U.S. Morning Call: Sprint Exclusive; It's Tech Friday
Friday, December 14, 2012 - 02:39
Dec 14 - Sprint's $2.1 billion offer to buy out Clearwire running into trouble with shareholders
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Did your morning call for Friday a wrench getting thrown into the big deal of the week Sprint's two point one billion dollar offer to buy out Clearwire running into trouble with shareholders. Clearwire investors criticizing the offer saying they want more money at least five bucks a share sprint which owns just over 50% of Clearwire. Offered to -- and ninety cents per share for the rest of the company. But there's -- hang up Softbank has -- how much spring can paper Clearwire. Any deal would need approval by Softbank which has agreed to -- 70% of sprint. For about twenty billion dollars Clearwire shares closed up 15% Thursday the stock today is down slightly in the premarket. Take a look at markets now US stock futures pointing higher across the board after the S&P 500 ended a six day winning streak yesterday. European stocks -- the other hand are mixed today traders across the pond waiting for development in budget talks in Washington. And we've got an economic data to look forward to CPI for November at 830 and later. The market PMI index and November industrial production are released. Into the banking sector now the Fed has begun its first system wide stress test of the big banks according to the Financial Times. JPMorgan Goldman Sachs Citigroup Morgan Stanley and Bank of America are all being examined. The -- looking at whether the banks have enough liquidity and proper risk management procedures in case funding about operates. The big exam comes as the Fed up scrutiny of individual banks cash flow and ability to cope under system wide financial stress. Taking a look at tech Apple's iPhone 5 is unleashed in China today apple has been in talks about a tie up with China Mobile for years now. A deal the company is seen as crucial to improve Apple's distribution. Market at 290. Million users which is forecast to double this year. The release of the new Smartphone can give Apple Stock a much needed lift shares have fallen over 20% since its peak in September. And finally another big chunk of FaceBook shares are set to be unlocked for trading today. Shares have shot up in the last few weeks and are now up in the premarket. That's it for Friday's morning cough follow us on Twitter for more headlines at Reuters Insider. And check out our letters YouTube channel at Reuters dot com slash it's easy. I'm Lisa Bernhard that is right.
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