Clearwire shares rise following new financing

Clearwire shares rise as analyst upgrades after growth plans get support from new financing

Shares of Clearwire Corp. rose Tuesday after an analyst said the company's path to growth seemed more certain following a round of financing that will give it the capital needed to grow its wireless data network.

UBS analyst John Hodulik upgraded the stock to "Neutral" from "Buy."

He said Clearwire, which provides mobile broadband services, has the funds for expanding its high-speed wireless Internet access to more cities, add capacity to markets it already serves and improve signal strength and customer service.

Earlier this month, the company said it will receive $1.56 billion from investors and issue $1.6 billion and $920 million in two debt offerings.

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