Sprint, Clearwire Active in Trading After AT&T Ends Bid for T-Mobile (S)

AT&T's (NYSE:T) decision to end its pursuit of Deutsche Telekom's T-Mobile USA sent ripples through the telecom market. AT&T competitor Sprint (NYSE:S), which praised the termination of the merger agreement as "the right decision for consumers, competition and innovation in the wireless industry," saw its stock up $0.06, or 3.01%, to $2.22, in early afternoon trading. Sprint partner Clearwire (NASDAQ:CLWR) also saw its stock rise as much as 5% just after the open, but the stock has been unable to hold the gains and is now trading down $0.04, or 1.97%, to $1.99. Sprint Nextel (NYSE:S) has potential upside of 48.5% based on a current price of $2.25 and an average consensus analyst price target of $3.34.

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