Sprint Corporation (S - Free Report) was a big mover last session, as the company saw its shares rise nearly 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $7.61–$8.43 in the past one-month time frame, witnessed a sharp increase yesterday.
The move came on the back of a report that the two wireless carriers namely T-Mobile and Sprint are “in active talks” regarding a merger.
The company has seen seven negative estimate revisions in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few months, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Sprint currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
A better-ranked stock in the Computer and Technology sector is I.D. Systems, Inc. (IDSY - Free Report) , which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is S going up? Or down? Predict to see what others think: Up or Down
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