UPDATE: Hudson Square Research Downgrades Leap Wireless from Buy to Hold

Hudson Square Research downgraded Leap Wireless International (NASDAQ: LEAP) from a Buy to a Hold rating.

Hudson Square Research noted, “Leap reported disappointing 2Q results yesterday after the close. All the major metrics were worse than forecast including net sub losses. As we have lost faith in the company's consistently shifting strategies, we are downgrading Leap from Buy to Hold.”

Leap Wireless closed at $5.52 on Monday.