Sprint (S) released preliminary FQ2 results that initially boosted the stock before the reality of the numbers hit the market. According to the wireless carrier, the net loss was only $142 million in comparison to a loss of $585 million last FQ2. The improvement sounds great until the company mentions that the number includes a spectrum gain of $218 million. So despite all the improvements in subscribers, Sprint in reality still expects to report a massive $360 million quarterly loss. In essence, Sprint isn't charging enough for the new customers to cover costs... that simple. While not liking the stock at any price, the chart still shows the momentum is on the side of the longs. Some of the noise about the values of the spectrum could easily send the stock higher in the short term before the bubble pops. Disclosure: No position