UPDATE: Hudson Square Research Downgrades Sprint Nextel to Hold

Hudson Square Research downgraded its rating on Sprint Nextel S from Buy to Hold. Hudson Square Research said, "Following yesterday's, announcement that Japanese mobile operator Softbank would acquire 70% of Sprint, we lower our rating from Buy to Hold given that factoring dilution from the deal, the shares trade near our valuation target and on concerns for the future direction of capital expenditures." Sprint Nextel closed at $5.69 on Monday.