Clearwire (CLWR) Shares Trade Higher On Focus Shift, Sprint Earnings

Clearwire (Nasdaq: CLWR) shares are trading stronger this morning, following an overall solid Q410 earnings report from Sprint Nextel (NYSE: S) and reports that they are switching their business focus.

CLWR is up 3.3% ahead of the bell today.

Reports today say that Clearwire is abandoning their retail strategy in order to focus on becoming a wholesale network provider, paving the way for more investment by Sprint.

J.P. Morgan says that 81% of CLWR revs came from retail in Q311, though they see that ratio declining to below 60% by Q411. JPM also thinks that cutting off their existing retail base seems unlikely, at least not until more smartphone revenue numbers from Sprint.

JPM recently started the company with a Neutral rating and $6.00 price target.

Clearwire is expected to report Q311 earnings on February 17, 2011, after the market closes.

Click here for more color on Sprint's earnings.

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