Stocks Mixed After News: S, WEN, PVTB, PFE

Pompano Beach, FL -- (SBWIRE) -- 10/11/2012 -- Sprint Nextel Corporation (NYSE:S) jumped 13.45% to $5.72 on over 386.13 million shares after the company confirmed that it is in talks with Softbank, Japan’s third largest wireless carrier. In a statement, the company said the discussions involve “a potential substantial investment by Softbank in Sprint.” No price was given in the statement.

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The Wendy's Company (NASDAQ:WEN) added 0.95% to $4.25 on over 760K shares. The company will unveil a new logo in March, the first such change in nearly 30 years, as the hamburger giant accelerates its ongoing effort to rebrand itself as a higher-quality fast-food chain.

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PrivateBancorp Inc (NASDAQ:PVTB) added 8.29% to $17.24 on a traded volume of 3.32 million shares after the bank sold $75 million in stock. Those funds, along with proceeds from a debt offering, will go toward redeeming preferred stock that PrivateBancorp issued under the federal government’s TARP program.

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Pfizer Inc. (NYSE:PFE) went down 0.16% to $25.12 on a traded volume of 11.25 million shares. Pfizer Inc.'s investigational extended-release painkiller met safety goals in a 12-month study that included patients with moderate-to-severe, chronic non-cancer pain.

The investigational agent--called ALO-02--includes oxycodone and naltrexone. The technology used in ALO-02 aims to discourage tampering and abuse.

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