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 network operator Clearwire
So what: TD-LTE, which stands for Time Division-Long Term Evolution, is being developed by China Mobile, and bears many similarities to regular 4G LTE that AT&T
Now what: Financial terms of the arrangement were not disclosed, but the announcement is still a positive indication that although Clearwire may be down, it's not out. The move is another sign of Clearwire's commitment to building LTE into its existing WiMAX network after betting a little too much on the latter. The company is still hanging on by a thread as it burns through massive amounts of cash. Clearwire only has $78.8 million in cash and equivalents left as of last quarter, down from $1.2 billion only six months prior. Today's news is good, but it still may be too little, too late.
Interested in more info on Clearwire? Add it to your watchlist by clicking here.