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What: Shares of Clearwire
So what: Sprint gets $9 billion in cash to help run LightSquared's LTE network. Terms also call for the carrier to receive $4.5 billion in credits to buy access to the network, which would, in theory, reduce Sprint's reliance on Clearwire and its rival standard to deliver 4G service, The Associated Press reports. Interestingly, investors hated the terms of Sprint's deal; the telecom's shares slumped nearly 20% on the news.
Now what: Forget for a moment Sprint's newfound love for LightSquared. AT&T
Interested in more info on Clearwire? Add it to your watchlist .
Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He owned shares of IBM at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Google+ or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.