Sprint Corporation (NYSE:S) announced today that it and certain of its subsidiaries have entered into a facility agreement of up to $1.3 billion with The Bank of Tokyo-Mitsubishi UFJ, Ltd., as administrative agent, based on the securitization of its wireless service accounts receivable. Other banks involved in the facility are The Bank of Nova Scotia, Mizuho Bank, LTD., and Sumitomo Mitsui Banking Corporation. The new facility is expected to provide supplemental liquidity for general corporate purposes. The receivables are expected to be sold on a revolving basis throughout the term of the agreement beginning on May 16, 2014. The revolving period of the agreement is scheduled to end on May 16, 2016. Sprint Corporation (NYSE:S) stock performance was -5.46% in last session and finished the day at $9.01. Traded volume was 23,003,910 shares in the last session and the average volume of the stock remained 15.89 million shares. Sprint Corporation (NYSE:S) insider ownership is 0.30%.
Forbes reports that the World Wrestling Entertainment, Inc. (NYSE:WWE) chairman and CEO lost a whopping $350 million when the company’s stock crashed yesterday upon news that its new streaming online video network would not replace its pay-per-view revenues until 2015. World Wrestling Entertainment, Inc. (NYSE:WWE) dropped -43.45% to $11.27 yesterday on volume of 40,901,176 shares. The intra-day range of the stock was $10.55 – 11.93. World Wrestling Entertainment, Inc. (NYSE:WWE) has a market capitalization of $846.91 million.
Solar-panel maker Canadian Solar Inc. (NASDAQ:CSIQ), is entering a “critical” phase in developing its solar-power plants in Japan and Canada, and it must demonstrate strong operations and deliver projects on time if it wants to generate high margins, analysts at Roth Capital said in a note to clients late Friday. Canadian Solar Inc. (NASDAQ:CSIQ)’s stock on May 16, 2014 reported a decrease of -12.84% to the closing price of $22.07. Its fifty two weeks range is $6.90 – 44.50. The total market capitalization recorded $1.21 billion. The overall volume in the last trading session was 10,096,994 shares. In its share capital, Canadian Solar Inc. (NASDAQ:CSIQ) has 54.77 million outstanding shares.
Bank of America/Merrill Lynch downgraded E Commerce China Dangdang Inc (ADR) (NYSE:DANG) to “neutral” from “buy,” setting a price target of $15 for the company. Analyst Binnie Wong said that while shares havemore than doubled since that beginning of 2013, E-Commerce China Dangdang faces more intense competition. Wong also noted that key metric for the first quarter was disappointing. For the first quarter E-Commerce China Dangdang reported net income of $800,000. Revenue increased 30% from the year-ago quarter to $279.2 million, though analysts surveyed by Thomson Reuters expected revenue of $281.76 million for the quarter. On Friday, shares of E Commerce China Dangdang Inc (ADR) (NYSE:DANG) dropped -7.80% to close the day at $9.10. Company return on investment (ROI) is -34.40% and its monthly performance is recorded as -24.67%. E Commerce China Dangdang Inc (ADR) (NYSE:DANG) quarterly revenue growth is -14.31%.
MeetMe Inc (NASDAQ:MEET), the public market leader for social discovery, has released Icebreakers, a new feature for the MeetMe iPhone app that makes it easier for users to start a chat. “Icebreakers solves the problem of the empty chat screen,” said Geoff Cook, CEO of MeetMe. “Rather than starting conversations with a generic ‘Hi’ or ‘What’s up,’ or possibly not starting them at all for lack of knowing what to say, Icebreakers makes sending an engaging first chat as simple as one tap. We believe it has the potential to increase both the number and quality of chats, leading to more replies and ultimately higher user engagement.” On Friday, shares of MeetMe Inc (NASDAQ:MEET) dropped -8.29% to close the day at $1.88. Company return on investment (ROI) is -11.40% and its monthly performance is recorded as -35.84%. MeetMe Inc (NASDAQ:MEET) quarterly revenue growth is -29.32%.