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Morning Market Movers

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Flagstar Bancorp (NYSE: FBC) shares advanced 895.80% to $11.85 at 9:45 am. Flagstar announced a one-for-ten reverse stock split.

Tenet Healthcare (NYSE: THC) surged 304.52% to $24.15. Tenet Healthcare announced a one-for-four stock split of its common stock.

Clearwire (NASDAQ: CLWR) surged 25.39% to $1.6301. Japan's Softbank (OTC: SFTBY) is in talks to acquire a majority stake in Sprint Nextel (NYSE: S).

DragonWave (NASDAQ: DRWI) climbed 20.91% to $2.66. DragonWave reported a rise in its Q2 revenue.

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