Early Market News: Sprint Nextel (NYSE:S), Allstate (NYSE:ALL), Morgan Stanley (NYSE:MS)

Several breaking news stories will affect stock prices as trading continues today. The following stocks should see some movement: Sprint Nextel (NYSE:S), Allstate (NYSE:ALL), Morgan Stanley (NYSE:MS). Here is a more detailed look at the news that will affect each company when trading continues. Sprint Nextel (NYSE:S) Motorola has extended its support for the Sprint Nextel's (NYSE:S) iDEN network. Motorola Solutions business of Motorola has announced that it has entered into a new agreement to extend its support of the Sprint Nextel's (NYSE:S) iDEN network for three additional years. This agreement formally extends both companies contractual iDEN relationship through 2013 and covers the supply of software and services. Bob Azzi, senior vice president of Network, Sprint Nextel (NYSE:S) said, “This agreement is great news for our iDEN customers. It will provide support for our important iDEN customer base while we begin executing our Network Vision plan.” Allstate (NYSE:ALL) Allstate (NYSE:ALL) has agreed to extend its support for The Cancer Institute of New Jersey. Under "Quotes for a Cure" program, Allstate (NYSE:ALL) will continue its support for research, treatment, prevention, and education programs at The Cancer Institute of New Jersey (CINJ) for the second straight year. Moreover, the company has also decided to raise its funding for the program to $40,000 compared with its previous $25,000. William P. Ballinger, president of Allstate (NYSE:ALL) New Jersey said, "We are delighted to have raised $40,000 to help fight for a cure for cancer. Our family of agency owners and employees truly embraced this program, and the results speak to their commitment." Morgan Stanley (NYSE:MS) Mizuho Financial has decided to buy Morgan Stanley's (NYSE:MS) shares in Orient Corp. According to Nikkei business daily, Mizuho Financial Group, Japan's second-largest bank by assets will purchase about 30 billion yen ($368 million) of preferred shares in affiliate Orient Corp from Morgan Stanley (NYSE:MS ) and investment fund Kohlberg Kravis. Orient issued its preferred shares to a group of investors in 2007 to bolster its capital, where Morgan Stanley (NYSE:MS) had bought the shares worth 35 billion yen. We could possibly see more movement when trading continues for Sprint Nextel (NYSE:S), Allstate (NYSE:ALL) and Morgan Stanley (NYSE:MS).
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