Clearwire (CLWR) Earnings: Why Is The Stock Off?
August 6, 2007 by Douglas A. McIntyreClearwire (CLWR) will announce earnings at the end of the day. The shares are off over 3% down to $27.92. The stock staged a furious rally two weeks ago when it annonced that it would set up a partnership with Sprint (S) to allow WiMax customers to roam on both companys’ networks. Shares ran from $24.78 to $33.20 in one day.
The stock has been down almsot every day since the excitement.
According to First Call, analysts are estimating that the company will bring in $33.26 million for the quarter and $147.4 million for calendar 2007. For the June quarter, the EPS estimate is (.$.60) and for the year ($.2.69).
Without the Sprint (S) deal, Clearwire shares could easily be back at their price before the partnership went public–$25. A miss on earnings today could put it back there.
Douglas A. McIntyre
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