On Friday, Shares of Sprint Corporation (NYSE:S), lost -3.08% to $3.78, hitting its lowest level, after an analyst said the company could soon be in “severe financial distress.”
MoffettNathanson LLC’s Craig Moffett, appearing on CNBC this morning, said that a potential merger between Sprint and T-Mobile US Inc. that was “unthinkable” to regulators a year ago could gain sympathy if the company runs into financial trouble. Bloomberg Reports.
Sprint Chief Executive Officer Marcelo Claure is struggling to reverse seven years of subscriber losses and has had two successive quarters of gains, mostly from tablet subscribers and pay-as-you-go customers. Bloomberg added.
In other news, Sprint and Dixons Carphone declared a commercial relationship that pairs Sprint with a premier European consumer electronics retailer renowned for innovation in wireless retail sales. The relationship is predictable to accelerate Sprint’s retail transformation, and is the latest inventive move to grow its number of retail stores.
As part of the arrangement, in coming months Sprint will work closely with Dixons Carphone Connected World Services (CWS) division on a pilot program to build and operate about 20 new Sprint stores in select U.S. markets. These Sprint stores will operate similarly to the third-party retailers who operate Sprint-branded wireless stores across the U.S. Sprint will own and staff the stores while CWS will manage them. CWS will also apply its expertise and best practices across all of Sprint’s sales channels.
This agreement is the latest in Sprint’s strategy to expand its distribution and provide shoppers with a better customer experience. Earlier this year, Sprint quickly and cost-effectively doubled the number of corporate-owned stores by opening Sprint at RadioShack in 1,435 locations, which are presently undergoing renovation. Sprint has also launched Direct 2 You, a one-of-a-kind service that brings a personalized sales experience directly to customers whenever and wherever they want – for free.
Sprint Corporation, through its auxiliaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the U.S. Virgin Islands.
Shares of Hilton Worldwide Holdings Inc. (NYSE:HLT), inclined 2.24% to $27.89, during its last trading session.
Hilton Worldwide Holdings, launched its first youth entrepreneurship training program, Startup365, to address youth unemployment in China as part of the company’s commitment to open doors for one million young people by 2019. Entrepreneurs are critical to the long-term health of any global economy and Startup365 aims to equip young Chinese people with the business skills and entrepreneurial mind-set to succeed in today’s competitive workplace.
The innovative program was delivered by T Foundation (China) and the International Youth Foundation, with funding and program development support from Hilton Worldwide. Delivered as a two-day training boot camp, Startup365 enabled participants to experience firsthand what it takes to conceptualize, start, and manage a business, in addition to how to understand a market, differentiate a product and turn a profit.
Hilton Worldwide Holdings Inc., a hospitality company, owns, leases, manages, develops, and franchises hotels, resorts, and timeshare properties worldwide.
Finally, Johnson Controls Inc. (NYSE:JCI), ended its last trade with 0.64% gain, and closed at $49.03.
Johnson Controls, declared the following webcast:
- What: Johnson Controls Third Quarter Fiscal 2015 Earnings Conference Call
- When: Friday, July 24, 2015, at 11 a.m. EDT
Johnson Controls, Inc. operates as a diversified technology and industrial company worldwide. Its Building Efficiency segment designs, produces, markets, and installs integrated heating, ventilating, and air conditioning systems, in addition to building administration systems, controls, and security and mechanical equipment.
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