Top Loser News - (NYSE:S) Loss Widens, stock down

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Sprint Nextel Corporation (NYSE:S) fell 3% to $3.17 after its third-quarter loss widened to $478 million, or 17 cents a share, from a loss of $326 million, or 11 cents a share in the year-ago period. Revenue fell 9% to $8.04 billion. Revenue fell on a lower contribution from post-paid wireless service sales as well as wireline voice and legacy data revenue, partially offset by an increase in prepaid wireless service and equipment revenue. Wall Street analysts expected a loss of 11 cents a share and revenue of $8.08 billion, according to a survey by FactSet Research. "We expect to see sequential quarterly improvement in both post-paid and total net subscriber losses in the fourth quarter of 2009," the company said.

Sprint Nextel Corporation (Sprint Nextel) is a holding company that offers a range of wireless and wireline communications products and services for individual consumers, businesses and government customers. The Company conducts its operations through two segments: Wireless and Wireline.

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