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 mobile network operator Clearwire (Nasdaq: CLWR ) got a crystal-clear signal today, jumping as much as 11.7% on fairly large trading volume.
So what: After AT&T (NYSE: T ) dropped its blockbuster bid for rival T-Mobile USA, analysts started looking at what else Ma Bell could do about its rising radio spectrum needs. Two popular theories involve buying DISH Network (Nasdaq: DISH ) -- or, indeed, Clearwire.
Now what: Moreover, head-to-head competitor LightSquared is butting up against a Dec. 31 deadline for FCC approval of a network deal that would make Clearwire less important to Sprint Nextel (NYSE: S ) -- and LightSquared is starting to sound desperate about it.
If you're bored by the wireless industry these days, you're just not paying attention. That said, I don't expect this particular jump to have legs. Buying Clearwire would put AT&T up against another set of formidable regulatory hurdles, and Sprint is probably happy to stretch that LightSquared deadline as needed. Annnnd... we're back to square one.
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