Morgan Stanley Underweight On Clearwire Corporation

Morgan Stanley is out with a research report on Clearwire Corporation CLWR and it has an Underweight rating on shares. In a note to clients, Morgan Stanley writes, "Clearwire added 1.54m new subscribers in the quarter and raised its year end subscriber guidance. Retail adds were below expectations however on higher churn, while wholesale ARPU was also light. The company made good on its promise to reduce EBITDA losses with an $85.7m sequential improvement to a loss of $108.5m. The company plans to reach EBITDA breakeven in 1Q12." Shares of CLWR gained 23 cents yesterday to close at $2.47.