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Article: Sprint PCS shakes up investors.
- Article from:
- RCR Wireless News
- Article date:
- September 25, 2000
- Author:
CopyrightCOPYRIGHT 2000 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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When Sprint PCS continually sets records for subscriber additions each quarter, investors listen when the company for the first time revises third-quarter additions downward. And they panic, believing the industry leader's trouble is a sign of what is to come in the entire wireless sector when the third quarter ends this month.
Wireless investors sold off shares of Sprint PCS and a slew of other wireless-related companies on Wednesday, following Sprint PCS's announcement that it expects to add 800,000 customers rather than the 900,000 customers it had anticipated earlier this year. And though the company has been reducing churn in subsequent quarters, the ...