street

 

MetroPCS IPO Wows Wall Street

MetroPCS Communications Inc. is wowing Wall Street with the biggest IPO of the year, and one of the largest since 2004. The wireless provider which targets low-income and young subscribers debuted on the New York Stock Exchange on Thursday under the ticker PCS. MetroPCS priced its 50 million shares at $23; it hopes to earn […]

Speaking of IPOs …

WALL STREET LAST SAW a flood of IPOs from competitive carriers just before the telecom industry went bust. Now, as more CLECs wean themselves off UNE-P, specialize in IP services and bring their balance sheets into the black, the question arises: who will go public? Continued merger activity will pave the way for more CLECs […]

Alltel Plans to Buy Midwest Wireless

Rural wireless operator Alltel Corp. said today it will buy privately held Midwest Wireless Holdings Inc., gaining 400,000 customers in southern Minnesota, northern and eastern Iowa, and western Wisconsin. Alltel will pay $1.075 billion in cash for Midwest Wireless licenses, customers and network assets, which include 1.9 PCS spectrum. Alltels stock fell 11 cents on […]

Rumored Deals with Cablecos Would Favor Sprint

With Sprint Nextel rumored to be in talks with three large cable companies Comcast Corp., Cox Communications and Time Warner Inc. to resell advanced wireless services through those entities, industry analysts say that would be a move in Sprint Nextels favor. The recently merged Sprint Nextel now has the necessary spectrum to develop a WiMAX […]

CRG West Opens Neutral Meet-Me-Room in Nations Capital

CRG West has opened its first neutral meet-me-room in Washington, D.C., at its 1275 K Street NW facility, offering interconnections and data center colocation to tenants including facilities-based telecommunication carriers, ISPs, and VoIP, wireless and content providers. Tenants can lease or license space within the facility, and have unrestricted rights to link with other authorized […]

Switch and Data, Last Mile Partner

Neutral interconnection and colocation provider Switch and Data and Last Mile Connections, a One Equity Partners company, have partnered to give their carrier customers more options at the local loop and interconnection levels. Switch and Data plans to enable its sites with Last Miles Online Exchange, a neutral e-marketplace using reverse auctions for selling and […]

Does Wall Street Want the Sun toset on Local Phone Competition?

Posted: 2/2003 special report Does Wall Street Want the Sun to set on Local Phone Competition? FINANCIAL ANALYSTS AND THE INSTITUTIONS that support them are staunchly in favor of removing the UNE-P in order to create business opportunities with the Bells and establish certainty in the marketplace, some observers say. Critics who support the UNE-P […]

Wall Street to Reform Analyst Conflicts

Aiming to close one of the darkest chapters in the history of Wall Street, federal and state regulators announced a $1.4 billion settlement agreement Friday with the largest brokerage firms to penalize them for bogus ratings and separate future research from investment banking opportunities. The agreement has not been finalized and requires the approval of […]

WorldCom’s Fraud: Even Deeper, Says Investigator

A bankruptcy court examiner said in a report released Monday that WorldCom’s fraud is likely to be even greater than had been thought. Richard Thornburgh, a former U.S. attorney general, released a preliminary report that found WorldCom’s fraud could be even larger than the $7.2 billion restatement and that former CEO Bernie Ebbers guaranteed or […]

Jack Grubman Is Not Alone

Jack B. Grubman, Wall Street’s lionized telecom analyst during the 1990s, is under government scrutiny for his bullish ratings of communications giants that subsequently went belly up. Many industry observers, including senior analysts at market research firms, say Grubman is not the only Wall Street analyst who championed now-questionable companies in an industry that has […]

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