Sprint (S) up by more than 5% though it's giving back some gains. The company was upgraded to Outperform at Cowan. There's also a little reflected love from the iPhone rollout today. Sprint announced a new iPhone for Life plan giving users unlimited data talk and text on the Sprint network for as little as $20 a month. This being a cellphone deal a mind-boggling number of terms and conditions apply not the least of which being that Sprint is to network reliability as the NFL is to ethical transparency.
Ulta Cosmetic and Fragrance (ULTA) is soaring by 20% after crushing estimates and guided higher. Ulta says same store sales are going to be up 78%; a number that struck analysts as hot without resorting to trashy margins. CEO Mary Dillon has been rebuilding trust with Wall Street since an earnings miss last December. Suffice it to say today is a big step in the rebuilding process for the well-regarded Dillon.
Speaking of rebuilding trust, World Wrestling Entertainment (WWE) shares started the day strong but have given back most of the move. The dominant player in sports entertainment announced a multi-year distribution deal with India's Ten Sports that will not only keep the WWE on the air in India but also pave the way to live events next year. Of course Wall Street is still obsessed with WWE's effort to go to an online model in the U.S. with its WWE Network for computers and mobile devices. Subscription totals have been lower than hoped for the network which launched last spring. Those of you hoping to cut the cord on cable should be marking out in a big way for the WWE's effort to go over the top on cable.
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