The Midday S&P 500: Possible MetroPCS and T-Mobile Merger Hurts Sprint
Things are looking up for MetroPCS, but the rest of the S&P is looking down.
MINYANVILLE ORIGINAL Today the S&P 500 (INDEXSP:.INX) is down .29% to 1440.31 as of 2:30 p.m. EDT. Mosaic Co. (NYSE:MOS) lost a noticeable 4.50%, which takes the stock down to $55.40 per share, due to reports that the company missed estimates on profits and revenue. Today’s big loser is Sprint Nextel Corp. (NYSE:S), which is down 4.92% to $4.92 per share due to news of a possible merger between MetroPCS (NYSE:PCS) and T-Mobile. Speaking of which, MetroPCS is experiencing a massive surge from speculation on the deal, which has driven its stock up 17.84% to $13.57 per share.
No positions in stocks mentioned.
Everything you need to know for the next trading day.
Trading Radar (weekly)
Your road map to all the events that will effect financial markets in the week ahead.