Walgreen Company (WAG), Sprint Corporation (S), Iron Mountain Incorporated (IRM): Today’s Three Best Stocks

Wireless service provider Sprint Corporation (NYSE:S) added 2.9% on the day following news that its majority owner, SoftBank, signed a deal with 19 banks to refinance its $20 billion in debt used to acquire a majority stake in Sprint. According to reports, SoftBank will pay a rate of about 110 basis points higher than the Tokyo interbank-offered rate on the debt with a five-year maturity and 140 basis points higher on the debt maturing in seven years. Obviously, having SoftBank in good standing with its lenders and paying less in interest will be a positive for Sprint Corporation (NYSE:S) since SoftBank is its financier for its own upcoming 4G LTE buildout.

Finally, information management services provider Iron Mountain Incorporated (NYSE:IRM) jumped 2.7% a day after declaring its upcoming quarterly dividend and following positive commentary by Piper Jaffray. For the upcoming quarter, Iron Mountain Incorporated (NYSE:IRM) announced a cash dividend of $0.27 per share payable on October 15 to shareholders of record as of September 25. More importantly, Piper Jaffray notes that Iron Mountain Incorporated (NYSE:IRM)’s bid to become a real estate investment trust — one that’s been in limbo as of a few months ago and caused the stock to tank — may not yet be dead. Based on Piper Jaffray’s best guess, Iron Mountain Incorporated (NYSE:IRM) will meet the definition of permanence with regard to its assets and should be allowed to convert to a REIT. The benefit for Iron Mountain Incorporated (NYSE:IRM), should this conversion go through, is preferential tax treatment while shareholders would receive at least 90% of profit in the form of a dividend.

The article Today’s 3 Best Stocks originally appeared on Fool.com and is written by Sean Williams.

Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.The Motley Fool recommends Goldman Sachs.

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