St.

Market highlights for next week: Playboy, Garmin, Biogen reporting

Monday February 12
  • Broadcom Corporation (NASDAQ: BRCM) to hold a 10:30am press conference from Barcelona on 3GSM.
  • US and South Korea to hold Free-Trade Agreement talks from 2/11 to 2/14.
Tuesday February 13
  • Extreme entertainment earnings:
    • World Wrestling Entertainment (NYSE: WWE), conference call at 11am.
    • Playboy Enterprises (NYSE: PLA), conference call at 11am. Note that Playboy was recently downgraded by RBC Capital Markets and Sanders Morris Harris. Sanders Morris said the company will either issue guidance below consensus expectations or none at all on the call.
  • PDUFA date for Pfizer, Inc's (NYSE: PFE) Fesoterodine, a new drug candidate for the treatment of an overactive bladder.
Wednesday February 14
  • Garmin Limited (NASDAQ: GRMN) to report Q4 earnings, conference call at 11am.
  • MGM Mirage (NYSE: MGM) to report Q4 earnings, conference call at 11am.
  • PDUFA date for Acambis plc's (OTC: ACAMY) ACAM-2000, a smallpox vaccine derived from Dryvax, a first-generation vaccine used during the global eradication program.
  • PDUFA date for MedImmune Inc's (NASDAQ: MEDI) CAIV-T, an investigational intranasal, cold-adapted trivalent influenza vaccine.
Thursday February 15
  • Biogen Idec Inc (NASDAQ: BIIB) to report Q4 earnings, conference call at 8:30am. On February 2, JP Morgan recommended buying Biogen before its quarterly report, saying the Tysbari uptake should be better than current expectations.
Friday February 16
  • Jack in the Box Inc (NYSE: JBX) to hold annual shareholder meeting at 3pm.

Symbol Lookup
IndexesChangePrice
DJIA+72.8112,874.04
NASDAQ+27.512,931.39
S&P 500+9.131,351.77

Last updated: February 13, 2012: 06:01 PM

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