Leap shares jump as vendors ease financing pacts
Leap Wireless' stock value jumped 12% today after the company announced that its equipment vendors, including Lucent, Ericsson and Nortel, relaxed financing requirements and capital-spending rules. As a result, analysts predict Leap could have stronger-than-expected subscriber growth in the third quarter.
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Leap shares had plummeted by about 42% since stating at the end of July that it would need $120 million in fourth-quarter revenues to meet the requirements under its credit agreements with vendors. The new revenue requirement is $100 million.
--Kelly Carroll, staff writer
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© 2012 Penton Media Inc.
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