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S Preview: Struggling to Make a Turnaround

By Ben Thomas

 About this article:
 Sprint Nextel is slated to report earnings before the market opens Monday with a conference call scheduled for 8:00 a.m. EDT. Current projections call for the company to post a loss of 5 cents per share on revenue of $8.28 billion. Recently, the stock has bounced pretty significantly as a lot of the lower-quality names typically do in early cyclical bounces. The company is in turnaround mode but hasn't yet demonstrated that it has begun to make that turn. Net subscriber losses continue to mount up, and I suspect that management will announce that the company lost another 1 million subs during the first quarter. Subscriber numbers must stabilize before Sprint can focus on growing the business again. The problem with Sprint is due to the slippery relationships between carriers and handset makers. Most of the higher-profile handsets go to competitors because they have larger customer bases....

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