Posts for Ticker ‘IPCS’

52-Week High Club

CF Industries Holdings Inc (NYSE: CF) rallied over 4% to a yearly high of $95.06 after Agrium Inc. announced that it had extened its offer to acquire CF Industries holding for $40 in cash and a share of Agrium per share of CF Industries Holdings.

Gannett Co. Inc. (NYSE: GCI) hit a yearly high of $14.02 after the company’s earnings beat analyst estimates.

iPCS Inc. (NASDAQ: IPCS) rallied over 30% to a yearly high of $23.95 after Sprint Nextel announced that it had entered into an agreement to acquire the company for roughly $831 million, with the shares valued at $24.

Garrett W. McIntyre

Posted on: October 19, 2009 – 4:17 pm in Agriculture, Media, Old Media, Telecom, , , , ,

Top Day Trader Alerts (ALLI, IPCS, FNM, FRE, AMGN, CIT)

These are this morning’s top day trader alert stocks with more detailed data on price, volume, and further analysis with links to each stock over at VSInvestor.com:

  • Allion Healthcare, Inc. (NASDAQ: ALLI) and iPCS, Inc. (NASDAQ: IPCS) are the two largest gainers, due to them both being buyout stocks this morning.
  • Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) are both active and lower as KBW called them both ZERO in a downgrade.
  • Amgen Inc. (NASDAQ: AMGN) is down about 3% on an FDA delay.
  • CIT Group, Inc. (NYSE: CIT) was indicated up 8% early on from a sweetened debt exchange offer.

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JON C. OGG
OCTOBER 19, 2009

Posted on: October 19, 2009 – 8:56 am in Pre-Market Activity, Trading Alert, , , , , ,

Sprint Finally Acquires iPCS (S, IPCS)

Sprint LogoSprint Nextel Corp. (NYSE: S) has finally figured a way to cure its affiliate lawsuits.  The wireless operator is acquiring iPCS, Inc. (NASDAQ: IPCS) in a merger valued at approximately $831 million, including the assumption of $405 million of net debt.  Sprint Nextel will commence a cash tender offer to acquire all iPCS common shares outstanding at $24.00 per share, what looks to be a 34% premium.  Our take on this one is that it is about time.
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Posted on: October 19, 2009 – 8:25 am in Mergers and Buy Outs, Wireless, ,

Merger Stocks With Significant Arbitrage (CYCL, T, HNBC, FNFG, PCAP, PSEC, JAVA, ORCL, VM, S, DT, IPCS)

Broken Money Merger ImageDespite the notion that times are tough, mergers are still happening.  If you look back at what we noted, the top 20 companies by market cap had over $335 billion in raw cash that could be used for acquisitions and dividends.  Two of those are in deals noted herein.  We are seeing some significant merger-arbitrage spreads in five of the existing mergers that are currently in the pipe.  These deals are as follows:

  • Centennial Communications Corp. (NASDAQ: CYCL) by AT&T Inc. (NYSE: T);
  • Harleysville National Corp. (NASDAQ: HNBC) by First Niagara Financial Group (NASDAQ: FNFG);
  • Patriot Capital Funding Inc. (NASDAQ: PCAP) by Prospect Capital Corp. (NASDAQ: PSEC);
  • Sun Microsystems Inc. (NASDAQ: JAVA) by Oracle Corp. (NASDAQ: ORCL);
  • Virgin Mobile USA Inc. (NYSE: VM) by Sprint Nextel Corp (NYSE: S).

We have provided specific background and added in some color to highlight the risks and chances of closure of each deal.  There are some significant opportunities here in some of these deals, and some significant risks in others.
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Posted on: September 18, 2009 – 11:38 am in Activist Investor, Banking, Dividend, Editor's Picks, Insider Activity, Mergers and Buy Outs, Telecom, Value Investing, , , , , , , , , , , ,

As Market Plunges, Major Stocks Fall Under $10 (AEO, BCS, C, GLW, DRYS, IPAR, IPCS, LULU)

Burningmoney_3The market message has been the same for the entire last week.  Carnage and mayhem.  But what is interesting is how many household companies and how many widely held stocks have this week or today dipped under the $10.00 stock price.  This is horrible because it screws up options trading and begins to genuinely worry investors who were already worried.  Shares never dip under $10.00 because things are going so well.

American Eagle Outfitters Inc. (NYSE: AEO) broke under $10.00 early Monday and hasn’t been able to look back.   After a same store sales drop of 12% last week, the coolness looks long gone.  Maybe they could do a deal with Gap and really damage themselves.

Barclays plc (NYSE: BCS) hit $9.65 today, which is back to mid-1990’s levels.  The number one position in ETF’s can’t keep the financial giant from ruin.

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Posted on: November 12, 2008 – 2:50 pm in HI/LOW, Trading Alert, , , , , , , ,

Top Pre-Market Analyst Downgrades (AHII, NILE, FOSL, HNT, HSNI, IPCS, LPX, MCHP, PALM, PPCO, RJF, PCU)

Down_arrow_redThese are some of the top pre-market analyst downgrades we are seeing this Wednesday morning with more than two hours until the market opens:

  • Animal Health (AHII) Cut to Neutral at Piper Jaffray.
  • Blue Nile (NILE) Cut to Underweight at JPMorgan.
  • Fossil (FOSL) Cut to Underweight at JPMorgan.
  • Health Net (HNT) Cut to Hold at Deutsche Bank.
  • HSN (HSNI) Started as Underweight at JPMorgan.
  • IPCS (IPCS) Cut to Hold at Jefferies.
  • Louisiana-Pacific (LPX) Cut to Neutral at Banc of America.
  • Microchip Technology (MCHP) Cut to Sell at Goldman Sachs.
  • Palm (PALM) Cut to Market Perform at Morgan Keegan.
  • Penwest Pharmaceuticals (PPCO) Cut to Neutral at Baird.
  • Raymond James Financial (RJF) Cut to Underperform at Wachovia.
  • Southern Copper (PCU) Cut to Sell at Deutsche Bank.

Jon C. Ogg
November 5, 2008

Posted on: November 5, 2008 – 7:40 am in Analyst Calls, , , , , , , , , , , ,

Early Bird Analyst Upgrades (RATE, BBY, GOL, HIW, IPCS, JAH, PPO)

Money_stack_picThese are some of the early upgrades and positive calls we are seeing from Wall Street research analysts this Friday morning with about two and a half hours until the open:

  • Bankrate (RATE) Raised to Buy at Jefferies.
  • Best Buy (BBY) Raised to Neutral at JPMorgan.
  • GOL Linhas (GOL) Raised to Neutral at Goldman Sachs.
  • Highwoods (HIW) Raised to Outperform at Baird.
  • iPCS (IPCS) Raised to Buy at Jefferies.
  • Jarden (JAH) Raised to Buy at Goldman Sachs.
  • Polypore International (PPO) Raised to Outperform at Baird.

Jon C. Ogg
October 31, 2008

Posted on: October 31, 2008 – 6:04 am in Analyst Calls, , , , , , ,

Court Keeps Sprint From Hosing iPCS For Now (IPCS, S, CLWR)

Sprint_logoiPCS, Inc. (NASDAQ: IPCS) has announced that a circuit court judge in Cook County, Illinois, has denied a motion from Sprint Nextel (NYSE: S) to dismiss or stay the company’s lawsuit against Sprint over a joint venture with Clearwire Corporation (NASDAQ: CLWR).

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Posted on: September 16, 2008 – 10:31 am in Law, Telecom, WiMAX, Wireless, , ,

iPCS Suit Threatens Sprint & Clearwire (S, IPCS, CLWR)

Sprint Nextel Corp. (NYSE: S) already has issues coming up over its WiMAX scenario, and this could have long-term implications on all parties involved.  This isn’t even about earnings either.

The Clearwire Corporation (NASDAQ: CLWR) $14.5 billion venture with Sprint Nextel Corp. (NYSE: S) announced last week to form the first national WiMAX network is already getting some play in the legal system.  iPCS (NASDAQ: IPCS), the largest and one of the remaining only Sprint affiliates, has had issues with Sprint in the past about exclusivity agreements and this transaction prompted another lawsuit.

Anticipating an iPCS lawsuit, last Wednesday Sprint asked courts for judgment declaring that the venture will not violate exclusivity agreements with iPCS because the WiMAX network uses a different frequency.  Unfortunately it leaves many affiliate stores potentially in the lurch.

This morning, three iPCS subsidiaries are suing Sprint Nextel over the Clearwire transaction and consequential breaches of contractual agreements. iPCS noted believes that the transaction between WiMax and Clearwire breaches exclusivity provisions with Sprint. Additionally, iPCS sued Sprint because its failure to adhere to court judgments over the Sprint merger with Nextel in which the courts ruled that Sprint Nextel must cease owning, operating, and managing the Nextel networks iPCS territory.

This morning, Sprint Nextel reported earnings showing a loss of $505 million after losing 1 million customer to other carriers.  This suit is in reality a bad situation for all three parties.  Sprint’s issues of of stinking up Wall Street are not the fault of iPCS, but this is still iPCS’s problem.  The company sells Sprint Nextel exclusively in 81 markets and it has 640,600 subscribers out of an available population it lists as about 12 million residents being inside the existing coverage network.. 

iPCS is up over 6% to $28.88 in early afternoon trading. The 52-week range is "approximately $17.50 to $37.60.  Sprint Nextel is down almost 1% at $9.60 with a 52-week range of $5.48 to $23.42.  Clearwire is down over 9% to $12.78 with a 52-week range of $10.10 to $35.41.

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Jon C. Ogg
May 12, 2008

Posted on: May 12, 2008 – 11:47 am in Law, WiMAX, Wireless, , ,

52-Week Low Club (ALO, AEIS, CAMD, DGII, DLX, EBAY, IPCS, MRCY, MTSC, PRS, RJF, THQI, VRTX)

Yesterday saw many stocks hitting 52-week lows and then a sharp recovery with a low to high swing of more than 500 DJIA points.  Here are some of the stocks that hit 52-week lows today:

  • Alpharma (ALO) fell over 2% to a new 52-week low.
  • Advanced Energy (AEIS) continued its slide after disappointing earnings this week.
  • California Micro Devices Corp. (CAMD) slid 6% and even more intraday two days after earnings.
  • Digi International (DGII) fell over 10% after earnings.
  • Deluxe Corp. (DLX) didn’t look so deluxe today after a near 15% drop in earnings and a "raised guidance" that was more in-line with estimates.
  • eBay (EBAY) earnings guidance (and somewhat from the Meg Whitman departure) along with some late downgrades contributed to eBay’s new 52-week lows.
  • iPCS (IPCS) saw another tumble today.  Guess who is a Sprint reseller and guess which cellular company is under fire and announced store closures and third part closures? This looks like the Boulevard of Broken Dreams.
  • Mercury Computer Systems (MRCY) was one of the biggest percentages losers with a 30+% drop after yesterday’s earnings. This manufacturer of computer and software for embedded systems might want to change their name to Mercy Systems.
  • MTS Systems (MTSC) saw a sharp drop of roughly 15% after its earnings and "reaffirmed guidance" failed to impress.
  • Primus Guaranty Ltd. (PRS) is now down nearly two-thirds from highs, although it appears that it isn’t closing on 52-week lows even after an almost 10% drop.  Guess who sells credit swaps for their living?
  • Raymond James (RJF) saw close to a 10% drop after yesterday’s numbers.
  • THQ inc. (THQI) showed not all game makers are equal after it has write-offs from title discontinuations with almost a 30% price drop today.
  • Vertex Pharma (VRTX) spent much of the day at 52-week lows although it clawed back above the $19.13 low at the end of the trading session.  This was at a 2-year low yesterday on a hepatitis-C trial timing issue.  Citigroup downgraded it today.

Jon C. Ogg
January 24, 2008

Posted on: January 24, 2008 – 4:01 pm in HI/LOW, , , , , , , , , , , , ,