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.
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