Sprint posts smallest quarterly loss in 4 years (AP)

NEW YORK ? Sprint Nextel Corp. on Wednesday reported its smallest quarterly loss in four years, as it continued a turnaround and kept getting better at keeping and attracting customers.

Sprint also provided important updates on the iPhone, its financing needs and planned network upgrades, undoing some of the damage caused by an investor day presentation three weeks ago that had investors fuming and sent its stock plunging.

Its stock edged lower Wednesday as investors continued to focus on finances that look precarious for the next two years.

The country's No. 3 wireless carrier said it added a net 1.3 million subscribers in the July to September period, the best result since 2006. Sprint continued to lose subscribers from its lucrative contract-based plans, but at a relatively low rate: 44,000 in the quarter.

Sprint's total customer count, 53.4 million, is now back at where it was in 2007, before the exodus of Nextel customers turned into a torrent.

The Overland Park, Kan.-based company has made steady gains in the last year and a half. Unfortunately for the company, most of the new customers are low-paying ones. They buy service from Sprint's low-cost Virgin Mobile, Boost Mobile or Assurance Wireless brands, or from non-Sprint brands that use the company's network.

The latest subscriber results don't include the effect of the iPhone, which Sprint started selling Oct. 14. The phone is expected to further improve the carrier's ability to keep customers, but at a high price. Apple charges about $600 for a phone that Sprint sells for $200.

Chief Financial Officer Joe Euteneuer said each iPhone will cost the company about $200 more than another smartphone. All the same, the company expects its four-year purchasing agreement with Apple to add $7 billion to $8 billion to its own bottom line.

CEO Dan Hesse compared getting the iPhone to signing a star baseball player to the "Sprint team."

"He has an expensive contract, but he's worth every penny," said Hesse, who often draws on sports analogies.

The problem for Sprint is that the cost of selling the iPhone comes up front, while the benefits, like higher service fees and lower service costs, accrue over time. Sprint doesn't expect the iPhone to be a moneymaker until 2014.

The added cost of the iPhone comes as Sprint is also starting to revamp its network for higher speeds. That adds up to financing needs of $5 billion to $7 billion in the next few years, Euteneuer said.

Sprint hopes to cover the gap by refinancing $4 billion debt coming due, Hesse said. The remaining $1 billion to $3 billion could be raised in the form of financing from the companies Sprint buying its new network equipment from: Samsung Electronics Co., Alcatel-Lucent and LM Ericsson AB.

Euteneuer said the terms of the deal with Apple are confidential, but said there's a minimum commitment to buy $15.5 billion in iPhones over four years. That works out to about 25 million phones, a figure in line with a report in The Wall Street Journal early this month that the company had committed to buying 30 million iPhones over four years.

Figures on the effect of the iPhone on Sprint's finances were missing from the presentation on Oct. 7, contributing to investor consternation. On Wednesday, Euteneuer apologized for not providing more information then.

Also Wednesday, Sprint said it had raised the limit on its credit line by $150 million and amended the terms so that an increase in the total amount of phone discounts doesn't affect its creditworthiness. It said it had $1 billion undrawn on the line.

Sprint's net loss was $301 million, or 10 cents per share, for the third quarter. That's down from $911 million, or 28 cents per share, a year ago. It was the best performance by Sprint since it reported a profit of $64 million in the third quarter of 2007.

Revenue rose 2.2 percent to $8.3 billion.

Analysts polled by FactSet expected a loss of 22 cents per share on $8.4 billion in revenue.

Sprint shares slipped 19 cents, or 7 percent, to close at $2.51 Wednesday. Two weeks ago, they hit a three-year low of $2.10.

Hesse also said the company has started discussions with Clearwire Corp. on how to make Sprint phones compatible with Clearwire's planned new wireless data network, and a discussions on commercial arrangements are ongoing. That sent Clearwire shares up 32 cents, or 20 percent, to close at $1.96.

Sprint owns 54 percent of Clearwire and uses its current data network for "Sprint 4G" service. But it doesn't control Clearwire's board, and the relationship between the two management teams has been cool.

Earlier this month, Sprint said it would stop selling phones compatible with Clearwire's current data network at the end of next year, with no mention of plans to use the planned "LTE" or "Long-Term Evolution" network. That sent Clearwire shares into a dive.

Sanford Bernstein analyst Craig Moffett said Sprint third-quarter results were "fairly good." If the company can straighten out its network strategy and its Clearwire relationship, investors might start to look past the financing needs of the next two years and toward the benefits that should kick in in 2014, he said.

"For the first time in a year, expectations are appropriately low, and there are now at least a few glimmers of hope," Moffett said.

Source: http://us.rd.yahoo.com/dailynews/rss/earnings/*http%3A//news.yahoo.com/s/ap/20111026/ap_on_hi_te/us_earns_sprint_nextel

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SAP mulls share buyback as 9-month cash flow jumps (Reuters)

FRANKFURT (Reuters) ? SAP, the world's biggest maker of business software, said on Wednesday it would consider buying back shares after reporting a 23 percent jump in third-quarter operating profit and sticking to its 2011 outlook.

"Given SAP's strong free cash flow generation over the first nine months of 2011, the company plans to further evaluate buying back shares in the future," the company said in a statement.

SAP said free cash flow was 2.64 billion euros ($3.7 billion) in the first nine months of the year, up 42 percent from 1.85 billion euros last year or 27 percent of total revenue.

SAP, which competes with Oracle Corp, said earlier this month third quarter sales at its key software and software-related services business rose 16 percent to 2.69 billion euros, while group sales came in at 3.41 billion.

Underlying operating profit for the group jumped 23 percent from a year ago to 1.13 billion euros, beating analysts' average forecast of 1 billion.

The company reiterated its outlook saying it would reach the high end of its 10 to 14 percent growth forecast for software and related services. Operating profit would come in at the high end of between 4.45 billion euros and 4.65 billion.

($1 = 0.719 Euros)

(Reporting by Harro ten Wolde)

Source: http://us.rd.yahoo.com/dailynews/rss/software/*http%3A//news.yahoo.com/s/nm/20111026/tc_nm/us_sap_results

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Video: Rick Santelli's Bond Report

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Guatemala sentences 2 in US adoption case

GUATEMALA CITY (AP) ? A Guatemalan court sentenced two women to 16 and 21 years in prison on Monday for trafficking a stolen baby who was given for adoption to a U.S. family.

Special prosecutor Lorena Maldonado said the sentences handed down to a lawyer and the legal representative of an adoption agency will reinforce the birth mother's bid to get her daughter returned from the United States.

"Even though the criminal proceedings are separate from the adoption process, these sentences help, and confirm the argument of the mother, Loyda Rodriguez, that this girl is her daughter and was stolen from in front of her house, and that there is a criminal structure in Guatemala that steals children," said Maldonado.

The Eighth Penal Tribunal sentenced lawyer Beatriz Valle Flores to 21 years in prison for human trafficking, criminal association and using false documents. She signed papers in the adoption.

A 16-year sentence went to the legal representative of the adoption agency, Enriqueta Noriega Cano, where the girl spent a year before being adopted. The girl left the country on Dec. 9, 2008.

Both women were also ordered to pay 100,000 quetzales ($25,600) apiece to the mother for damages.

Rodriguez, the mother, obtained a Guatemalan court order in July for the return of the seven-year-old, but it is unclear if it can be enforced.

The girl, Anyeli Liseth Hernandez Rodriguez was born Oct. 1, 2004, the second child of Rodriguez, a housewife, and her bricklayer husband, Dayner Orlando Hernandez. The girl disappeared Nov. 3, 2006, as Rodriguez was distracted while opening the door to their house in a working class suburb, San Miguel Petapa. She turned to see a woman whisk the girl, then two, away in a taxi.

If U.S. authorities intervene to return the child as the Guatemalan court has asked, it would be a first for any international adoption case, experts say.

In August, a construction-paper sign taped to the door of the girl's U.S. address, a two-story suburban Kansas City home, read: "Please respect our families (sic) privacy during this difficult and confusing time. We ask that you not trespass on our property for the sake of our children. Thank you."

Guatemala's quick adoptions once made this Central American nation of 13 million people a top source of children for the U.S., leading or ranking second only to China with about 4,000 adoptions a year. But the Guatemalan government suspended adoptions in late 2007 after widespread cases of fraud, including falsified paperwork, fake birth certificates and charges of baby theft ? though they still allowed many already in process.

The International Commission Against Impunity in Guatemala, a U.N.-created agency prosecuting organized crime cases in Guatemala, has reviewed more than 3,000 adoptions completed or in process and found nearly 100 grave irregularities.

The U.S. still does not allow adoptions from Guatemala, though the State Department is currently assisting with 397 children whose adoptions were in process at the time of the ban.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2011-10-25-LT-Guatemala-Adoption/id-60b191367b5d4e509cdec9b8a3c93973

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India central bank lifts rates, says may not need further hikes (Reuters)

MUMBAI (Reuters) ? India's central bank raised interest rates on Tuesday for the 13th time since early 2010 but gave a strong signal it may be finished with its current tightening cycle as growth slows and it expects high inflation to ease starting in December.

The Reserve Bank of India raised its policy lending rate, the repo rate, by 25 basis points to 8.5 percent, in line with expectations in a Reuters poll last week.

It also revised down its growth forecast for the current fiscal year ending in March to 7.6 percent from 8 percent with a downward bias earlier, while sticking with its forecast that headline wholesale price index inflation will ease to 7 percent at the end of the fiscal year.

The likelihood of a rate move at its December review is "relatively low," the central bank said in a statement.

"Beyond that, if the inflation trajectory conforms to projections, further rate hikes may not be warranted," it said.

Investors took comfort in the prospect that India's steady upward rise in interest rates may be at an end.

The benchmark 10-year bond yield fell as much as 7 basis points to 8.69 percent after the policy statement, while the 5-year swap rate fell 10 bps to 8.30 percent. The main BSE index (.BSESN) extended gains to as much as 1.1 percent before dropping.

"Clear direction from the RBI is now in place, that they are not looking at any more increase," Indranil Pan, chief economist at Kotak Mahindra Bank.

The RBI under Governor Duvvuri Subbarao has been one of the most aggressive central banks anywhere and has continued to take its fight to inflation even as its global counterparts have refocused monetary policy toward promoting growth.

Subbarao maintained his hawkish view on Tuesday.

"While the impact of past monetary actions is still unfolding, it is necessary to persist with the anti-inflationary stance," he said in the policy statement.

The central bank warned that medium term inflationary risks in Asia's third-largest economy remain high due to structural imbalances in agriculture, infrastructure bottlenecks, and India's fiscal deficit.

"In the absence of progress on these, over the medium term, the monetary policy stance will have to take into account the risks of inflation surging in response to even a moderate growth recovery," it said.

Despite continued policy tightening, inflation in India remains sticky, with the headline wholesale price index up 9.72 percent annually through September, its 10th straight month above 9 percent and highest among the BRIC grouping of economies that includes Brazil, Russia and China.

Inflation in India is driven in large part by high food and global commodity prices as well as fiscal policies that spur demand, all of which is beyond the scope of monetary policy, prompting some critics to urge the RBI to relent in its tightening.

Meanwhile, India's economy grew at 7.7 percent in the June quarter, its weakest in six quarters, while industrial output growth was below 5 percent in July and August.

In last week's Reuters poll, 17 economists had expected the central bank to raise rates on Tuesday but 13 had expected it to pause, with most respondents expecting rates to remain unchanged after Tuesday for the remainder of the fiscal year through March.

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/nm/20111025/bs_nm/us_india_economy

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Craig can't get pinch hit off Rangers in Game 3

/

By JAIME ARON

updated 9:36 p.m. ET Oct. 22, 2011

ARLINGTON, Texas - St. Louis' Allen Craig had no chance of getting another pinch-hit RBI off Texas reliever Alexi Ogando in Game 3 of the World Series.

Craig pulled off that feat to win Game 1, then did it again for the first run in Game 2. His success earned him a spot in the starting lineup Saturday night. He was batting second and playing right field, with Lance Berkman moving to designated hitter.

His great roll continued with a solo homer in his first at-bat Saturday night.

Craig is the first player in World Series history to have two go-ahead RBI pinch hits. For them to come in his first two World Series at-bats, and both to be so crucial, is pretty incredible. For them to come off the same pitcher, and on virtually the same pitch in the same spot is "kind of weird," Craig said.

"I've never seen anything like it," he said.

It also was the byproduct of a lot of hard work.

As a rookie in 2010, Craig went 1 for 7 with three strikeouts as a pinch hitter. He didn't exactly embrace the role for all the obvious reasons ? coming off the bench means you're not starting, and the odds are stacked against a guy coming in cold with only one chance to make something happen.

But Craig took a different approach this season. He accepted that it was his way of making a difference when he didn't start. He talked to coaches Mark McGwire and Mike Aldrete about the best mindset for those chances, and the results showed. He went 7 for 22 with only a single strikeout. His .318 as a pinch hitter was even a smidge better than his .315 average in all other at-bats.

"I try to take it for what it's worth ? a brief chance to impact the game," Craig said. "Most of the time, you're not going to be successful because it's that hard to do. I just try not to put too much pressure on myself and trust my ability and keep it simple. Don't try to hit the ball too hard or anything like that. Just see it, hit it and hope they can't catch it."

So is it fair to say that he no longer considers it a pain?

"It's grown on me a little bit," Craig said, smiling.

___

DIRK'S TOSS: Mavericks star Dirk Nowitzki stood on the pitching rubber, leaned over, shook off his catcher and spit. Then he fired the ceremonial ? and slightly controversial ? first pitch of Game 3 of the World Series.

It was low and slower than the 80 mph he predicted on Twitter. Still, the NBA finals MVP celebrated with the elbow-duck gesture the Rangers use to punctuate great plays and savored the cheers.

Nowitzki threw out the first pitch earlier this summer, after leading the Mavs to their first NBA title. Everyone told him not to bounce it, so he kept the ball up ? so far up that Michael Young "almost pulled a hamstring" trying to catch it, Nowitzki joked.

"This time they told me to throw a four-seam fastball," the German said, laughing. "I still don't understand what that means. But I think that's the grip I had. Or was it a two-seam fastball? I forgot."

Nowitzki was in the stands for Game 6 of the AL championship series, wearing his blue Rangers jersey with his name and basketball number, 41. Between him being a fan, and the championship connection, it only made sense for him to have this honor ? except, apparently, to some MLB officials.

Nowitzki initially was told he couldn't do it, supposedly because of something to do with the NBA lockout. Once word of that spread, it was roundly panned, so baseball officials relented.

The explanation Nowitzki got for the reversal, then the reversal of the reversal?

"Kind of wishy washy," he said. "Nothing really that really made sense. ... I'm glad it worked out and I got to represent. ... I just wanted to be here and watch the game. Even if they wouldn't have let me pitch today I probably would be here and support the boys."

Nowitzki and Mavs teammate Brian Cardinal (decked out in his own customized blue Rangers jersey) watched from the second row behind the Texas on-deck circle, near team president Nolan Ryan and former President George W. Bush. Asked if he'd be back for Games 4 and 5, Nowitzki said, "If they let me. I'll have to check with the Rangers. I'm going to ask Nolan when I sit behind him today, 'What's going on with the tickets?'"

Meanwhile, Cardinals manager Tony La Russa went to dinner Friday night with Mavericks coach Rick Carlisle.

"I asked him about what we do to get an edge in this series, and he said, 'Hand the ball to Dirk,'" La Russa said. "And I said, 'I can't do that.' He said, 'This is Dallas, I can't be telling the Cardinals how to beat the Rangers.'"

___

GRIDLOCK: The Rangers and their NFL neighbors, the Cowboys, are doing all they can to spread the word to people with tickets on Sunday ? leave early. Like, now.

The Cowboys kick off at 3:15 p.m. Sunday against, of all teams, the St. Louis Rams at their stadium, just a few blocks from the Rangers' ballpark. The Rangers and Cardinals begin Game 4 of their series at 7:05 p.m.

Because of the proximity of the venues, each team uses the others' parking lots. They can't this time, and there will be the traffic nightmare of roughly 80,000 football fans leaving around the time 50,000 baseball fans will be arriving.

"We encourage everyone to be patient and arrive early," the Cowboys wrote in a news release issued Friday.

To try unclogging things, the Cowboys are opening their parking lots at 10 a.m. The Rangers are opening their lots at 2 p.m.

___

FLIP IT, FLIP IT GOOD: Sluggers Josh Hamilton of the Rangers and Lance Berkman of the Cardinals will be down the street a few hours before Game 4 on Sunday taking part in the pregame coin toss for the game between their cities' NFL teams.

Hamilton will represent the Cowboys, and Berkman the Rams when the referee makes the flip.

Kickoff is at 3:15 p.m. The Rangers are scheduled to take batting practice at 4:15 p.m., and the Cardinals at 5:15 p.m.

___

GAME 4 STARTERS: Texas left-hander Derek Holland was a joke in his World Series debut last year. He walked all three batters he faced in Game 2, only to see them all score after he left.

Seriously, Holland himself says he jokes about how things went "because if you let it eat you up, it's going to hurt you more." He also proudly notes that he bounced back with a scoreless inning in his only other outing, the final inning of a loss in Game 4.

On Sunday night, he'll get a chance for a better World Series memory when he starts Game 3 against St. Louis and right-hander Edwin Jackson.

"To be honest, now that I'm getting to start, I have a lot more that I want," Holland said. "I feel like I've got a lot to prove after what happened last year, but it's obviously not going to take me out of my game or what I have to do for this next start."

Jackson's World Series history is similarly underwhelming. In 2008, he pitched two innings in relief for Tampa Bay in a Game 4 loss to the Phillies.

"I'm definitely going to take advantage of it and do my best and leave it on the field," Jackson said.

Both starters are 1-0 this postseason, and both their teams are 3-0 when they start. They haven't exactly been innings-eaters, though.

Jackson has gone from six innings to 4 1-3 to two innings. His ERA is 5.84 and opponents are hitting .314. Holland has gone 2 2-3 and 4 2-3 in his last two starts.

Jackson started once against Texas this season and lost, giving up four runs on 11 hits over 5 1-3 innings while pitching for the White Sox.

___

MISSING MITCH: A year ago, rookie first baseman Mitch Moreland was a surprise standout for the Texas Rangers in the postseason as the went to their first World Series.

Going into Game 3 of this year's World Series, Moreland was hitting only .105 (2 for 19) in the playoffs and hadn't yet played against the St. Louis Cardinals. And the left-hander wasn't in the lineup against a right-handed pitcher Saturday night.

"It's obvious he hasn't had a very good playoffs compared to last year," manager Ron Washington said Saturday. "We certainly haven't given up on Mitch."

Moreland didn't make his major league debut until late July 2010 after Justin Smoak was traded for Cliff Lee. But Moreland played 15 of 16 playoff games last year (starting 13 at first base) and a team-best .348. He was 6 of 13 in the World Series, including a homer in Game 3 at Rangers Ballpark, and was the only Texas player with a hit in every World Series game.

In 134 games this season, his first full season in the majors, he hit .259 with 16 homers and 51 RBIs.

"He's progressed a heck of a lot," Washington said. "He handled himself well when things didn't go as well. That's growth. We've still got a lot of confidence in Mitch."

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Pujols' 3 blasts carry Cards

??Albert Pujols joined Babe Ruth and Reggie Jackson as the only players to hit three home runs in a World Series game, tying records with five hits and six RBIs that led the Cardinals to a 16-7 rout of the Texas Rangers on Saturday night that gave St. Louis a 2-1 Series lead.

Source: http://nbcsports.msnbc.com/id/45001715/ns/sports-baseball/

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