Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of wireless giant Sprint Nextel
So what: Analysts were looking for a loss of $0.28 per share in Sprint's third quarter, and the company limboed right under that bar with a $911 million, or $0.30 per share, loss. Sprint has been in turnaround mode for some time now as it tries to return to profitability in a brutally competitive marketplace that includes giants such as Verizon
Now what: FierceWireless' Phil Goldstein isn't quite as bearish. He thinks the turnaround is getting traction and highlights the fact that net wireless subscriber additions were up significantly and revenue increased for the first time in years. My fellow Fool Tim Beyers has also had some more positive thoughts on the carrier recently, particularly when it comes to Sprint's 4G network. And while the company's bottom line sure looks ugly, investors that peek beyond the income statement will find some pretty impressive cash flow. No doubt the company still has its work cut out for it, but perhaps the situation isn't quite as dire as today's selling suggests.
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