Information provided by Theflyonthewall.com
Shares of Sprint
) are climbing following reports, which the company has confirmed, that it is in talks with Japanese cellphone company Softbank
) regarding a potential "substantial investment."
CNBC said Softbank may be attracted to Sprint, which may be working to buy Clearwire
), because of spectrum holdings. The talks come a bit over a week after Deutsche Telekom
), owner of T-Mobile and MetroPCS
), agreed to combine the U.S. cellphone businesses.
In midday trading, shares in Clearwire were up 32% to $1.72 and Sprint was up 15% to $5.80, while PCS slid over 3% to $11.63.
An appeals court reversed an injunction granted to Apple
) against Samsung's
) Galaxy Nexus smartphone, meaning sales of the phone can begin again while the patent fight between the companies continues.
Among the notable market gainers Thursday were Fastenal
), up over 8% after the company reported in-line results for its third quarter and raised its dividend, and Cooper Tire
), up nearly 8% following reports that Indian tire maker Apollo Tyres is in the process of acquiring Cooper.
Among the noteworthy losers were Safeway
), down 3% after its earnings beat expectations but its revenues missed consensus forecasts, and Dollar Tree
), down more than 7% after saying its sees its Q3 sales coming in at the low end of its prior forecast.