Zacks Analyst Blog Highlights: Sprint Nextel, Virgin Mobile USA, iPCS Inc, Verizon and AT&T

For Immediate Release

Chicago, IL – October 30, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Sprint Nextel (S - Analyst Report), Virgin Mobile USA (VM - Snapshot Report), iPCS Inc (IPCS - Snapshot Report), Verizon (VZ - Analyst Report) and AT&T (T - Analyst Report).

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Here are highlights from Thursday’s AnalystBlog:

Sprint Posts Bigger Loss

Sprint Nextel (S - Analyst Report) reported third-quarter 2009 results with net loss per share of 17 cents, exceeding the Zacks Consensus Estimate of 15 cents and the year-ago loss per share of 11 cents.

The third-largest US wireless carrier posted a net loss of $478 million, 47% more than the net loss of $326 million reported a year ago. Sprint remains significantly challenged by the volatile economic backdrop, which has contributed to the sustained decline in the wireless subscriber base and associated revenues.

Sprint is acquiring Virgin Mobile USA (VM - Snapshot Report) to strengthen its presence in the fast-growing prepaid market. The company recently announced plans to buy its wireless affiliate iPCS Inc (IPCS - Snapshot Report), which will expand Sprint’s service territories and offer cost synergies.

Sprint is aggressively deploying 4G WiMax mobile broadband service having already launched its service in 17 US cities including 10 markets launched in October. The company targets to launch 4G services in additional US cities during the fourth-quarter 2009. The 4G WiMax service is expected to play a critical role for Sprint’s survival in the domestic wireless market given the continued market share losses to larger rivals.

The company continues to lose market share to its larger peers Verizon (VZ - Analyst Report) and AT&T (NYSE:T - Analyst Report) as they continue expanding their respective customer bases at a brisk rate. Sprint is struggling to integrate Nextel’s iDEN wireless network, resulting in subscribers losses to other carriers.

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