EARTHLINK JUMP LINKED TO REPORT OF BUY BY SPRINT.Byline: Colleen col·leen n. An Irish girl. [Irish Gaelic cailín, diminutive of caile, girl, from Old Irish. McElroy Bloomberg News EarthLink Network shares rose 37 percent Friday on a report that Sprint Corp., the third-largest U.S. long-distance telephone company, may buy the remaining 71 percent of the Internet service provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. that it doesn't already own. EarthLink shares rose $19.50 to $71.875, in trading of 3.42 million, almost four times the three-month daily average. Earlier, the shares touched a 52-week, intraday high of $75.75. The Dec. 7 issue of Business Week magazine reported in its ``Inside Wall Street'' column that unidentified people expect Kansas City Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , Mo.-based Sprint to break an agreement signed in February that prohibits it from buying EarthLink for 39 months. Robin West, a money manager for the New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). State Investment Council, estimates Pasadena-based EarthLink is worth $4.8 billion, or $120 a share, based on its projected subscriber base of 4 million in two years. Sprint declined to comment, and EarthLink couldn't be reached for comment. Sprint Chairman and Chief Executive William Esrey William T. Esrey (born 1940 in Philadelphia, Pennsylvania), is an American businessman, best known for his time as Chief Executive of Sprint Corporation. Biography said in June that EarthLink was the ``perfect Internet-access partner for Sprint,'' the magazine said. EarthLink said earlier this week that CompUSA, the largest U.S. personal computer retailer, selected the company as its exclusive Internet service provider. Sprint fell $0.0625 Friday to $74.5625. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion