Top 3 Tech Stocks on the Move: S, T, VZ

Sprint Nextel Corporation ( NYSE: S ) is a company that offers a range of wireless and wireline communications products and services for individual consumers, businesses, government subscribers and resellers in the United States. Sprint reduced the price of Galaxy Tab by Samsung Electronics Co. following cuts by Verizon Wireless, AT&T Inc. and T-Mobile USA. Sprint is the third-largest U.S. wireless carrier and now sells the Galaxy Tab for $299.99 with a two-year wireless-data contract. Verizon Wireless and AT&T cut the device's price this month by $100 each to $499.99 and $549.99, respectively. During the last trading session, Sprint opened at $4.42 and closed at $4.41, 0.23% higher than the previous day. The 52 week range for the stock has been $ 3.10 – $5.31. Sprint Nextel Corp. has seen revenues drop from $35.6B in 2008 to $32.3B in 2009, though the net income increased from a loss of $2.8B to a smaller loss of $2.4B. The reduction in SG&A from 31.50% to 29.30% of sales was responsible for the increase in Net Income. AT&T Inc. (AT&T) ( NYSE: T ) provides telecommunications services in the United States and the world. It offers services and products to consumers in the US and services and products to businesses and providers of telecommunications services worldwide. In the past three years, the company has lost more than 25% of its landline accounts. This has prompted AT&T Corp. to further reduce its service workforce in Wisconsin. Wednesday, the labor union that represents landline service workers said 120 jobs will be eliminated in April, including 72 positions in the Milwaukee area. During the last trading session, AT&T stock opened at $27.91 and closed at $28.04, 0.47% higher than the last trading day. The 52 week range has been $ 23.78 – 30.10. Over the years, AT&T, Inc. has seen little change in their bottom line (from $12.9B to $12.5B). Top line revenues were also little changed (from $111.4B to $111.1B.) Verizon Communications Inc. (Verizon) ( NYSE: VZ ) is a provider of communications services. Verizon operates in two segments: Domestic Wireless including wireless voice and data services and equipment sales across the United States and Wireline's communications products and services including voice, Internet access, broadband etc. After more than 3 years of wait, Verizon announced on January 12, 2011 that it would be providing i-phones to its customers and at the same price as AT&T. Apple said its Verizon Wireless deal was not exclusive, potentially leaving the door open for operators such as Sprint Nextel to sell iPhone. During the last trading session, the stock opened at $35.69 and closed at $35.47, 0.31% from the previous day. The 52 week range for the stock has been $25.99 to $37.70. Verizon's net income has been decreasing over the past few years despite growing revenues, since the SG&A costs have been increasing. This corporate profile is provided for information purposes only and should not be used as the basis for any investment decision. We are neither licensed nor qualified to provide investment advice. We were not paid, nor do we hold a position in these stocks. We reserve the right to buy or sell any stock mentioned in this report at any time after this post.
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