Sprint Nextel, the nation's third-largest wireless carrier, said Wednesday it swung to a second-quarter loss on severance and other charges but still beat Wall Street expectations and said it had slowed customer defections. The company, however, said it expected customer losses to increase again in the third quarter, even as cash flows are expected to improve in the second half of the year.

The company lost 901,000 subscribers (down to 51.8 million) subscribers despite the launch of its Instinct cellphone

Read the complete story here.