Clearwire released decent preliminary third-quarter results in an effort to show it still has some fight left in it.
Clearwire was likely under pressure to show something positive as it has been fighting the perception that its largest wholesale customer and shareholder, Sprint Nextel, was abandoning it. Clearwire's stock has been taken a beating since Friday, when Sprint unveiled its own 4G path, in which Clearwire played a minor role. Clearwire currently supplies Sprint with its 4G WiMax network.
"We view the announcement as favorable and believe the results should assuage near-term bankruptcy concerns for the company," … Read more