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Apr 30, 2012

Falcone gets extension in LightSquared creditor talks

NEW YORK, April 29 (Reuters) – Hedge fund manager Philip
Falcone’s LightSquared is avoiding a default for now on about
$1.6 billion of debt after creditors of the upstart wireless
telecom company agreed to extend negotiations for a week, source
familiar with the matter said.

The holders of LightSquared’s debt, who include billionaire
investor Carl Icahn and hedge fund manager David Tepper, had
given Falcone’s Harbinger Capital until 10 a.m. Monday to strike
a deal for restructuring Harbinger’s 96 percent equity control
of LightSquared, the source said.

Apr 26, 2012

Clearwire revenue beats Street, shares up

April 26 (Reuters) – Clearwire Corp’s first-quarter
revenue beat Wall Street expectations due to strength in its
retail business, and its loss narrowed as it cut costs, sending
its shares up 6 percent.

The company, majority owned by Sprint Nextel, also cut
its capital spending budget for the year even as it kept its
network upgrade deadline for end of June 2013.

Apr 25, 2012

Sprint’s bottom line beats Street estimates

By Sinead Carew

(Reuters) – Sprint Nextel’s (S.N: Quote, Profile, Research, Stock Buzz) stronger than expected wireless operating income helped it post a quarterly net loss that was narrower than Wall Street estimates.

But investors shrugged off the surprise, which one analyst attributed partly to slower than expected spending related to a network upgrade project.

Apr 24, 2012

AT&T profit up, helped by iPhone sales drop

NEW YORK (Reuters) – AT&T Inc (T.N: Quote, Profile, Research) reported a higher-than-expected quarterly profit on Tuesday, sending its stock up as much as 4 percent, as a decline in iPhone sales reduced the amount of cash it had to pay Apple Inc (AAPL.O: Quote, Profile, Research) and boosted its margins.

Apple shares fell almost 2 percent after AT&T also said its numbers should improve further in coming quarters when it expects recent upgrade policy changes to temper smartphone sales further.

Apr 24, 2012

AT&T profit beats; iPhone sales drop helps margin

By Sinead Carew

(Reuters) – AT&T Inc reported a higher-than-expected quarterly profit as iPhone sales declined, reducing the amount of cash it had to pay Apple Inc and boosting its margins.

Shares of AT&T rose 1.5 percent after the news. The company and its rivals were weighed down by iPhone costs in fourth quarter, when the latest version of the popular phone hit stores. While fewer iPhone sales meant weaker subscriber growth for AT&T, it did help the company’s wireless service profit margin.

Apr 23, 2012

Texas Instruments revenue forecast beats Street

By Sinead Carew and Noel Randewich

(Reuters) – Texas Instruments Inc (TXN.O: Quote, Profile, Research, Stock Buzz) forecast second-quarter revenue growth ahead of Wall Street estimates, signaling the end of a prolonged inventory-related decline in demand, sending its shares up 4 percent in late trading.

The maker of chips used in everything from communications equipment to cars said it expects revenue growth for the rest of the year due to a broad-based improvement in demand after several quarters when its clients cut inventories.

Apr 19, 2012

Verizon Wireless date revenue growth impresses

NEW YORK, April 18 (Reuters) – Verizon Communications Inc
posted first-quarter earnings and revenue that beat Wall
Street expectations as customers increased their spending on
services such as wireless data, sending its shares up more than
2 percent.

While wireless customer growth slowed, Chief Financial
Officer Fran Shammo said the company’s mobile venture, Verizon
Wireless, saw the fastest growth in mobile service revenue in
three years as more customers used smartphones.

Apr 18, 2012

Qualcomm supply constraints to limit revenue

NEW YORK (Reuters) – Qualcomm Inc (QCOM.O: Quote, Profile, Research, Stock Buzz) warned on Wednesday that it would have trouble meeting demand for some of its advanced cellphone chips for the rest of the year due to manufacturing constraints.

While the leading mobile phone chip maker maintained its previous revenue outlook for its fiscal year 2012, its shares fell 3 percent as investors had hoped it would be able to raise its targets.

Apr 18, 2012

Verizon to sell some spectrum if cable deal closes

April 18 (Reuters) – Verizon Wireless plans to put a chunk
of wireless spectrum up for sale in a move that is seen
improving its chances of gaining regulatory approval of its
controversial plan to purchase a block of spectrum from cable
service providers.

The company’s offer to sell spectrum follows opposition from
several smaller rivals to its efforts to buy about $3.9 billion
worth of wireless airwaves from cable companies including
Comcast Corp and Time Warner Cable Inc.

Apr 9, 2012

AT&T to sell Yellow Pages stake to Cerberus

April 9 (Reuters) – AT&T Inc said on Monday that it
would sell a 53 percent stake in its declining Yellow Pages
business to private equity firm Cerberus Capital Management LP
[CBS.UL} in a deal worth $950 million including debt, allowing
AT&T to focus on its core telephone business.

Once a cash cow for telephone companies, directories have
become much less relevant in recent years as consumers turn to
the Internet to find telephone numbers for businesses.

    • About Sinead

      "Sinead is a telecommunications industry correspondent. Her coverage area spans U.S. service providers, cellphone makers and chip makers. Before joining Reuters in 2002, she covered technology and telecoms for various trade publications."
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